"Team HRM"

31/10/2016

26/10/2016

The Pradhan Mantri Rojgar Protsahan Yojana(PMRPY) Plan Scheme has been designed to incentivise employers for generation of new employment, where Government of India will be paying the 8.33% EPS contribution of the employer for the new employment. This scheme has a dual benefit, where, on the one hand, the employer is incentivised for increasing the employment base of workers in the establishment, and on the other hand, a large number of workers will find jobs in such establishments. A direct benefit is that these workers will have access to social security benefits of the organized sector.

18/03/2016

PF Withdrawal can be claimed only after attaining age of 58:
Providing big relief to the salaried class, the government has rolled back the proposed employee provident fund withdrawal tax. But not many of you may be aware that now you can only partially withdraw the accumulated provident fund corpus before retirement (age of 58).
According to a new rule notified by Ministry of Labour and Employment on February 10, if a person after being unemployed for two months or more, wishes to withdraw money from the EPF account, he or she can only withdraw his or her own total contribution and interest earned on it. The employer's contribution and the interest earned on it can only be withdrawn after one reaches 58 years of age.
The condition is waived off in case of women employee if they leave employment for marriage, pregnancy or childbirth.
As according to current rules, a provident fund account becomes dormant or inoperative if no contribution has been made for a period of 36 months. No interest is paid on such dormant account.

19/10/2015

Withdraw PF within 3 hours through EPFO's online settlement facility by March end..

All that paperwork for withdrawing your PF money may soon be history.
Retirement fund body EPFO is hopeful of launching an online PF withdrawal facility by March end.
The Employees' Provident Fund Organisation with over five crore subscribers has been working on such a facility for online settlement of PF claims within three hours of receiving an application.
Once this is operational, subscribers can apply online for PF withdrawal, which will be transferred directly to their bank accounts.
The seeding of Aadhaar with UAN is also required for providing online PF withdrawal claim facility.

17/04/2015

The government will give guaranteed pension of up to Rs 5,000 a month to subscribers under the proposed Atal Pension Yojana and will also allow members of the NPS Swavalamban to migrate to the new scheme.“There will be five guaranteed pensions and subscribers can opt to join any of these schemes. At the age of 60, when the plan matures, a person opting for the scheme will get a guaranteed return. APY

14/04/2015

The Finance Minister has announced a new initiative called Atal Pension Yojana (APY) in his Budget Speech for 2015-16. The APY will be focussed on all citizens in the unorganised sector, who join the National Pension System (NPS) administered by the Pension Fund Regulatory and Development Authority (PFRDA) and who are not members of any statutory social security scheme. Under the APY, the subscribers would receive the fixed pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions, which itself would vary on the age of joining the APY. The minimum age of joining APY is 18 years and maximum age is 40 years. Therefore, minimum period of contribution by the subscriber under APY would be 20 years or more. The benefit of fixed pension would be guaranteed by the Government. The Central Government would also co-contribute 50% of the subscriber’s contribution or Rs. 1000 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years, i.e., from 2015-16 to 2019-20, who join the NPS before 31st December, 2015 and who are not income tax payers. The APY would be launched from 1st June, 2015. The existing subscribers of Swavalamban Scheme would be automatically migrated to APY, unless they opt out.

16/10/2014

PM Narendra Modi to launch slew of schemes at labour meet on October 16

@ Modi inaugurates new labour inspection scheme

@ Unified Web Portal 'Shram Suvidha Portal' for checking labour law-compliances inaugurated

@ Universal Account Number (UAN) facility for EPFO subscribers inaugurated

@ SMS sent to the 1,800 inspectors

@ Rashtriya Swasthya Bima Yojana (RSBY) for workers in the unorganised sector launched

@ The Apprentice Protsahan Yojana flagged off

@ Under Apprentice Protsahan Yojana, 50 percent support for training in MSMEs to be provided by the labour ministry.

@ Bulk SMSes sent across India as part of the programme

@ Booklet of National Brand Ambassadors for Vocational Training and Souvenir for All India Skill Competitions released

The UAN will allow collation of accounts and viewing of updated PF accounts. The UAN would be portable throughout the working careers of members and can be used anywhere in India.
Thus, workers in the organised sector would not need to apply for a transfer of their PF account claim on changing jobs.

@ Narendra Modi begins his speech

@ Says, labour needs to be given its due respect

@ Shram Jayate will give strength to development of India

@ Unified Labour Identification Number (LIN) to simplify business regulations and secure transparency and accountability in labour inspections

@ Important that Shram be be regarded as prestigious

@ Will return people's money through UAN

@ Ease of business required for successful implementation of "Make in India"

@ To allow online registration of industries

@ Skill development required to provide workforce to the entire globe

@ New generation should be ready to become job creater

@ Can provide ample workforce under skill development

@ Youth should be ready to become skilled workforce

21/03/2014

The winner is …

We’ll give you three guesses as to the biggest time waster at work, and the first two don’t count.

That’s right: The Internet wins the day.

Workers said they waste time by:
1. surfing the Web (48%)
2. socializing with co-workers (33%)
3. conducting personal business (30%)
4. making personal phone calls (19%), and
5. taking long lunch breaks (15%).

A full 40% of people say non-related Internet surfing causes them lost productivity, and more than 30% of staffers feel it’s A-OK to surf non-work-related sites every day.

20/06/2013

Hello... Looking for a Job in Orissa!! don't worry.
Just send a Resume to "[email protected]"

20/06/2013

Team HRM: A Great Team of Human Resources Professionals

20/06/2013

Somewhere between a fifth to a third of the million students graduating out of India's engineering colleges run the risk of being unemployed. Others will take jobs well below their technical qualifications in a market where there are few jobs for India's overflowing technical talent pool. Beset by a flood of institutes (offering a varying degree of education) and a shrinking market for their skills, India's engineers are struggling to subsist in an extremely challenging market.

According to multiple estimates, India trains around 1.5 million engineers, which is more than the US and China combined. However, two key industries hiring these engineers -- information technology and manufacturing -- are actually hiring fewer people than before.

For example, India's IT industry, a sponge for 50-75% of these engineers will hire 50,000 fewer people this year, according to Nasscom. Manufacturing, too, is facing a similar stasis, say HR consultants and skills evaluation firms.

According to data from AICTE, the regulator for technical education in India, there were 1,511 engineering colleges across India, graduating over 550,000 students back in 2006-07. Fuelled by fast growth, especially in the $110 billion outsourcing market, a raft of new colleges sprung up -- since then, the number of colleges and graduates have doubled.
.........The Economic Times

20/06/2013

Indian management and decision-making is such that your Indian associate may seek the advice of trusted others (friends, family members, etc.) before making a decision you might be waiting for. Therefore, do not expect meetings to always result in a decision, especially if you are only in the beginning stages of a business relationship. You need to take time to build a relationship, an essential precursor to business, however frustrating it may be for the time-conscious American. Meetings should be viewed as vehicles for relationship-building and information-sharing.
During your discussions, you may notice your Indian colleague shaking his head from side to side after you speak. Particularly true of South Indians, this unique "head-wobble" is merely your Indian associate’s non-verbal way of letting you know that he/she is politely listening to what you have to say. This side-to-side movement does not, as Westerners might suspect, signal disapproval.