With a higher risk tolerance and more funds to invest, richer Indian households have enjoyed higher returns from mutual funds and listed shares in the pandemic period.
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.
Finance Minister Nirmala Sitharaman said that the criteria would be applicable to those cases where no contribution is made by employers to the retirement fund.
According to govt data, the number of people who contribute more than Rs 2.5 lakh per annum is less than 1% of the total number of contributors in the Employee Provident Fund.
The third phase will run for 3 years till 2023 and aims to benefit around 58.5 lakh employees. Rs 1,584 crore has been allocated for the current fiscal.
This would increase 4.3 crore organised sector employees' take home pay and reduce the liability of 6.5 lakh employees facing a liquidity crunch under lockdown.
According to government reply in Lok Sabha, the pilot phase of PMIS is being used to test concepts, strategies and systems before a full-scale implementation of the scheme.
Order for 87 MALE drones will be split between 2 Indian firms in 64:36 ratio to ensure there are 2 independent manufacturing lines with at least 60% indigenous components.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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