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 […]
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
EPFO directs field offices to timely credit pension to 65 lakh EPS beneficiaries Read More »
Seeing the Coronavirus pandemic, Hon’ble Prime Minister has urged the Business Community and Higher Income Groups to not cut salaries or resort to layoffs of their employees. #CoronaVirus #EPFO Join our Telegram Channel for Latest HR – IR – Labor Law Updates – Click: “One Clik” For Whatsapp Group: https://wa.me/919033016939
Message for Employers – Not to Cut Salary Read More »
· Employee Provident Fund: Proposed Interest Rate reduced to 8.50% from 8.65% for FY 2019-20. · Employee Provident Fund: Employees can update their Date of Exit on their own. · Employee Pension (Amendment) Scheme, 2020: As per the notification, employees can restore full pension after 15 years of retirement for pensioners under EPF Scheme who
Labour Law Updates – March-2020 Read More »
Union Health Minister Dr. Harsh Vardhan introduced Medical Termination of Pregnancy (Amendment) Bill, 2020 which was passed by the Lok Sabha on Tuesday to increase Upper limit for Legal Abortions as a welfare for the women. This bill amends the Section 3 of the Medical Termination of Pregnancy Act, 1971,to increase the limit for medical
Section 80JJAA is a facility for claiming a deduction for the recruitment of new or additional employees. The section has been made available in the Income Tax Act to encourage employers to recruit fresh employees on a periodic basis. This deduction of the Income Tax Act can be claimed by all assessees for creating employment generation opportunities.
New Section 80JJAA Deduction for Salaries paid to New Employees Read More »
The Finance Minister Nirmala Sitharaman while presenting the Union Budget 2020 gave an earning individual two options while filing their income tax return (ITR). Either you forfight all tax exemption benefits and get zero income tax slab on your annual income up to rs 5 lakh or remain in the old income tax slab and
Employees’ Deposit Linked Insurance Scheme Rule Change 2020: Here’s good news for EPF-covered employees. The Employees’ Provident Fund Organisation (EPFO) has decided to extend the minimum assurance benefit under the Employees’ Deposit Linked Insurance (EDLI) scheme. A decision in this regard was taken in the 226th meeting of the Central Board of Trustees (CBT). Now, the
EDLI – New Rule Updated Read More »
The government is likely to reduce the interest rate on small savings schemes, a senior government official told CNBC-TV18. This move is likely to affect interest rates of Public Provident Fund (PPF), National Savings Certificate (NSC), Senior Citizen Saving Scheme (SCSS) Sukanya Samriddhi Yojana (SSY) and other small savings schemes. “The gap between the repo rate
