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In March 2022, the EPFO lowered the interest rate of 8.10% for the fiscal year of 2021-22. On 30 August 2022, EPFO proposed to remove the restrictions on the wage ceiling and headcount to allow all formal workers and self-employed to enrol in its retirement saving schemes. [10]
The Employees' Provident Fund and Miscellaneous Provisions (EPF&MP) Act, 1952, mandates employers to pay 12% of the salary (consisting of basic wages, Dearness allowance, retaining allowance and value of food contribution) as a contribution on behalf of employer and employee each towards employees provident fund and employees pension fund every month.
The entire 12% contribution of the employee goes towards the Employees’ Provident Fund Scheme (EPF), while from the employer's share of 12%, 3.67% goes to the Employees’ Provident Fund and 8.33% goes towards the Employees’ Pension Scheme (EPS) along with 1% contribution of the government while 0.5% contribution of the employer goes to the ...
It is run by the social security body Employees' Provident Fund Organisation (EPFO). In this system, an employee contributes 10% to 12% of his monthly salary here and his employer contributes a matching amount, with a total contribution of 20% to 24% of the employee's gross salary, while the state contributes an additional 1.16%, which makes it ...
Employees' State Insurance Corporation (ESIC), established by ESI Act, is an autonomous organisation under Ministry of Labour and Employment, Government of India.As it is a legal entity, the corporation can raise loans and take measures for discharging such loans with the prior sanction of the central government and it can acquire both movable and immovable property and all incomes from the ...
Nabanna নবান্ন Alternative names HRBC Building General information Status Operational Type Administrative building Location Howrah, West Bengal, India Address 325, Sarat Chatterjee Road, Shibpur, Howrah-711102 Inaugurated 5 October 2013 ; 11 years ago (2013-10-05) Technical details Floor count 14 Nabanna is a building in the city of Howrah (neighborhood of Kolkata) in Howrah ...
An Indian passport is a passport issued by the Government of India to citizens of the Republic of India for travelling abroad. It enables the bearer to travel internationally and serves as proof of Indian citizenship as per the Passports Act (1967). [1] Front cover of the Indian Passport.
As the Bay of Bengal is at a distance of 24 kilometres (15 mi) from the city, the sea breeze renders the climate of the city moderate both in winter and in summer. Humidity level in the city is high due to its proximity to the coast. Nellore only receives small amounts of rain from the south-west monsoon.