On 18 Nov, Pension Fund Regulatory and Development Authority (PFRDA) conducted a workshop on National Pension System (NPS) for Corporates in Mumbai. The workshop was organized in association of Maharashtra FICCI. The workshop revealed that overall number of NPS and APY subscribers in the country has crossed 3.12 crores with Asset under Management (AUM) of ..
Indian labour law: GK, Current Affairs, Questions, Trivia and News
As per the provisions of the PFRDA Act, the Overseas Citizens of India (OCI) will now be eligible to apply for the National Pension System (NPS) at par with Non Resident Indians (NRIs). Now, any Indian citizen, resident or non-resident and OCIs are eligible to join NPS till the age of 65 years. The contributions ..
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 ..
The government of Rajasthan has launched the Jan Soochna Portal to enhance transparency and accountability and empower the right of the people to seek information. The portal is developed under the RAJasthan Innovation Vision (RAJIV). Jan Soochna Portal The portal creates a streamlined system for public information to prevent anomalies and corruption. The portal provides ..
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 ..
The Employees’ State Insurance Corporation (ESIC) has partnered with State Bank of India (SBI) for direct transfer of benefits electronically into bank accounts of all stakeholders. As per pact, SBI will provide e-payment services directly to bank accounts of all ESIC beneficiaries and payees without any manual intervention as an integrated and automated process. The ..
Government of India reduces rate of contribution under Employees’ State Insurance (ESI) Act from 6.5% to 4.0%
The Union Government has taken a historic decision to reduce the salary contribution of industrial workers who are eligible for healthcare benefits under the Employees’ State Insurance Act (ESI) Act from 6.5% to 4.0%. The move is aimed at formalizing India’s informal workforce and expanding social security coverage. The reduced rates will be effective from ..
Election Commission has approved to revise the wages under the MGNREGA ( Mahatma Gandhi National Rural Employment Guarantee Act) scheme under the request of Rural Development Ministry from 1st April. The new wages has been notified which will be linked with the Consumer Price Index for agricultural labourers. The increase could be up to 5 ..