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).
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.
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.
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.
'The BJP is trying to change this mantra.'
Many hurdles that investors could have faced after enrolling for the scheme have been removed.
Nine more people have died as heavy rains lashed Uttar Pradesh for the third day, taking the death toll to 28, while a red alert has been sounded on Tuesday in six districts including the worst-hit Barabanki and Gonda.
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.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
Ensure the employer has all relevant documents. Else, your pay will take a serious hit in the next two months.
The probe agency, while seeking Patkar's custody, also told the court that an offence of such magnitude was not possible without the "explicit complicity of senior functionaries" of the Brihanmumbai Municipal Corporation.
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.
The churn in Indian labour markets will be led by technology-driven sectors like artificial intelligence and machine learning (38 per cent), followed by data analysts and scientists (33 per cent) and data entry clerks (32 per cent).
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.
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.
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 Railway Men is a compelling watch; the subject is handled with seriousness and respect without going overboard with the dramatic impact, observes Mayur Sanap.
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.
The report mentioned that the government spends 2.2 per cent of the GDP on pension bill.
Though it may be anecdotal, there are some HR people who cannot reconcile their own salary from a CTC to take home!
EPFO has a subscriber base of around 6 crore (Rs 60 million).
Take an education loan. Encourage them to freelance while studying.
Supreme Court allows more instruments to use the biometric card.
'EPFO's investments this financial year should be Rs 1 lakh crore'
According to a study by global HR consultancy Mercer, even the largest companies in the country, whether public or private, could do more to help secure adequate retirement benefits for their workforce. In both public and private sector firms the basic salary is 28-30 per cent of the total salary. The basic salary for top management officials in private sector hovers between 25 and 40 per cent, while for other employees it falls in the range of 25 per cent to 30 per cent.
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.
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The impact the Economic Survey had on the Budget proposals and the influence the Prime Minister wielded on them deserve close attention.
Senate and House negotiators from both parties did not comment on the details of the deal, saying the staff is still working on last-minute logistics.
The new 10 per cent dividend tax will be payable only on dividend income over and above Rs 10 lakh threshold in a year, according to an amendment to the Finance Bill 2016 approved by Lok Sabha.
An open letter written by women employees of KFA alleged that the company did not pay salaries
The funds raised by employees were matched by an equal contribution from Wipro.
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.
Govt to scrap 8 appellate tribunals; National Company Law Appellate Tribunal to take over Competition Appellate Tribunal's duties
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.
A government panel examined the records of employees surveyed by Labour Bureau's quarterly enterprises surveys and mapped it with the EPFO's subscribers and found "unexplained variations" between the two.
It is Finance Minister P Chidambaram's meeting with leaders of public sector bank unions that averted the three-day bank strike proposed from March 28.
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