The country's largest software company Tata Consultancy Services (TCS) on Wednesday said its net profit increased 8.7 per cent year-on-year to Rs 11,342 crore in the September 2023 quarter. The Tata Group flagship had reported a net profit of Rs 10,431 crore in the year-ago period.
The rising cost of medical insurance has prompted India Inc to provide lower cover to employees. A 2011-12 employee benefit survey says the average sum assured under the group medical cover offered by companies has come down by 40 per cent -- to Rs 300,000 from Rs 500,000 -- over the last two years.
While the country's unemployment rate is falling, the quality of employment seems to have taken a hit. The pace of formalisation slowed in the five months of the current financial year (April-August) with more than half a million fewer formal jobs created in the period compared to the same period last year, according to data from the Employees' Provident Fund Organisation (EPFO). The payroll data showed that cumulatively 4.92 million new subscribers joined the social security organisation between April-August this year, compared to 5.51 million subscribers in the same period in the previous year, reflecting a 10.7 per cent decline in the number of new payrolls created.
Demands include 5-day banking, PF to be calculated on total salary and allowances, not only on basic
InterGlobe Aviation, the operator of India's leading airline IndiGo, delivered a better than expected performance across most parameters in Q2FY24. The company posted its fourth consecutive quarter of net profit of Rs 188 crore. It had reported a loss of Rs 1,583 crore in the same quarter a year ago.
Researchers from Aarhus University's transdisciplinary Interacting Minds Centre in Denmark provide insight into how to improve productivity when members of a group share a clearly identifiable goal.
All those who joined Prasar Bharati before October 5, 2007, will be treated as government employees on "deemed deputation". At present, the status of these employees is not clear as they are treated as on "deemed deputation" and don't get the benefits of a government job like regular promotions, government housing and bonuses.
The order also provides that the field office will incur expenditure on the facilitation function under the head of publicity.
IT services firms' revenue growth in the fourth quarter will be affected by macro-driven headwinds, lower working-days, and the fact of the three-month period being low season. Analysts are expecting FY24 growth to be muted. Revenue growth will decline 600-700 basis points to 10-12 per cent for FY24, said a CRISIL Ratings report. The 10-12 per cent growth rate is a fall from the 18-20 per cent expected in FY23 and around 19 per cent growth in FY22, the highest in eight years, said the CRISIL Ratings report.
6 per cent increase in DA for Central govt employees
After inaugurating development projects worth nearly Rs 5,000 crore for boosting the agri-economy in the Union territory, Modi said he was "elated to be among the wonderful people of Srinagar".
The secretariat staff had launched an indefinite strike demanding, among other things, restoration of curtailed benefits, including a rollback in the cut in pension.
Google is the most attracitve employer in India followed by Sony
Upholding a bunch of petitions filed by aggrieved general category employees challenging the reservation in promotions, the apex court said the state failed to furnish sufficient valid data to justify the move to promote employees on caste basis.
Indian employees have the second highest savings rate at 16 per cent, second only to China.
According to global consultancy firm Grant Thornton LLP, most of the US companies are planning to reduce the average cost per employee by reducing various components of their employee's benefit and compensation package.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Shares of online food delivery aggregator Zomato rose above their initial public offering price after more than a year. The stock hit an intraday high of Rs 76.3 per share before settling at Rs 75.8. The company had priced its shares at Rs 76 during Rs 9,375-crore IPO in July 2021.
All of the 56 impacted associates, eight in the senior management and 48 in the middle as well as lower management, have been offered enhanced severance benefits and out placement services to support their transition, the company said.
Experts recommend awaiting the findings of the 2021 Census, which is yet to be conducted, before introducing population control policies.
The proposal is currently with the finance department and is expected to be placed before the Cabinet in the coming days.
The government has also revised the minimum wages for unskilled non-farm workers upwards by 42 per cent to Rs 350 per day
DA was last revised in September last year from 100 per cent of basic pay to 107 per cent.
The Centre has rubbished the charges, saying Dorsey's Twitter regime had a problem accepting the sovereignty of Indian law.
The decision of the Cabinet to increase DA for employees and pensioners from 27 per cent to 35 per cent will cost the exchequer Rs 6,969.36 crore (Rs 69.693 billion) per annum and Rs 8,131.20 crore (Rs 81.312 billion) during 2010-2011.
Layla Bolten claims she was harassed by colleagues; sues firm in US; company says charges are 'false and baseless'.
There are over 1.36 lakh employees, including employees and pensioners under the new pension scheme.
HP employs around 60,000 people in India, including former employees of EDS, which it had acquired for $13.2 billion in May last year. However, a good number of EDS India employees who were transferred to HP India will not be so lucky, industry sources said. "HP CEO Mark Hurd's plan to effect pay cuts between 2.5 per cent and 5 per cent will affect all EDS employees who were moved to HP," an industry source added.
A joint forum of Air India unions on Friday sought the labour department's 'urgent' intervention and initiation of conciliation proceedings in the matter of their passage policy and service conditions. On December 24, the forum comprising IPG, ACEU, AIEU and AICCA, in its demand notice to Air India managing director and chief executive officer Campbell Wilson, had protested against the changes in their service conditions. Tata Group took control of the then government-led Air India in January this year.
Do you think FBT should be scrapped and India Inc be given alternative choices?
Currently, if an employee covered by the ESI Corporation loses his job, he gets three months' salary as unemployment insurance over a period of six months. The ESIC recently decided to increase the amount to six months' salary disbursed over a period of one year.
Fresh formal job creation declined sequentially for a third straight month in February to fall to a 21-month low, signaling pressure in the employment market. These are the findings from the latest payroll data released by the Employee Provident Fund Organisation (EPFO) on Thursday. The number of new monthly subscribers under the Employees' Provident Fund (EPF) declined 10 per cent sequentially to 738,052 in February from 819,659 in January.
According to estimates available with industry experts, the wage bill of Maruti Suzuki, the country's largest car maker, is expected to increase by Rs 65-70 crore (Rs 650-700 million) after the increments.
While the responses of the candidates were predictable, depending on which side they belonged to, an interesting point slipped through when Rahul Shewale cited the Dharavi Redevelopment Project as a scheme that would add to Mumbai's importance. No big infrastructural project in Mumbai, he said, could be successful without the Centre's nod.
NPS still has critics despite being in business for a decade and mopping Rs 24,000 crore as of 2013-14.
In an apparent bid to thwart other airlines from poaching on its employees, priave carrier Air Sahara on Tuesday announced its new human resources policy offering a 40 per cent salary hike to employees.
Never mind work-life balance: this generation spends more time on the job than ever before.
...or just a Covid-era practice, asks Ajit Balakrishnan.
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