Page 5 - Social Security

Centre to soon merge social security contributions by small firms: Report

Currently, the companies have to make separate payments towards the Employees' Provident Fund Organisation (EPFO) and Employees' State Insurance Corporation (ESIC)

EPFO aims to invest more in equity for younger members, expand horizon

At present, EPFO is allowed to invest between 5-15 per cent of its investible deposits in equity instruments irrespective of the age or risk profile of its members

ESIC-run social security scheme adds 1.46 mn new members in Aug: Report

Around 14.62 lakh new members joined the ESIC-run social security scheme in August 2022, according to official data released on Tuesday. The latest data is part of a report -- Payroll Reporting in India: An Employment Perspective - August 2022 -- released by the National Statistical Office (NSO). It showed that the gross new enrolments with Employees' State Insurance Corporation (ESIC) rose to 1.49 crore in 2021-22, from 1.15 crore in 2020-21. It was 1.51 crore in 2019-20 and 1.49 crore in 2018-19. From September 2017 to March 2018, around 83.35 lakh new subscribers joined the ESIC scheme. The report said gross new enrolments with ESIC from September 2017 to August 2022 were 7.22 crore. The NSO report is based on the payroll data of new subscribers of various social security schemes run by ESIC, the Employees' Provident Fund Organisation (EPFO) and the Pension Fund Regulatory and Development Authority (PFRDA). According to the report, net new enrolments with retirement fund body

Punjab govt decides to restore old pension scheme for its employees

The Punjab government on Friday took an in-principle decision to restore the old pension scheme for its employees. Giving a Diwali gift, the government has decided to implement the old pension scheme, Chief Minister Bhagwant Mann announced after a meeting of the state cabinet here. "We have taken in-principle decision to this effect in the cabinet meeting. This will benefit lakhs of employees...We are bringing Punjab under the old pension scheme," he said. Finance Minister Harpal Singh Cheema said that employees will be given the option to join the old pension scheme. Mann, a month ago, had said that his government is considering restoring the scheme for government employees. Restoration of the old pension scheme, which was discontinued in 2004, has been one of the major demands of state government employees. In August last year, Cheema, a senior Aam Aadmi Party leader, had promised to restore the old pension system if the party was voted to power in Punjab.

ESIC to expand its reach in over 750 districts of country: Labour Minister

The 350 bedded hospital will be spread over 9.5 acres and would entail an expenditure of Rs 500 crore

Need to improve employment conditions for strong recovery: Bhupender Yadav

Union Labour Minister Bhupender Yadav on Wednesday underlined the need for improving employment conditions of workers for a strong and resilient recovery post pandemic. Yadav attended the G20 Labour and Employment Ministers' meeting at Bali, Indonesia on September 13-14, 2022. He spoke about the importance of countries coming together for promotion of responsive and robust policies relating to employment generation, social protection, skilling and formalization, in the post-pandemic period for ensuring a more resilient, equitable and sustainable recovery. He also commended Indonesia for selecting the priority areas critical in the ever-changing world of work, a labour ministry statement said. These priority areas are labour market integration of persons with disabilities, sustainable growth and productivity in human capacity development through strengthening community-based vocational training. Other priority areas are promoting entrepreneurship and supporting small and medium ...

Social security pension now quicker with auto-approval mechanism

In this new auto-approved mechanism, the beneficiaries receive the pension payment order (PPO) immediately after linking their Janaadhar card with the scheme.

ESIC-run social security scheme adds 1.5 mn new members in June: Data

Around 15.47 lakh new members joined the ESIC-run social security scheme in June 2022, according to official data released on Thursday. The latest data is part of a report -- Payroll Reporting in India: An Employment Perspective - June 2022 -- released by the National Statistical Office (NSO). It showed that the gross new enrolments with Employees' State Insurance Corporation (ESIC) rose to 1.49 crore in 2021-22, from 1.15 crore in 2020-21. It was 1.51 crore in 2019-20 and 1.49 crore in 2018-19. From September 2017 to March 2018, around 83.35 lakh new subscribers joined the ESIC scheme. The report said gross new enrolments with ESIC from September 2017 to June 2022 were 6.92 crore. The NSO report is based on the payroll data of new subscribers of various social security schemes run by ESIC, the Employees' Provident Fund Organisation (EPFO) and Pension Fund Regulatory and Development Authority (PFRDA). According to the report, net new enrolments with retirement fund body EPFO stoo

Income taxpayers can't join Atal Pension Yojana from Oct 1: Govt

Social security scheme should reach the poor and underprivileged, says official

Labour codes not to kick in from Friday even as states, UTs frame rules

The Centre has already finalised rules on all the four codes

Indian gig economy to have 23.5 mn workers by 2029-30: Niti Aayog report

Think-tank recommends social security for gig workers

ESIC-run social security scheme adds 1.4 million new members in March

From September 2017 to March 2018, around 8.33 million new subscribers joined the ESIC scheme

Delhi HC sets aside AAP government's doorstep ration delivery scheme

Court said the Delhi govt is free to bring another doorstep delivery scheme but it cannot use grains provided by the Centre for this doorstep scheme

ESIC scheme adds around 1.28 million new members in January

Around 12.84 lakh new members joined ESIC-run social security scheme in Jan 2021 against 15.34 lakh in the previous month, official data showed on Friday

Why Delhi's anganwadi workers are fighting for higher pay, social security

Anganwadi workers work overtime, and keep critical health and nutrition programmes running, even as they are paid little, receive no social security, or adequate protection from the Covid-19 pandemic

Employer has to pay damages for delay in payment of EPF contribution: SC

An employer is under an obligation to pay the damages for delay in payment of the contribution of Employees' Provident Fund (EPF) of an employee, the Supreme Court said on Wednesday. A bench of Justices Ajay Rastogi and Abhay S Oka said Employees Provident Fund & Miscellaneous Provisions Act is legislation for providing social security to the employees working in any establishment and engaging 20 or more persons. The top court said that the Act casts an obligation upon the employer to make the compulsory deduction for provident fund and to deposit in the workers' account in the EPF office. We are of the considered view that any default or delay in the payment of EPF contribution by the employer under the Act is a sine qua non for the imposition of levy of damages under Section 14B of the Act 1952 and mens rea or actus reus is not an essential element for imposing penalty/damages for breach of civil obligations/liabilities, the bench said. The top court was hearing an appeal filed .

Precarious employment

Omicron has increased livelihood concerns

Why does social security look like a pipe dream for gig workers?

Lakhs of gig workers in India continue to work amid little or no access to social security. We find out more about their plight and also if the new labour codes will address their social security void

TMS Ep87: Gig workers, K Srinath Reddy, FPI buying, Treasury Bills

Social security a pipe dream for gig workers? What's K Srinath Reddy's prescription to flattening the Omicron curve? How can India sustain FPI buying in 2022? What are Treasury bills? All answers here

E-Shram doesn't offer clarity on social security benefits, say experts

Mandatory Aadhaar-based mobile linkage is proving a hurdle for registration of many workers