Page 3 - Social Security

Govt finally awoken to need for national law for gig workers' welfare: Cong

The Congress on Monday took a swipe at the government after it stated that it is committed to extending social security benefits to gig workers, saying it has "finally awoken" to the need for a comprehensive national law for such workers' welfare and that it is welcome to borrow from its policy on this urgent issue. The opposition party's remarks came a day after Labour Minister Mansukh Mandaviya said the government is actively exploring various avenues to ensure gig and platform workers are covered under social security. Congress general secretary in-charge communications Jairam Ramesh said the government has "finally awoken" to the need for a comprehensive national law for welfare of gig workers. The Congress and Rahul Gandhi took this issue up aggressively during the Bharat Jodo Yatra, and the Congress governments in Karnataka and Rajasthan have already legislated to provide gig workers with rights and protection, Ramesh said on X. It was also a key pillar of the party's Paanch

Female workforce, employee welfare to drive inclusive growth: Labour secy

Decriminalization of labour laws, increasing female workforce participation, social security, labour welfare will drive inclusive growth in the country, a senior government official said on Thursday. Secretary for Ministry of Labour & Employment Sumita Dawra made the remarks at an industry interaction organised by Confederation of Indian Industry (CII) and Employers' Federation of India (EFI) in Bengaluru. In the session attended by 200 industry members, "Sumita Dawra...highlighted about the Ease of Living and Ease of Doing Business reforms introduced by the Ministry of Labour & Employment, GoI. She emphasised on decriminalization of labour laws, increasing female workforce participation, social security, labour welfare that will drive inclusive growth in India," a CII statement said. Dawra also mentioned on employment, an improving trend is evidenced by PLFS (Periodic Labour Force Survey) & KLEMS data, besides EPFO net subscribers have gone up by more than 6 crore since ..

Trump biggest threat to health, welfare programmes: Harris campaign

Former US president Donald Trump, who is also the Republican presidential nominee, is the biggest threat to health, welfare and social security programmes, the rival Harris campaign alleged Tuesday. A second Trump term would undo nearly 60 years of progress in helping low- and middle-income Americans access the quality, affordable health care they need, the Harris campaign said in a statement. Donald Trump is the biggest threat to Medicare, Medicaid, and Social Security since their inception. He tried cutting Social Security and Medicare every single year he was in office, Harris for President spokesperson Ammar Moussa said. There is only one candidate in this race who will protect and expand earned benefits programmes that millions of Americans rely on Vice President Harris, Mossa said. According to the Harris campaign, Trump and his extreme Project 2025 allies will do everything in their power to gut these programmes because they've come out and said it. Trump proposed cuts to

Insurance: A social security product

A lifeline in times of crises

Country needs national social security architecture for gig workers: Cong

Citing legislations by its state governments to ensure justice for gig workers, the Congress on Thursday said India needs a national legal and social security architecture for such workers and hoped that the forthcoming Union Budget will take a step in that direction. Congress general secretary, in-charge communications, Jairam Ramesh said the Karnataka Platform-based Gig Workers (Social Security and Welfare) Bill, 2024 is a landmark rights-based legislation that brings formal rights and social security to platform-based gig workers in the state. The Karnataka Government last month released a draft of the proposed Karnataka Platform Based Gig Workers (Social Security and Welfare) Bill, 2024 aimed to protect their rights in the state with creation of a board, welfare fund and grievance cell among other mechanisms. Ramesh listed some of the features of the bill such as establishing the gig worker's social security and welfare fund and gig workers welfare board to advocate for gig ...

Worker groups demand social security fund for unorganised workers in Budget

The matter was also discussed with the finance minister Nirmala Sitharaman on Monday as central trade unions made representations as part of the pre-Budget consultation

Khandu approves Rs 100 cr under CM's Social Security Scheme in Arunachal

Hours after being sworn in, Arunachal Pradesh Chief Minister Pema Khandu on Thursday signed his first official document, approving the release of Rs 100 crore under the Chief Minister's Social Security Scheme (CMSSS) which will benefit approximately 80,000 people across the state. The CMSSS, a state flagship programme, provides pensions to elderly persons above 60 years, widows, and divyang jan (differently abled). "Considering the fact that preparations for the state budget has been delayed due to the general elections, it is necessary that the benefits under CMSSS reach the needy beneficiaries at the earliest," he said. Guided by the principles of Antyodaya, the state government is dedicated to the most vulnerable and marginalised sections of society, an official communiqu said. In the last financial year, Rs 90 crore was allocated under the scheme benefiting 56,030 elderly persons, 8,782 widows and 3,950 differently abled. The Khandu government had launched the scheme in 2019 a

Govt should create centralised authority for gig workers, says report

The report consulted with 10 platforms having nearly 4.5 million workers and a total revenue of Rs 56,400 crore along with two workforce providing platforms

Govt has taken various measures to enhance social security net: Khattar

Haryana Chief Minister Manohar Lal Khattar on Friday said the state government has taken various measures to enhance the social security net for people. While presenting the budget for 2024-25 in the Assembly, Khattar, who also holds the finance portfolio, said the 'Old Age Samman Allowance' and related pensions are now Rs 3,000 per month, higher than Rs 1,000 in December 2014. The provision for social security pensions has been increased from Rs 1,753 crore in 2013-14 constituting 3.2 per cent of the total budget expenditure to Rs 10,971 crore in FY 2024-25, constituting 5.78 per cent of the total budget expenditure, he said. The total number of beneficiaries is now over 31.51 lakh increasing from 22.64 lakh in December 2014, said Khattar. "We have taken the government to the doorstep of the beneficiary with the implementation of the 'Old Age Samman Allowance', 'Divyang Pension', and widower pension for those above the age of 40 years and have been widowed and unmarried pension fo

Nagaland govt employees protest, demand restoration of old pension scheme

A large number of government employees in Nagaland took to the streets on Friday, demanding scrapping of the new pension scheme' and restoration of the earlier system. State government employees recruited after 2010, the year the new pension scheme was implemented, converged at the civil secretariat junction here under the aegis of the Nagaland National Pension System Government Service Employees' Forum (NNPSGSEF). NNPSGSEF president Moanungsang said the peaceful dharna was held to stand in solidarity with the national strike organised by the All India State Government Employees Federation (AISGEF). He said the forum had submitted a representation to the state government in September 2023, but there has been no response. NNPSGSEF said the old pension scheme provided social security to employees with guaranteed life-time reasonable pension. However, the new scheme does not provide social security and guarantees lower pension per month to long-surviving pensioners, it claimed.

EPFO recommends 8.25% interest rate on employees' provident fund for FY24

The previous high level of EPF interest rate was at 8.5% in 2019-20

Odisha CM raises pension for beneficiaries under social security schemes

In a relief for the distressed people covered under various social security schemes, Odisha Chief Minister Naveen Patnaik Saturday announced a hike of Rs 500 each in their monthly pension. As many as 36.75 lakh beneficiaries would receive the revised amount from February. Each of them will receive the minimum enhanced amount between February 20 and 25, a release issued by the CMO said. The beneficiaries include elderly, widows, persons with disabilities, unmarried women, AIDS patients, transgenders, orphan children and widows of COVID victims. In 2008, the state government introduced the Madhu Babu Pension Yojana (MBPY) after merging two old schemes of the 1980s. Under the MBPY scheme, beneficiaries up to 79 years of age were eligible for a monthly pension of Rs 500, while those beyond 80 years Rs 700 per month. Similarly, beneficiaries with 60 per cent or more disability and above 80 years of age were eligible for a monthly pension of Rs 900. They will now get Rs 1,000, Rs 1,20

EPFO fixes 8.25% interest rate on employees' provident fund for 2023-24

Retirement fund body EPFO on Saturday fixed a three-year high interest rate of 8.25 per cent on employees' provident fund (EPF) deposits for 2023-24. In March 2023, the Employees' Provident Fund Organisation (EPFO) had increased the interest rate on EPF marginally to 8.15 per cent for 2022-23 from 8.10 per cent in 2021-22. In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its over six crore subscribers, from 8.5 per cent in 2020-21. This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent. "The EPFO's apex decision making body Central Board of Trustees (CBT) has decided to provide 8.25 per cent rate of interest on EPF for 2023-24 at its meeting on Saturday, a source said. The 8.5 per cent interest rate on EPF deposits for 2020-21 was decided by CBT in March 2021. After the CBT's decision, the interest rate on EPF deposits for 2023-24 will be sent to Ministry of Finance for concurrence. After th

Decision on FY24 interest rate likely in EPFO board meet on Feb 10

A letter from the social security organisation regarding the convening of the 235th CBT meeting has been sent to all the board members, soliciting their presence in the meeting

Space scientists to sarpanches: 13,000 special guests attend R-Day parade

From space scientists to sarpanches and from entrepreneurs to vendors, 13,000 special guests watched the 75th Republic Day parade on Kartavya Path here Friday. The special invitees referred to as "True VIPs" included best performers in various fields and those who made the best use of various schemes of the government such as the Pradhan Mantri Awas Yojana (Rural & Urban), PM Ujjwala Yojana, PM Street Vendor's Aatmanirbhar Nidhi (PM SVANidhi), PM Krishi Sinchayee Yojana, PM Fasal Bima Yojana, PM Vishwakarma Yojana and the Rashtriya Gokul Mission among others. Sarpanches of 'vibrant villages', women workers of the Swachh Bharat Abhiyan, electronics manufacturing sector and the Central Vista Project, women scientists of ISRO, yoga teachers (Ayushman Bharat), winners of international sports events and Paralympic medalists were also among the invitees.

India negotiating with UK to avoid double contribution to social security

India is working on a treaty with the UK under the proposed Free Trade Agreement (FTA) to avoid double contribution to social security funds by Indian professionals working for limited time period in Britain, an official said on Thursday. Indian professionals working for a limited period in Britain contribute to their social security funds but not able to get its benefit as they return once the projects are complete. "We are negotiating the double contribution treaty with the UK under the FTA. There should not be any double contribution towards social security schemes," the official said. It is a long-standing demand of Indian businesses operating in Britain to cut down on the additional cost burden associated with bringing in skilled Indian professionals on a short-term basis. The compulsory National Insurance (NI) contributions of skilled Indian professionals in the UK on temporary visas remains an additional cost burden of about GBP 500 per employee a year, over and above all .

India to seek greater market access for mangoes in TPF meet with US on Fri

India will raise a number of issues with the US such as inking social security pact, and greater market access for mangoes in America during the Trade Policy Forum (TPF) meet here on Friday, an official said. The official said India will also raise issues pertaining to delay in visa; increasing exports of table grapes, pharma goods, and marine products like wild caught fish and shrimp; reinstating the Generalized System of Preferences (GSP) status to India; and export control regulations for high-tech products and technologies. The 14th TPF meet will be co-chaired by US Trade Representative Katherine Tai and Commerce and Industry Minister Piyush Goyal here. Social security, or totalisation agreement, is a long-pending demand of the country, as it will provide social security to Indian professionals in America. This would eliminate dual social security deduction, both in the home country and in the nation where an employee works. Under this, an expatriate in either country need not

ESIC leads in providing social security benefits by formalising workforce

ESIC is the primary government scheme that provides socio-economic protection against sickness, maternity, disablement, and death due to work-related injuries to employees in the organised sector

Proposed India-UK FTA: Social security impasse prolongs negotiations

India is pushing for a social security pact in the proposed deal, considering that the UK is its second-largest service export destination after the US

Social security benefits for salaried employees shrinking post pandemic

Workers in rural areas, women hit harder