Retirement fund body EPFO added 16.26 lakh subscribers on a net basis in November 2022, which is 16.5 per cent higher compared to a year ago, the labour ministry said on Friday. The provisional payroll data of Employees’ Provident Fund Organisation (EPFO) released on Friday by the ministry highlighted that the EPFO has added 16.26 lakh net members in the month of November 2022. The data indicate a 25.67 per cent increase in net additions compared to the previous month in October 2022, a labour ministry statement said.
Posts tagged Rediff
Adani is hooked on AI-powered ChatGPT (20-01-2023)
Asia’s richest man Gautam Adani, besides looking at opportunities to expand his vast empire, is hooked on ChatGPT – the programme that trawls vast amount of information to generate natural-sounding text on virtually anything – from crafting jokes to writing ad copy, debugging computer code, to even generating poems and essays. Adani, whose conglomerate has in recent years diversified from mines, ports and power plants into airports, data centres and defence, penned musing from his visit to Davos to attend the World Economic Forum meeting. “From a meetings perspective, this was perhaps my busiest WEF as I met over a dozen heads of states and several business leaders,” he wrote on LinkedIn, talking of new geopolitical couplings, climate change and tight-lipped evangelists and AI.
Social media influencers can be fined Rs 10 lakh (20-01-2023)
The government on Friday made it mandatory for social media influencers to disclose their “material” interest in endorsing products and services and violations can attract strict legal action, including ban on endorsements. The regulations are part of continuing efforts to curb misleading advertisements as well protect the interests of consumers amid the expanding social influencer market which is projected to be worth around Rs 2,800 crore by 2025. The new guidelines named ‘Endorsement Know Hows — for celebrities, influencers and virtual media influencers (Avatar or computer generated character) on social media platforms’ has been issued by the Department of Consumers Affairs.
Swiggy lays off 380 staff; overhiring ‘poor judgement’ (20-01-2023)
Online food delivery platform Swiggy on Friday laid off 380 employees as part of a “restructuring exercise” citing challenging macroeconomic conditions, with its CEO Sriharsha Majety saying that overhiring was a case of “poor judgement” where he should have done better. In an internal email, Majety, co-founder and CEO, also apologised to the affected employees and said the “extremely difficult decision” taken after “exploring all available options” and offered an employee assistance plan for the impacted people. He said the growth rate for food delivery has slowed down versus the company’s projections.
Swiggy lays off 380 staff; overhiring ‘poor judgement’ (20-01-2023)
Online food delivery platform Swiggy on Friday laid off 380 employees as part of a “restructuring exercise” citing challenging macroeconomic conditions, with its CEO Sriharsha Majety saying that overhiring was a case of “poor judgement” where he should have done better. In an internal email, Majety, co-founder and CEO, also apologised to the affected employees and said the “extremely difficult decision” taken after “exploring all available options” and offered an employee assistance plan for the impacted people. He said the growth rate for food delivery has slowed down versus the company’s projections.
Losses in index majors drag Sensex, Nifty down (20-01-2023)
From the Sensex pack, Hindustan Unilever, Asian Paints, Bajaj Finance, Nestle, Bajaj Finserv, Reliance Industries, Larsen and Toubro, Maruti, Infosys and Bharti Airtel were the major laggards.
Losses in index majors drag Sensex, Nifty down (20-01-2023)
From the Sensex pack, Hindustan Unilever, Asian Paints, Bajaj Finance, Nestle, Bajaj Finserv, Reliance Industries, Larsen and Toubro, Maruti, Infosys and Bharti Airtel were the major laggards.
High growth in direct tax mop-up may be difficult (20-01-2023)
Sustaining the current 19.5 per cent growth rate in income and corporate tax collections may be difficult in next fiscal year given headwinds from a slowing world and high base effect, a government source said. Net direct taxes, which are made up of personal income tax and the tax levied on corporate earnings, have seen a record growth in current fiscal year, topping up the numbers projected in the Budget. The expected lower nominal GDP growth in 2023-24 on the back of threats of global recession could impact income tax collection, the government source told reporters ahead of the presentation of Union Budget 2023-24 on February 1.
High growth in direct tax mop-up may be difficult (20-01-2023)
Sustaining the current 19.5 per cent growth rate in income and corporate tax collections may be difficult in next fiscal year given headwinds from a slowing world and high base effect, a government source said. Net direct taxes, which are made up of personal income tax and the tax levied on corporate earnings, have seen a record growth in current fiscal year, topping up the numbers projected in the Budget. The expected lower nominal GDP growth in 2023-24 on the back of threats of global recession could impact income tax collection, the government source told reporters ahead of the presentation of Union Budget 2023-24 on February 1.
Greaves Mobility joins e-scooter war with Primus (20-01-2023)
With its new premium Primus and Ampere NXG, it is targeting buyers seeking a faster and more stylish ride