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The NPS started with the decision of the Government of India to stop defined benefit pensions, Old Pension Scheme (OPS) for all its employees who joined after 1 January 2004. The employee contributes 10% of his gross salary to the system while the employer contributes a matching amount.
The Department of Finance also controls Kerala Financial Corporation, an important agency in leading finance and credit for industrial and agricultural projects for private and public. The Finance Department controls the major functions like Stores & Purchase, Commercial Taxes, Agricultural Income Tax, Treasuries, Lotteries, Local Fund Audit ...
Repealed from 1 January 2004, it had a defined-benefit (DB) pension of half the Last Pay Drawn (LPD) at the time of retirement along with components like Dearness Allowances (DA) etc. OPS was an unfunded pension scheme financed on a pay-as-you-go (PAYG) basis in which current revenues of the government funded the pension benefit for its retired ...
The Pension Parishad – an initiative to ensure universal pension to all workers in India – has been demanding that the Government of India establish a "non-contributory and universal old age pension system with a minimum amount of monthly pension not less than 50% of the minimum wage or ₹ 2,000 (US$23), whichever is higher." [51]
The Kerala State Higher Education Council (KSHEC), Science and Technology Museum Campus, Vikas Bhavan PO, Thiruvananthapuram [7] Kerala State Information Technology Mission [ 8 ] Kerala State Institute of Children's Literature
The government is dependent on Kerala Legislative Assembly to make primary legislation. Legislative assembly elections are held every five years to elect a new assembly, unless there is a successful vote of no confidence in the government or a two-thirds vote for a snap election in the assembly, in which case an election may be held sooner ...
The other company is Mysore Sales International Limited (MSIL) owned by the government of Karnataka. KSFE's purpose at founding was to provide an alternative to unscrupulous private-sector chit fund organizers. [4] In 2000, it had 77% of the capital volume of the chit fund business in Kerala, though just 37.5% of the number of chit funds. [4]
In the state of Kerala there are various establishments owned, managed and controlled by Government of India.These establishments in Kerala are largely government offices and departments, Public sector undertakings, jointly owned entities, entities in which Government of India has stakes or shareholding, defence and strategic establishments etc.
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