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Cabinet clears Wage Code Bill, 5 points which will explain its meaning
Thu, Jul 27, 2017
Labour Code on Wages Bill, 2015, states, "A BILL to consolidate and amend the law relating to wages and bonus and the matters connected there with or incidental thereto."
'Universal pay' may soon be a reality in India; find out what it is
Mon, Jun 12, 2017
Government of India is readying Universal Wage Code Bill which aims to end pay-gap. The minimum income guarantee applies also for those workers, who are earning more than Rs 18,000.
EPFO approves hike in investment limit in ETFs to 15%
Sun, May 28, 2017
In a meeting of the Central Board of Trustees (CBT) held in Pune on Saturday, Union Labour Minister Bandaru Dattatreya said that the Employees' Provident Fund Organisation (EPFO) has approved hike in investment limit in exchange traded funds (ETFs) to 15%, from the existing 10%.
EPFO: Central Board of Trustees rejects proposal to reduce PF contribution to 10%
Sun, May 28, 2017
The Central Board of Trustees (CBT), a retirement fund body of EPFO, has turned down the proposal to reduce the mandatory provident fund (PF) contributions from workers and employers from present 12% to 10% in a meeting held in Pune on Saturday.
EPFO to take call on increasing ETF investment to 15%: Labour Minister
Mon, May 22, 2017
The Finance Ministry had earlier notified a new investment pattern for EPFO, allowing the body to invest a minimum of 5 per cent and up to 15 per cent of its funds in equity or equity-related schemes.
EPFO settlement: Labour Minister launches website to bring down claims
Wed, May 17, 2017
Ministry said that Citizen' Charter 2017 will make service delivery system and grievance redressal mechanism more efficient so that it delivers goods and services to its stakeholders in a time bound manner.
EPFO trustees likely to raise ETF investments to 15% on May 27
Sun, May 14, 2017
The trustees of retirement fund body EPFO are likely to raise the investment limit in exchange traded funds (ETFs) to 15% of the investible deposits, from 10% at present in the current fiscal.
You can withdraw 90% EPF to buy home, pay EMI from account
Mon, Apr 24, 2017
The withdrawal facility from the PF account will be available to only those PF members who fulfil the conditions prescribed.
Finance Ministry okays 8.65% interest on EPF
Sun, Apr 16, 2017
According to EPFO estimates, the fund will see a surplus after providing 8.65% interest rate for the last fiscal.
EPFO to provide 8.65% interest on EPF for FY17: Bandaru Dattatreya
Thu, Apr 13, 2017
Labour Minister Bandaru Dattatreya said on Thursday that EPFO has decided to provide 8.65% interest rate on provident fund (PF) deposits for the financial year 2016-17 (FY17).
EPFO may invest up to 15% of investable amount in equity markets
Sun, Mar 19, 2017
Dattatreya said the EPFO through fund managers had invested 14,700 crore in ETFs in the current financial year.
Govt to amend EPF scheme to enable subscribers to withdraw 90% of funds for buying homes
Wed, Mar 15, 2017
The proposed EPF scheme will enable around four crore members of retirement fund body EPFO to withdraw up to 90% of their fund for making down payments while buying homes.
Bluechip PSUs eye EPFO funds
Tue, Jan 10, 2017
"As of now, about seven PSUs came forward to take investments from us (EPFO). We received a communication from the Ministry of Finance to increase our investments in PSUs. The return may be higher than what we are getting now," said Labour Minister.
No more cash: All wages to be paid via bank transfer, cheques
Wed, Dec 21, 2016
He said, "It has been decided to substitute section 6 of the Act so as to enable the employer to pay the wage to the employed person also by cheque or crediting it to their bank account."
Govt weighing hike in EPFO wage ceiling to Rs 25,000
Mon, Dec 05, 2016
Despite being pressed by trade unions on different fora, the government has not taken a decision in this regard, especially when it has already increased threshold for coverage under the Employees' State Insurance Scheme (ESI) to Rs 21,000 per month in October last year.
EPFO invests Rs 9,723-crore in ETFs, earns 9.17% absolute return
Mon, Nov 28, 2016
Retirement fund body EPFO has invested Rs 9,723 crore in exchange traded funds (ETFs) till October this year while absolute return on these investments was 9.17%, Parliament was informed on Monday.
Govt to issue notification on interest of 8.8% on 'inoperative' PF accounts
Tue, Nov 01, 2016
The Government of India will soon issue a notification authorising retirement fund body Employees Provident Fund Organisation (EPFO) to pay 8.8% interest to 'inoperative' accounts, said Union Labour Minister Bandaru Dattatreya on Monday.
EPFO to invest Rs 13,000 crore in ETFs in FY17: Bandaru Dattatreya
Thu, Sep 29, 2016
Brushing aside strong opposition from the unions, Labour Ministry on Thursday doubled EPFO's investment limit in ETFs to 10% that will result in Rs 13,000 crore of the retirement fund body flowing into stock markets in the current fiscal.
ESIC hikes monthly wage threshold to Rs 21,000: Bandaru Dattatreya
Tue, Sep 06, 2016
The Employees' State Insurance Corporation (ESIC) on Tuesday raised the monthly wage threshold to Rs 21,000, from the current Rs 15,000, for coverage under its health insurance scheme.
Central govt hikes minimum wages for unskilled workers to Rs 350 per day
Tue, Aug 30, 2016
The Government of India on Tuesday announced a hike in minimum wage for unskilled non-agricultural workers to Rs 350 per day in an attempt to calm trade unions that have threatened to go on a nationwide strike on September 2.