The EPFO started investing in ETFs in August last year after the CBT in March cleared proposal to invest in equity markets.
US short seller Hindenburg Research, which had rocked the Adani Group with allegations of stock market manipulation and accounting fraud, on Tuesday said it has received a show cause notice from Indian capital market regulator Sebi over alleged violations in placing bets on the conglomerate stocks. Hindenburg termed the show cause notice as "nonsense" and "concocted to serve a pre-ordained purpose: an attempt to silence and intimidate those who expose corruption and fraud perpetrated by the most powerful individuals in India."
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.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
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.
Centre has come up with a scheme of financial aid to private sector for employing disabled people.
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
West Bengal Chief Minister Mamata Banerjee on Friday wrote to Prime Minister Narendra Modi, saying that her state would sever all ties with the Damodar Valley Corporation (DVC) for 'unilaterally releasing water', which led to floods in south Bengal districts.
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.
Ramalingam Kalirajan explains the pros and cons of both investment types.
With the abolition of the fringe benefit tax, it is back to the old perquisite tax.
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.
Money to the tune of Rs 3,837 crore was lying unclaimed in the inoperative accounts of Employees Provident Fund.
Employees joining companies after August and availing of the government benefits under the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) will also have to link their PF accounts with Aadhaar numbers.
Labour Minister Santosh Gangwar said, the purpose of labour reforms is to provide a transparent system to suit the changed business environment.
The Delhi high court has ruled that outsourcing units cannot be clubbed with each other or the company outsourcing work to them for the purpose of Employees Provident Fund.
The ministry of labour & employment has now been mandated to seek the 12-digit unique identification number Aadhaar from people like employees and unorganised sector workers seeking registration, benefits, availing services or receiving any payment under various schemes under the Social Security Code 2020. Aadhaar would not be made mandatory for delivery of services under various social security schemes under the purview of the ministry because Social Security Code 2020 has not been fully implemented so far. The rules under the Code are finalised by the ministry but those rules are yet to be notified.
The government is contemplating amending the existing law to avoid litigation in recovery of EPF dues from defaulting public and private sector undertakings, Labour Minister K Chandrasekhar Rao informed the Rajya Sabha on Thursday.
The Employees' Provident Fund Organisation can comfortably offer 8.5 per cent interest rate to its 4.41 crore (44.1 million) depositors during 2009-10 and still record a surplus contrary to Rs 139-crore (Rs 1.39 billion) losses suffered by it for giving the same benefit during the current fiscal.
A senior EPFO official said, "(Subhiksha) was given 15 days, starting February 20, to pay the PF dues. Since these were not paid, we will go ahead with the action and set a target to collect the dues before March 31, 2009, when the fiscal year comes to an end." The PF dues to be paid for the June-September period of 2008 were around Rs 1.46 crore. The status of Subhiksha's PF payments in other parts of the country will also be checked.
In India, younger workers willing to work at lower salaries are easily available, so you could find yourself out of a job before 60. Therefore, save for retirement with urgency, advises Sanjay Kumar Singh.
The Employees Provident Fund Board may examine the option of investing five per cent EPF corpus money in stock markets, Union Labour Minister Oscar Fernandes said on Tuesday. Ahead of the meeting of EPF Central Board of Trustees to finalise the interest rate for 2007-08, Fernandes said that the option to make investment in the capital market was "still open".
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Jet Airways, which is yet to resume operations under its new owner, will reduce salaries for various staff and send many employees on leave without pay, amid uncertainty over resumption of its operations. The measures, which will be effective from December 1, were revealed hours after the winning bidder Jalan-Kalrock Consortium (JKC) said it might take "difficult" near-term decisions to manage cashflows. The once-storied airline shuttered operations in April 2019 and JKC's resolution plan was approved under the insolvency process by the National Company Law Tribunal (NCLT) in June last year.
In a statement, Jayalalithaa said it was unfortunate that the EPF board decided to retain the interest rate at 8.5 per cent, amidst opposition from the huge work force of the country.
According to sources, the proposal is listed in the agenda of the meeting of the Union Cabinet scheduled for Friday.
The Bharatiya Janata Party on Monday demanded that the interest rates on Employees' Provident fund contributions be raised to 9.5 per cent to make them commensurate with the rise in bank interest rates.
Six establishments -- including Tata Motors -- have been selected as the best employers by the Central Board of Trustees of Employees Provident Fund Organisation.
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