India is projected to become an ageing society by 2047 with an estimated 140 million people above the age of 60 years.
This is expected to put immense pressure on the pension funds in the country.
The Employees’ Provident Fund Organisation (EPFO) sees a case for substantially in increasing the retirement age in India and aligning it with life expectancy to ensure the viability of the...Read More
Upholding a 2009 amendment to the Payment of Gratuity Act, 1972, the Supreme Court has ruled that the benefit of gratuity would extend to teachers, including those employed in private schools. “The amendment with retrospective effect remedies the injustice and discrimination suffered by
the teachers on account of a legislative mistake, which was understood after
the pronouncement of the...Read More
We have made significant strides towards gender equality in the last couple of decades.
However, despite this progress, women are underrepresented in
the higher echelons of the corporate world. According to the Deloitte Global
Boardroom Programme’s Seventh Edition of the ‘Women in the boardroom: A
global perspective’ Report, women hold an abysmal 3.6% of board chairs in
the...Read More
As Big Tech companies begin to lay off employees, Google executives have reportedly warned workers to either boost performance or prepare to leave as “there will be blood on the streets”
As Big Tech companies
begin to lay off employees in the global economic downturn, Google
executives have reportedly warned workers to either boost performance or prepare to leave as “there...Read More
1. Now the hearing and argument of both the parties that is 67 Petitioners and Respondent, EPFO is over and SC has reserved its judgment.
2. The appeal was filed by EPFO challenging the Kerala, Rajasthan & Delhi High Court judgments which had quashed the EPS (Amendment) Scheme of 2014 restricting EPS membership for the employees whose Basic salary is upto Rs. 15,000/- pm.
3. In 2018, the...Read More
A key learning from this episode is that a food and beverage company’s
responsibility of product quality and safety does not end with the product
leaving its factory. It continues till the product is consumed by the
end-consumer. Hence, any product quality or consumer safety loopholes in the total value chain should be mapped and proactively addressed by the company.
The roll of HR does not...Read More
Arguments on the 67 Employees’ Pension Scheme petitions in the Supreme Court were finally concluded on 10.8.2022. Every member of Employees’ Provident Fund (with inbuilt pension scheme) is expecting higher pension rate which has been held by Kerala High Court. If the judgment of Kerala High Court upheld the pensioner will be benefited with higher pension rate.
How and to what...Read More
The notional value of Employees’ Provident Fund Organisation (EPFO)
investment in Exchange Traded Funds (ETFs) has reached to ₹2,26,919.18 crore
against the investment of ₹1,59,299.46 crore as of March 31, 2022.
The EPFO’s investments have skyrocketed by a breath-taking 265.63% from the
investment of FY21.
Notably, the statutory body has been investing in ETFs since August 2015.
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A revenue Stamp can be explained as a receipt given by the Government in the form of small adhesive stamp in lieu of separate document stating that the tax/fee has been paid to the Government. The receipt for above certain amount shall be mandatorily acknowledged by the receiver affixing and cancelling the revenue stamp. Under section 30 of Indian Stamp Acts 1899, the recipient of above...Read More
On the basis of the report of the Enforcement Officer (EO), the EPF
Authority issued notice to employer to deposit the assessed amount –
Petitioner has challenged that notice in Writ Petition – Held, Respondent
have submitted that sit is a preliminary Notice and thereafter the Summons will be issued and a regular enquiry under section 7A would be initiated by
giving an opportunity...Read More
