Provident Financial News

New Delhi: New formal sector workers added under the Employees’ Provident Fund Organisation (EPFO) fell to about 1.63 million in May, down from 1.72 million recorded during the previous months, according to the latest payroll data released by the government.  About 1.68 million new workers were added to the formal sector during May 2022.  "The data indicates that around 8.83 lakh new members enrolled during May, 2023 are highest during the last six months. Among the newly joined members, the age-group of 18-25 years constitutes 56.42% of total new members added during the month," said a statement from the Ministry of Labour and Employment. "Around 11.41 lakh members exited but rejoined EPFO who may have switched their jobs and re-joined the establishments covered under EPFO and opted to transfer their accumulations instead of applying for final settlement thus extending their social security protection," it added.

Google says it is in the early stages of developing tools that use artificial intelligence to help journalists write stories and headlines

I am 33 years old and work in the service sector, drawing a monthly salary of ₹1 lakh. My investment portfolio includes ongoing systematic investment plans (SIPs) in mutual funds : two large-cap funds ( ₹5,500), a consumer fund ( ₹2,500), a flexi-cap fund ( ₹2,000), a tax saver fund ( ₹1,500), a mid-cap index fund ( ₹1,000), and a small-cap index fund ( ₹1,000). All these SIPs have a step-up of ₹500 every year. The total corpus accumulated from these investments so far is ₹4.32 lakh. Additionally, I hold a public provident fund (PPF) account, with a corpus of ₹3.56 lakh, and I aim to invest ₹1,500 in it every month. I contribute around ₹50,000 annually to NPS (national pension scheme) tier-1 account. For my 5-month-old daughter’s future, I plan to invest ₹12,000 every month in a Sukanya Samriddhi account. My wife and I also have a joint home loan that we are actively prepaying. We have repaid half of the principal amount over four years and plan to complete the repayment within the next five years. The monthly EMI for the home loan is ₹25,000. Looking ahead, my long-term goals include expenses for my daughter’s education, both graduation and post-graduation, with a timeline of 15-20 years. Are there any changes required in my investment strategy? —Name withheld on request Most of the equity mutual funds in your SIP are appropriate for your goals.

What exactly is a secured credit card? Secured credit cards operate exactly like regular credit cards, in terms of earning rewards, discounts and cashback on spends. The customer gets 15 to 20 days to make the payment for the spends of the previous 30 days. The difference lies wherein secured credit cards necessarily require a deposit or guarantee or a similar collateral.

OpenAI could have made it less useful, “leading to a possible degradation in cognitive skills". He added that in a bid to cut costs, OpenAI could have reduced the parameters.

BENGALURU : There is one question Sahil Barua, the managing director and chief executive officer of Delhivery Ltd, is always asked. Well, ever since the third-party logistics company started, in 2011. What about competition, particularly from the logistics arms of large e-commerce platforms? Take the latest earnings conference call, held on 21 May.

New Delhi: India is considering expanding its solar STAR-C initiative, run by the International Solar Alliance, to a number of Pacific Island countries, according to persons aware of the matter. The programme aims to boost solar power ecosystems in the poorest countries. In the Pacific, it currently runs in Tonga.

The US Federal Reserve announced on Thursday that its long-awaited FedNow Service has gone live.

Delhi ahead of their return to their homes from relief camps, an official statement issued on Wednesday said. The decision to provide financial aid to families was taken after Chief Minister Arvind Kejriwal met victims to assess the situation. He expressed his concern for the flood victims, said a government statement.

By John Kruzel

A few months after the outbreak of war in Ukraine, Sky News collaborated with the Stockholm International Peace Research Institute (SIPRI) to publish a report revealing the details of NATO States' deliveries to Ukraine. The report highlighted that Britain and the United States were the top suppliers of new weapons.

U.S. Treasury Secretary Janet Yellen has told top Vietnamese officials that Washington considers building strong economic and security ties with Vietnam a priority

Prime Minister Justin Trudeau has met with top officials after the longshore union renewed a 72-hour strike notice

Mercenaries from Russia’s military company Wagner have launched joint drills with the Belarusian military almost a month after their short-lived rebellion

The U.K. Treasury says the amount of public funding for King Charles III and the royal family’s official duties has been recalculated for next year because of an unexpected profit boost from offshore wind farms on the monarch’s Crown Estate

NEW DELHI : The Central government and pharma companies are discussing the possibility of developing a vaccine against sickle cell anaemia. The matter was discussed in a recent meeting of the National Technical Advisory Group on Immunization. As apart of the government’s National Sickle Cell Anaemia Elimination Mission launched by Prime Minister Narendra Modi earlier this month, the government is also upgrading the healthcare facilities to providing tertiary care to sickle cell patients.

Tata Consultancy Services (TCS) on Thursday said it has bagged a deal from British Broadcasting Cooperation (BBC) to change their finance, procurement and HR applications management.The company will leverage AI-driven human-machine collaboration suite, TCS Cognix in the multi-year partnership, the company said in a BSE filing.

By Dr Aparaajita Pandey

In a historic move, India’s Kalpataru Projects International (KPIL) has signed a $159.99 million contract for providing EPC services for Transmission Lines and Substations in Guyana’s Integrated NGL Plant and 300 MW CCGT Power Plant.

Rajya Sabha was informed on Thursday. In a written reply, Law Minister Arjun Ram Meghwal said over 5.02 crore cases were pending in various courts — the Supreme Court, the 25 high courts and subordinate courts. «As per data retrieved from the Integrated Case Management System (ICMIS) by the Supreme Court of India, as on July 1, there are 69,766 cases pending in the Supreme Court.

Dive into this article and discover the power of these innovative bucket washing machines as they offer excellent performance, gentle yet effective cleaning, and impressive water-saving capabilities. With their user-friendly controls and versatile features, these washing machines make laundry day a breeze, even in limited spaces. We have explored the features, benefits, and key considerations of these washing machines in detail, empowering you to make an informed decision that suits your laundry needs.