Retirement fund body has seen rise in earnings from capital gains from equity. Its earnings are distributed among its subscribers, with EPFO retaining a small surplus.
The 8.1% EPF rate of interest is the lowest since 1977-78. The EPFO had in March decided to lower the interest on provident fund deposits from 8.5% to 8.1% for the current fiscal.
EPFO payroll data, which captures data related to the organised & semi-organised sector, shows there was a sharp drop in payroll additions among those younger than 25 years.
Govt has decided to notify 8.5% rate of interest on EPF deposits and credit them in one go. The decision will benefit over 6 crore subscribers of the retirement fund body EPFO.
Finance ministry has been nudging labour ministry to align the EPF interest rate with other small saving schemes run by the govt such as the public provident fund.
National Testing Agency’s charter is to assess the 'competence of candidates' for admission and recruitment, but NEET and UGC-NET firestorms have put its own competency in question.
The report predicts net emigration of 4,300 millionaires in 2024, lower than the outflow in 2023 & 2022. Congress has raised concerns about the outflow of HNIs from the country.
Lt Gen Nilakantan says revised Entitlement Rules & Guide to Medical Officers for pensions had been revised to rationalise disability classification, quantification & granting of disability.
Changed reality for Modi govt in its 3rd innings is by no means rise of a new phenomenon. It's a return to old normal where even majorities had to routinely wrestle with storied million mutinies.
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