Retirement fund body EPFO has settled 56.79 lakh COVID-19 non-refundable advance claims, and has disbursed Rs 14,310 crore till December 31, 2020, reflecting the adverse impact of the pandemic on the formal sector workforce. When the coronavirus-induced lockdown was imposed in March, the central government had allowed over 6 crore subscribers of the Employees‘ Provident … Read more
New Delhi: Delhi Deputy Chief Minister Manish Sisodia claimed on Thursday that East and North municipal corporations in the national capital are “bankrupt” and are not in a position to pay salaries to their employees. “North and East municipal corporations are bankrupt, they have Rs 12 crore and Rs 99 lakh in their bank accounts … Read more
Delhi government on Thursday announced that its employees can take cash equivalent of leave travel concession (LTC) if they opt for it, in a bid to boost the consumer spending during the festive season. The Aam Aadmi Party (AAP)-led Delhi government said a special festival package of advance will be also be accorded to all … Read more
The Indian Railways has said about 11.58 lakh of its non-gazetted employees have been granted bonus equivalent to 78 days’ wages for FY 2019-20. The government hopes that bonuses to central government employees will help encourage spending during the festive season and add to demand in the economy (PTI photo) The Indian Railways on Thursday … Read more
New Delhi: Net new enrolments with retirement fund body EPFO rose to 10.05 lakh in August from 7.48 lakh in July 2020, according to its latest payroll data, providing a perspective on employment in the formal sector amid the coronavirus pandemic. Provisional payroll data released by the EPFO last month had shown that net new … Read more
The government on Monday announced two measures aimed at increasing consumer spending — the LTC Cash Voucher scheme and Special Festival Advance Transfer scheme. The schemes primarily focus on offering cash benefits to central government employees as the government believes that it will lead to higher consumer spending during the festive season. Both schemes that … Read more
In a move aimed at improving the ease of doing business, government has allowed bulk transfer of provident fund from exempted establishments to the Employees‘ Provident Fund Organisation in one go. The move is expected to benefit 1500 exempted establishments of EPFO. Till now exempted establishments had to approve and transfer the funds one-by-one for … Read more
New Delhi: Retirement fund body EPFO on Friday said it has settled 46 lakh EPF withdrawal claims and disbursed Rs 920 crore to its subscribers to meet exigencies due to the COVID-19 situation. Under Pradhan Mantri Garib Kalyan Yojna (PMGKY), the government had made a provision for a COVID-19 non-refundable advance facility. The scheme was … Read more
The labour ministry has proposed to provide 50 per cent average per day earnings of the subscriber during four contributory periods in the past two years for 90 days of unemployment, as against 25 per cent provided earlier. Synopsis The labour ministry has moved a proposal to amend the conditions under the Atal Beemit Vyakti … Read more