'If taxpayers have not filed a belated ITR, they will be allowed to file an updated ITR from April 1, 2024.'
Apprentices get at an average of Rs 10,000 to Rs 12,000 per month which can double after one year of on-the-job training.
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.
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.
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.
For large numbers of employees in the government system, the month-end salary cheque is no longer guaranteed. So the days of the government and State-owned enterprises wanting to be ideal employers are over, observes T N Ninan.
Layla Bolten claims she was harassed by colleagues; sues firm in US; company says charges are 'false and baseless'.
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.
Do you think FBT should be scrapped and India Inc be given alternative choices?
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
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.
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
Several technology companies are seeking to step up hiring from Tier-II and Tier-III cities of India in 2024 to tap into a vast talent pool of skilled professionals churned out by educational institutions and training centres in these regions. Tier-II and Tier-III cities such as Thiruvananthapuram, Kochi, Coimbatore, Jaipur, Mohali, Vadodara, Chandigarh, and Indore contribute around 12-15 per cent of the country's tech talent, hinting towards the strong talent availability in these regions, according to Randstad India, a talent management firm.
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.
Arivandakshan's arrest is the first of a political person in the alleged scam in which several political functionaries of the CPM are under scanner, they said.
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.
The merger of ZEE Entertainment and Sony has reached an advanced stage of completion, and the issues faced by promoters with Sebi should not become a problem for the company, debarred ZEEL MD Punit Goenka has said in a letter to employees, according to sources. Goenka, who along with his father Subhas Chandra, was denied any interim relief against a Sebi order that barred them from holding the position of director or key managerial post in any listed company, in the letter ZEE Entertainment Enterprises Ltd (ZEEL) staff asserted that the merger of Culver Max (earlier known as Sony Pictures Networks India) is at a very important juncture. With the Securities Appellate Tribunal (SAT) restricting him from holding a directorial or key managerial position in a listed company, Goenka told the employees that the ZEEL board has constituted an interim committee of senior executives to ensure smooth operations and day-to-day functioning.
NPS still has critics despite being in business for a decade and mopping Rs 24,000 crore as of 2013-14.
Her reasoning is simple, "It's a Tata company. No shareholder will let go of this opportunity," she told Business Standard. When asked if the other reason for lining up for the IPO is the technology sector and the fact that the combination of Tata and tech is happening after almost two decades, she replied: "The name of the company and the group matter. Tata means stability and credibility," she added.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'Modi must see how we live, what we have to do to educate our children.'
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.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Upon implementation of the 7th Pay Commission the expected yearly burden on the central exchequer will be more than Rs 100,000 crore. Central government employees will get on an average a 24 per cent pay hike. Still, the unions aren't happy.
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 fringe benefit tax (FBT) was levied on ESOPs in the Union Budget this year and the IT industry is still grappling with the issue of how to factor in the tax.
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.
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.
At present, organised sector workers covered under social security schemes run by EPFO are exempted from contribution towards schemes.
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.
Tata AIG Life Insurance Ltd will extend insurance cover to 15,930 employees of Wipro Ltd for a total sum assured of Rs 876 crore (Rs 8.76 billion).
EPF has traditionally been the only tool for Indians, especially the salaried class, to save for their retirement corpus.
Amid tough economic conditions, layoffs, salary cuts and decrease in benefits, most of the Americans seem happy at workplace, just not as happy as they use to be, a latest survey has found.
The Centre has rubbished the charges, saying Dorsey's Twitter regime had a problem accepting the sovereignty of Indian law.
They are demanding restoration of curtailed benefits.
There are over 1.36 lakh employees, including employees and pensioners under the new pension scheme.
Rising protectionist policies followed under Trump administration has prompted all IT services players to hire more locals in onsite geographies, especially in US.
Life insurance offers dual benefits: financial security to your family in case of the policyholder's death as well as helps you save tax, says Alok Patnia.
