In a surprise decision, the Karnataka High Court recently struck down provisions relating to International Workers, introduced in October 2008, as unconstitutional and arbitrary. The International Worker (IW) provisions were introduced by the Central Government vide the Employees’ Provident Funds Scheme, 1952 (‘EPF Scheme’) and the Employees’ Pension Scheme, 1995. As per these provisions, a foreign … Read more
The Universal Account Number (‘UAN’) is a unique 12-digit number that is given to each member of the Employees’ Provident Fund Organization (EPFO). Through the UAN, PF members can easily manage their accounts. Ideally, a member should have only one UAN which can be used throughout their tenure. Radhika Viswanathan, Executive Director, Deloitte Haskins & … Read more
Home Minister Amit Shah tells Lok Sabha that the government is ready for discussion Union Home Minister Amit Shah told the Lok Sabha on July 24 that the government was ready for a discussion on Manipur on the floor of the House as the country needs to know the truth about the sensitive situation in the State. Union … Read more
Risk environment for Indian businesses has worsened in the first quarter of the current fiscal due to restrictions imposed to deal with the second wave of Covid even as things are showing signs of improvement in the second quarter, a study by risk management and monitoring platform Rubix Data Sciences has shown. Rubix analysed the … Read more
The Employees Provident Fund Organisation has raised a demand of Rs 33.97 crore from the Sahara Group companies and the matter is now sub-judice, state labour and employment minister Rameswar Teli said in response to a question in the Lok Sabha on Monday. “A demand for an amount of Rs 33, 97, 30,000 has been … Read more
Pension Fund Regulatory and Development Authority of India (PFRDA) has registered 23 per cent growth in its subscriber base under the flagship NPS and APY schemes to over 4.24 crore by end of March 31, 2021, the regulator said on Thursday. The last year was an extremely challenging year because of COVID-19 restrictions, but still … Read more
New Delhi: India could throw open its key social security scheme — the Employees’ Provident Fund to individuals, a top government official told ET. The move is expected to help the government expand social security coverage to more than 90% of workers not falling under any social security scheme at present. Lawyers, doctors, chartered accountants … Read more