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Significant beneficial owners in companies to face strict action for wrong disclosures

Significant beneficial owners, who fail to make a declaration regarding their ownership, could face fine, imprisonment or both under the Companies Act. In instances, where such entities have willfully provided incorrect information, then such acts would be considered as fraud under the Act. Similarly, companies that fail to maintain registers of significant beneficial owners would also face action, as per the rules. 

Informal sector workers can join PMSYM pension scheme from Feb 15

The monthly contribution by the worker joining the scheme would be Rs 55, with matching contributions from the government. The contributions would rise at higher age. The worker joining the scheme at the age of 40 years would contribute Rs 200, while workers at the age of 29 years would pay Rs 100. The scheme will cover unorganised workers who are working or engaged as home based workers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, rickshaw pullers, landless labourers, agricultural workers, construction workers, among others. < .. 

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