Employee Deposit Link Insurance Scheme Amendment 2016

Posted by & filed under Provident Fund Benefits.

The Government of India has finally implemented the decision of increasing the maximum sum limit assured under insurance scheme of retirement fund body Employee Provident Fund Organisation, popularly termed as EPFO, to 6 lakh rupees. This would almost double the maximum sum for its 4 crore subscribers. The decision was, however, taken long back in September… Read more »

Grant of exemption to all retail enterprises from sections 7 ,9, 12, 23, 31 and 37 of the Act to keep open every day of the year for a period of Five(5) years

Posted by & filed under Andhra-Shop & Establishment.

In the G.O 1ST read above , the Industries and Commerce (P&I) Departmenthave issued orders on Andhra Pradesh retail trade policy 2015-20, focusingsimplification of labour laws & processes, skill development support and single desk clearances, so as to stimulate growth in the Retail Sector for a period of 5 years from the date of notification. Synopsis of… Read more »

Daman Minimum Wages 2016

Posted by & filed under Minimum wages-Daman.

In addition to the Basic Pay fixed by the Administration of Daman & Diu in respect of all the scheduled employments under the Minimum Wages Act, 1948 vide notification No.LE/LI/DMN/MWA-3(II)/2015-16/81 dated 29.05.2015, the daily rate of Variable Dearness Allowance (VDA) payable on the cost of living index number is increased at the rate of L 9.50/- with effect from… Read more »

New PF Facility Launched For Easy Balance Transfer: Your 10-Point Guide

Posted by & filed under Provident Fund Benefits.

Many employees forget to transfer the balance from their previous provident fund (PF) accounts when they change jobs. Some of them even withdraw the money from PF account. Since PF is meant for one’s retirement years, financial experts suggest that the accumulated savings should not be withdrawn during one’s working years. To encourage employees consolidate… Read more »

The Government of India amends Employees’ Pension Scheme allowing members to contribute till 60 years of age

Posted by & filed under Provident Fund - (Notification -Circulars).

Key amendments in the notification Under the EPS, a new provision under sub-paragraph (7B) of paragraph 12 has been inserted enabling the following benefits: a) Contributions allowed after the age of 58 years but not beyond 60 years  A member may opt to continue contributions under EPS till the age of 60 years if the… Read more »

Epfo Launches a Special Drive :Mission Consolidation”One Employee-One Account” on May Day

Posted by & filed under Provident fund -News.

A Software also Launched for Centralized Processing to Transfer and Consolidate Accounts with Ease EPFO Greets the Human Engines of Nation – Our Labour Force on International Labour Day Greeting workers on International Workers Day with the. Sh. Bandaru Dattatreya, the Union Minister for Labour & Employment (Independent Charge) launched a special Mission consolidation drive “One Employee-One EPF Account”… Read more »