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Covid – 19 lockdown: Corporates seek loans to pay salaries, PSU banks step up

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MUMBAI: As corporates frantically dial banks seeking help to tide over the Covid-19 crisis, public sector banks have stepped up with emergency funds to aid companies, both small and large, to continue operations, especially pay salaries, said two people aware of the development. At least two state-owned banks, State Bank of India (SBI) and Union […]

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Provide emergency wages to unorganised workers: Sonia Gandhi to PM

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NEW DELHI: Congress president Sonia Gandhi urged Prime Minister Narendra Modi to provide emergency wages as part of a special welfare plan to unorganised sector workers, especially migrant and construction workers, in the wake of loss of work forced by the Covid-19 outbreak. In a letter sent to the PM on Tuesday, Gandhi suggested that the large unspent part of the ₹49,688

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Finance Bill 2020 changes rules on TDS, NRIs and dividends

Leave a Comment / Income Tax & TDS: Updates /

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The Finance bill has been passed by the Lok Sabha, with various key amendments impacting individual taxation, which include relaxation in deemed residency provision, modification to the various TDS sections, etc. The amendment to the residency provision provides that a non-resident who is a Indian citizen or person of Indian origin occasionally visiting India shall

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No salary deduction for contractual staff during Covid-19 lockdown: Centre

Leave a Comment / Labor Law Updates (Central) /

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The Central government issued an order on Monday saying that the salaries of the contract workers associated with its offices will not be deducted if they were compelled to stay at home during the coronavirus pandemic. As a measure of social distancing and to contain the spread of the virus, many state governments have announced a lockdown in India.

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Labour ministry to states, concerned ministries to ensure no job or pay cut by employers amid lockdown

Leave a Comment / Labor Law Updates (Central) /

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NEW DELHI: The labour ministry has asked states and central ministries concerned to ensure that employers do not fire their employees, particularly casual or contractual workers, or reduce their wages amid Covid-19 outbreak as it would deepen the crisis. The ministry has also asked the state and ministries that all employees going on leave during the

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EPFO directs field offices to timely credit pension to 65 lakh EPS beneficiaries

Leave a Comment / EPF Updates & Cases /

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Retirement fund body EPFO on Monday said it has issued directions for timely credit of monthly pension to over 65 lakh employees’ pension scheme (EPS) beneficiaries amid the coronavirus outbreak. The Employees’ Provident Fund Organisation (EPFO) disburses monthly pension to over 65 lakh pensioners every month under the EPS. “Due to the coronavirus pandemic, lockdown

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