During December 2018, maximum number of 217,000 jobs were created in the 18-21 years age group followed by 203,000 in the 22-25 years age bracket.
7 million jobs will be created in formal sector in FY18
The number of contributors was 46.4 million in July and 44 million in September.
The members of these trusts enjoy tax and other benefits at par with EPFO subscribers.
The UPA government's decision to ensure a minimum pension of Rs 1,000 a month under the retirement fund body EPFO's scheme, which will immediately benefit 28 lakh pensioners, is going to be a reality soon.
'Where in the world you get 12.5 per cent return of interest?'
The total size of pension market in India is estimated to have stood at over Rs 1.5 lakh crore (Rs 1.5 trillion) in 2010, while it is expected to rise to over Rs 2 lakh crore (Rs 2 trillion) by 2015 and further to close to Rs 3 lakh crore (Rs 3 trillion) in 2020 and more than Rs 4 lakh crore (Rs 4 trillion) by 2025.
The insurance brokerage had experience of settling claims in Jammu and Kashmir and Visakhapatnam in Andhra Pradesh during natural catastrophes earlier this year.
The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments.
The salary hike for government employees is likely to put an additional burden of Rs 24,000 crore on the state excheque.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
The fresh meat and seafood delivery startup Licious plans to set up 500 stores nationwide within the next five years as part of an omnichannel strategy. The aim is to attract new users in the offline channel and encourage them to transact online as well. The move would also help the company in its efforts to achieve profitability and go for an initial public offering (IPO) in the next 24 months, according to the sources.
The chief minister and his wife Kamlesh Thakur presented a cheque of Rs 51 lakh to chief secretary Prabodh Saxena at their official residence in Shimla.
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Taxpayer will also have to forego deduction under 80CCC (contribution towards certain pension fund), Section 80D (health insurance), 80E (interest on loan for higher education), 80EE (interest on loan taken for residential property), 80EEB (purchase of electric vehicle), 80G (donation to charitable institutions), and 80G (rent paid).
For women, it is important to build an emergency fund and a financial independence fund independent of the couple's joint goals and plans.
Tata Passenger Electric Mobility (TPEM), a subsidiary of Tata Motors, on Friday announced that it has commenced production at its second factory in Sanand, Gujarat, which it had acquired from Ford India last year. This new facility will unlock an additional manufacturing capacity of 300,000 units per annum, which is scalable to 420,000 units. The new facility is spread over 460 acres and is adjacent to Tata Motors' existing passenger vehicle facility in Sanand.
BharatPe co-founder Ashneer Grover and his wife Madhuri Jain were stopped at the Delhi international airport following a look out circular issued against them in the alleged fraud at the fintech firm, sources said. The couple were to travel to New York late on Thursday for vacation when they were stopped at the airport on the basis of a look out circular issued by the Economic Offences Wing (EoW) of the Delhi police. EoW is investigating complaints of payments being made at BharatPe to fake human resource consultancies allegedly operated by Grover and family. They have also been accused of backdating invoices to use funds.
At present, someone short of the retirement age can completely withdraw the PF money.
Unique Identification Authority of India said the alleged data breach took place on a website that does not belong to it.
In a public notice, the Securities and Exchange Board of India observed that some companies or entities are illegally mobilising funds from the public by making false promises of exorbitant rates of return under various schemes.
At present this facility is available to workers of (un-exempted) firms which do not have their PF trusts and manage their employees' accounts with their respective regional fund commissioners of the EPFO. It was launched in October last year.
If your account is idle for over five years, there could be issues with acquiring EPF details.
"People in India are benefiting from the whole process of liberalisation," Finance Minister Arun Jailtey said.
There is no reason for a child with no dependents to have insurance because insurance is put in place to provide for the child in the event of a parent's untimely death and not the other way around, says Amar Pandit.
Debt fund managers think the Reserve Bank governor might at best go for one rate cut in April.
According to the law, the contribution "should not be more than 5 per cent of the amount paid to gig workers. The government is likely to start seeking contribution from gig companies towards the fund from April 1, 2021.
Market regulator Sebi on Wednesday proposed a new set of regulations for employee stock options, wherein certain restrictions imposed on companies for award of such allotments to staff members could be eased.
"What we have been able to gather is that Newsclick stands accused of offences under the Unlawful Activities Prevention Act (UAPA), for purportedly carrying Chinese propaganda on its website. All devices, laptops, gadgets, phones, etc have been seized in the past. All emails and communications have been analysed under the microscope," the statement by NewsClick read.
In the backdrop of the crisis brewing at Paytm Payments Bank, major fintech companies are ramping up their workforce and inducting new faces in their leadership teams, industry sources said on Wednesday. Users will not be able to add funds to their Paytm Payments Bank Wallet after February 29, though they will still be able to use the services and the existing balance in the wallets, according to the Reserve Bank of India (RBI) diktat. Industry sources said that competitors to Paytm are investing heavily in offline payments while doubling their salesforce.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
Apart from this, employers may be allowed to deduct EPF contributions only on the basic pay of up to Rs 15,000, even if the employees' basic pay is above this ceiling. While on one hand this will allow companies to lower their wage bills, employees can also get a higher salary in hand.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
The highest number of jobs were created in the age group of 18-21 at 1.29 million, followed by 22-25 years of age at 1.12 million during these seven months.
The dealers operating in the space have jumped nearly three times over the past two years.
'There is still scope for selective stockpicking.'
Few options that can help you plan taxes wisely.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
The completely avoidable mess that the finance ministry found itself in was rather surprising, says Debashis Basu.
Jet's air operator certificate will lapse on May 19.
The Primary Market Advisory Committee of Sebi has suggested some changes and the market regulator had sought public comments on the recommendations.
