Govt working on policy to regularise migrant workers, labour ministry puts out broad contours of the policy for public discussion
The second annual employment and unemployment survey 2010-11, by the Labour Bureau, will show an improvement in the employment situation, officials said, while attributing the positive trend to a change in methodology, sample size and some extent to an improved labour situation in the country.
Over five crore provident fund subscribers governed by the EPFO will get 8.75 per cent interest on their deposits for the current fiscal.
A labour ministry note sent to the rural development ministry (MoRD) says the minimum wage notified in each state - often higher than the NREGA set one - has to be paid. But MoRD has written to the PMO that the NREGA enactment has clauses that exempt it from all other laws, including the Minimum Wages Act. Hence, MoRD is not legally obliged to pay at any other rate.
In what would surely come as intriguing information for policy-makers, a Labour Ministry survey has found that with an increase in education levels in the country, the unemployment rate was also increasing across age groups.
Along with Modi, senior BJP leaders including Rajnath Singh, Amit Shah, Nitin Gadkari, Nirmala Sitharaman and S Jaishankar, all ministers in Modi 2.0 Cabinet, took oath as cabinet ministers at the Rashtrapati Bhavan. In all, 71 ministers were sworn-in along with Modi, taking the strength of the Union council to 72.
Employees' Pension Scheme has been asked to fold up and hand over subscribers to National Pension System
The 28 new ministers who joined the Chouhan cabinet on July 2 include 20 of cabinet rank and eight ministers of state.
Nikkei 225 index hit the 40,000 mark for the first time ever on Monday, continuing its bull-run that saw the index reclaim its 1989 peak of 34,000 levels in February. as global investors latched on to Japan's biggest companies on improving shareholder returns, the weaker yen and booming corporate profits. Analysts remain bullish on Japan, mostly aided by gains in technology shares. Adoption of artificial intelligence (AI), according to a note by Morgan Stanley, is likely to benefit Japanese companies, which is almost at par with the US-based companies.
India's urban unemployment rate declined in Q4FY23 to 6.8 per cent - the lowest in over four years -- after it stagnated at 7.2 per cent in the previous October-December quarter, reflecting improvement in the labour market, according to the Periodic Labour Force Survey (PLFS) released by the National Statistical Office (NSO) on Monday. The unemployment rate in current weekly status (CWS) terms for all ages in the March quarter was the lowest recorded in more than four years, from the time the NSO released India's first quarterly urban jobless rate for the December quarter in 2018. The jobless rate in urban areas had been on a continuous decline since the peak of 20.8 per cent in the April-June quarter of FY21.
The federal probe agency obtained these receipts from two Ranchi-based dealers and attached those to its charge sheet filed against the 48-year-old Jharkhand Mukti Morcha (JMM) leader and four others last month.
The government has also revised the minimum wages for unskilled non-farm workers upwards by 42 per cent to Rs 350 per day
Retirement fund body EPFO's trustees on February 5 will decide on amending its scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit its 27 lakh pensioners.
The government is targeting export of goods and services worth $2 trillion by 2030.
Union Labour Ministry has announced pension scheme for unorganised labour hands like mine and cine workers.
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
Almost 25 per cent central government posts were vacant as of March 2022, compared to 9.4 per cent in March 2002.
The decision to drop the proposal was taken last month during a meeting that Finance Minister Arun Jaitley held with labour ministry officials.
Talking about sunrise sector, the Finance Minister said, India is beginning to create impact in pharma sector.
The the scheme has a subscriber base of 35 million.
Trustees of Retirement fund body EPFO will decide tomorrow on amending the scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit about its 28 lakh pensioners.
As per the EPFO income projections, retaining 8.8 per cent rate of interest for the current fiscal would have left a deficit of Rs 383 crore. Hence, it was lowered to 8.65 per cent
"The new food supply pipeline has also made it easier to supply better food in larger quantities to them, which is a good thing. Otherwise the situation remains the same," said Negi, who spoke to his brother.
Workers' attitude is changing and they want to work more and demand more wages. They want more productivity.
The government has taken "serious note" of complaints against an Indian company, involved in alleged mistreatment of 77 Indian labourers in Sri Lanka, and directed its mission in Colombo to make immediate arrangements for their return.
'We can save 70 patients out of 100, if they reach a hospital well within time.' 'The most crucial aspect is time.'
Contract workers are paid much less than regular workers. This year's Economic Survey estimates wages are on an average 20 times higher in the formal sector than in the informal sector. Arindam Majumder reports.
It is not just about archaic limits, there are a number holes which, if plugged, will come to the aid of taxpayers, rues Neha Pandey Deoras
The EPFO had decided that 8.15 per cent interest from its debt income would be credited immediately and the remaining 0.35 per cent capital gains from the equity sale would be given later, subject to its redemption.
The portal, which has been tentatively named by the labour and employment ministry as the National Portal for COVID-19 Affected Unorganised Migrant Workers, will gather the details of all the unorganised sector workers who are stranded in relief camps, residential or industrial clusters.
After taking benefit of the scheme, jobs increased by around 11 mn in establishments that took loans.
All institutions registered with the United Arab Emirates's labour ministry will have to pay their workers' wages and salaries from September this year through a new system that seeks to protect the rights of workers in the country.
There are differences between the ministries of labour and finance on the issue.
The Centre has taken a major step towards increasing efficiency in decision-making by empowering joint secretaries to report to secretaries directly, officials said on Wednesday.
'A large number of people from Sindh province will now opt to migrate to India as they would be granted citizenship through an easy process.'
The divestment department has proposed that public sector units involved in mining ores alone should qualify for 'natural asset' status while imposing additional norms concering employment of labour.\n\n\n\n
Retirement fund body EPFO has retained 8.5 per cent interest rate on employees' provident fund (EPF) for 2019-20 for its over six crore members as decided earlier, and also began crediting the same into their accounts on Thursday. A large number of the members of the Employees' Provident Fund Organisation (EPFO) would be able to see their updated EPF accounts with credit of 8.5 per cent interest for 2019-20, from Friday, a senior official told PTI. The official further said the labour ministry has already sent the direction to credit the 8.5 per cent interest on EPF for 2019-20 to the EPFO, and the body has already started crediting interest into the members' account for the last financial year.
According to the EPFO estimates, there would be a surplus of Rs 151.67 crore after providing 8.65 per cent rate of interest for 2018-19 on EPF.
