India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
The ministry of labour and employment, on Friday, notified relaxed criteria for subscribers of the Employees' Deposit Linked Insurance (EDLI) scheme under the Employees' Provident Fund Organisation. As per the notification, the beneficiary family will be eligible for a minimum assurance benefit of Rs 50,000 in the event of death of an employee even if his average provident fund balance is less than Rs 50,000. Further, for the purpose of determining the continuous period of twelve months require
nion Minister of State for Labour and Employment Shobha Karandlaje cited statistics in the Lok Sabha on Monday to show that youth unemployment rates in India were lower than global levels. The minister cited a report by the International Labour Organisation's (ILO) Institute for Human Development (IHD) which states that the worldwide youth unemployment rate was 15.6 per cent in 2021. Further, as per World Employment and Social Outlook Trends, 2024 by ILO, globally, in 2023, the youth unemployment rate was 13.3 per cent. On the other hand, the latest annual Periodic Labour Force Survey (PLFS ...Read More >
Berhampur (Odisha), Jun 6 (PTI) Environmental activist Medha Patkar on Saturday appealed to the people of Odisha for protection of Rushikulya river. The government planned to construct a dam in the river Pipalapnaka under Sorada block in the district. While participating in the Save Rushikulya river movement in Ganjam district, she said, "Rivers may be small or big, but they are our mother. We have to protect the rivers from attacks." She attended a meeting were organised by the Rushikulya Banchao Kriyaanusthan Committee (RBKC) and the Centre for Climate Justice, spearheading the agitation a ...Read More >
EPF retirement age is 58, not 60.EPF earns interest for 3 years post-retirement at age 58.EPS pension starts at 58, regardless of working status. For many salaried employees, EPF is often seen as a straightforward retirement savings tool, money goes in every month and grows over time. But when it comes to key rules around retirement age, interest accrual, withdrawals, and pension, there is a fair amount of confusion. From whether EPF retirement is 58 or 60, to how long your balance continues to ...Read More >
New Delhi [India], April 5 (ANI): The Anti-Narcotics Squad of the Delhi Police of the Outer District has busted a gang, which was involved in the theft of milk and curd in the Uttam Nagar area, officials said on Sunday. The police arrested two men who reportedly followed milk delivery trucks to steal crates left outside shops and homes. The investigation began after a video of the thefts went viral on social media, prompting the police to track down the suspects. Also Read | PF Withdrawals Made Easier: EPFO Introduces New Rules and Digital Access, Check Details. On April 3, officers receive ...Read More >
New Delhi: The Union Cabinet on Tuesday approved an employment-linked incentive (ELI) scheme with an outlay of nearly ₹1 lakh crore to generate over 3.5 crore jobs in the next two years. "You saw in the last Budget that the Finance Minister announced a clear package for an employment-linked scheme. Since then, a lot of good work has been done, and we came up with a comprehensive plan. This is an Employment-Linked Incentive (ELI) scheme, with a focus on the manufacturing sector," Union Minister Ashwini Vaishnaw said at a Cabinet briefing. Under the scheme, first-time employees will get an incen ...Read More >
New Delhi, Feb 23 (PTI) A total of Rs 30.52 crore stuck in over seven lakh inoperative accounts of the retirement fund body EPFO will soon be returned to the account holders or their legal heirs, a labour ministry source said on Monday. The Ministry of Labour & Employment, in a review meeting, decided to settle 7.11 lakh inoperative accounts of the Employees' Provident Fund Organisation (EPFO), each having a balance of up to Rs 1,000, the source said. The provident fund account, which has not received any contribution either from the employee or from the employer in more than 36 months, is r ...Read More >
New Delhi: The central government has clarified in Lok Sabha that there is no proposal at present to raise the Employees' Provident Fund (EPF) interest rate to 10 percent. Labour and Employment Minister Shobha Karandlaje said that no formal request has been received from labour unions seeking such an increase. The statement came in response to an unstarred question on March 30, 2026, raised by Member of Parliament Vijayakumar alias Vijay Vasanth. The clarification puts to rest speculation about a sharp hike in EPF returns. No Proposal For 10 percent EPF Rate Karandlaje clearly stated that t ...Read More >
EPFO has now set a final deadline of January 31, 2025, for employers. The Employees' Provident Fund Organisation (EPFO) has granted a final extension for employers to process and upload pending applications for the Validation of Options/Joint Options related to pensions on higher wages. According to the Ministry of Ministry of Labour & Employment, this extension follows multiple requests from employers and their associations for more time to complete the required submissions. The online facili ...Read More >
New Delhi, July 17: In a major move that could bring relief to over 7 crore Employees' Provident Fund Organisation (EPFO) members, the Centre is reportedly considering a proposal to allow full or partial withdrawal of EPF savings after 10 years of service. According to a Moneycontrol report, the retirement fund body has floated this idea to address the needs of those who wish to exit the formal workforce earlier than the official retirement age of 58. Currently, EPF members can withdraw their full balance only upon retirement or after remaining unemployed for over two months. However, many in ...Read More >
Union Labour Minister Mansukh Mandaviya told a meeting of the Central Board of Trustees (CBT) of the Employees Provident Fund Organisation (EPFO) in New Delhi on Monday (October 13, 2025) that the Cabinet was actively considering increasing the minimum PF pension. Though the issue was not in agenda, trade union members in the CBT said during the discussions that the minimum PF pension should be revised from the present amount of ₹1,000 a month. "The Minister did not rule it out and said the Ca ...Read More >
New Delhi [India], July 1 (ANI): Following the Union Cabinet's approval of the Employment Linked Incentive (ELI) Scheme to support employment generation, former secretary of the Ministry of Labour and Employment, Sumita Dawra, said that the scheme is expected to generate over 3.5 crore jobs. The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved the Employment Linked Incentive (ELI) Scheme to support employment generation, enhance employability and social security across all sectors, with special focus on the manufacturing sector. Speaking to ANI about the scheme, fo ...Read More >
SHILLONG, July 2: The Employees' Provident Fund Organisation Regional Office (EPFO RO), Shillong, conducted an engagement session with local employers on Wednesday, to disseminate information about the newly approved Employment Linked Incentive (ELI) Scheme in a move to promote formal employment and enhance social security coverage in the region. As part of the broader communication and outreach efforts, the interaction was spearheaded by EPFO RO Shillong officials, who briefed representatives from a few prominent establishments. The interaction served as an informative platform where the pro ...Read More >
VMPLMumbai (Maharashtra) [India], December 1: For most salaried Indians, Provident Fund (PF) is that one pot of money that quietly grows in the background, meant to be there when life stops going according to plan or there is a crucial life event such as marriage, home loan or purchase. Yet the moment people actually need it or try online PF withdrawal, many discover a hard truth: PF withdrawal often feels less like a process and more like a toss of a coin.The rules are written. The steps are lis ...Read More >
New Delhi [India], October 16 (ANI): Union Minister of Youth Affairs and Sports, and Labour and Employment, Mansukh Mandaviya, on Wednesday highlighted the substantial relaxation in the Employees' Provident Fund Organisation (EPFO) rules, making EPF withdrawal simpler for employees. According to the new rules, employees who lose their jobs can now withdraw 75% of their EPF amount immediately. The remaining 25% can be withdrawn after one year, ensuring that the employee's 10-year service tenure remains intact. Mandaviya said, "...EPF withdrawal has been made simpler now...If someone loses the ...Read More >
NEW DELHI: Employees' Provident Fund Organisation's (EPFO) move to allow withdrawals of up to 75% of the corpus will make life easier for its over 7 crore subscribers, while the norms around 25% balance are meant to ensure a healthy kitty, without imposing any restrictions on pension or PF payment at the time of retirement, a top official said. "The idea is to empower members and repose trust. The changes are meant to pave the way for automated settlement of claims," Central Provident Fund commis ...Read More >
New Delhi, Dec 13 (PTI) Subscribers of the retirement fund body EPFO may soon be able to withdraw money from their accounts through ATMs, a top official said. Union Labour Secretary Sumita Dawra has reportedly stated in a media report that the labour ministry is upgrading information technology infrastructure to provide enhanced services to the Indian workforce. She further said that claimants, beneficiaries or insured individuals will be able to access their claims through an ATM. According to the media report, the withdrawal will be capped at 50 per cent of the Employees' Provident Fund ( ...Read More >
Bhopal, July 9 The Enforcement Directorate's (ED) Bhopal Zonal Office, has provisionally attached immovable assets valued at Rs ... Bhopal, July 9 The Enforcement Directorate's (ED) Bhopal Zonal Office, has provisionally attached immovable assets valued at Rs 50.80 lakh in a money laundering case involving Shyamlal Akhand, former Enforcement Officer of the Employees' Provident Fund Organisation (EPFO), ED officials said on Wednesday. The move came under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, following serious allegations of disproportionate asset acquisition. ...Read More >
VMPL Mumbai (Maharashtra) [India], December 1: For most salaried Indians, Provident Fund (PF) is that one pot of money that quietly grows in the background, meant to be there when life stops going according to plan or there is a crucial life event such as marriage, home loan or purchase. Yet the moment people actually need it or try online PF withdrawal, many discover a hard truth: PF withdrawal often feels less like a process and more like a toss of a coin. The rules are written. The steps are listed. The contributions are real. But whether the money actually reaches you in time through an ...Read More >
New Delhi, Aug 20 (PTI) Retirement fund body EPFO recorded a 13.46 per cent year-on-year growth in net member addition of 21.89 lakh in June, according to the latest payroll data released on Wednesday. The Employees' Provident Fund Organisation's (EPFO) provisional payroll data for June 2025 showed a net addition of 21.89 lakh members, marking the highest recorded addition since payroll data tracking began in April 2018, a labour ministry statement said. On a month-on-month basis, net payroll additions increased 9.14 per cent, it added. The year-on-year analysis reveals a growth of 13.46 pe ...Read More >
New Delhi [India], March 2 (ANI): The central government has retained an 8.25 per cent annual rate of interest to be credited on Employees' Provident Fund (EPF) accumulations in members' accounts for the financial year 2025-26, according to the Ministry of Labour and Employment of India. The interest rate would be officially notified by the Government of India, following which the Employees' Provident Fund Organisation (EPFO) would credit the rate of interest into the subscribers' accounts. This comes as Union Minister for Labour and Employment Mansukh Mandaviya on Monday chaired the 239th m ...Read More >
New Delhi [India], March 31: Most employees assume their Employees' Provident Fund (EPF) is easily accessible. However, many only discover issues years later, typically at the time of withdrawal, during a job transition, or even during background verification. Claims can get delayed, rejected, or remain unresolved, often without clear reasons. Also Read | Sadak Suraksha Abhiyan 2026: Aamir Khan Talks About Road Safety, Shares Strict Rule He Has Taught His Children (Watch Video). In FY24-25, over 6.2 crore PF withdrawal, transfer and other claims were filed, of which nearly 1.6 crore were rej ...Read More >
New Delhi [India], July 1 (ANI): Following the Union Cabinet's approval of the Employment Linked Incentive (ELI) Scheme to support employment generation, former secretary of the Ministry of Labour and Employment, Sumita Dawra, said that the scheme is expected to generate over 3.5 crore jobs. The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved the Employment Linked Incentive (ELI) Scheme to support employment generation, enhance employability and social security across all sectors, with special focus on the manufacturing sector. Speaking to ANI about the scheme, fo ...Read More >
New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi, has approved the Employment Linked Incentive (ELI) Scheme to support employment generation, enhance employability and social security across all sectors, with special focus on the manufacturing sector. Under the Scheme, while the first-time employees will get one month's wage (up to Rs 15,000), the employers will be given incentives for a period to two years for generating additional employment, with extended benefits for another two years for the manufacturing sector. The ELI Scheme was announced in the Union Budget 2024- ...Read More >
Nagpur: Congress Legislature Party leader Vijay Wadettiwar questioned the govt's priorities on Tuesday, highlighting the increasing number of farmer suicides in Maharashtra. He accused the govt of neglecting agrarian crisis while approving Rs20,000 crore for Shaktipeeth highway project."Money is available for massive infrastructure projects, but where is the budget for farm loan waivers as promised by the BJP before last year's assembly polls to the farmers?" Wadettiwar asked while moving an adjournment motion in the Legislative Assembly. He cited official data showing that between January and ...Read More >
ITANAGAR, 2 Jul: Chief Minister Pema Khandu on Wednesday claimed that the frontier state holds the distinction of being India's largest carbon sink, an ecological powerhouse playing a pivotal role in combating climate change and aiding the country's march toward net-zero emissions. In a social media post as part of his administration's 'Pema 3.0 - Year of Ref-orms and Growth' campaign, Khandu highlighted that Arunachal Pradesh contributes a remarkable 14.38 percent to India's total carbon sequestration. With an impressive 79 percent forest cover, the state currently boasts a carbon stock of ...Read More >
New Delhi [India], July 1 (ANI): Following the Union Cabinet's approval of the Employment Linked Incentive (ELI) Scheme to support employment generation, former secretary of the Ministry of Labour and Employment, Sumita Dawra, said that the scheme is expected to generate over 3.5 crore jobs. The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved the Employment Linked Incentive (ELI) Scheme to support employment generation, enhance employability and social security across all sectors, with special focus on the manufacturing sector. Also Read | India Developing Its Own ...Read More >
New Delhi, Dec 18 (PTI) Retirement fund body EPFO has extended time till January 31, 2025 for employers to upload wage details etc regarding 3.1 lakh pending applications for pension on higher wages. An online facility was made available by EPFO for submitting applications for validation of options/joint options for pension on higher wages, a [...] New Delhi, Dec 18 (PTI) Retirement fund body EPFO has extended time till January 31, 2025 for employers to upload wage details etc regarding 3.1 lakh pending applications for pension on higher wages. An online facility was made available by EPFO f ...Read More >
VMPLMumbai (Maharashtra) [India], December 1: For most salaried Indians, Provident Fund (PF) is that one pot of money that quietly grows in the background, meant to be there when life stops going according to plan or there is a crucial life event such as marriage, home loan or purchase. Yet the moment people actually need it or try online PF withdrawal, many discover a hard truth: PF withdrawal often feels less like a process and more like a toss of a coin.The rules are written. The steps are listed. The contributions are real.But whether the money actually reaches you in time through an EPF o ...Read More >
CHANDIGARH: A portion of the frontal section of Congress MLA Sukhpal Singh Khaira's house in Bholath, Kapurthala, was demolished on Monday by the office of the Block Development and Panchayat Officer (BDPO). Khaira, a strong critic of Punjab Chief Minister Bhagwant Mann, condemned the move, calling it the dangerous introduction of "bulldozer (Pila-Panja) politics" in Punjab by Mann under directions from AAP supremo Arvind Kejriwal, aimed at silencing criticism and democratic dissent. As the demolition began, Khaira went live on social media, criticising the state government. Anticipating the ...Read More >
New Delhi: The Employees' Provident Fund Organisation (EPFO) is planning to introduce a new "self-approval" mechanism for subscribers to withdraw their provident fund (PF) money through an automated process, according to a report by The Financial Express. The proposed system is aimed at simplifying and speeding up the PF withdrawal process, which currently involves multiple checks, approvals, and submission of forms. At present, subscribers must wait for their requests to be verified and approved, which can delay access to their funds. With the new mechanism, subscribers will be able to sel ...Read More >