Page-4 of Indian labour law Current Affairs, GK & News

Recent Government Steps to Make Savings Process simpler for Small Savers

The government has taken steps to make the life easier for small savers and also ensure the motto of ‘minimum government, maximum governance’. Steps taken to ease the life of small savers are It proposed the Government Savings Promotion Act by merging the Public Provident Fund (PPF) Act of 1968, the Government Savings Banks Act ..

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Model Shops and Establishments (Regulation of Employment and Conditions of Service) Bill, 2016

In June 2016, the government had come out with Model Shops and Establishment (Regulation of Employment and Conditions of Service) Bill, 2016. It was sent to States/UTs so that they will be able to modify their individual Acts, if they so desire. The States/UTs can either adopt the Bill as it is or modify its ..

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Pension regulator PFRDA increases maximum age of joining National Pension Scheme (NPS) Private Sector from 60 to 65

The Pension Fund Regulatory and Development Authority (PFRDA) has increased the maximum age of joining National Pension Scheme (NPS) Private Sector from the 60 to 65 years of age to increase the pension coverage in the country. Now, any Indian citizen, resident or non-resident, of 60-65 years of age can join the NPS and continue ..

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Voluntary Provident Fund

Voluntary Provident Fund (VPF) refers to the voluntary contribution that an employee makes towards his Provident Fund Account over and above the mandatory 12% of his basic salary. VPF is fixed at a proportion of the salary and its percentage cannot be reduced or increased midyear. VPF is available only to salaried employees and is ..

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PFRDA eases registration norms for Fund Managers of NPS

With an objective to give impetus to the National Pension System (NPS), the Pension Fund Regulatory and Development Authority (PFRDA) eased norms for registration of pension fund managers. This move will induce greater competition by removing cap on the number of Pension Fund Managers (PFMs). It has notified a revised set of guidelines for registration ..

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