Gross enrolments of new subscribers with the ESIC were 1.49 crore during 2018-19.
For Indian equities, this will a good stabilising hedge against the speculative investor breed, which is largely dominant in Indian equity markets.
According to TimesJobs.com's latest Compensation and Benefit survey, employees prefer in-hand salary rather than medical facilities, post-retirement benefits and other perks.
If your EPF account has been lying dormant for more than three years that you must sit up and take notice. Else you may not earn interest on it.
Air India Chairman Rajiv Bansal has been appointed as the new aviation secretary as part of a major top-level bureaucratic reshuffle effected by the Centre on Wednesday. K Rajaraman, additional secretary in the department of economic affairs, has been appointed as secretary, department of telecommunications, a personnel ministry order said.
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
This is 1 per cent higher than the interim rate of 8.5 per cent announced for 2004-05.
Verma, who till recently was strongly opposed to any cut in EPF rates, however, appeared to have softened his stand as he cited the current lower interest rate regime in the country.\n\n\n\n
With the finance ministry refusing to hike rates of Special Deposit Schemes and allow it to park funds in high interest bearing postal deposits, the Employees Provident Fund Organisation is toying with the idea of trading in government securities as
Retirement fund body EPFO settled 1.21 crore subscriber claims, including withdrawal and transfer of provident fund, in 2013-14, an increase of 13 per cent over the previous year.
While looking to give a boost to the mutual fund sector with some contribution from about Rs 5.5 lakh crore (Rs 5.5 trillion) corpus being managed by Employee Provident Fund Organisation, Sebi feels that age restrictions would safeguard investors from 'unnecessary risks' during years closer to their retirement.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
The Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) have intensified their investigations against Gaurav Mehta, a suspect in a Bitcoin Ponzi scam, following allegations that politicians may have been involved in using cryptocurrency to influence Maharashtra assembly polls. The ED searched Mehta's residence in Raipur and seized computers and digital devices. The CBI summoned him to appear before investigators. The ED is probing Mehta's potential links to politicians, politically exposed persons, and bureaucrats as part of its money laundering probe. The allegations came after BJP released purported voice notes suggesting that Congress and NCP leaders were attempting to use cryptocurrency for election campaigning. Both parties denied the claims, calling the voice notes fake.
Facing flak over its decision to impose tax at the time of withdrawal on 60 per cent of the contributions to Employees' Provident Fund, the government on Tuesday clarified that only interest accrued on 60 per cent contribution to EPF after April 1, 2016 will be taxed.
The government on Tuesday said PPF will not be taxed on withdrawal and only the interest accrued on contributions to employee provident fund made after April 1 will be taxed.
Questioning the claims made by the Centre that it had defaulted in Employees Provident Fund, auto giant Maruti Udyog Ltd on Saturday said it was diligently complying with all relevant acts in respect of its employees.
The finance ministry appears to have ruled out subsidising Employees Provident Fund Organisation, despite the labour ministry struggling to bridge the Rs 927 crore (Rs 9.27 billion) deficit to pay 9.5 per cent interest to about Rs 4 crore (40 million
The New Pension Scheme is one of the more ambitious programmes tried out by the government. If successful, it has the power to transform India's savings habits.
The EPFO started investing in ETFs in August last year after the CBT in March cleared proposal to invest in equity markets.
Centre has come up with a scheme of financial aid to private sector for employing disabled people.
In January, the Employees' Provident Fund Organisation had asked the field staff to ensure the collection of data in respect of member joining on or after March 1, on a monthly basis and in respect of existing members by June 30, 2013.
The amount deposited in the Employees Provident Fund as on December 31 was Rs 60,874.99 crore (Rs 608.74 billion), Minister of State for Labour Vijay Goel informed the Rajya Sabha on Thursday.\n\n
The government on Thursday assured that it will continue with the 9.5 per cent interest on Employees Provident Fund and said it was because of 'wise' investment decisions that it was able to offer such a rate.
By region, Thiruvananthapuram leads with 247 defaulters, followed by Kolkata with 173 and Bhubaneswar with 115
The Code on Social Security, 2020 gives a lot of comfort to gig firms which recognise cab drivers or food delivery executives as 'independent contractors' who directly do business with customers with the help of their digitised platforms.
Amid possibility of a 0.5 per cent cut in the interest rate for the current fiscal, the Employees Provident Fund Board will meet in New Delhi on January 27 to finalise the EPF rate, which is 8.5 per cent at present.
Ushering in a big wave of reforms by implementing the four labour codes, setting up the national social security fund to cover over 38 crore informal sector workers and improving the ease of doing business will top the agenda of the labour ministry in the New Year. In a major move, the ministry launched the e-Shram portal on August 26, 2021 for creating a national database of over 38 crore informal sector workers. It will help the government to ensure last-mile delivery of benefits of various social security schemes to the informal-sector workers.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Money to the tune of Rs 3,837 crore was lying unclaimed in the inoperative accounts of Employees Provident Fund.
Edtech firm Think and Learn Private Ltd, owner of Byju's, on Thursday said neither the company's founder and CEO Byju Raveendran nor any other board member will attend the extraordinary general meeting called by some select investors. Shareholders at Byju's are set to vote on Friday on a resolution brought by some investors to oust founder CEO Byju Raveendran and his family members over alleged "mismanagement and failures". Byju's has called the EGM "procedurally invalid" and contractually in contravention of the company's article of association and shareholder's agreement.
During 2019-20, the number of net new subscribers rose to 78.58 lakh as compared to 61.12 lakh in the preceding fiscal.
With the abolition of the fringe benefit tax, it is back to the old perquisite tax.
