bibleHR

Central Government revises EPF interest rate, increases it to 8.8%

The Centre rolled back on Friday a decision to lower the interest to 8.7% on the Employees Provident Fund (EPF) and said deposits will earn 8.8% interest for 2015-16 as originally recommended by the Central Board of Trustees, EPFO’s apex decision-making body. The move comes in the wake of a day-long nationwide protest called by […]

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bibleHR

Interest on Delayed Payment of ESI Contribution- Amendment

ESI has made amendment on Interest calculation method on omitted wages. They have issued a circular regarding this on 08th April, 2016. ESIC has decided that the interest on ESI contribution payable on omitted wages, shall be calculated monthly wise. Earlier to this, the Interest on omitted wages/left-out wages as reported by the Social Security […]

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bibleHR

Government Stayed Employee Provident Fund New Withdrawal Rules for 3 Months

The government today stayed the new PF order tightening rules for withdrawal of Employee Provident Fund, within hours of employees protests in Bengaluru today. “The notification issued on 10th February, 2016 is cancelled. Now the old system will continue,” Union Labour Minister Bandaru Dattatreya said at a press conference here.I will take ratification from CBT […]

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bibleHR

ESI Act Amendment Discussion

ESIC discusses amendments in the ESI Act-1948, for providing option to employees to choose either ESI or Health Insurance Product services recognized by IRDA; in 165th Meeting of the E.S.I. Corporation held on 07.04.2015 The Employees’ State Insurance Corporation today discussed for providing option to employees to choose either ESI Benefits or Health Insurance product […]

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