-Press Information Bureau/ Ministry of Labour & Employment The Union Minister of Labour & Employment, Steel and Mines, Shri Narendra Singh Tomar announced the launch of a guaranteed minimum pension of Rs 1000 per month under Employees' Pension Scheme, 1995. Speaking to journalists at a press conference in here today, he said, the Union Government has decided to organize functions in every office of the Employees Provident Fund Organisation spread across...
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Labour ministry okays new scheme for inspection -Somesh Jha
-The Business Standard A CAIU will be set up to analyse and collect field data for a transparent and accountable labour inspection system The Union labour ministry has approved a more liberal inspection scheme aimed at simplifying business regulations and bringing "transparency and accountability" in the system. For this purpose, a Central Analysis and Intelligence Unit (CAIU) will be set up to analyse and collect field data "for a transparent and accountable labour...
More »Sahara India under EPFO scanner for payment defaults-Surabhi
-The Indian Express Sahara India, which is already being investigated by market regulator Sebi, has now also come under the scanner of the provident fund department and is amongst the top defaulters of the Employees' Provident Fund Organisation (EPFO) in the country. Five of the group firms including Sahara India Financial Corporation and the former Sahara Airlines are part of the top 50 companies in the country that have defaulted on depositing...
More »Aadhaar numbers sought
-Deccan Herald Bangalore: The Employees’ Provident Fund Organisation has requested the employers to furnish the Aadhaar numbers of their existing PF subscribers to embed the information in the bank accounts of beneficiaries. The schemes of the EPFO involving transfer of benefits to beneficiaries have been identified for implementation of direct cash transfers from January 1, 2013. The Organisation has asked the employers to maintain the information in excel format till the...
More »EPFO to include 'AAA' rated corporate bonds in portfolio-Raj Kumar Ray
-The Indian Express The Employees' Provident Fund Organisation is set to widen its investment horizon by including 'AAA' rated corporate bonds of any private company in its portfolio following a clean chit from Crisil, a move that can open up a window for blue-chip corporates to raise about Rs 35,000 crore through long-term debt papers annually. Crisil, which was appointed by EPFO to advice on investment portfolio, has said that none of...
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