Employees' Provident Fund Organisation: Current Affairs, GK & News - 2020-2021

ESIC to pay 50% of 3 months’ average wages as Unemployment benefit

Published: August 21, 2020

In a recent notification, the Employees’ State Insurance Corporation declared to relax their norms, to aid the people who became jobless amid the COVID-19 outbreak with 50% of average wages of three months as unemployment benefit. Highlights The people who lost their job between March 24 and December 31 will get the benefit. A total ..

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EPF contributions to revert to old levels from August

Published: July 30, 2020

As part of relief measures of the Government of India for both employers and employees during the COVID 19 pandemic, Employees’ Provident Fund (EPF) contribution was slashed by 4% for the months of May, June and July but from August onwards, the deduction will be as the old rates. Background In May 2020, the Finance ..

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8.65 Per Cent rate of interest notified for EPFO Subscribers

Published: September 20, 2019

The government has approved 8.65 per cent interest rate on employees provident fund for 2018-19. This will be credited into the accounts of over 60 million subscribers of EPFO. The government had approved an interest rate of 8.55 per cent for 201-18. Central Board of Trustees Recommendation The Central Board of Trustees which is the ..

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Draft Code on Social Security, 2019

Published: September 20, 2019

The draft code amalgamates eight laws. It includes Employees Provident Fund and maternity benefits. The code was published by the Ministry of Labor and Employment. 4 major codes The code on social security will combine 44 labor laws into 4 codes. They are wages, occupational safety, working conditions and health. Unorganized Sector According to the ..

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PM Launches National Pension Scheme for Small Traders and Self Employed Persons

Published: September 13, 2019

Prime Minister Narendra Modi launched the National Pension Scheme for Traders and Self Employed Persons with annual turnover not exceeding Rs 1.5 crore. About the Scheme It is a voluntary and contributory pension scheme for traders in the age group of 18 to 40 years The scheme provides for minimum assured pension of Rs 3,000 ..

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