I would be periodically
publishing some important and useful updates for 2014, which are beneficial for
all; especially HR professional can use this information to update their people.
Incase, if there are any updates,
which you want to include in here, you can share the same at sahilsurvase@gmail.com.
- Finance Ministry approves Rs
1,000 minimum monthly pension plan.
The Finance Ministry has approved
a proposal for providing a minimum monthly pension of Rs 1,000 to workers in
the organised sector, a move which would benefit 27 lakh pensioners immediately.
The government will provide
additional subsidy of Rs 1,217 crore to ensure the minimum monthly pension of
Rs 1,000 starting 2014-15. Pensioners are, therefore, expected to get benefit
with effect from April 1 this year.
The ministry has also approved a
proposal for raising the basic wage ceiling under the Employees Provident Fund
Scheme to Rs 15,000 from existing Rs 6,500 per month.
- Retirement fund body EPFO
, announced a hike in
interest rate on Provident Fund deposits to 8.75 per cent for 2013-14, a
decision that will benefit over 5 crore subscribers. The interest rate on PF
deposits in the previous financial year was from 8.5 per cent. 
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