Labour Ministry

Centre yet to fix a sum as minimum monthly national wage

Centre yet to fix a sum as minimum monthly national wage

Seeking to clear the air, the labour ministry on Tuesday said the Centre has not fixed Rs 18,000 as national minimum monthly wage under the Code on Wages Bill.

Sep 05, 2017, 18:54 PM IST
EPFO to trim investments in AAA bonds; may pump Rs 3,000 crore into AA+ rated corp bonds: Labour Minister

EPFO to trim investments in AAA bonds; may pump Rs 3,000 crore into AA+ rated corp bonds: Labour Minister

The Employees Provident Fund Organisation or EPFO at a recent meeting decided to cut the current investment of Rs 15,000 crore in AAA-rated bonds by Rs 3000 crore and invest that amount in AA+bonds.

Aug 28, 2017, 16:21 PM IST
Less than 1% of registered job seekers got placed: Government

Less than 1% of registered job seekers got placed: Government

In 2013, the placement was over 0.7 percent. In the year prior to that, however, the number is slightly better at over 0.9 percent.

Jul 24, 2017, 19:06 PM IST
Wage Code, factories bill to be pushed in monsoon session

Wage Code, factories bill to be pushed in monsoon session

The Code on Wages Bill has already been approved by the ministerial panel, and will soon be placed for the Union Cabinet nod.

 

Jun 26, 2017, 17:18 PM IST
Conduct special audit of PF trusts: Panel to labour ministry

Conduct special audit of PF trusts: Panel to labour ministry

A parliamentary panel has asked the labour ministry to conduct special inspection or audit of private EPF trusts that have been found to be investing their workers' retirement savings in own firms through mutual funds.

Apr 09, 2017, 12:32 PM IST
Cabinet nod likely to double gratuity cap to Rs 20 lakh

Cabinet nod likely to double gratuity cap to Rs 20 lakh

The proposed amendment is being brought to bring the maximum ceiling amount to Rs 20 lakh in line with the 7th Central Pay Commission's recommendations as accepted by the government.

Mar 15, 2017, 09:01 AM IST
Gratuity ceiling for private sector employees to be raised to Rs 20 lakh

Gratuity ceiling for private sector employees to be raised to Rs 20 lakh

Formal sector workers may soon be eligible for up to Rs 20 lakh tax-free gratuity as central trade unions have agreed on the proposal in a tripartite consultation with the Labour Ministry.

Feb 23, 2017, 20:50 PM IST
Labour Min, FinMin agree on 8.65% EPF interest: Dattatreya

Labour Min, FinMin agree on 8.65% EPF interest: Dattatreya

Labour Minister Bandaru Dattatreya on Tuesday said 8.65 percent interest rate on EPF deposits for this fiscal will soon be ratified by the Finance Ministry and there is no difference of opinion on the issue.

 

Feb 14, 2017, 18:58 PM IST
Budget may levy new cess to provide social security to coolies

Budget may levy new cess to provide social security to coolies

Government may announce a new cess in the forthcoming Union Budget 2017-18 to cover around 20,000 railway coolies under social security schemes run by the retirement fund body EPFO.

Jan 23, 2017, 15:39 PM IST
Govt to launch campaign to open workers' bank accounts today

Govt to launch campaign to open workers' bank accounts today

Labour Ministry will launch a campaign in association with Department of Financial services to open bank accounts of workers, who do not have one till date, in the organised as well as unorganised sector on Saturday.

Nov 26, 2016, 09:08 AM IST
7,000,000 jobs could disappear in India by 2050, says study

7,000,000 jobs could disappear in India by 2050, says study

As many as 550 jobs have disappeared every day in last four years and if this trend continues, employment would shrink by 7 million by 2050 in the country, a study has claimed.

Oct 16, 2016, 17:00 PM IST

ESIC to extend services in unorganised sector as well: Bandaru Dattatreya

The Employees State Insurance Corporation (ESIC) will extend its health services to 20 crore workers in organised as well as unorganised sectors in 3 to 4 years, Union Labour Minister Bandaru Dattatreya said on Monday.

Oct 10, 2016, 18:35 PM IST
Employee provident fund may get 8.6% interest in 2016-17 down from 8.8% in 2015-16

Employee provident fund may get 8.6% interest in 2016-17 down from 8.8% in 2015-16

Over 4 crore EPFO subscribers may get a lower interest at a rate of 8.6 percent on their PF deposits for current financial year as Labour Ministry is expected to toe the Finance Ministry line to cut the rate.

Sep 11, 2016, 10:42 AM IST
'Govt considering EPFO's voluntary pension scheme proposal'

'Govt considering EPFO's voluntary pension scheme proposal'

The Labour Ministry is actively considering proposal of a voluntary pension scheme mooted by the Employees' Provident Fund Organisation (EPFO), a senior government official has said.

Sep 02, 2016, 17:01 PM IST
Govt hikes minimum wage; Unions stick to September 2 nationwide strike call

Govt hikes minimum wage; Unions stick to September 2 nationwide strike call

Seeking to dissuade labour unions from a nationwide strike on September 2, the government Tuesday announced 42 percent minimum wage hike and a two-year bonus, but the trade bodies rejected these measures as "completely inadequate" and stuck to their call.

Aug 30, 2016, 21:02 PM IST
EPFO set to hike proportion of ETF investments

EPFO set to hike proportion of ETF investments

Retirement fund body EPFO will on July 7 take a decision on increasing investments in stock markets through ETFs, as they have started giving returns, Labour Minister Bandaru Dattatreya said Tuesday.

Jun 28, 2016, 15:11 PM IST