EPFO contributions reduced; gains in take home, employee cost

News:The Finance minister has provided relaxation to all private sector companies by reducing the statutory PF contribution of both employer and employee from 12% to 10% for the next three months. Facts: Employees’ Provident Fund(EPF) Scheme: Employees Provident Fund (EPF): It is a retirement benefit scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act,… Continue reading EPFO contributions reduced; gains in take home, employee cost

Two crore jobs created in 16 months to December 2018: CSO

According the payroll data of the Employees State Insurance Corporation (ESIC), nearly 2 crore jobs were created during the period from September 2017 and December 2018. The ESIC data is one of payroll numbers released by the Central Statistics Office (CSO) in its reports. It is based on people joining various social security schemes run… Continue reading Two crore jobs created in 16 months to December 2018: CSO