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Social security in India includes a variety of statutory insurances and social grant schemes bundled into a formerly complex and fragmented system run by the Indian government at the federal and the state level. The Directive Principles of State Policy, enshrined in Part IV of the Indian Constitution reflects that India is a welfare state.
The National Pension System (NPS) is a defined contribution pension system administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA), created by an Act of the Parliament of India. The NPS started with the decision of the Government of India to stop defined benefit pensions, Old Pension Scheme (OPS) for all its ...
The National Pension System (NPS) is a voluntary defined contribution pension system administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA), created by an Act of the Parliament of India. The NPS started with the decision of the Government of India to stop defined benefit pensions for all its employees who ...
The Government of India has social welfare and social security schemes for India's citizens funded either by the central government, state government or concurrently. Schemes which are fully funded by the central government are referred to as "central sector schemes" (CS) while schemes mainly funded by the centre and implemented by the states are "centrally sponsored schemes" (CSS).
The fringe benefits tax ( FBT) was the tax applied to most, although not all, fringe benefits in India. A new tax was imposed on employers by India's Finance Act 2005 from the financial year commencing April 1, 2005. [1] The fringe benefit tax was temporarily suspended in the 2009 Union budget of India by the then Finance Minister Pranab Mukherjee.
Statistics[edit] Government employees in the Central Government in 56 ministries [1] and departments under latter as of 1 July 2023 has 48.67 lakhs working employees and 67.95 retired employees on rolls. [2] [1] [3] Indian Railways with 1.3 million employees has highest number of employees in Central Government. [4]
Willie B. Thomas/Getty Images. Researchers say 4-day workweeks can improve employee health and well-being as well as reduce sick days. They add the shorter workweek can even boost productivity and ...
The Employees' Provident Fund Organisation (EPFO) is one of the two main social security organization under the Government of India's Ministry of Labour and Employment and is responsible for regulation and management of provident funds in India, the other being Employees' State Insurance. The EPFO administers the retirement plan for employees ...