SOCIAL PROTECTION FUND
Groww mutual fund issue: What investors can do to safeguard their investments
Hanendra Pratap Singh's cautionary tale of fraudulent activities in mutual fund investments emphasizes the importance of vigilance and utilizing tools like MFCentral for comprehensive portfolio management.
TISS takes back termination letter of over 100 faculty members; announces extra funds for salary
Progressive Students Forum criticized the government for TISS contract terminations and Ministry of Education's entrance exam blunders, citing incompetence and jeopardizing employees' livelihoods and students' future.
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."
Quant Mutual Fund front-running case: What is it and should investors be worried?
Sebi's investigation into front-running at Quant Mutual Fund has investors worried about the fate of their investments due to leaks of confidential information for illicit profit.
Formal job creation under EPFO at 72-month high in April at 1.89 million
Provisional payroll data, released by the ministry of labour and employment on Thursday, shows new formal job created under EPFO was 31.3% higher than 1.44 million net members added to EPFO in March 2024, attributing the surge in membership to various factors, including increased employment opportunities, a growing awareness of employee benefits, and the effectiveness of EPFO's outreach programs.
IMF calls for stronger social safety net to 'broaden' gains from AI
Fiscal policy has a "major role to play" in broadening the financial gains from generative AI technology and preventing a spike in wealth inequality, the IMF said Monday. "Fiscal policy has a major role to play in supporting a more equal distribution of gains and opportunities from generative-AI," IMF staff wrote in a blog post published to accompany the new paper.
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Brands by scions attract VC money; Ola Electric layoffs
Happy Monday! A new wave of brands founded by second generation entrepreneurs is snagging venture capital. This and more in today’s packed edition of ETtech Morning Dispatch.
Centre sanctions Rs 21,253 crore to tackle Kerala's economic crisis
The move comes as Kerala grapples with various economic challenges, including salary delays for government employees and stalled development projects.
EPFO created 11.4% more formal jobs in 2023-24 at 15.4 million, shows payroll data
The provisional payroll data, released by the ministry of labour and employment on Monday, shows 1.44 million net members were added to EPFO in March, 2024 vis-a-vis 1.54 million added in February out of which 0.74 million were new members.
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.
Pakistan PM Shehbaz approves PKR 23 bn immediate provision for PoJK amid clashes, protests
Prime Minister Sharif convened a special meeting in Islamabad, attended by PoJK PM Chaudhry Anwarul Haq, local ministers, and key political figures. Federal ministers and coalition leaders also participated, conducting a comprehensive assessment of the situation.
Is Congress aware of cost of implementing Rahul Gandhi's 'Khata Khat' schemes: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman questioned Congress' understanding of the costs associated with social welfare schemes, including the proposed Rs 1 lakh transfer to women below the poverty line. She highlighted the BJP government's improved fiscal management compared to the UPA era, despite challenges like the Covid-19 pandemic. India's debt-to-GDP ratio is relatively low compared to other economies.
The YouTube Election: Social media emerges as key player in Indian polls
Dahiya can see people’s enthusiasm reflected in the sudden surge in subscribers over the past month, along with better likes-to-views ratio and a higher number of comments on videos even when the content is critical and not celebratory.
Meta's oversight board backs takedown of Australian voter fraud posts
Meta's board upheld removing Facebook posts calling for multiple votes in an indigenous rights referendum due to unclear voter fraud rules. Australia rejected recognizing Aboriginal and Torres Strait Island people.
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.
EPFO Payroll data shows surge in youth employment; 15.48 lakh net members added in February 2024
The EPFO's provisional payroll data for February 2024 reveals a significant increase of 15.48 lakh net members, with the 18-25 age group constituting 56.36% of new additions. The data also shows a positive trend in female employment, with around 2.05 lakh new female members added during the month. The release highlights a diverse workforce, with growth seen in various industries. Overall, the data reflects a positive outlook for youth employment and inclusivity in the workforce.
New AI law to protect Indian publishers; Navi eyes $2 billion valuation
News publishers in India have been seeking changes to the information technology rules to ensure fair compensation for the use of their content by generative AI models. The Digital News Publishers Association (DNPA) grouping has sent a letter and made representations to the ministries of electronics and information technology, and information and broadcasting, seeking protection from likely copyright violations by AI models, ET reported in January.
Donald Trump's Truth Social opens new avenue for conflicts of interest
Trump Media & Technology Group -- the owner of Truth Social, the site Trump uses to rally his backers and blast his opponents -- could present a new, fairly straightforward route for foreign leaders or special interests to try to influence him.
Rahul's Nyay Yatra: Congress promises right to employment, apprenticeships for youth
Promising a law for social security for gig workers such as drivers, guards and delivery boys, Gandhi said, "In Rajasthan, a law was made for their protection, their pension and their social security. We will implement the same law which was made in Rajasthan in the entire country."
Telcos made Rs 10,000 cr extra capex in 2022-23 to support large apps: COAI
Telecom operators spent Rs 10,000 crore in 2022-23 to support traffic from large apps. COAI estimates the government lost Rs 800 crore in revenue. Operators demand contributions from Netflix, WhatsApp, Instagram, X for network infrastructure costs. India crossed the 100 crore subscriber mark in mid-2015 and in last 8.5 years it has added only around 19 crore connections.
EPFO adds 13.95 lakh net members during November 2023
EPFO added 13.95 lakh net members in November 2023, with a higher cumulative net addition during the current financial year compared to the previous year. Majority of new members joining the organized sector workforce are youth, with the 18-25 age group constituting 57.30%. Gender-wise analysis shows a growing participation of female employees, with 20.05% net female members. Maharashtra, Tamil Nadu, Karnataka, Haryana, and Delhi have the highest net member addition.
SEC account hack renews spotlight on X's security concerns
Hackers posted false news about a widely anticipated announcement the SEC was expected to make about bitcoin, leading the cryptocurrency's price to spike and alarming observers.
23 going on 24: Making sense of a chaotic yet colourful year for India's tech sector
From 15.4 billion downloaded games to 138.08 crore people covered by Aadhar, India's tech sector had an eventful 2023. ET takes a look at the top 23 moments from 2023.
For more capital, Byju’s must pass a tough test
These investors have asked the company to file its audited financials for the year ended March 31, 2023, at the earliest. In addition, they want founder Byju Raveendran to loosen his day-to-day control over operations at the firm, the sources added.
Sebi reduces minimum issue size for social stock exchange to Rs 50 lakh
Sebi said it has also permitted NPOs to disclose past social impact report in the fundraising document as per their existing practice subject to disclosure of key parameters such as number of beneficiaries, cost per beneficiary and administrative overhead.
1.69 million formal jobs created under EPFO in August
Labour ministry’s payroll data for EPFO, released on Friday, shows the formal jobs created in August this year were the same as August last year though the net new subscriber addition fell by over 10% month-on-month with 1.87 million subscribers added to the retirement fund body in July this year.
Age-gating rules apply to all firms under data law
Not just social media platforms, but all companies will need to have age verification mechanisms, otherwise, there's no way to record the verifiable consent of users, experts told ET. The mandate will be high cost and time consuming, which is worrying all firms, they added.
IMF chief Georgieva tells cash-strapped Pakistan to 'tax the rich, protect the poor'
IMF Managing Director Kristalina Georgieva has urged Pakistan to increase taxes on the wealthy and protect the poor in order to revitalize the economy and address past shortcomings. Pakistan, which secured a bailout from the IMF in July, is currently grappling with double-digit inflation.
Zomato posts maiden quarterly profit; Data Bill introduced in Lok Sabha
Gurugram-based food delivery platform Zomato reported its first-ever profit in the April-June quarter of FY24, reversing losses of Rs 186 crore from the year-ago period. Striking an upbeat note following the results, the company’s management said it expects profitability to sustain going forward. This and more in today’s ETtech Top 5.
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