While the EPF contribution is deposited every month, the interest is calculated at the end of the year.

 You can save up to Rs 24,000 in taxes if you avail of food coupons, a non-taxable salary component. All you need is knowing your salary structure better and accordingly plan your taxes

Revival in job market: January sees 50% rise in vacancies over December Vaccination drive against COVID-19 and improving economic indicators has enthused employers to recruit. This was evident in a survey which showed job openings increased almost 50 per cent in January as compared to December. Vacancies in January rose to 265,000 from 180,000 in December, according to Xpheno's Active Job Outlook survey. COVID-19 vaccine: Russia's Sputnik V may be approved by India in next few weeks Ind...

While the new definition of wages will increase the social security component of compensation packages, it could also mean lesser take-home salary for employees

Income-tax slabs unchanged, but small taxpayers will enjoy procedural relief in filing ITR and resolution of disputes; High-income earners may feel the pinch though

The time-limit for re-opening of assessment is being reduced to 3 years. Originally this was six years. Re-opening of assessment up to ten years will be allowed only if there is evidence of undisclosed income of  Rs 50 lakh (or more) for a year

Union budget 2021: With this, EPF contribution no longer enjoys the Exempt-Exempt-Exempt (EEE) status, albeit for high income employees

The pandemic has brought a realisation that we need greater public health infrastructure so that we are ready for any calamity of this order in the future

Air India Employees Union said the existing medical scheme in Air India should be continued as it is for serving and retired employees

While the coming few months will show what shape the final codes and underlying rules will take, the government could certainly have taken a more progressive approach to the new definition of wages, to better address ambiguities and legal uncertainties resulting in fewer disputes and litigation

Currently, most employers have a wage structure in which the basic salary ranges from 25% to 40% of the CTC of the employee, and this forms the basis for both provident fund and gratuity contributions

The Atmanirbhar Bharat Rozgar Yojana scheme, which aims to create more formal jobs, to benefit around 58.5 lakh employees, says minister

The new wage definition is an attempt to simplify the various regulations related to wages with the promise of easier implementation. However, India Inc still awaits the details. The Bill is anticipated to get enforced by April 2021

Under the Atmanirbhar Bharat Rozgar Yojana to incentivise formal sector job creation, the government will deposit full EPF contribution of workers who are hired between October 2020 and June 2021

The Employees' Provident Fund Organisation (EPFO) data showed that around 20 lakh jobs were lost in the initial months of the coronavirus pandemic, thus, the government is targeting 50-60 lakh jobs by June 2021

The labour ministry had gathered inputs over the next 45 days from the date of notification, following which the final rules will now be notified

The labour ministry will move the cabinet note in the next 15 days and has begun working on framing the rules for the job programme that will be issued soon after the note is moved

Centre may come up with subsidised credit scheme for stressed sectors, including hospitality, aviation, automobile and textiles. Some sectors may even get credit without any collateral, with govt acting as a guarantor

As per the norms, the maximum allotted bonus would be Rs 6,908 per employee. While 25 per cent of the bonus will be given in cash, 75 per cent will be added to the Provident Fund

The economic crisis following the pandemic and untimely national lockdown have been used by both the central and state governments to push through unilateral measures that undermine workers' interest by dismantling critical protections