Food and grocery delivery major Swiggy on Thursday filed its updated draft papers with capital markets regulator Sebi to raise funds through its much anticipated initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth Rs 3,750 crore and an offer-for-sale (OFS) of 18.52 crore equity shares by existing shareholders, according to the updated draft red herring prospectus (UDRHP). Market sources have pegged the company's IPO size at over Rs 10,000 crore.
With EPFO capping the contributions to your pension scheme, you could look at other pension plans.
The EPFO had decided that 8.15 per cent interest from its debt income would be credited immediately and the remaining 0.35 per cent capital gains from the equity sale would be given later, subject to its redemption.
While Paytm (One97 Communications) is not completely past regulatory hurdles, its share price has gained in the last month or two. The Paytm handle migration is complete along with FDI clearance necessary for the Payment Aggregator (PA) license. UPI consumer data indicates stable market share, and expansion in partner networks in financial distribution. All this implies Paytm could be set to meet guidance of turning Adjusted Ebitda breakeven by Q4FY25 (ex of UPI-incentives).
Employees Provident Fund Organisation is likely to issue permanent account numbers to employees.
The main purpose of the meeting is to assess their views on reforms that are required to attract long-term capital into the country.
'80% of start ups fail because they don't have a support system to help them in the very early phase.' 'It's not just an idea that takes an entrepreneur through the initial three years of journey.' 'What plays a definitive role in making a start-up successful is idea+team+capital+mentors+access to a larger ecosystem.'
Switching to the UPS could be a game-changer for your retirement planning, especially if you value guaranteed benefits and higher government contributions, observes Ramalingam Kalirajan.
The the scheme has a subscriber base of 35 million.
K Chandramouli, commissioner, Employees Provident Fund, tells Business Standard's Sreelatha Menon that expansion of the fund will make it sustainable.
We the people are left in the wind, waiting on the whims of an unengaged president and an oligarch with a nearly bottomless wallet, observes Sree Sreenivasan.
The Employees Provident Fund Organisation had paid 9.5 per cent interest in 2010-11, before scaling it down to 8.25 per cent in 2011-12 fiscal.
The scheme, which will be effective from July 1, 2019 would benefit 36 million employees and 1.28 million employers. The ESI Act applies to factories with 10 or more workers and provides for medical, cash, maternity, disability and dependent benefits to employees drawing a salary of up to Rs 21,000 per month.
A shortlist using artificial intelligence would be prepared to identify eligible candidates and match them to the suitable internship opportunity. The shortlist would be shared with the companies on Tuesday, October 15.
In a bid to expedite the processing of initial public offerings (IPOs), the markets regulator will now seek additional information from lead managers (LMs) when they file draft documents. Last week, the Securities and Exchange Board of India (Sebi) sent a letter to bankers, listing over two dozens of new disclosure requirements. The average time Sebi takes to clear the draft red herring prospectus (DRHP) - a document companies must file before accessing public funds - has dropped to less than three months in 2024 (until May 31).
Retirement fund body EPFO's apex decision making body Central Board of Trustees (CBT) is likely to decide rate of interest on PF deposits for 2012-13 in its meeting scheduled on January 15.
PFRDA will invite bids to appoint pension fund managers.
Vaibhav Aggarwal's Change.org petition has been shared widely on Twitter and Facebook and continues to gather more signatures rapidly.
EPFO has allotted Universal Account Number (UAN) for portability and consolidation of all previous accounts.
On a cloudy Monday this month, Mohammed Irshad flew from Kochi to Gurugram to attend an exclusive investor networking event. Among a handful of founders selected for the event, Irshad was to pitch his peer-to-peer learning start-up Notespaedia for funding in front of top venture capital investors such as AngelBay, Elevation Capital, and Inflection Point Ventures. He failed to woo them, but the feisty entrepreneur was determined to continue his hunt.
The Central Board of Trustees of Employees Provident Fund is likely to defer a decision on interest rate to be given to its more that 4 crore (40 million) employees this fiscal.
The ordinance will be tabled in the next session of the legislature, it said, adding that 27 posts were approved for the commission.
Employees Provident Fund Organisation fails to arrive at a decision on interest rate.
Cases of front-running mostly happen when large asset managers and intermediaries are involved in bulk trades as their transaction size is generally big enough to impact the stock price.
The 4.7 crore (47 million) EPFO subscribers were left guessing during the year on continuance of 9.5 per cent interest rate for this fiscal, with the retirement fund body, in an unprecedented development, deciding to refer it to the finance ministry for a final decision.
'FDs should hold your emergency funds, equivalent to around 6-12 times your monthly expenses.'
The committee has termed the Employee Provident Fund Organisation's data on number of pensioners subscribed to the Employee's Pension Scheme, 1995 as 'inflated and imaginary'. Top officials of the labour ministry and the provident fund organisation were unable to explain how calculations for pensionary liability were arrived at without knowing the number of pensioners in the country.
The Employees Provident Fund Organisation is pressing State Bank of India, one of the four retirement fund managers, to comply with a clause that provides for a penalty for keeping money idle for over a day.
Over five crore subscribers of the retirement fund body EPFO are likely to get 8.5 per cent return on their investment during 2012-13, higher than 8.25 per cent paid in the previous fiscal.
Working hours cannot go beyond 48. Those who give a four-day week will have to provide three consecutive holidays after that.
DAP does not consider past I-T returns to match a taxpayer's resources with their expenditures or investments, points out Harsh Roongta.
'The actual amount due to Jet Airways employees is Rs 1,200 crore, and the management is giving only Rs 52 crore.'
Raising the issue during Zero Hour in the Rajya Sabha, Tapan Kumar Sen (CPI-M) said the move is a 'retrograde step' and asked as to why interest rates on employees' lifetime savings are getting cut when RBI has increased interest rates.
Business Processing Outsourcing (BPO) and Knowledge processing Outsourcing (KPO) firms are covered by the retirement fund body EPFO, Parliament was informed.
BJP-ruled states push through amendments to laws, aim to get larger share of FDI pie
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