Economic slowdown hits jobs sector: SBI report
India is projected to create 16 lakh less jobs in FY20, according to a SBI research report.
Government to slash time taken to start new business to 5 days
The government is set to slash the time taken for starting a new business from...
Fewer new jobs in FY'20: Report
While the EPFO data suggests that annualised new enrolments could be 106.2 lakh crore for FY’20, the SBI rese...
With four labour codes, 2020 to be a 'year of reforms': Santosh Gangwar
Entering 2020, the government hopes that India would be able to implement all four codes on wages, industrial relations, social security and occupational safety, health and working conditions. These are expected to improve ease of doing business and safeguard interest of workers.
Labour Ministry mulls 'Santusht' portal in Jan for speedy resolution of grievances
Initially, Santusht (Hindi for satisfied) would monitor all services provided by retirement fund body EPFO and health insurance and services provider ESIC to formal sector workers. Later, the portal would cover other wings of the ministry as well. It would also have data on real time basis to assess the performance of each and every official.
PFRDA may become regulator for all pension products
The Finance Ministry and board of regulators have given an in-principle nod to the proposal. Once the PFRDA Act is amended, it could give powers to the regulator to manage the handling of NPS trust to the government.
Currently there are 4.5 crore active EPFO members: Labour minister
“The number of active members under EPFO, at present, are 4,50,60,972 (contributing UANs of last three wage months viz. August, 2019 to October, 2019)," said labour and employment minister Santosh Kumar Gangwar .
Pension commutation under EPFO from Jan 1
The move, which comes 10 years after the provision was withdrawn, follows a decision at a recent meeting of the EPFO’s central board of trustees and will benefit around 630,000 pensioners.
Social Security Code Bill introduced in Lok Sabha
The Bill proposes setting up a social security fund using corpus available under corporate social responsibility. This fund will provide welfare benefits to all workers, including gig workers. As per the bill, millions of organised sector employees may soon have the option of reducing their provident fund contribution.
Labour ministry drops the plan to corporatise EPFO
The ministry’s proposal to corporatise the EPFO had faced severe criticism. In its latest draft code released in September, it had proposed a corporate structure to be headed by a CEO.
EPFO to focus on subscribers' convenience, ease of doing business through digital tools in 2020
Employees' Provident Fund Organisation (EPFO) is undertaking several digital initiatives including online Universal Account Number (UAN) generation facility for subscribers and e-inspection system for employers.
Now workers can generate UAN from EPFO portal directly
At present, workers are required to apply through their employers to get the universal account number (UAN), which enables them to avoid filing PF transfer claims on changing jobs. Now they do not have to depend on his or her employer for getting the UAN. The UAN remains the same throughout the life of a worker.
12.23 lakh new jobs created in September: ESIC payroll data
The NSO report is based on the payroll data of new subscribers of various social security schemes run by the ESIC, retirement fund body EPFO and the Pension Fund Regulatory and Development Authority (PFRDA). It has been releasing the payroll data or new subscribers data of these three bodies since April 2018, covering a period starting from September 2017.
Food Corporation of India likely to raise up to Rs 13,200 crore
FCI has appointed about two dozen local arrangers to help raise the money.
Do not share your personal details, bank account, UAN over phone, warns EPFO
EPFO is warning members via its website and social media handles regarding fake phone calls and is also advising them not to share personal details like PAN, Aadhaar, bank account or EPF account details like Universal Account Number (UAN).
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