Under the Social Security code, aggregators are now required to...
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Over 50 lakh Central government employees and nearly 69 lakh pensioners to gain from 8th Central Pay Commission
The Centre currently employs 50.14 lakh personnel, while pensioners...
Social security coverage rises to 64% from 19% in 2014: Mansukh Mandaviya
Labour and Employment Minister Mansukh Mandaviya noted that 94...
Employees Provident Fund Organisation (EPFO) will soon launch the “EPFO 3.0 version,”with ATM withdrawal
"In the coming days, EPFO 3.0 version will come. This means EPFO will become equivalent to a bank. Like how transactions are carried out in a bank, you (EPFO subscribers) have your Universal Account Number (UAN) and you will be able to do all your work," Union Labour...
SC issues contempt notice to Punjab for failing to implement pension scheme
"In spite of repeated undertakings given to the high court, compliance has not been made by the state government. Therefore, we issue showcause notice to K A P Sinha, chief secretary, State of Punjab calling upon him to showcause why action under the Contempt Of...
China to ‘formulate’ policies for elderly, focus on boosting birth rates
China's population fell for a third consecutive year in 2024, as marriages plummeted by one-fifth, the biggest drop on record, despite efforts by authorities to encourage young couples to wed and have children. Rapid ageing has become a growing concern in the world's...
Relevance of gold as asset class to rise in coming years Nageswaran
Chief Economic Advisor V Anantha Nageswaran said it is very important to remember the relevance and the importance of gold for a portfolio, a store of value etc, more so in the backdrop of the likely ascending importance of gold in the coming years. New Delhi: Gold...
EPFO retains 8.25 pc interest rate on employees’ provident fund deposits for 2024-25
The retirement body had paid 50.8 million claims worth Rs 2.05 lakh crore in 2024-25, up from 44.5 million claims totaling Rs1.82 lakh crore in the previous year. The 8.25 per cent interest rate in 2023-24 was based on EPFO’s record investment income of Rs 1.07 lakh...
Demographic reality – a growing elderly population with fewer working-age people
Jad Ariss, managing director of the Geneva Association, said: “The longevity revolution is one of the defining challenges – and opportunities – of our time. Insurers are uniquely positioned to help people navigate longer lives. This will require bold innovation and...
DFS Secy launches LIC’s new Pension plan
M.P. Tangirala, additional secretary, M. Nagaraju, secretary, financial services, Ministry of Finance, M Jagannath, managing director, LIC at launching ceremony of LIC's new Pension plan LIC’s smart pension plan is a non-par, non linked, Individual/Group, savings, and...
Finmin notifies assured pension scheme for govt employees, to be effective from April 1
The notification will give the option to 23 lakh government employees to choose between UPS and NPS, which came into effect on January 1, 2004.The notification added that the rate of full assured payout will be 50% of 12 monthly average basic pay, immediately prior to...
Mandaviya directs EPFO officials to improve claim settlement, grievance redressal
NEW DELHI: Union Labour Minister Mansukh Mandaviya on Friday directed retirement fund body EPFO officials to further streamline claim settlement process, ensure timely grievance redressal, and adopt a public-friendly approach during a review meeting. Mandaviya...
Karnataka High Court rules employer can’t forfeit gratuity without recovery proceedings
The judgment clarified that dismissal is a punitive action taken against an employee following due process but does not automatically entitle the employer to retain dues Bengaluru: The Karnataka High Court has ruled that an employer cannot withhold or forfeit the...