EMPLOYEE HEALTH
Salary structure in more than 40% of Indian companies is tax inefficient: Study
The study, based on an email survey sent to more than 16,000 executives working across the departments of human resources, finance and administration, elicited responses from 97 companies across sectors.
Health insurer Niva Bupa, Sagility India files draft papers with Sebi for IPOs
The IPO, with each share having a face value of Rs 10, consists of a fresh issuance worth Rs 800 crore and an offer for sale totaling up to Rs 2,200 crore by the promoters and existing investors. As part of the OFS, Bupa Singapore Holdings and Fettle Tone will be divesting their stakes.
Mandatory linking of CGHS beneficiary ID with ABHA for central govt employees suspended; should you still do it?
Mandatory linking of CGHS beneficiary ID with ABHA ID: The Ministry of Health and Family Welfare has announced a temporary suspension of the mandatory linking of Central Government Health Services (CGHS) beneficiary ID with Ayushman Bharat Health Account (ABHA) ID. Citing a review of their earlier directive, the Ministry issued an office memorandum on June 25, 2024, stating the decision to put the implementation on hold until further notice. This move aims to reconsider the compulsory integration of the two IDs, allowing for future deliberation on the matter.
Aligning business goals and decoding employee behaviour: A modern strategy for MSMEs
Alignment between business goals and employee behaviour is not a one-time effort but an ongoing process that requires continuous attention and adjustment.
How to cut income tax outgo by Rs 75,000 with NPS, health insurance
How to reduce income tax outgo: Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments. TaxSpanner estimates that Tuteja can reduce his tax by around Rs.75,000 if his company offers him some tax-free emoluments as well as the NPS benefit. Tuteja also needs to invest in the pension scheme on his own, buy health insurance for his parents, and avoid booking taxable capital gains.
Dead mouse found in Ahmedabad eatery's sambar sparks outrage: Health officials respond
A customer found a dead mouse in sambar at an Ahmedabad eatery, sparking outrage on social media. This incident follows recent food safety concerns, including a human finger in ice cream and a dead mouse in Hershey’s syrup. The Ahmedabad Municipal Corporation (AMC) issued a notice to the restaurant, highlighting severe health violations. Food safety officer Bhavin Joshi urged local businesses to maintain strict hygiene to prevent such incidents.
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Health tech startup Alyve Health raises $5.5 million funding from Axilor Ventures, others
Health tech startup Alyve Health raised $5.5 million led by Axilor Ventures for platform enhancement and talent acquisition in Mumbai. Earlier in April 2022, it raised seed funding of $900,000 from Axilor Ventures and 1Crowd Fund.
Mental health institute in Chandigarh receives bomb threat over email
A mental health institute in Chandigarh received a bomb threat via email, prompting the evacuation of patients and staff while authorities conducted a search operation. The threat was part of a series of emails sent to hospitals in Delhi and south India. Despite extensive searches by police, bomb disposal squads, and fire officials, no explosives were found. The institute's deputy medical superintendent reported the incident and email contents to the police.
Nearly 90% Indian employees say they are suffering, over 40% are sad: Gallup Workplace Report
The Gallup 2024 State of the Global Workplace report reveals that only 14% of Indian employees feel they are "thriving," while 86% are "struggling" or "suffering." South Asia shows similar trends, with low levels of thriving. Despite high daily anger rates, India boasts a 32% employee engagement rate, surpassing the global average of 23%.
Zepto’s mega financing; shareholder battle at Kenko Health
Happy Wednesday! Zepto is holding talks with investment fund DST Global and venture capital firm Lightspeed for funding. Details on this and more in today's ETtech Morning Dispatch.
Insurtech startup Kenko Health stares at shutdown: What went wrong?
Insurtech startup Kenko Health is facing closure due to a shareholder battle and funding issues. The company, backed by Peak XV Partners and Orios Venture Partners, struggled to raise capital from the Hero Group, leading to a stalemate. With no immediate funding prospects, the $39.7 million-valued firm is on the verge of shutdown, impacting its workforce and operations.
IKEA did what others only talk of doing & it was a gamechanger for India staff
IKEA faced high employee turnover globally. In India, to retain staff, IKEA introduced subsidized daycare, 26 weeks of parental leave, and a five-day workweek. These benefits have significantly improved employee satisfaction and retention, reflecting IKEA's commitment to addressing local worker needs and enhancing their work-life balance.
Why breaks are important to work hard and achieve success, of both employees and organisations
Aditya Narayan Mishra, Managing Director and CEO of CIEL HR Services, emphasizes the importance of breaks and holidays for workplace respect and gratitude. Somdutta Singh, Founder and CEO of Assiduus Global Inc, highlights the role of breaks in preventing burnouts and promoting overall well-being.
Not just employers with benefits! India Inc looks to be more to woo talent
Corporate India is offering new-age benefits, realizing that attracting and retaining talent requires more than just high salaries. Cos offer new-age perks like cash for self-development, health insurance for siblings and pet care to woo talent
'Ek Chamaat Maarenge, Bihar Pahunch Jaogi': HSBC Hyderabad employee alleges workplace harassments, LinkdIn post goes viral
HSBC Toxic workplace (Google Trends): HSBC employee Nitika Kumari's LinkedIn post about workplace toxicity has gone viral. She detailed incidents of ethnic insensitivity and objectifying remarks, highlighting inadequate responses from management and HR. The post received widespread support and calls for action. A survey by Harappa Insights reveals that toxic workplaces are a primary reason for the 'Great Indian Resignation.'
Byju's processes employees' May salaries from business collections
BYJU'S processed employees' May salaries from business collections. Salaries paid from company's collections, highlighting financial health and debt-raising challenges. Company raised debts, implemented strategic initiatives. Investors, including Prosus, General Atlantic, Sofina, Peak XV, Tiger, Owl Ventures, approached NCLT Bengaluru.
Companies look to rework benefits for multi-generational workforce: Survey
A survey by Marsh India Insurance Brokers revealed 70% of companies seek new-age benefits and 50% aim to cater to the multi-generational workforce, focusing on Generation Z. Employers are designing comprehensive benefits tailored to diverse needs, including mental health support and flexible solutions.
No tax exemption on concessional or interest free loan from the employer, not even for bank employees, says SC
Tax on concessional interest rate loan: The Supreme Court of India has stated that bank employees have to have income tax if they have availed loan from their employers at concessional interest rate or interest free rate. However as per our calculations, even if bank employees pay income tax on this loan, they will still have some savings.
Eat, pray, work.. want a detox retreat? Step into your office
According to a report by fitness technology company GOQii last month, almost 45% of India's population hovers dangerously close to being classified as unhealthy, adversely affecting not only individual mental and physical well-being but also diminishing productivity.
As summer turns extreme, manufacturing firms go the extra mile to keep workers cool
As extreme summer heat leads to increased absenteeism and reduced productivity, manufacturing and engineering firms like Tata Steel, Larsen & Toubro, Nayara Energy, Thermax, and Maruti Suzuki are implementing measures to protect their employees. Initiatives include providing desert coolers, air-conditioned rest areas, and AC transportation, distributing rehydration salts, conducting medical check-ups, and offering doctor consultations. Tata Steel adjusts job schedules to minimize direct sunlight exposure, while L&T extends lunch breaks for outdoor workers.
Even traditional companies are adapting to Gen Z employees: Teamlease
Krishnendu Chatterjee discusses the impact of purpose-driven work values on individual and employer health, referencing Tom Rath's concept of 'working to live.' He emphasizes the importance of aligning organizational purpose with employee retention rates.
Razorpay revamps health insurance policy, provides coverage for vital medical treatments
Razorpay unveils new employee health insurance policy covering vital treatments like HIV/AIDS and conditions such as polycystic ovary syndrome. Employees can customize plans to include siblings, LGBTQIA+ partners, and enhanced maternity benefits. The move aligns with the trend of personalized, comprehensive healthcare offerings in India.
Canada govt imposes Rs 82 lakh penalty on Infosys for alleged underpayment of tax
"Penalty imposed on alleged underpayment of Employee Health Tax for the year ended December 31, 2020," the filing said, which mentioned a penalty of 1,34,822.38 Canadian dollars has been imposed on the company. Infosys said that there is no material impact on financials, operations or other activities of the company.
PM Gati Shakti to aid in expanding social security
To begin with, the ministry has geotagged 1.3 million establishments covered under the Employees' Provident Fund Organisation (EPFO), about 1.5 million under the Employees' State Insurance Corporation (ESIC) and 104 ESIC hospitals for assessing the current social security coverage and planning future expansion.
Stepping up to beat the heat: India Inc lines up cool work plans for staff this summer
Several companies in India are implementing flexible work practices for white-collar workers, particularly those in sales and field-related roles, to protect them from the extreme summer heat and maintain efficiency. With the Indian Meteorological Department warning of a potentially record-breaking hot year in 2024, companies like Panasonic, MG Motors, KPMG, Deloitte, Mudrex, and PeepalCo are adopting measures such as flexible work hours, online meetings, hydration stations, and awareness campaigns on heat exhaustion.
Mandatory linking of CGHS beneficiary ID with ABHA for central govt employees: Check new deadline, other key details
Linking of CGHS beneficiary ID with ABHA ID: Relief for CGHS beneficiaries! The Ministry of Health and Family Welfare (MoH&FW) has extended the deadline for linking CGHS beneficiary IDs with ABHA numbers by 120 days, from June 30, 2024. Initially, the ministry asked all the central government employees to mandatorily link their CGHS beneficiary IDs with ABHA numbers from April 1, 2024. The ministry said, "To assist the CGHS beneficiaries, KIOSKS shall be made operational at all the wellness centers by 30.06.2024." Here's what all the central government employees must know about linking CGHS beneficiary ID with ABHA ID.
Workplace injury reports show slight rise among top 1,000 listed companies
According to recent data from Prime Database, shared exclusively with ET, 268 companies reported 5,244 work-related injuries to white-collar employees in 2022-23, compared to 392 companies reporting 9,867 injuries to blue-collar workers during the financial year.
More companies offer IVF coverage even as they rationalise costs
Rising IVF coverage in corporate health insurance renewals with sub-limits managing premiums. Firms add cosmetic benefits amid medical inflation. Growth attributed to health and wellness benefits.
Burmans ask Care Health to claw back Rs 350 crore ESOPs given to Religare's Saluja
The Burmans have threatened the Care board that if it fails to nullify the employee stock options, then legal action will be taken against the directors, including attachment of their personal assets.
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