The government has approved 8.5 per cent rate of interest on employees' provident fund for the 2020-21 fiscal, a source said. Just ahead of Diwali, this is a good news for over five crore subscribers of the Employees Provident Fund Organisation (EPFO). The 8.5 per cent rate of interest on provident fund deposits for the last financial year was decided by the EPFO's apex decision making body Central Board of Trustees (CBT) headed by Labour Minister in March this year.
He is known for his paperless style of working.
"As many as 1.12 million expats corrected their professions until July 6. We have also issued and renewed more than 1.6 million work permits during the period," Abdullah Abuthnain, Deputy Minister for Inspections and Developing Work Atmosphere, was quoted by the local media as saying.
Talking to PTI Amarjeet Kaur, General Secretary of All India Trade Union Congress (AITUC), said, "The two-day nationwide strike by the joint forum of central trade unions has begun this morning". About the impact of the agitation, she said that the entire coal belt (mining area) is affected in Jharkhand, Chhattisgarh and Madhya Pradesh. She also said that there is a good response in industrial areas of Assam, Haryana, Delhi, West Bengal, Telangana, Kerala, Tamil Nadu, Karnataka, Bihar, Punjab, Rajasthan, Goa, Andhra Pradesh and Odisha. The AITUC official noted that the banks and insurance sectors are affected all over India, while steel and oil sectors are also seeing partial impact due to the strike. Kaur said that she has got preliminary reports that markets are closed in Odisha.
Employment in nine selected sectors, including construction, manufacturing and IT/BPO, was at 3.08 crore in the April-June quarter of 2021-22, reflecting a growth of 29 per cent compared to 2.37 crore reported in the Economic Census of 2013-14, according to a survey. Labour and Employment Minister Bhupender Yadav on Monday released the report of Quarterly Employment Survey (QES) part (April to June 2021), of the All-India Quarterly Establishment-based Employment Survey (AQEES) prepared by the Labour Bureau. Announcing the results, Yadav said the estimated total employment in the nine selected sectors from the first round of QES is 3 crore and 8 lakh approximately against a total of 2 crore and 37 lakhs in these sectors taken collectively, as reported in the sixth Economic Census (EC 2013-14) reflecting a growth rate of 29 per cent.
Rationalisation of income tax slabs, infrastructure status for digital services and incentives to hydrogen storage as well as fuel cell development were some of the suggestions made by various stakeholders at the pre-Budget consultation meeting convened by Finance Minister Nirmala Sitharaman. The customary pre-Budget consultation meetings were held with the finance minister virtually between December 15 and December 22, as per the finance ministry statement. More than 120 invitees representing seven stakeholder groups participated in eight meetings, scheduled during this period, it said.
'Today when people are fighting to get their salary, you are telling them you will privatise airports!'
The intensity of power crisis this season has hit a new high with average coal stock dipping to less than eight days. The first of a pan-Indian series, based on a ground report, shows how the Manesar industrial hub is coping with the challenge. As the scorching heat wave and the lengthy power cuts intensify in Haryana, the usually bustling labour chowk of the Industrial Model Township (IMT) of Manesar wears a deserted look.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
Developers grappling with labour shortage and getting construction material to sites could be among a list of problems.
The outbreak and lockdown have thrown up a number of challenges, such as layoffs, pay cuts and a general slowdown. Many subscribers after their unsuccessful attempts to use the scheme have taken to social media to voice their complaints, as the EPFO website and grievance portal suffer outages and its customer helpline remains unreachable.
Balwant Singh Ramoowalia, whom Samajwadi Party president Mulayam Singh Yadav earlier gave a berth in the Rajya Sabha, was the surprise entry even for senior ministers who were seen asking each other about the background of the man from Punjab.
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.
Workers being laid off will be entitled to full wages of 45 days for every year of service.
Employees of around 150 firms may lose out on PF benefits as their companies failed to get an exemption certificate from the Employees' Provident Fund Organisation (EPFO)
At present, the EPF subscribers are exempted from paying income tax on deposits.
On Monday, the ministry had put the recovery rate from COVID-19 at 22.17 per cent.
Releasing the survey report after taking into account the expert committee recommendations, Statistics Secretary Pravin Srivastava told reporter, "It is a new design and a new matrix. It would be unfair to compare it with the past. This 45- year high is your interpretation. I don't want to claim that it is 45-year low or high."
Over 1.4 lakh jobs are estimated to be created between March 2019 and March 2021 in various central government departments, according to the Union Budget presented on Monday. The strength of government establishments was 32,71,113 as on March 1, 2019, which is estimated to increase to 34,14,226 by the first day of next month - an increase of 1,43,113, it said. The budget documents have given a break-up of the jobs estimated to be created in central government departments between 2019 and March 2021.
Portfolios were on Tuesday allocated in the new Bihar cabinet headed by Chief Minister Nitish Kumar who, predictably, retained the all-important home department which helps him keep direct control on the state police.
Mapanna Mallikarjun Kharge, a staunch Gandhi family loyalist from Karnataka, has become the Congress' first non-Gandhi president in 24 years.
States were directed to ensure there is no movement of people across cities or on highways. Only movement of goods should be allowed.
The fresh companies were moved into the valley as part of the strategy of 'enhancing security and visibility' of the forces on the ground following the killings, they said.
Being made a member of the Cabinet Committee on Political Affairs makes her an important player in BJP politics, observes Rashme Sehgal.
Trade unions on Tuesday began a five-day coal industry strike, terming it as the biggest industrial action for any sector since 1977.
Health Minister Mansukh Mandaviya, Civil Aviation Minister Jyotiraditya Scindia, Railway Minister Ashwini Vaishnaw and other ministers took charge of their respective offices on Thursday, a day after taking oath at a ceremony held in the Darbar Hall of the Rashtrapati Bhavan.
This will help employers keep a track of the diseases workers could suffer from while doing their jobs.
Once approved by the finance ministry, the rate hike will benefit six crore EPFO subscribers.
Ahead of the Union Cabinet expansion on Wednesday, several Union Ministers, including Health Minister Dr Harsh Vardhan, Education Minister Dr Ramesh Pokhriyal Nishank and Labour Minister Santosh Gangwar resigned from their posts.
The UN report stated that China has committed to "other predominantly Muslim communities" in Xinjiang Uyghur Autonomous Region
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.
'The rate of interest from the EPF is still attractive compared to the rates on fixed deposits, National Savings Scheme, Public Provident Fund...'
As voting begins in Bihar in the first phase of assembly elections on Wednesday, the fate of political leaders depends on how the electorate perceives they can solve ground-level issues from reverse migration to tackling the COVID-19 pandemic.
The team also visited Tizit Police Station to meet the cross section of the society including civilians, police personnel and doctors who treated the injured for obtaining valuable information, he said.
Yashvardhan Kumar Sinha was appointed as the chief information commissioner on Saturday, according to a Rashtrapati Bhavan statement.
Experts say, these leave many matters to the discretionary powers of bureaucrats, rather than providing them explicitly in the rules.
In his address after more than 75,000 people were given appointment letters for various government jobs in the first tranche, Modi acknowledged the challenges facing the economy the world over with many countries hit by a record inflation and unemployment and said India is making every effort to come out of the situation unscathed.
The members of these trusts enjoy tax and other benefits at par with EPFO subscribers.
Chief Minister Mamata Banerjee sought Prime Minister Narendra Modi's intervention on Wednesday in the alleged "whimsical" functioning of the railways in sending Shramik Special trains to West Bengal and urged the Bharatiya Janata Party-led Centre not to pursue politics when the state is battling a dual crisis due to the COVID-19 pandemic and trail of destruction left behind by Cyclone Amphan.
In a communication to chief secretaries of all states and union territories, Union home Secretary Ajay Bhalla said the ministry of home affairs, under the Disaster Management Act, has allowed manufacture or production, transport and other related supply-chain activities in respect of essential goods like foodstuff, medicines and medical equipment during the 21-day lockdown.
