PUBLIC PROVIDENT FUND INDIA

EPFO discontinues GIS deductions, to refund past deductions: These government employees to get higher salary

EPFO: Specified employees stand to gain due to EPFO's decision of discontinuing GIS deductions and refunding all deductions made thus far. According to Akhil Chandna, Partner, Grant Thornton Bharat, "The discontinuation of deductions under GIS will indeed increase the take-home salaries. Previously, the deductions were made from employees' monthly salaries as per their pay-scales to fund the GIS."

Cloudphysician raises $10.5 million in funding round led by Peak XV Partners

Online healthcare and technology solutions provider Cloudphysician has raised $10.5 million (about Rs 87.7 crore) in a funding round led by Peak XV Partners, along with Elevar Equity and venture debt firm Panthera Peak. The startup will use the capital to strengthen its presence in India, enter other countries and develop its AI platform.

Vinay Paharia on 4 sectors that may provide good opportunities for solid returns

​Now, in the last one year, we have seen a huge outperformance of companies in the low quality and low growth basket. It is in this space where the valuations have actually significantly re-rated and most of the companies are now trading at a materially higher level in terms of valuations compared to their longer-term averages.

Morgan Stanley PE Asia Fund invests ₹500 crore in Omega Hospitals

"With the increasing incidence of cancer in recent years, our mission is to deliver high-quality, full-service cancer care offerings in India. This partnership with Morgan Stanley PE Asia will help us accelerate this journey, and we are excited to build Omega Hospitals into India’s largest cancer care chain in the next few years," said Dr. Mohan Vamsy, Managing Director of Omega Hospitals.

Public Provident Fund: How nominees, legal heirs can claim a PPF account on death of the subscriber

Public Provident Fund is a popular long-term savings scheme offering tax benefits and attractive interest rates. Here’s how nominees or legal heirs can claim a PPF account on the death of the subscriber.

TRAI broadens scope of telecom consumer education fund

The Telecom Regulatory Authority of India (Trai) on Friday amended regulations 6 and 13 of the Telecommunication Consumers Education and Protection Fund (TCEPF) principal rules to enable utilisation of the fund for expenses relating to preparation, maintenance, audit of accounts, and for the participation of representatives of consumer groups attending meetings of the Committee for Utilisation of Telecommunication Consumers Education & Protection Fund (CUTCEF).

Healthy credit-deposit ratio needed

State Bank of India and other public sector lenders are urging the government to allow incentives to boost deposits, addressing a slump in credit flows.

Latest PPF (Public Provident Fund) interest rate

Plan to tweak capital gains tax regime for debt mutual funds

The government is considering changes to the capital gains tax regime for debt mutual funds to provide relief for the Bharat Bond Exchange Traded Fund, amid concerns over the current taxation structure.

IPO Calendar: Ixigo's Rs 740 crore issue, 4 listings on primary market radar next week

The IPO of Le Travenues Technology which operates the travel platform Ixigo is set to launch on June 10, along with Kronox Labs' debut. Analysts foresee a surge in IPO activity in the coming days.

Nazara subsidiary Absolute Sports buys entertainment news site SoapCentral for $1.4 million

SoapCentral.com provides news and other content related to TV shows and mostly focuses on the US audience.

Top post office schemes: These 9 small savings schemes offer above 7% interest rate

Post office schemes interest rates: The government has kept the interest rates on small savings plans unchanged for the quarter ending June 30, 2024. Here are nine post office schemes that offer more than 7% interest.

Infra.Market raises $50 million in funding from Mars Unicorn Fund at $2.5 billion valuation

Construction materials provider Infra.Market is raising the funds at a $2.5 billion valuation, which matches that from 2021 when the Thane-based company had raised $125 million from investors led by Tiger Global.

India's employment data: PM Modi's naukri numbers appraisal spars with Congress in election fray

Narendra Modi: India is in the final stages of a significant election campaign, with a focus on job discussions taking precedence. The ruling BJP, led by Prime Minister Narendra Modi, highlights positive employment indicators. However, the opposition, particularly Congress leader P. Chidambaram, challenged these claims and demanded transparency on job creation data.

Soleos Solar Energy secures Rs 48.5 cr funding

Soleos Solar Energy secures Rs 48.5 crore funding from various investors including India Ahead Venture Fund, Sunil Singhania's family office, and Madhuri Madhu Kela. The funding will be used for working capital and renewable energy portfolio development.

Latest on DA hike: 25% increase in gratuity due to dearness allowance hike kept on hold; here’s why

Dearness allowance hike: The EPFO has opted to keep in "abeyance" the retirement and death gratuity increase for workers, which is a blow to those employed by the government and organised sector. In March 2024, the Central government raised the Dearness Relief (DR) and Dearness Allowance (DA) by 4%.

New study challenges benefits of healthcare privatisation

A study published in The Lancet Public Health journal highlights the negative effects of healthcare privatisation, particularly in high-income countries like the US, Germany, Canada, and South Korea. The research, led by the University of Oxford, suggests that privatisation seldom improves the quality of care but is associated with higher profits. It challenges the notion that market competition and flexibility in privately-owned healthcare systems lead to better outcomes.

Awfis sets Rs 364-383 price band for IPO

The company expects its differentiated business model, expanding presence in tier-1 and tier-2 cities and increasing demand from large enterprises and startups to help make its public listing a success and drive future growth, founder and managing director Amit Ramani told ET on the sidelines of a pre-IPO conference in Mumbai.

Awfis IPO on May 22: All you need to know

Coworking space company, Awfis Space Solutions, will launch its initial public offering (IPO) on May 22, the company’s red herring prospectus showed. The Delhi-based company has reduced the fresh capital it is raising from the offering to Rs 128 crore from Rs 160 crore earlier.

Do international employees still have to make EPF contributions after Karnataka High Court ruling?

Karnataka High Court's April 25, 2024 ruling deemed special provisions for International Workers under EPF Scheme unconstitutional, affecting EPF contributions, retirement age eligibility, and equality before law for these workers.

Latest General Provident Fund rules: Will interest amount be paid if the GPF contribution exceeds Rs 5 lakh? Govt clarifies

General Provident Fund rules: All government employees can open a GPF account and pay a portion of their salaries to the GPF. When they retire, employees receive the entire money accrued in their GPF account over their service tenure.

EPFO evaluates course of action on Karnataka HC judgement on foreign workers

"While holding the highest regard for the Court's decision, the EPFO (Employees' Provident Fund Organisation) is actively evaluating the course of action in response to this judgement," the EPFO said in response to the queries pertaining to the judgement.

Premier Roadlines IPO to open on May 10, price band at Rs 63-67 per share

The company intends to utilise the proceeds from the issue to pare debt availed by the company, purchase vehicles for commercial purposes, meet working capital requirements and general corporate purposes.