The government has asked the Employees Provident Fund Organisation (EPFO) to begin parking three to five per cent of its subscribers' retirement funds in stocks for better returns -- a move that would also increase flow of funds to capital markets by up to Rs 13,000 crore (Rs 130 billion).
The FIC meeting will decide on whether to park a portion--to the tune of three to five per cent--of the fund's corpus of Rs 2.71-lakh crore, into the equities markets.
Centre meets target of 18,000 villages but household metering remains a challenge
People are increasingly being drawn to trusty small savings instruments
The Union Cabinet on Thursday approved the Unorganized Sector Workers' Social Security Bill, 2008, incorporating one of the key recommendations of the paliamentary standing committee -- making social security a legislated right.
43-year-old Ashutosh Astana, who has been in jail since his arrest in January last year, was found unconscious in this cell at around 1400 hrs , Jail Superintendent V K Singh told PTI. "He was sweating a lot and was rushed to the district MMG government hospital but doctors there declared him brought dead," Singh said, adding the exact reason of his death is yet to be ascertained.
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.
PFRDA will invite bids to appoint pension fund managers.
Replying to a Calling Attention Motion, labour minister Oscar Fernandes, however, said there will be no amendment to the Employees' Pension Scheme 1995 in the wake of Sixth Central Pay Commission as the two issues are not related. He said two committees, including one headed by a special secretary, have been set up to review the EPF scheme and ensure that it brings better benefits to the employees.
Distressed retailer Subhiksha on Thursday said its 15,000 employees have been unpaid since October last and it has been directed by Employees Provident Fund Organisation (EPFO) to pay the assessed dues at the earliest.
Searches were also conducted at the residential premises of top company officials, the source said.
On retirement, you will draw a lesser amount as pension.
A N Shanbhag, the highly respected investment guru, and his son Sandeep Shanbhag, answer your questions on NRI investment.
The draft Direct Taxes Code unveiled by Finance Minister Pranab Mukherjee on Wednesday proposes raising the tax exemption limit on savings to Rs 3 lakh.
The New Pension Scheme is one of the more ambitious programmes tried out by the government. If successful, it has the power to transform India's savings habits.
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