In a bid to expand social-security cover for workers in the country, the government is likely to double the monthly-wage ceiling for mandatory deductions from their salaries for contribution to the Employees' Provident Fund (EPF).
Plans are also afoot to bring the wage ceiling under Employees' State Insurance Corporation (ESIC) on a par with that of the EPF.
Both these issues were discussed at length in the recently held meeting of the Central Board of Trustees (CBT), which is the apex decision-making body of the Employees Provident Fund Organisation (EPFO) on Saturday.
"The ceilings for both the schemes are likely to be raised to ₹30,000 per month. Positive discussions took place on these issues, with most members and the labour ministry in favour of doubling the wage ceiling. It is likely that a final call in this regard is taken in the next CBT meeting in February," said a member of the CBT.
Denne historien er fra December 02, 2024-utgaven av Business Standard.
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Denne historien er fra December 02, 2024-utgaven av Business Standard.
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Jay Shah takes over as ICC chairman
Indian cricket administrator Jay Shah on Sunday took charge as the chairman of the International Cricket Council (ICC) with an immediate goal of ending the impasse surrounding the Champions Trophy and a broader vision of making cricket a commercially viable Olympic sport.
Nine states bet $18 bn on women's empowerment
Nine Indian states with ongoing or proposed cash transfer schemes for women have collectively allocated $18 billion in their 2024-25 Budget Estimates, amounting to 0.5 per cent of India's gross domestic product (GDP) for the same financial year, according to research by Goldman Sachs.
Every couple should have at least three kids, says RSS chief
Expressing concern over declining population growth, RSS chief Mohan Bhagwat on Sunday said India's Total Fertility Rate (TFR), the average number of children a woman gives birth to in her lifetime, should be at least 3, well above the present one of 2.1.
Painkillers, anti-infective drugs fail quality tests most in 2024: CDSCO
Painkillers, anti-infectives and medications for type-2 diabetes were among the class of drugs flagged as not of standard quality (NSQ) and spurious the most in 2024, according to data collated from drug alerts issued by the Central Drug Standards Control Organisation (CDSCO).
Pollution rises while funds gather dust
The National Clean Air Programme (NCAP), launched in 2019 to improve air quality in 131 cities, has shown limited progress as rising pollution levels and underutilisation of funds raise concerns about its effectiveness.
Robust taxes ease burden of freebies on states
The evolving dynamics of state-level politics in India highlight the increasing prominence of welfare schemes and subsidies as decisive factors in elections.
Monetary policy: Hobson's choice before RBI
This policy comes at a time when growth is slowing, inflation is still pretty high, and the rupee has started losing value against the dollar
CONSOLATION PRIZES
UN climate summit in Baku leaves the developing world with crumbs
SFBs: The canter on a chequered terrain
Segmental and geographical expansion, undergirded by strong and increasing presence in semi-urban and rural markets with large untapped potential, will help small finance banks (SFBs) clock robust 25-27 per cent growth in advances this financial year, just shy of 28 per cent in the previous year.
Now boarding
Governance premium is set to go up by many notches and banks will be put through the wringer, reports RAGHU MOHAN
