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Bandaru Dattatreya

Cabinet clears Wage Code Bill, 5 points which will explain its meaning

Cabinet clears Wage Code Bill, 5 points which will explain its meaning

Thu, Jul 27, 2017

Labour Code on Wages Bill, 2015, states, "A BILL to consolidate and amend the law relating to wages and bonus and the matters connected there with or incidental thereto."

'Universal pay' may soon be a reality in India; find out what it is

'Universal pay' may soon be a reality in India; find out what it is

Mon, Jun 12, 2017

Government of India is readying Universal Wage Code Bill which aims to end pay-gap. The minimum income guarantee applies also for those workers, who are earning more than Rs 18,000.

EPFO approves hike in investment limit in ETFs to 15%

EPFO approves hike in investment limit in ETFs to 15%

Sun, May 28, 2017

In a meeting of the Central Board of Trustees (CBT) held in Pune on Saturday, Union Labour Minister Bandaru Dattatreya said that the Employees' Provident Fund Organisation (EPFO) has approved hike in investment limit in exchange traded funds (ETFs) to 15%, from the existing 10%.

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EPFO: Central Board of Trustees rejects proposal to reduce PF contribution to 10%

EPFO: Central Board of Trustees rejects proposal to reduce PF contribution to 10%

Sun, May 28, 2017

The Central Board of Trustees (CBT), a retirement fund body of EPFO, has turned down the proposal to reduce the mandatory provident fund (PF) contributions from workers and employers from present 12% to 10% in a meeting held in Pune on Saturday.

EPFO to take call on increasing ETF investment to 15%: Labour Minister

EPFO to take call on increasing ETF investment to 15%: Labour Minister

Mon, May 22, 2017

The Finance Ministry had earlier notified a new investment pattern for EPFO, allowing the body to invest a minimum of 5 per cent and up to 15 per cent of its funds in equity or equity-related schemes.

EPFO settlement: Labour Minister launches website to bring down claims

EPFO settlement: Labour Minister launches website to bring down claims

Wed, May 17, 2017

Ministry said that Citizen' Charter 2017 will make service delivery system and grievance redressal mechanism more efficient so that it delivers goods and services to its stakeholders in a time bound manner.

EPFO trustees likely to raise ETF investments to 15% on May 27

EPFO trustees likely to raise ETF investments to 15% on May 27

Sun, May 14, 2017

The trustees of retirement fund body EPFO are likely to raise the investment limit in exchange traded funds (ETFs) to 15% of the investible deposits, from 10% at present in the current fiscal.

You can withdraw 90% EPF to buy home, pay EMI from account

You can withdraw 90% EPF to buy home, pay EMI from account

Mon, Apr 24, 2017

The withdrawal facility from the PF account will be available to only those PF members who fulfil the conditions prescribed.

Finance Ministry okays 8.65% interest on EPF

Finance Ministry okays 8.65% interest on EPF

Sun, Apr 16, 2017

According to EPFO estimates, the fund will see a surplus after providing 8.65% interest rate for the last fiscal.

EPFO to provide 8.65% interest on EPF for FY17: Bandaru Dattatreya

EPFO to provide 8.65% interest on EPF for FY17: Bandaru Dattatreya

Thu, Apr 13, 2017

Labour Minister Bandaru Dattatreya said on Thursday that EPFO has decided to provide 8.65% interest rate on provident fund (PF) deposits for the financial year 2016-17 (FY17).

EPFO may invest up to 15% of investable amount in equity markets

EPFO may invest up to 15% of investable amount in equity markets

Sun, Mar 19, 2017

Dattatreya said the EPFO through fund managers had invested 14,700 crore in ETFs in the current financial year.

Govt to amend EPF scheme to enable subscribers to withdraw 90% of funds for buying homes

Govt to amend EPF scheme to enable subscribers to withdraw 90% of funds for buying homes

Wed, Mar 15, 2017

The proposed EPF scheme will enable around four crore members of retirement fund body EPFO to withdraw up to 90% of their fund for making down payments while buying homes.

Bluechip PSUs eye EPFO funds

Bluechip PSUs eye EPFO funds

Tue, Jan 10, 2017

"As of now, about seven PSUs came forward to take investments from us (EPFO). We received a communication from the Ministry of Finance to increase our investments in PSUs. The return may be higher than what we are getting now," said Labour Minister.

No more cash: All wages to be paid via bank transfer, cheques

No more cash: All wages to be paid via bank transfer, cheques

Wed, Dec 21, 2016

He said, "It has been decided to substitute section 6 of the Act so as to enable the employer to pay the wage to the employed person also by cheque or crediting it to their bank account."

Govt weighing hike in EPFO wage ceiling to Rs 25,000

Govt weighing hike in EPFO wage ceiling to Rs 25,000

Mon, Dec 05, 2016

Despite being pressed by trade unions on different fora, the government has not taken a decision in this regard, especially when it has already increased threshold for coverage under the Employees' State Insurance Scheme (ESI) to Rs 21,000 per month in October last year.

EPFO invests Rs 9,723-crore in ETFs, earns 9.17% absolute return

EPFO invests Rs 9,723-crore in ETFs, earns 9.17% absolute return

Mon, Nov 28, 2016

Retirement fund body EPFO has invested Rs 9,723 crore in exchange traded funds (ETFs) till October this year while absolute return on these investments was 9.17%, Parliament was informed on Monday.

Govt to issue notification on interest of 8.8% on 'inoperative' PF accounts

Govt to issue notification on interest of 8.8% on 'inoperative' PF accounts

Tue, Nov 01, 2016

The Government of India will soon issue a notification authorising retirement fund body Employees Provident Fund Organisation (EPFO) to pay 8.8% interest to 'inoperative' accounts, said Union Labour Minister Bandaru Dattatreya on Monday.

EPFO to invest Rs 13,000 crore in ETFs in FY17: Bandaru Dattatreya

EPFO to invest Rs 13,000 crore in ETFs in FY17: Bandaru Dattatreya

Thu, Sep 29, 2016

Brushing aside strong opposition from the unions, Labour Ministry on Thursday doubled EPFO's investment limit in ETFs to 10% that will result in Rs 13,000 crore of the retirement fund body flowing into stock markets in the current fiscal.

ESIC hikes monthly wage threshold to Rs 21,000: Bandaru Dattatreya

ESIC hikes monthly wage threshold to Rs 21,000: Bandaru Dattatreya

Tue, Sep 06, 2016

The Employees' State Insurance Corporation (ESIC) on Tuesday raised the monthly wage threshold to Rs 21,000, from the current Rs 15,000, for coverage under its health insurance scheme.

Central govt hikes minimum wages for unskilled workers to Rs 350 per day

Central govt hikes minimum wages for unskilled workers to Rs 350 per day

Tue, Aug 30, 2016

The Government of India on Tuesday announced a hike in minimum wage for unskilled non-agricultural workers to Rs 350 per day in an attempt to calm trade unions that have threatened to go on a nationwide strike on September 2.

India continues to have one of the lowest female workforce participation

India continues to have one of the lowest female workforce participation

Tue, Aug 02, 2016

Female workforce participation rate in India is among the lowest in major countries of the world. Unfortunately, the rate has consistently fallen till last data available of 2012.

Labour Ministry exempts start-ups from six more laws

Labour Ministry exempts start-ups from six more laws

Fri, Jul 08, 2016

The Ministry of Labour is likely to write a letter to all the States notifying the new rule.

New mothers across sectors may get paid maternity leave up to six months

New mothers across sectors may get paid maternity leave up to six months

Fri, Jul 01, 2016

The proposal for extending the maternity leave under the Maternity Benefit Act of 1961, received a green signal from Finance Minister Arun Jaitley to be implemented in government and private sectors.

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