-PTI NEW DELHI: Retirement fund body EPFO has made it mandatory for its about 50 lakh pensioners and around four crore subscribers to provide either Aadhaar or a proof that they have applied for it till month-end to remain the beneficiary of its social security schemes. "At present it is the correct position that the pensioners as well as members would have to provide Aadhaar or enrolment slips by January 31, 2017,...
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How to get the weave right -Seema Bathla & Prateek Kukreja
-The Hindu The government must target labour market rigidities to maximise gainful employment in the textile sector. India’s textile and apparel industry is all set for an overhaul as the new National Textile Policy will soon be placed before the Cabinet for approval. The government has already accepted a Rs.60 billion special package for this sector with an aim to create 10 million new jobs in the next three years, attract investments...
More »Labour Ministry to trim cos' EPFO coverage threshold to 10 workers
-PTI At present, it is mandatory for firms with 20 or more workers to subscribe to social security schemes New Delhi: In a bid to provide social security to additional 50 lakh workers under retirement fund body EPFO, the Labour Ministry has decided to halve the threshold for coverage of firms to 10 workers through an executive order. At present, it is mandatory under the Employees' Provident Fund and Miscellaneous Provisions Act for...
More »EPFO likely to raise maximum insurance cover to Rs 5.5 lakh
-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...
More »Shankar Aggarwal, Union Labour Secretary, speaks to Somesh Jha
-Business Standard The Centre proposed a slew of measures for workers ahead of Labour Day. Suggesting flexibility for employers in hiring and firing labour, it also proposed provisions for a better compensation package. Union Labour Secretary Shankar Aggarwal tells Somesh Jha both workers and employers should be ready for a change demanded by the new dynamism of the economy. Edited excerpts: * How important is rationalisation of trade unions? Unions are formed so...
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