Connect with us

Uncategorized

EPFO records 6.55 lakh net new enrolments in June from 1.72 lakh during May 2020

Published

on

NEW DELHI: The Employees’ Provident Fund Organisation (EPFO) saw a robust rebound in net new subscribers with addition of 655,000 subscribers in June as industries and services resumed operations after two months of lockdown. Barely 20,000 and 172,000 subscribers were added to the EPFO in April and May respectively, resulting in net additions of about 847,000 in the first quarter of this financial year.

“The month of June has seen speedy recovery with addition of 6.55 lakh net subscribers registering a remarkable 280% month on month growth,” the EPFO said in a statement on Thursday. “The subscriber base growth is on account of increased number of new subscribers, lower exits and higher rejoining by exited members.”

New subscribers increased about 64% to 498,000 in June from 303,000 in May while exits from EPFO subscriber base declined nearly 33% to 296,000 in June from 445,000 in May. The EPFO saw net addition of 1.2 million subscribers in June this year while 2019-20 saw one million new subscribers on average every month.

EPFO

Even the number of members who exited and then rejoined increased 44% in June from May, with more subscribers choosing to retain membership by transferring funds rather than opting for final settlement, said the EPFO. The data comprises all the new members who joined during the month and whose contribution was received.

The EPFO payroll data showed the enrolment of female workers went up to 106,059 in June from 37,085 in April in absolute terms, even though the overall female participation in the workforce remained low.

However, the highest jump in formal employment creation was in the expert service category which predominantly consist of manpower agencies, private security agencies and small contractors.

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Uncategorized

ESIC: Govt may retrospectively relax conditions for unemployment benefits under Employees’ State Insurance

Published

on

By

The labour ministry has proposed to provide 50 per cent average per day earnings of the subscriber during four contributory periods in the past two years for 90 days of unemployment, as against 25 per cent provided earlier.

Synopsis

The labour ministry has moved a proposal to amend the conditions under the Atal Beemit Vyakti Kalyan Yojana from March, when the government imposed a nationwide lockdown, which will be taken up by the Employees’ State Insurance Corporation (ESIC) board on Thursday.

New Delhi: The government is likely to retrospectively relax conditions for unemployment benefits under the Employees’ State Insurance, which saw zero contribution from eight million subscribers in April and May.The labour ministry has moved a proposal to amend the conditions under the Atal Beemit Vyakti Kalyan Yojana from March, when the government imposed a nationwide lockdown, which will be taken up by the Employees’ State Insurance

  • GIFT ARTICLE
  • FONT SIZE
  • SAVE
  • COMMENT

To Read the Full Story, Become an ET Prime Member

Sign in to read the full article

You’ve got this Prime Story as a Free Gift

Access the exclusive Economic Times stories, Editorial and Expert opinion

Already a Member?

Why ?

  • Sharp Insight-rich, Indepth stories across 20+ sectors

  • Access the exclusive Economic Times stories, Editorial and Expert opinion

  • Clean experience with
    Minimal Ads

  • Comment & Engage with ET Prime community

  • Exclusive invites to Virtual Events with Industry Leaders

  • A trusted team of Journalists & Analysts who can best filter signal from noise

Source link

Continue Reading

Uncategorized

Hike to spend up to Rs 40,000 per employee to facilitate work from home throughout 2020

Published

on

By

New Delhi: Mobile messaging platform Hike on Thursday said all its employees will work from home throughout this year and the company will spend up to Rs 40,000 per staffer to help them create a comfortable workspace at their home.

The company, however, has kept its office open for employees who want to access special technologies available within the premise for their work, it said.

Prioritising employee safety and well-being amid the COVID-19 pandemic, the company said it has adopted “remote-first approach for the rest of 2020.”

Backed by global investors including SoftBank, Tiger Global, Tencent, Foxconn and Bharti Enterprises, Hike has over 160 employees at present.

The company, in a statement, said that “valuing employee wellbeing over everything else, Hike’s move to a remote-first culture would make working remotely their default modus operandi.”

However, for those looking to come to the office, it will remain an option with strict guidelines to ensure social distancing and sanitation.

Hike has that it will spend up to Rs 40,000 per employee to help them create a workspace at home.

“Hike would be delivering an ergonomic office chair and a brand new compact office table to its employees residing in Delhi NCR.

“For employees presently outside of Delhi NCR Hike has announced a reimbursement of up to Rs 10,000 for the purchase of their own chair and table to set up their workstation at home,” the statement said.

Hike would also be supporting its employees for any internet and IT accessories requirement.

Source link

Continue Reading

Uncategorized

Six in 10 engineers prefer live sessions with a mentor for query resolution: Survey

Published

on

By

Bengaluru: A majority of students side with the online medium for its ability to provide quick answers and convenience of access when it comes to preferential mode of learning, according to a new survey.

In a survey conducted by BridgeLabz, it was found that 42% of freshers find live sessions with mentors best for on-the-spot query resolution, while 21% find offline classroom-based training to be a viable learning option, collaboratively making 63% of engineers opting for live sessions as a preferred choice.

The trend can be accredited to the experiential learning model and upskilling programmes that allow learners to seek live help from industry experts while they hone their skills leveraging online platforms.

Digitisation has emerged as the most powerful tool amidst the pandemic. IP-driven incubation lab BridgeLabz surveyed engineering graduates to gain insights into the prevalent learning and employment landscape. The survey themed “Current Trends in Jobs and Upskilling of Engineering Graduates” reveals that out of the 1,100+ respondents, 94% unanimously said they considered learning a new skill during this period.

Though the lockdown had shuttered onsite operations for most learning organisations, it opened new avenues for the digital ones. Leveraging extra time at home and a gamut of online upskilling programmes, engineers are solidifying their resumes to sail through the new normal.

Three in 10 respondents prefer recorded classes for their ease of accessibility from anywhere, anytime while offline mode has the least takers. Only 21% choose an offline classroom-based learning model. The digital disruption is not only affecting the learning preferences but also the working landscape.

A whopping 72% of users want to work remotely as opposed to 28% who wish to work from the office. Besides, the engineering graduates seek more stability with their job profiles owing to the current volatility in the employment market.

When asked about the kind of job roles, 90% of the participants say they prefer a regular, full-time job. Part-time jobs are not popular with coders anymore. Only 10% of coders may opt for a freelancing job amidst the current scenario.

“It is good to see that coders are using their time at home to develop a new skill. This will eventually help them stand out from the rest of the crowd. It is also interesting to see that they are more focused on getting a permanent job to strengthen their position in future. Their approach is increasingly becoming futuristic and it puts the onus on upskilling platforms to provide for the same,” Narayan Mahadevan, founder, BridgeLabz, told ET.

BridgeLabz was set up to bridge the impending skill-gap amongst the existing talent pool of Indian engineers by making them job-ready through experiential learning and focused mentorship. It has plans for rapid expansion, to increase its reach to a larger number of engineers and grow its partner network to 500 companies across the country.

Source link

Continue Reading

Breaking News

Copyright © 2020 DailyExpertNews.com

Shares