The Employees’ Provident Fund Organisation (EPFO) has recently introduced a major change in its claim settlement process. The new rules provide exemptions for specific categories of employees from linking their Universal Account Number (UAN) with Aadhaar. This change aims to simplify the claims process for those facing difficulties in obtaining an Aadhaar number, especially for …
The Government of India has undertaken significant measures to enhance the welfare and social security of workers, particularly focusing on unorganised and migrant labour. Through a combination of comprehensive social security schemes and the establishment of the E-Shram portal, the aim is to create a robust framework for worker benefits and empowerment. These initiatives address …
The Subhadra Yojana is an empowering initiative launched by the Government of Odisha, aimed at enhancing the financial independence of women across the state. Announced by Prime Minister Narendra Modi on May 12, 2024, this scheme offers eligible women a total financial support of ₹50,000 over five years. By fostering self-reliance, it seeks to improve …
In a disturbing reminder of how technology can be weaponised, two men were arrested for allegedly defrauding a homemaker in Kochi of ₹4.12 crore in a “digital arrest” cyber scam. The scammers posed as Delhi Police officers, telling the victim that a fraudulent bank account had been opened using her Aadhaar card. The terrified homemaker …
The Central Board of Direct Taxes (CBDT) has granted a 15-day extension for taxpayers involved in international or specified domestic transactions who need to file reports under Section 92E of the Income-tax Act. This extension aims to provide additional time for compliance with transfer pricing regulations. Deadline Extension and Requirements Originally, the deadline for filing …
Multiple important rule changes are set to impact daily life and finances across India starting December 1, 2024. These updates are designed to improve transparency, fairness, and financial management. Here’s a summary of the key changes: LPG Price Adjustments Oil marketing companies may adjust the prices of LPG cylinders each month based on international market …
The EPFO (Employees’ Provident Fund Organisation) has decided to reinvest 50% of the proceeds from redeeming its exchange-traded funds (ETFs) back into equity. This move, approved by its 42-member central board of trustees, aims to increase equity exposure and generate higher income for its nearly 70 million subscribers. Board Meeting Highlights First Meeting of FY24 …
Deadline Nears for UAN Activation and Aadhaar Linkage The Employees’ Provident Fund Organisation (EPFO) has mandated the activation of the Universal Account Number (UAN) and Aadhaar linkage by November 30, 2024. This requirement is crucial for employees and employers to access the benefits of the Employment-Linked Incentive (ELI) scheme, introduced in the Union Budget 2024 …
As Infosys rewards its employees with a performance bonus this November, many are contemplating how best to allocate this additional Infosys performance bonus income. While it’s tempting to indulge in extravagant purchases or splurge on luxury items, it’s important to remember that smart management of this bonus can have a far greater impact in the …
The Majhi Ladki Bahin Yojana, initiated by the Maharashtra state government in July 2024, aims to financially uplift women across the state. Under the scheme, eligible women receive a monthly stipend of Rs.1,500 to support their financial needs. Following the Mahayuti alliance’s victory in the Maharashtra Assembly elections, many beneficiaries are keen to know about …
