SBI to be the Fund Manager for Employee Provident Fund
State Bank of India (SBI), the nation’s biggest lender, has been entrusted to manage the entire Rs.3.3 trillion Employees’ Provident Fund (EPF) by the labour ministry.
State Bank of India (SBI), the nation’s biggest lender, has been entrusted to manage the entire Rs.3.3 trillion Employees’ Provident Fund (EPF) by the labour ministry.
We welcome the introduction of the Pension Fund Regulatory & Development Authority (PFRDA) Bill to give statutory powers to an already well-functioning interim regulator. Three issues deserve the attention of the standing committee on finance , to which the Bill has been referred.
The Department of Personnel and Training in its Office Memorandum No. 2201 119198-Estt(D) dated September 8, 1998 has prescribed a Model Calendar for DPCs in order to ensure that DPCs are convened in advance and approved.
While implementing Sixth pay commission report, Finance Ministry vide its O.M No: 2(13)/2008-E.II (B) dated 04.03.2011 dated 29.08.2008 decided that special dispensation of grant of HRA has been allowed to continue
Department of Personnel and Training (DOP&T), has stressed the need to hold the Departmental Promotion Committee (DPC) meetings in the prescribed time frame.
Ministry of Finance has issued the order for enhancing the Dearness Allowance from 45% to 51% with effect from 1st January 2011
Government has declared Thursday, the 14th April 2011, as a Closed Holiday on account of the birthday of Dr. B.R. Ambedkar, for all Central Government Offices
Ministry of Labour and Employment has fixed the rate of interest of Employment Provident Fund for the year 2010-11 at the rate of 9.5% per annum
The Department of Personnel and Training in the Office Memorandum No: 7/7/2008-CS.I(A) dated 22.12.2010, had earlier allowed the stepping up of pay of Senior Assistants of CSS/PAs of CSSS promoted prior to 1.1.2006 and drawing less pay then Assitants of CSS
The Union Cabinet on 17th March 2011, gave approval to the long-awaited Pension Fund Regulatory and Development Authority Bill (PFRDA Bill) that is intended to grant statutory status to PFRDA, the regulator of New Pension Scheme
To make the New Pension System more attractive Government has announced two major Income tax concessions for contributions made in New Pension Scheme in the budget 2011.
Pension reform in the form of introducing New Pension system is a major initiative undertaken by the Government of India to provide income security after retirement. New Pension System (NPS) has been introduced by the Central Government on 01 January 2004