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The DA Rate for Industrial Workers (since 1 January 2007 with Base year 2001=100) for 3rd Quarter (Oct-Dec), 2015 has been declared as 107.9% and that of 4th Quarter (Jan-Mar), 2016 is 112.40%. The 5th Pay Commission recommendations were implemented since 1 January 1996 and consequently DA rate with effective from 1 January 1996 became 0.
The Board administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organised sector in India. [9] The board is chaired by the Union Labour Minister of India. Presently, the following three schemes are in operation under the Act: Employees' Provident Fund Scheme, 1952
The Public Provident Fund (PPF) is a voluntary savings-tax-reduction social security instrument in India, [1] introduced by the National Savings Institute of the Ministry of Finance in 1968. The scheme's main objective is to mobilize small savings for social security during uncertain times by offering an investment with reasonable returns ...
Source: Social Security Administration. The projected 2025 COLA for Social Security is 2.5%, according to an emailed September 11 TSCL press release, resulting in another drop.
On 19 November 2015, the 7th Central Pay Commission recommended a 23.55% increase in pay and allowances, effective from 1 January 2016. [13] On 29 June 2016, the Union Cabinet approved the Seventh Pay Commission’s recommendations, which were to be implemented from 1 January 2016.
Provident fund is another name for pension fund. Its purpose is to provide employees with lump sum payments at the time of exit from their place of employment. This ...
Coal Mines Provident Fund Organisation (CMPF) is an agency of the Indian government established in 1948 under The Coal Mines Provident Fund and Miscellaneous Provisions Act 1948. [1] It serves as the official pension fund of coal miners and is financed by coal producers on a per-tonne basis. [ 2 ]
Pension Fund Regulatory and Development Authority (PFRDA) is the regulatory body for overall supervision and regulation of pensions in India. [2] It operates under the jurisdiction of Ministry of Finance in the Government of India.