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After the economic liberalization of 1991, the pay in Private sector was gradually seen as better than that in Public sector. Various studies reveal mixed evidence of one being better than other. Job security with assured pension provisions post-retirement can be an incentive to acquire and retain the talented workers. [4]
In the ever-changing landscape of retirement planning, understanding the options available for your pension plan is crucial. One common question that arises when leaving a job is whether you can ...
India operates a complex pension system. There are however three major pillars to the Indian pension system: the solidarity social assistance called the National Social Assistance Programme (NSAP) for the elderly poor, the civil servants pension (now open for all) and the mandatory defined contribution pension programs run by the Employees' Provident Fund Organisation of India for private ...
The contributory pension system was notified by the Government of India on 22 December 2003 to the National Pension System (NPS) with effect from 1 January 2004. The NPS was subsequently extended to all citizens of the country with effect from 1 May 2009 including self employed professionals and others in the unorganized sector on a voluntary ...
The objective of this project is to help job-seekers land up at the job they deserve. Under this scheme, an online job-portal named as National Career Service portal has been launched which acts as a common platform for job-seekers, employers, skill providers, government departments, placement organisations and counsellors. [85] [86]
Government employees in the union government in 56 ministries [1] and departments under latter as of 1 July 2023 has 48.67 lakhs working employees and about 77 lakhs retired employees on rolls. [2] Indian Railways with 1.3 million employees has highest number of employees in union government. [3]
India Today, cites a MOD letter leaked to it by a Joint Secretary in the MOD, titled 'Common VII Central Pay Commission' purportedly written by Air Chief Marshal NAK Browne, the Chairman Chief of Staff Committee (COSC), to AK Antony, Defence Minister. According to the 'letter' the government is in favour of a separate pay commission for the ...
Extend the PPF account with no contribution – The PPF account can be extended after the completion of 15 years; the subscriber doesn't need to put any amount after maturity. This is the default option, meaning if the subscriber doesn't take any action within one year of his PPF account maturity, this option activates automatically.