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Retirement fund body EPFO has registered 13.41 lakh net new members addition in October 2024, according to showed latest payroll data. This signifies increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO's effective outreach initiatives, a labour ministry statement said on Wednesday.
Ahead of the Haryana Assembly polls, the Congress on Wednesday announced seven guarantees, including the promises of a legal guarantee for minimum support price (MSP) and a caste survey, if voted to power.
Rules being drafted, to also cover unorganised sector; maternity benefit, old age pension, sickness allowance to be included
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.
The Union Cabinet on Wednesday approved a social security scheme to be implemented as a pilot project as a prelude to a central legislation for the unorganised sector
The opposition Maha Vikas Aghadi on Sunday released its manifesto for the Maharashtra assembly polls, promising free cervical cancer vaccines for girls aged 9 to 16 and and two optional leave days for women employees during menstruation.
The Supreme Court of India expressed concerns about the long-term sustainability of providing free rations to migrant workers, emphasizing the need for job creation and capacity building instead. The court's remarks came during a hearing on the ongoing issue of providing relief to migrant workers, a matter that gained prominence during the COVID-19 pandemic. The court questioned the government's reliance on freebies and stressed the importance of creating opportunities for migrant workers to become self-sufficient. The debate highlighted the challenges of balancing immediate relief with long-term economic solutions for vulnerable populations.
'More investors now view the stock market as a valuable opportunity, though many still seek quick gains, leading to a rise in futures and options trading.'
India will sign a bilateral social security agreement with France during Prime Minister Manmohan Singh's visit to the European nation on Tuesday.
'This agreement will help the Indian workforce to move to non-traditional sectors of employment like teaching, nursing, and manufacturing.'
National Advisory Committee-pushed plan might be part of Budget 2013-14.
In 2023, the number of kindergartens fell by 14,808 to 274,400, the annual report by the Chinese education ministry stated. It is the second consecutive annual decline in the latest indicator of China's falling birth rates.
The National Social Security Number will be issued to the 4 crore (40 million) members covered by the scheme on the lines of the Permanent Account Number (PAN) given by the income tax department.
A group comprising top tech startups and unicorns has raised several "serious concerns" over a platform-based gig workers Bill proposed by the Karnataka government, saying it would hurt the ease of doing business. They told the state government the Bill in its current form would hamper operations and increase regulatory and compliance burden on the nascent gig and startup economy, according to sources.
'We are happy that the money has come to us immediately after it was announced.' 'For once, the government did what it promised.'
It is proposed to provide a combined upper limit of Rs 7.5 lakh in respect of employer's contribution in a year to NPS, superannuation fund and recognised provident fund and any excess contribution is proposed to be taxable.
Vice President Kamala Harris, who is the Democratic presidential candidate, in an op-ed on Saturday, recollected her frequent visit to India as a child, and her mother's mission to cure cancer.
"We are interested in a social security dialogue. We have discussed with the US side on the conclusion of what is called a totalisation of agreement by our IT companies," India's new envoy to the US Meera Shankar said at a reception hosted in her honour by the US-India Business Council.
The number of fresh formal jobs generated in a month increased to a seven-month high in April, signalling a recovery in the formal labour market in the country, according to the latest monthly payroll data released by the Employees' Provident Fund Organisation (EPFO) on Thursday. In April, the number of new monthly subscribers under the Employees' Provident Fund (EPF) sequentially increased by 18.77 per cent to 887,438 from 747,146 in March.
Employees Provident Fund Organisation (EPFO) will migrate to a new information technology (IT) system within the next three months, Union labour minister Mansukh Mandaviya said on Wednesday. In July last year, a clutch of officers at the retirement fund body had written a letter to the Central government complaining about archaic and "collapsing" software systems. Subscribers too were facing problems due to it.
The ministry of labour and employment plans to implement social security programmes only for the poorest of the poor in the unorganised sector, to begin with.
The amendments in the Unorganised Sector Workers' Social Security Bill 2007, approved by the Union Cabinet, seek to facilitate formulation of social security schemes for unorganised workers, Information and Broadcasting Minister P R Dasmunsi told reporters in New Delhi. He said efforts will be made to ensure passage of the Bill, pending in the Rajya Sabha, during the next session of Parliament.
Overseas Indian Affairs Minister Vayalar Ravi said in New York on Friday that New Delhi is trying to negotiate for an agreement with the Bush Administration under which temporary Indian workers in the US would not have to pay social security taxes.
The Employees' Provident Fund Organisation (EPFO) is considering raising the monthly minimum wage ceiling from Rs 15,000 now to improve the coverage and bring millions of informal workers under its purview. The last increase in the minimum wage ceiling was in 2014 to Rs 15,000 from Rs 6,500.
Finance Minister Arun Jaitley announced several reforms.
Recognising job creation for the youth as the foremost challenge for the economy, Finance Minister Nirmala Sitharaman on Tuesday announced a comprehensive Prime Minister's package to facilitate the employment and skilling of 41 million youth with a central outlay of Rs 2 trillion over the next five-year period. The package will consist of five schemes and initiatives - three focused on jobs and two on skilling.
Retirement fund body EPFO recorded a net addition of 19.94 lakh members in July this year, the labour ministry said on Monday. Union Labour Minister Mansukh Mandaviya said at a press conference that 10.52 lakh new or first-time workers subscribed to social security schemes run by Employees' Provident Fund Organisation (EPFO). The minister said almost 20 lakh net new members addition (19.94 lakh) was recorded in July this year.
India has performed poorly in providing social security protection to its people until recently with "very high vulnerability" to poverty and informal labour practices in the world, according to the International Labour Office.
The move can help mop up about Rs 1.2 lakh every day for the purpose.
Anguished over the Cabinet referring the Social Security Bill to a GoMs, members of a tripartite labour committee demanded that a legislation to provide social security to the unorganised sector be passed at the earliest.
The Indian economy needs to generate an average of nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to cater to the rising workforce, according to the Economic Survey for 2023-24. The Survey tabled in Parliament on Monday also laid emphasis on the private sector's role to create employment in the country saying "In more than one respect, the action lies with the private sector. "In terms of financial performance, the corporate sector has never had it so good."
The Securities and Exchange Board of India (Sebi) has permitted 100 per cent contribution from non-resident Indians (NRIs) and overseas citizens of India (OCIs) in the corpus of foreign portfolio investors (FPIs) based out of Gujarat International Finance Tec-City (GIFT City), the country's international financial services centre (IFSC). However, the Indian diaspora is yet to fully embrace this new route. The regulator allowed this route to enhance the fund ecosystem at GIFT City and attract genuine investments from overseas Indians.
'Given our turbulent neighbourhood, the prime minister is likely to emphasise on democratic dividend as the reason behind India's continuous prosperity.'
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