Over 6 crore EPFO members to get 8.65% interest for 2018-19: Labour minister

Agencies
September 17, 2019

New Delhi, Sept 17: Labour Minister Santosh Gangwar on Tuesday said over 6 crore EPFO members will get 8.65 per cent interest on their deposits for 2018-19.

The Central Board of Trustees -- the apex decision-making body of the Employees' Provident Fund Organisation (EPFO) -- had approved 8.65 per cent interest rate for the last fiscal in February this year.

The proposal was sent for the concurrence of the finance ministry.

"...ahead of the festival season, over 6 crore EPFO subscribers would get 8.65 per cent interest for 2018-19," Gangwar told reporters on the sidelines of a function here.

At present, the EPFO is settling PF withdrawal claims at 8.55 per cent interest rate, which was approved for 2017-18.

"...ahead of the festival season, over 6 crore EPFO subscribers would get 8.65 per cent interest for 2018-19," Gangwar told reporters on the sidelines of the National Safety Awards function here.

On the delay in notifying EPF interest rate, the minister said, "Finance Minister (Nirmala Sitharaman) is busy these days. She has the file (proposal for EPF interest rate for 2018-19). She does not disagree on this. The 8.65 per cent rate of interest approved by us would be provided to EPFO subscribers for 2018-19. It should be done in few days."

Talking about new infrastructure to be set through bodies under the labour ministry in the two union territories of Jammu & Kashmir and Ladhak, the minister said, "The Employees State Insurance Corporation (ESIC) would open a 30-bed hospital in Leh and 100-bed hospital in Srinagar. Besides, the EPFO would open its offices in Srinagar and Jammu, and if needed in Leh also."

After the abrogation of special status for Jammu and Kashmir, as many as 106 central laws would be implemented in the two union territories from October 31, 2019. Therefore, the central government needs to create infrastructure to enable implementation of those laws in the new union territories.

On the issue of unemployment, he said, "The number of workers increased by 2 crore in all those establishment where 20 or more workers work in last three years. Their number increased from six crore to eight crore now. We are also working for over 40 crore unorganised sector workers in the country."

About having a true picture of employment scenario in the country, he said, "We are also working on employment generation data from all those businesses where only one to two people work. They have got loans from the government. It would take one more year to firm up unemployment data."

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 8,2020

New Delhi, May 8: India's count of COVID-19 cases on Friday rose to 56,342 including 1,886 deaths, according to the Ministry of Health and Family Welfare.

Currently, there are 37,916 active cases while 16,539 COVID-19 positive patients have been cured/discharged and one has migrated.

Maharashtra has the highest number of cases with 18,120 followed by Gujarat with 7,013 cases and Delhi with 5,980 cases.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
May 14,2020

Mumbai, May 14: The Shiv Sena on Thursday raised questions over the Centre's Rs 20 lakh crore stimulus package announced to revive the COVID-hit economy, and asked if India is not a "self-reliant" country at present.

An editorial in Sena mouthpiece 'Saamana' wondered how Rs 20 lakh crore will be raised, and opined that an environment needs to be created where industrialists, trade and business sectors are encouraged to invest.

On the path of new self-reliance, India cannot afford industrialists running away, and for that "political institutions like the ED and CBI need to be put in lockdown for some time," it said.

Prime Minister Narendra Modi on Tuesday announced new financial incentives on top of the previously announced packages for a combined stimulus of Rs 20 lakh crore, saying the COVID-19 crisis has provided India an opportunity to become self-reliant and emerge as the best in the world.

The Sena said the country is being told that the package will be beneficial for MSMEs (micro, small and medium enterprises), poor labourers, farmers and the tax-paying middle class.

"The package (as per the Centre) will reach 130 crore Indians and the country will become self-reliant. Does this mean India is not a self-reliant country at present?" the Marathi daily asked.

It is good that PPE kits and N95 masks are now being manufactured in India, it said.

"Any country progresses ahead while learning from crisis and through struggle. Before Independence, not even a needle was manufactured in India but in 60 years, India became self-reliant in science, technology, agro business, defence, manufacturing and atomic science," it said.

An institution like the Indian Council of Medical Research (ICMR), which is helping in the manufacturing of PPE kits, is part of the self-reliant India, it noted.

Wondering how Rs 20 lakh crore, as announced in the central package, will be raised, the Sena said an "environment needs to be created where industrialists, trade and business sectors will be encouraged to invest".

"India, on path of new self-reliance, cannot afford industrialists running away, and for that political institutions like the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) need to be put in lockdown for some time," the paper said.

Despite announcing the 'lockdown-4' and the economic package, why its impact has not been reflected in the share market? it asked.

"Investors are in a dilemma. The prime minister and chief ministers must show them trust and support," it said.

"Earlier it was Pandit Nehru and now it is Modi. If (former prime minister) Rajiv Gandhi had not laid the foundation of a digital India, there wouldn't be video conference of PM, CMs and bureaucracy in times of coronavirus," the Uddhav Thackeray-led party said.

It agreed with Modi that coronavirus will stay for long, and lives need not revolve around it.

"We need to get back on our feet again," the Sena said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 1,2020

New Delhi, Feb 1: Activist Sharjeel Imam's mobile phone and laptop along with some anti-CAA posters have been seized from his house in Bihar's Jehanabad and rented flat in Vasant Kunj, police said on Friday.

Imam was arrested by the Delhi Police's Crime Branch from Jehanabad in a sedition case and he is being questioned by police for his alleged inflammatory speeches in Aligarh and at the Jamia Millia Islamia University here.

During investigation, a laptop and a desktop belonging to Imam were recovered from his rented flat at Vasant Kunj, Deputy Commissioner of Police (Crime) Rajesh Deo said.

His mobile phone was recovered from his house at his native place in Jehanabad's Kako area on the instance of his brother, he said.

Imam had prepared anti-CAA and anti-NRC pamphlets with "misleading and intimidating facts" and then distributed them in various mosques, the copy of which have been recovered, police said.

The shop from where he made photocopies of the pamphlets has also been identified, they added.

Imam was arrested on Tuesday. He was brought to Delhi on Wednesday and produced at the residence of Chief Metropolitan Magistrate Purushottam Pathak in the evening amid tight security after which police were granted his five-day custody.

The PhD scholar at the Jawaharlal Nehru University's Centre for Historical Studies has been booked for sedition and other charges in several states after videos of his alleged inflammatory speeches, made during protests against the Citizenship (Amendment) Act (CAA), were circulated on the social media.

An FIR was registered against Imam by the Delhi Police on January 25 under IPC sections 124A (sedition) and 153A (promoting or attempting to promote disharmony or feelings of enmity on grounds of religion, race, place of birth, residence, language, caste or community or any other ground whatsoever) among others.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.