Over 8.5 lakh employees, majorly from public sector banks (PSBs), will get a 15 per cent hike in pay, with the conclusion of the 11th Bipartite Wage Negotiations on Wednesday. After three years of intense negotiations, the UFBU, which represents four bank officer associations and five workman unions, and the IBA on July 22 entered into a memorandum of understanding (MoU) for an annual wage hike of 15 per cent.
Nasdaq-listed Cognizant Technology Solutions has signed a definitive agreement to acquire global engineering company Belcan for about $1.3 billion (Rs 10,853.7 crore) in cash and stock. The transaction is expected to close in the September quarter. The total consideration includes $1.19 billion (Rs 9,935.31 crore) in cash and 1.47 million Cognizant shares, valued at $97 million (Rs 809.53 crore) based on the information technology services provider's closing share price on June 7, 2024.
'it's not just youth in India who are left behind because of their inability to find jobs; nearly two-thirds of Indian women of working ages do not participate at all in the paid labour force.'
In the event of the BJP's poor performance in the assembly polls this year and in early 2025, Modi's hold will get further weakened because he will no longer remain the invincible electoral persona tightly controlling the machine at his disposal, asserts Nilanjan Mukhopadhyay.
Ramalingam Kalirajan explains the pros and cons of both investment types.
The New Year doesn't seem to be bringing good tidings for salaried employees. The tax burden of certain benefits that was being borne by the employer so far has been shifted to the employees now.
The New Year doesn't seem to be bringing good tidings for salaried employees. The tax burden of certain benefits that was being borne by the employer so far has been shifted to the employees now.
NPS is a cost-effective instrument with low fund management and other fees. Unlike in mutual funds, investors get the benefit of tax-free rebalancing here.
The proposal has been discussed by Sebi's Committee on Rationalisation of Financial Resources, which favours setting up such a fund.
The Supreme Court has ruled that the benefit given to the staff of a company under the employees' stock option scheme cannot be considered as taxable income and the company was not obliged to deduct tax at source.
Hyundai Motor India has started a scheme to give central and state government employees a special discount on purchase of its vehicles.
'We hope this move will make it easier for our female employees to stay in the workforce after they have children.'
The resolution seeking his reappointment as chairman and managing director of the diversified conglomerate will be put to vote at the company's annual general meeting to be held on August 11, 2023, according to a notice sent to the shareholders on Tuesday. The company under Puri drove the 'ITC Next' strategy in the last four years encompassing digital acceleration, cost optimisation, investing in new growth vectors and ensuring supply chain agility, its officials said.
'Benefits in kind' are the ones which are not included in an employee's salary cheque or wages.
US media reports that Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, could be the latest technology giant to downsize its workforce have triggered trepidation among its 300-400 employees in India, according to people familiar with the matter. "We have not heard much about the impact (of downsizing) on India. "It's a wait-and-watch situation. Certainly, there is uncertainty," said a source.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
Madhya Pradesh has nearly 750,000 employees who would share the benefit of the pay hike.
'Tax is not required to be deducted from specified payments if a recipient files a self-declaration with the deductor for no deduction of tax.'
The government has increased the existing limit of the Employees Deposit Linked Insurance (EDLI) amount from Rs 60,000 to Rs 1 lakh. The amount will be paid to the next of kin of an employee in case of his death.
'We all work hard and save money, and later spent it in hospitals!'
A majority of employees seem dissatisfied with their current salaries, a recent survey conducted by JobBuzz, an employer rating platform powered by TimesJobs, revealed.
The staff cost for NTPC, the country's biggest power producer, is likely to go up by about 16 per cent as the company plans to spend about Rs 2,800 crore in the current financial year on its employee benefits and renumeration. It had spent Rs 2,400 crore in 2009-10.
The new timing will remain in force till July 15 and result in an estimated saving of Rs 40-42 crore during the two-and-a-half month period, said Mann who, along with his staff, arrived at the Civil Secretariat in Chandigarh at 7.28 am.
Ahead of the festival season, the government on Thursday announced a 7 per cent hike in the dearness allowance of its employees which will give them some relief from near double digit inflation.
The DA hike will take effect from July 1.
Religious institutions and charitable trusts employing 20 workers or more will have to deposit employees' provident fund with the EPFO.
'We're putting a lot of focus on GenAI developers and people who can really do all the architecture and programming.'
Retirement fund body EPFO has extended the deadline for filing applications to opt for a higher pension till July 11. This is the second extension of the deadline for applying for a higher pension. Earlier, it was extended from May 3, 2023, to June 26, 2023.
US short-seller Hindenburg Research had shared an advance copy of its damning report against Adani group with New York-based hedge fund manager Mark Kingdon about two months before publishing it and profited from a deal to share spoils from share price movement, according to market regulator Sebi. The Securities and Exchange Board of India (Sebi), in its 46-page show cause notice to Hindenburg, detailed how the US short seller, the New York hedge fund and a broker tied to Kotak Mahindra Bank benefited from the over USD 150 billion routs in the market value of Adani group's 10 listed firms post-publication of the report.
Proxy advisory firm Institutional Investor Advisory Services (IiAS) has asked independent directors of Raymond Ltd to consider appointing an interim CEO and investigate the allegations of assault by its chairman and MD Gautam Singhania on his wife and daughter, and the use of company funds for personal benefit. In an open letter to the company's five independent directors, IiAS also suggested they ask Singhania and his estranged wife Nawaz Modi, also a board member, to take time off from their responsibilities as board members. The five independent directors to whom the letter was addressed are Mukeeta Jhaveri, Ashish Kapadia, Dinesh Lal, K Narsimha Murthy, and Shiv Surinder Kumar.
Obama used his executive power to announce a series of administrative measures to provide legal status to over five million illegal immigrants in the country, including those from India.
Air India has relaxed the new norm related to the accumulation of privilege leaves for those employees retiring in the current and next financial years. In March, the Tata Group-owned carrier revised its policy with respect to privilege leaves for both permanent and full-term contract staff to align the policy with prevailing market conditions. From April 1 onward, Privilege Leaves (PLs) accumulation limit for all employees is 60 days in a particular financial year.
If your flight is cancelled or delayed or you miss one, a travel insurance policy can cover the costs at such times and help you book a new one.
The decision is likely to bring additional amount of about Rs 1,500 crore or Rs 15 billion (including interest) in the books of MTNL as refund from government for the pension that the PSU paid to its employees.
Prepaid one offered by HDFC Bank and Apollo Hospitals gives discounts but one needs to spend it at designated hospitals and pharmacies to avail benefits
'The government has put in a lot of effort to provide infrastructure for the industry.'
