Oravel Stays - which operates hospitality tech firm OYO - on Friday pre-filed its Draft Red Herring Prospectus with stock market regulator Sebi, sources said. Sources close to the company told PTI, OYO may launch its initial public offering (IPO) around Diwali this year. Unlike the traditional route where companies have to launch the IPO within 12 months from the Sebi approval, or final observation; in the pre-filing route, an IPO can be floated within 18 months from the date of Sebi's final comments.
The labour ministry has notified the more flexible investment pattern of 2008 for the Employees Provident Fund Organisation (EPFO), but minus its provision for investment in equity.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The higher the tax bracket, better the yields for these instruments
As per the recommendations of the 2nd National Commission on Labour, the ministry is codifying existing 44 central labour laws into four codes by simplifying, amalgamating and rationalising the relevant provisions of the legislations.
All those years of contributions not adding up to a big reward definitely makes the scheme unappealing.
At present, the EPFO is mandated to invest 20-45 per cent of its incremental funds - of around Rs 1.5 trillion - in debt-related instruments.
The pension fund managers distribute products under the National Pension System.
There are about 200 security staff who have the responsibility of checking the aircraft, baggages and also keep a vigil on the aircraft and areas surrounding it so that no one make an unauthorised entry. A senior airline's official dealing with the issue, said that their demand of salary hike has been sent to the head office in Mumbai.
Union Railways Minister Suresh Prabhu on Wednesday said the Centre was seeking private capital investment in cash-strapped Railways to meet the resource crunch and it does not amount to privatisation as the Railways unions claim.
Sebi, which has been given powers to take action against all unregulated money pooling schemes worth over Rs 100 crore (Rs 1 billion) besides all public issuances of securities, has issued this fresh caution notice at a time when a large number of people have been duped by numerous schemes in various states and enforcement action is underway against such operators.
The Indian arm hopes to get a piece of the pie.
The United Kingdom on Friday announced a joint investment package with Tata Steel worth 1.25 billion pounds, including a government grant of 500 million pounds, for the country's largest steelworks in Wales that will help protect thousands of jobs and boost the British economy. The government's grant has been dubbed as one of the largest British government support packages in history and a "defining moment" for the country's steel industry.
There will be tripartite pact with member, bank/housing agency and EPFO.
If a salaried employee does not possess Form 16, he can still file the I-T Return with the help of his salary slips and Form 26 AS.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
People like Manmohan Singh and P Chidambaram, who as finance minister had fully supported the NPS, refuse to exercise their moral and political influence to try and stop Ashok Gehlot and others hell-bent on wrecking the states' finances, notes Virendra Kapoor.
'What is this new PF rule? Complete nonsense!' 'I want my PF money right now and not when I am 58 years old.'
Experts say it's better to transfer the amount to one's current EPFO account than opting for a withdrawal.
One risk of investing in a very low-cost ETF is if a fund house runs it at below cost, it could close it if it fails to attract institutional money
Concerned by the continuous downward revision in the monthly net enrolment numbers, the EPFO has begun counting people quitting their previous jobs and joining a new one as an addition to the net payroll. According to experts these people cannot be counted as those who got a new job.
The Prime Minister's Office has suggested that EPFO should deploy 15 per cent of its funds as loan for low cost housing saying it would generate a credit flow of Rs 70,000 crore (Rs 700 billion).
The Reserve Bank of India's retail direct scheme is off to a good start but the central bank itself sees it as an additional avenue and not an alternative to the existing one. Still, a reasonable expectation is to have at least 100,000 investors within a month of it being operational, and that could be well under way, if the latest trend is to sustain. The registration in the retail direct platform has crossed 35,000.
The implementation of four labour codes in one go from April 1 next year will usher in a new wave of reforms in industrial relations and also help in attracting more investments but employment generation will remain a key challenge in 2021. This year has also been a challenging year for the work force as well as for employers due to the outbreak of the COVID-19 pandemic. The government imposed a nationwide lockdown from March 25, which had an adverse impact on economic activities and resulted in exodus of migrant workers from large cities to their homes in the hinterland. Many migrant labourers lost their jobs and it took months for them to return back to their work places from their native places.
The objective behind the move is to "retain the membership of PF subscribers and to address the social security needs at the time of unemployment."
Public sector banks have asked the Centre to intervene as talks with bank unions for allowing half of their employees a second chance to opt for pension instead of provident fund have reached a deadlock.
While the lockdown hit employment in all age groups, it hit the employment of youngsters who are less than 29 years of age much more. The lockdown also hit women more than it has affected men, reveals Mahesh Vyas.
Many hurdles that investors could have faced after enrolling for the scheme have been removed.
We as customers have to be conscious and careful to sidestep numerous types of frauds made possible under a mindless shift to a digital ecosystem without customer-redress procedures, warns Debashis Basu.
Twenty years after the burning of a train in Godhra killed 59 'karsevaks' and triggered one of India's worst post-Partition riots, the poll-scape reflects the yawning gulf between the two communities.
The Biden administration has proposed a massive hike in immigration fees, including the much sought-after H-1B visas for high-skilled foreign workers, which is very popular among Indian tech professionals. Under the proposed rule, published by the US Citizenship and Immigration Services (USCIS) on Wednesday, the application for the H-1B visa increases from $460 to $780, and L-1 from $460 to $1,385. The application fee for O-1 visas has been proposed to increase from $460 to $1,055.
Ensure the employer has all relevant documents. Else, your pay will take a serious hit in the next two months.
Take an education loan. Encourage them to freelance while studying.
Overall, the MF industry saw nearly Rs 5 trillion, or 18 per cent, of asset erosion in March, with the asset base shrinking to Rs 22.26 trillion from Rs 27.22 trillion at February-end.
In the start-up world, hitting the $1-billion mark, which accords the "Unicorn" tag, is a milestone. Enterprises typically reach the milestone only by series C or series D, or three to four funding rounds later. Zeta achieved it at the first one. On May 25, the six-year-old banking tech firm raised $250 million from Japanese conglomerate SoftBank, at a post-money valuation of $1.45 billion. "This is the first time we have raised institutional money," Zeta co-founder Bhavin Turakhia beamed on the conference call. This trajectory is uncommon in start-ups.
The report mentioned that the government spends 2.2 per cent of the GDP on pension bill.
The steep one percentage points increase has taken the interest on PF deposits of 4.71 crore organised sector workers to a five-year high.
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