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Labour Ministry News

Govt Okays 8.15% Interest Rate For EPFO For FY 2022-23

The government has okayed interest rate of 8.15% to the Employees' Provident Fund (EPF) scheme for 2022-23. According to an Employees' Provident Fund Organisation (EPFO) office order issued today (July 24, 2023), the Union Ministry for Labour and Employment has conveyed ...

Govt Notifies 8.65% Interest On EPF For FY 2018-19, Rs. 54000 Cr To Be Credited

After a prolonged confusion in respect of interest rate on EPF for lakhs of employed people, the Union government finally offered relief by notifying rates on EPF for the fiscal year 2018-19. The interest rate has been decided at 8.65% per ...

Cabinet Hikes Minimum Wage By Mere Rs 2, Ignoring Committee Recommendations

The Union Cabinet has approved the Wage Code Bill that increased the national minimum wage by merely Rs 2 to Rs 178 per day. This nominal hike was despite an internal labour ministry committee's recommendation of increasing it to Rs 375, ...

Labour Ministry Proposes Social Security System For 50 Crore Workers

A month after the government of India announced National Health Protection Scheme in the Budget 2018, the Labour Ministry has proposed a social security system to provide retirement, health, old-age, disability, unemployment and maternity benefits to around 50 crore workers in ...