-PTI NEW DELHI: Retirement fund body EPFO is likely to increase the maximum amount assured under its Employees' Deposit Linked Insurance Scheme (EDLI) to Rs 5.5 lakh from the existing Rs 3.6 lakh. The proposal to raise the insurance benefit for over six crore subscribers of the Employees' Provident Fund Organisation (EPFO) will be put up for approval of Pension and EDLI Implementation Committee on September 9, as per the agenda of...
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Bharat Bandh: All you need to know about the trade unions strike -Sai Nidhi
-DNA The nationwide one day strike according to the trade unions is supposed to be the biggest strike ever in the country. This protest is a strike against the anti-worker economic policies of the government. 10 central trade unions have declared a nation-wide strike on September 2 which is said to impact essential services. This strike is to protest against the changes that have been made in the labour laws by...
More »Minimum wages act: With eye on basic wage rate, Centre plans amendments -Surabhi
-The Indian Express The objective is to ensure that a standard minimum wage rate exists for all kinds of occupations. The government is seeking to significantly boost incomes of the country’s lowest paid workers by substantially raising the minimum wages payable to them, mandating payments through formal banking channels and ensuring they get social security benefits like provident fund and medical insurance. Fresh amendments are being readied to incorporate these changes to...
More »Labour meet proposes social security schemes for workers -Somesh Jha
-Business Standard No consensus as yet on social security code Even though the Indian Labour Conference (ILC) could not build a consensus on forming a labour code on social security schemes, it recommended a slew of measures to broaden their coverage. The two-day conference, a tri-partite platform of trade unions, industry and the government, concluded here on Tuesday with a series of recommendations. It recommended that Employees' State Insurance Corporation (ESIC) coverage be expanded...
More »Atal Pension Yojana: Guaranteed, but low pension -Anand Kalyanaraman
-The Hindu Business Line The Atal Pension Yojana is intended as a safety net for workers in the informal sector The Atal Pension Yojana (APY), like the National Pension System (NPS), seeks to provide monthly pension to subscribers from the age of 60. While the APY is open to all citizens of India between 18-40 years, it is focussed on workers in the unorganised sector. Guaranteed pension The scheme has been tailored to make it...
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