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PF taxation: Rs 62,500 cr accumulated in EPF accounts of 1.23 lakh HNIs for FY19

by | Feb 4, 2021 | , ,

The Budget 2021-22 has removed the tax exemption status to interest accrued on investments in employees provident fund (EPF) exceeding Rs 2.50 lakh per annum.

The sources in the revenue department said there are a total 4.5 crore contributors in the Employees’ Provident Fund Organisation (EPFO) account. Out of these, more than 1.23 lakh accounts are of the HNIs who contribute monthly huge sums to their EPF accounts.

SJM and Employees’ unions oppose govt’s move to privatise a PSU general insurer

by | Feb 3, 2021 | , , ,

SJM National Co-Convenor Ashwani Mahajan stated that the announcement of privatisation of public sector banks and an insurance company is  worrying.After 2018, that had announced the merger of three PSU general insurers, National Insurance Company, Oriental Insurance Company and United India Insurance Company, which was called off in 2020, the announcement in Budget-2021-22 to privatise one of the PSU general insurers,  has again given rise to conjecture and confusion, said a statement by officials of different uinons, which had supported the mergers of three companies. .

LIC’s prm income from P&G schemes crosses Rs 1 trillion in 10 months

by | Feb 3, 2021 | , ,

This is first time ever any single vertical of the life insurance behemoth has crossed such a gigantic premium income figure successively for two years.
Pension and Group Schemes Vertical of LIC provides employees retiral funds’ management solution to the who’s who of India Inc and has been steadily holding around 80 per cent  market share in new business premium post opening of the life insurance industry.

Majority of companies expect COVID-19 to continue impacting their business next year:Aon Survey 

by | Feb 3, 2021 | , , , ,

Rory Moloney, Chief Executive Officer, Global Risk Consulting, Aon, said: “There is no question that the COVID-19 pandemic will permanently change the way companies operate. There is a long way to go before we are in the ‘post-COVID era’, but as we move towards a recovery phase, companies must now ask what risk management and resilience should look like going forward. Among the top priorities for companies seeking to reshape their business are the new and accelerated use of technology, redeploying resources, workforce planning and rethinking the future of work—this is only the beginning of a much more long-term evolution in risk management.”

 39 pc people in HP suffer from obesity, 11.5 pc diabetic: Study

by | Feb 3, 2021 | , , ,

”Himachal Pradesh ranks seventh in the country in terms of prevalence of type-two diabetes, and has a higher prevalence than the national average as well as its neighbouring states of Punjab, Haryana and Uttarakhand,” he said

The prevalence is same among males and females, but is higher in urban areas as compared to rural areas, Mokta added.

He said that according to the study, around half of those suffering from diabetes have not been diagnosed with the disease and are unaware about the problem.

Over 300 million Indians may have COVID-19 – source citing government study

by | Feb 3, 2021 | , , , ,

Separate tests done on more than 700,000 people across India by diagnostics company Thyrocare Technologies showed 55% of the population may have already been infected, its chief told Reuters last week.

The World Health Organization says at least 60% to 70% of a population needs to have immunity to break the chain of transmission.