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Union Minister for Labour and Employment Bhupender Yadav has said that more than 1.5 crore jobs have been created in nine organised sectors, including information technology, manufacturing, trade, transport, education, hospitality and medical sector, besides agriculture during the Modi government's tenure. Yadav said along with the expansion of manufacturing capacities in the country, the registration of new industries and enrolment of new members in the Employees' Provident Fund O...
More than 1.5 crore jobs created in nine organised sectors under PM Narendra Modi Government : Bhupender Yadav
The Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1788652 new jobs in the month of June 2023 as against revised figure of 1387034 in May 2023. As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top sectors which have created more fresh jobs include Expert Services; Trading-Commercial Establishments; Establishme...
India creates 17.89 lakh new jobs in June 2023: EPFO
The retirement fund body Employees' Provident Fund Organisation (EPFO) has invested Rs 13,017 crore in exchange traded funds (ETFs) in the April-July period of the current fiscal year (FY24). EPFO invested Rs 53,081 crore in ETFs in 2022-23, Rs 43,568 crore in 2021-22 and Rs 32,071 crore in 2020-21. The EPFO invested Rs 31,501 crore in ETFs in 2019-20 and Rs 27,974 crore in 2018-19. Minister of State for Labour and Employment Rameswar Teli has stated that the EPFO invests in equity mar...
EPFO invests Rs 13,017 crore in ETFs in April-July period of FY24
The Centre on Monday ratified the 8.15 per cent interest rate on deposits under the Employees Provident Fund (EPFO) scheme for 2022-23. On March 28, the EPFO had slightly hiked the interest rate on EPF deposits to 8.15 per cent for 2022-23 for its over six crore subscribers. As per convention, the labour ministry sends the interest rate recommendations to the Finance Ministry for ratification. With the government having given its consent to the interest rate, the EPFO can now begin c...
Centre ratifies 8.15% interest rate for EPF subscribers for 2022-23
The Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1719998 new jobs in the month of April 2023. During 2022-23, EPFO has added 1.39 crore net members as compared to the net addition of 1.22 crore during 2021-22. As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top sectors which have created more fresh jobs inc...
India creates 17.20 lakh new jobs in April 2023: EPFOee
The Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1340183 new jobs in the month of March 2023 as against revised figure of 1217782 in February 2023. As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top sectors which have created more fresh jobs include Expert Services; Trading-Commercial Establishme...
India creates 13.40 lakh new jobs in March 2023: EPFO
The Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1396185 new jobs in the month of February 2023 as against revised figure of 1299220 in January 2023. As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top sectors which have created more fresh jobs include Expert Services; Trading-Commercial Establishments; Est...
India creates 13.96 lakh new jobs in February 2023: EPFO
India's pension fund body on Tuesday recommended marginally increasing the interest rate on deposits with it to 8.15% for the current financial year from 8.1% in the previous year, the labour ministry said in a statement on Tuesday. Last year's interest rate was the lowest in nearly 25 years. The interest rate would be officially notified in the government gazette after the finance ministry's approval. The rate for the 2022/23 year ending March 31 was recommende...
India`s pension fund body recommends marginal hike in interest rate on deposits
Retirement body employee provident fund organisation (EPFO) on Tuesday fixed 8.15 per cent interest rate on the employees' provident fund for 2022-23. The decision was taken by EPFO's board of trustees. Last year, EPFO had declared 8.1 per cent as the rate of interest for 2021-22, which was the lowest in 40 years. The last time the interest rate had slipped to 8 per cent was in 1977-78. Subsequent to the CBT decision, the interest rate on EPF deposits for 2022-23 will be s...
EPFO fixes 8.15% interest rate on employees` provident fund for 2022-23
The Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1485948 new jobs in the month of January 2023 as against revised figure of 1280613 in December 2022. As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top sectors which have created more fresh jobs include Expert Services; Trading-Commercial Establishments; Est...
India creates 14.86 lakh new jobs in January 2023: EPFO
The Employees' Provident Fund Organisation (EPFO) has added a total of 14.93 lakh members in the month of December last year. The year-on-year comparison of payroll data reflects an increase of 32,635 in net membership addition in December 2022 as compared to the corresponding month during last year in 2021. The provisional payroll data of the EPFO released on Monday highlighted that out of 14.93 lakh members added during the month, around 8.02 lakh new members have come under the s...
EPFO adds 14.93L members in December 2022; Maharashtra ,TN top the list
The Indian government is considering mandating the Life Insurance Corp of India (LIC) and sovereign pension fund to invest 1% of their assets under management in bonds issued by state-run power lending firms to finance green projects, two sources said. The federal power ministry has written to the finance ministry asking that the LIC and Employees' Provident Fund Organisation (EPFO) be mandated to invest in such bonds issued by Power Finance Corp (PFC), REC Ltd and Indian Renewab...
India seeks investment by LIC, pension fund in green energy - sources
The IL&FS Group has initiated its largest Interim Distribution pay-out till date in IL&FS Financial Services Limited (IFIN), an IL&FS Group company. As part of the interim distribution, IL&FS Group will be paying a total of Rs 3,200 crore to IFIN eligible creditors, that is being distributed in accordance with the NCLAT approved Revised Distribution Framework. Of the total of Rs 3,200 crore, approximately Rs 2,250 crore is being paid to a combination of 28 PSU, Private a...
IL&FS initiates interim distribution payout of Rs 3,200 cr in IFIN
Year-on-Year (YoY) decline in monthly demand for Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) work is emanating from normalisation of the rural economy due to strong agricultural growth and a swift bounce-back from Covid-19, the Economic Survey for 2022-23 has said. Labour markets have recovered beyond the pre-Covid levels, in both urban and rural areas, as observed in the supply-side and demand-side employment data, the Survey said. Quarterly urban employme...
Economic Survey warns of financial contagion emanating from advanced economies
The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on Friday indicate that 56.60 per cent of new members belong to age-groups 18-25 indicating that first-time job seekers are largely joining organised sector workforce of the country. The EPFO has added 16.26 lakh net members in the month of November 2022. The data indicates an increase of 25.67 per cent net additions compared to the previous month in October 2022. Year-on-year comparison of payrol...
EPFO data shows first-time job seekers joining organised sector
The Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1293606 new jobs in the month of October 2022. As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top sectors which have created more fresh jobs include Expert Services; Trading-Commercial Establishments; Establishment Engaged in Manufacture, Marketing Servicing...
India creates 12.94 lakh new jobs in October 2022: EPFO
The Reliance Capital's Committee of Creditors (COC) met on Friday and finalised the process and rules for conducting an e-auction for the bidders. The e-auction will begin on December 19, and will be an ascending auction process. The bid price of Rs 5,300 crore quoted by the Cosmea-Piramal consortium will be the base price for the planned auction, and in the round one, the bidders will have to bid Rs 1,000 crore more than this base value of Rs 5,300 crore. In the second round, th...
Reliance Capital lenders finalise e-auction plan for bidders
Commerce and Industry Minister Piyush Goyal on Thursday said that the Indian economy was not to be blamed for weakening of rupee, as this was mainly due to the strengthening of the dollar. Addressing the Times Now summit, the minister, despite rising inflation, sounded an optimistic note, noting that compared to sky rocketing inflation in many countries, where it is ranging between 8 to 10 per cent, India has maintained a fair balance between inflation and interest rates and price rise in ...
Rupee weakening due to dollar strengthening, economy can't be blamed: Piyush Goyal
Global spillovers may dampen India's export businesses outlook, however, a resilient domestic demand and rejuvenated investment cycle as well as a strong financial system, will push economic growth, as per the monthly economic outlook review for October released by the Finance Ministry on Thursday. "A rapid deterioration in global growth prospects, high inflation, and worsening financial conditions have increased fears of an impending global recession. The spillovers of the global...
Resilient demand to push economic growth, says October economic review
The Employees' Provident Funds Organisation (EPFO) added 16.82 lakh net members in September 2022, an increase of 9.14 per cent over the corresponding period of last year. According to data released by the EPFO, the net enrolment during the month was 21.85 per cent higher than the monthly average recorded during the last fiscal. As per data, 2,861 new establishments started complying under the Employees' Provident Funds & Miscellaneous Provisions Act, 1952 ensuring social se...
EPFO added 16.82 lakh members in September
The Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1694211 new jobs in the month of August 2022. As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top sectors which have created more fresh jobs include Expert Services; Trading-Commercial Establishments; Establishment Engaged in Manufacture, Marketing Servicing;...
India creates 16.94 lakh new jobs in August 2022: EPFO
Labour ministry has said that retirement fund body -- Employee Provident Fund Organization (EPFO) added 18.36 lakh new subscribers in June 2022, registering 43 per cent rise as compared to the year-ago period. EPFO had added 12.83 lakh net new subscribers in June 2021. It stated in June this year, the net member addition increased by 9.21 per cent as compared to May 2022. Out of the total 18.36 lakh members added during the month, around 10.54 lakh new members have been covered under EPF &...
EPFO adds 18.36 lakh new subscribers in June 2022: Labour ministry
Female participation in jobs has increased during the last few months. Gender-wise analysis of the latest EPFO data indicated that enrollment of net female members has increased to 4.06 lakh in the current month from 3.43 lakh during last month, registering an increase of 18.37 per cent. It is also observed that participation of the female workforce in the organised sector has been the highest in the last 12 months. Overall, employee provident fund organization (EPFO) has added 18.36 la...
Female participation in organised sector rises
The Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1681661 new jobs in the month of May 2022. As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top sectors which have created more fresh jobs include Expert Services; Trading-Commercial Establishments; Establishment Engaged in Manufacture, Marketing Servicing; En...
India creates 16.82 lakh new jobs in May 2022: EPFO
Retirement fund body Employees' Provident Fund Organisation (EPFO) will consider and approve a proposal for setting up a central pension disbursal system in its meeting on July 29 and 30, paving the way for crediting the benefit into over 73 lakh pensioners' bank accounts in one go across India. Presently, over 138 regional offices of the EPFO disburse pensions to beneficiaries in their region separately. Thus, the pensioners of different regional offices are getting pensions at di...
EPFO to soon approve proposal for setting up central pension disbursal system
The Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1707688 new jobs in the month of April 2022. As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top sectors which have created more fresh jobs include Expert Services; Trading-Commercial Establishments; Establishment Engaged in Manufacture, Marketing Servicing; ...
India creates 17.08 lakh new jobs in April 2022: EPFO
The Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1532119 new jobs in the month of March 2022. As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top sectors which have created more fresh jobs include Expert Services; Trading-Commercial Establishments; Establishment Engaged in Manufacture, Marketing Servicing; ...
India creates 15.32 lakh new jobs in March 2022: EPFO
Amid allegations of rising unemployment, the Labour Ministry on Friday said that the EPFO has added 15.32 lakh net subscribers in March 2022, as per the provisional payroll data, an increase of 2.47 lakh net subscribers over February 2022. The data states that of the net subscribers added during the month, around 9.68 lakh new members have been covered under the provisions of EPF and MP Act, 1952 for the first time. The new member addition has increased by 81,327 in March 2022 as compared ...
EPFO adds 15.32 lakh net subscribers in March' 22, 7 lakh below 25 yrs
The provisional payroll data of the Employees Provident Fund Organisation (EPFO), released on Wednesday, shows that it has added 14.12 lakh net subscribers in the month of February 2022. According to the Ministry of Labour and Employment, the month-on-month comparison of payroll data reflects a slight increase of 31,826 net subscribers in February compared to the previous month. On a year-on-year comparison, February 2022 saw an increase of 1,74,314 as compared to the net subscriber additi...
EPFO adds 14.12 lakh net subscribers in February
The Employees' Provident Fund Organisation (EPFO) will pay 8.1 per cent rate of interest on provident fund deposits for the current financial year. This is the reduction from 8.5 per cent in Financial Year 2021 and the lowest in last several years. "The Central Board recommended 8.10 per cent annual rate of interest to be credited on EPF accumulations in members' accounts for the financial year 2021-22. The interest rate would be officially notified in the government gazette f...
EPFO to pay 8.1% interest rate on PF for 2021-22
The Employees' Provident Fund Organisation (EPFO) added 14.6 lakh net subscribers in December 2021, up 16.4 per cent compared to the corresponding period of the previous year. Comparison shows an increase of around 2.06 lakh in net payroll additions in December 2021, as compared to 12.54 lakh net subscribers added during the corresponding month of the previous year. On a month-on-month basis, the net subscriber addition increased by 19.98 per cent, as compared to November 2021. &...
EPFO added 14.6 lakh subscribers in December 2021, up 16.4% YoY
The monthly net addition in the Employees' Provident Fund Organisation (EPFO) subscriptions during 2021 has not only been higher than the corresponding monthly values in 2020, but have also surpassed the levels of the corresponding months during pre-pandemic year 2019, the Economic Survey 2021-22, tabled in Parliament on Monday, said. It revealed that a net addition in EPF subscribers reached 13.95 lakh during November 2021, which translates into growth of 109.21 percent from November ...
EPFO subscriptions in '21 beat corresponding months of pre-pandemic 2019: Economic Survey
Following the takeover of Air India by Tata Group, the Employees' Provident Fund Organisation (EPFO) has now onboarded the carrier for social security coverage to service the social security needs of its employees. The social security benefits will be provided to around 7,453 employees for whom contributions have been filed by Air India with the EPFO for the month of December 2021. The employees will receive extra 2 per cent employer's contribution in their Provident Fund accoun...
EPFO onboards Air India for social security coverage
The Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1395475 new jobs in the month of November 2021. As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top sectors which have created more fresh jobs include Expert Services; Trading-Commercial Establishments; Establishment Engaged in Manufacture, Marketing Servicin...
India creates 13.95 lakh new jobs in November 2021: EPFO
Retirement fund body -- Employees' Provident Fund Organisation (EPFO) in its latest payroll data has showed that it added 12.73 lakh net subscribers in October 2021, registering an increase of 10.22 per cent as compared to 11.55 lakh net subscribers added during October 2020. Of the total 12.73 lakh net subscribers added, 7.57 lakh new members have been enrolled under EPF & MP Act, 1952 for the first time. As per the data, around 5.16 lakh net subscribers exited but rejoined EPFO b...
EPFO adds 12.73 lakh net subscribers in October
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