Daman & Diu - Minimum wage notification
2016
Gazette Notification G.S.R 440E dated 25th April 2016 on granting of 4% increase in pension for each year on deferring drawl of pension after 58 years but not later than 60 years of age
Special allowance of all industries in Maharashtra been changed
Minimum Wage revision (i.e. in BASIC) pertaining to “Liquor industry”
Employees Provident Fund and Miscellaneous Provisions ( EPF & MP ) Act, 1952
” As per EPFO circular dated 1st December 2017, the EPFO has introduced a facility to the members to merge their earlier PF accounts to the current PF account so that the EPFO may help them in the integration of all these PF accounts in the current UAN activated PF account”.
Features of the said facility are as follows:
(1) A member has to provide his current activated UAN along with the current member ID & Mobile number registered at UAN Member portal.
(2) On validating these credentials, EPFO will facilitate the member to register his/her EPF accounts. Members can enter details of as many as ten previous PF account numbers.
(3)The earlier PF member IDs provided by members will be forwarded to EPFO field office to which earlier member ID pertains. EPFO is currently sending sms to its members whose requests are pending and will also ensure that multiple accounts are consolidated as early as possible.
Partial modification of the notification of the Government of India in the Ministry of Labour and Employment number S.O. 323 (E), dated the 2nd Feb.2015
After interim injunction granted by Kerala & Karnataka High Courts, Madhya Pradesh Labour department has issued notification on stay on bonus amendment bill.
Payment of Bonus (Amendment) Act, 2015
Revised rates of Minimum Wages for employment of Construction or Maintenance of Roads or in Building Operations in West Bengal
Revised CPI numbers for Agricultural and Industrial Workers in Kerala for the month of November.
Removal of Grace period of 5 days. Payments of contribution by employers by 15th of following month
Employment Outlook Survey - This half yearly edition from TeamLease bring you various new insights across sectors, cities and functional areas.
Summary of the report
- Consumer sentiment and spend powers hiring sentiment, notwithstanding a tinge of negative sentiment with the Make in India initiative in the Manufacturing and Engineering and the Infrastructure sector. The Net Employment Outlook improves by 4 percentage points to 93 and the Net Business Outlook goes up to 95, three percentage points more than the previous half year.
- Small businesses (69, up 5 points) in cities – Metros and Tier-1 (97, up 4 points) – drive Employment Outlook and this is likely to up Entry level hiring significantly (70, 5 points up). Blue Collar (74, 9points up), IT (85, 6 points up), Sales (94, 4points up) and Marketing (78, 3 points up) jobs are likely on offer.
- A majority of sectors and cities improve on their previous half year’s outlook, although each of them modestly (either 3 or 2 percentage points up). Telecommunications, FMCG, Pune and Chennai improve their employment Outlook by 3 points each. Financial Services (5 points down) and Kolkata (6 points down) are the prominent losers. Infrastructure and Manufacturing and Engineering lose marginally.
- Ecommerce and Tech Start-ups (2 points up, 23.6% job growth), FMCG (3 points up, 11.4% job growth) and Telecommunications (3 points up, 10.13% job growth) grow marginally in a routine show by sectors. Healthcare and Pharmaceuticals (2 points up, 14% job growth), Retail (2 points up, 14.4% job growth) and Information technology (2 points up, 14.2% job growth) follow a couple of rungs down.
- The top three sectors (by city) in terms of employment outlook growth are -
- Mumbai: Healthcare &Pharma (4%) / Telecom (3%) / Information Technology (3%)
- Delhi: Healthcare &Pharma (8%) / Retail (4%) / Infrastructure (4%)
- Bangalore: Retail (6%) / Financial Services (5%) / Healthcare &Pharma (3%)
- Kolkata: Financial Services (4%) / Healthcare &Pharma (4%) / Infrastructure (3%)
- Chennai: Manufacturing & Engineering (6%) / Telecom (3%) / Retail (3%)
- Pune: Financial Services (6%) / Healthcare &Pharma (5%) / Manufacturing & Engineering (4%)
- Hyderabad: Infrastructure (3%) / Telecom (4%)
- Ahmedabad: Infrastructure (6%) / Telecom (4%) / Retail (3%)
- Businesses drive employment sentiment, relatively more than government initiatives, for this forthcoming half year. The Make in India initiative has been a critical driver of employment sentiment over the past couple of half years. This time round, however, there is a tinge of downward sentiment associated with the initiative, due to the negative job growth in 8 key sectors of the economy. This has had a small negative impact on hiring sentiment in the Manufacturing and Engineering and the Infrastructure sectors.