-Scroll.in Ashwini Vaishnaw based his remarks on EPFO data, which experts say does not present a true picture since a bulk of the employment in the country is informal. Union Minister for Railways, Communications, Electronics and Information Technology Ashwini Vaishnaw on November 24 used the Employees’ Provident Fund Organisation, or EPFO, payroll statistics to claim that an average of about 15-16 lakh jobs are being generated by the Union government every month....
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Is EPFO data right metric to show job creation? No, say experts citing its data limitations -TCA Sharad Raghavan
-ThePrint.in Wage ceiling, mobility of lower-end workers, smaller establishments willfully avoiding registrations among factors that make EPF data flawed indicator, they assert New Delhi: While the government often cites monthly data from the Employees’ Provident Fund Organisation (EPFO) — the latest edition of which was released on Friday — to show that formal sector employment is growing in India, economists say that the data is flawed, prone to inflation and captures only...
More »Santosh Gangwar oversaw mass transfers in EPFO hours before stepping down -Vikas Dhoot
-The Hindu Nearly 120 senior officers reshuffled just hours ahead of Cabinet expansion The day before Prime Minister Narendra Modi rejigged the Union Ministerial Council, there was another major reshuffle under the administrative watch of an outgoing minister — in a statutory body tasked with managing lakhs of crores of rupees. Nearly 120 top officials in the Employees’ Provident Fund Organisation (EPFO) that oversees the retirement savings of India’s formal workforce, were transferred...
More »Rework social security code for informal workers -Santosh Mehrotra and Kingshuk Sarkar
-The Hindu Business Line It needs to be simplified, avoiding multiple authorities and allowing for seamless integration of existing State-run schemes The Code on Social Security 2020 (SS Code) was passed in Parliament in September 2020 and obtained presidential assent. Thankfully, its implementation has been postponed due to States not issuing notifications. Now, due to the Covid crisis, implementation of all the four new Codes on labour is to be postponed to...
More »Government withdraws order on rate cut on small savings schemes -Vikas Dhoot
-The Hindu This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016. Hours after notifying significant cuts in small savings instruments’ returns for this quarter, the government has backtracked on these sharp cuts. This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after...
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