Speaking to media Labour Minister Santosh Gangwar said, \"We have been told that SBI cannot work (as fund manager of the EPFO). We have not engaged (its arm) SBI Mutual Fund (as fund manager) because it was not there (as an applicant at the time of bidding) earlier.\"

A study by TeamLease earlier this year estimated that there would be a net job loss of 11-18 lakh women in the current fiscal as a result of the new norms.

SEBI orders Sahara Group to refund Rs 14,000 crore to investorsIn a major setback to Subrata Roy, SEBI has found that another Sahara group firm has raised over Rs 14,000 crore in violation of legal norms and has issued a fresh order on Wednesday to the company and its directors to refund the money to investors with 15 percent annual interest. The order relates to collecting funds between 1998 and 2009 from nearly 2 crore investors through through optionally fully convertible debentures (OFCD)...

Members would also have an option to withdraw the remaining 25 per cent of their funds and opt for a final settlement of their accounts after completion of two months of unemployment under the new provision in the Employee Provident Fund Scheme 1952.

If the government has its way, you can look forward to filing extra paperwork for your domestic help, driver, ayah, et al in the near future.

The govt has increased the ceiling of tax-free gratuity to Rs 20 lakh from Rs 10 lakh for employees under the Payment of Gratuity Act. The Act is applicable to employees, who have completed at least 5 yrs of continuous service in an establishment that has 10 or more persons. Watch BusinessToday.In's video to find out what is gratuity and who is entitled to it.

The Bill will also empower the government to fix the maternity leave for female employees as deemed to be in continuous service in place of the existing 12 weeks with an executive order. The amended Bill will benefit lakhs of employees who work in the organised sector, especially women.

Parliament today passed a key bill that will empower the government tofix the amount of tax free gratuity and the period of maternity leavewith an executive order

The ministry official mentioned that the RTI applicant might, however, be able to find the same information from the banks.