Centre to pay PF share of the employer, employee till 2022 for certain people working in the formal sector – Union finance minister Nirmala Sitharaman highlights
Union finance minister Nirmala Sitharaman highlighted the Centre’s effort to support migrant workers who returned to their native place after losing jobs in the informal sector.
Union Finance Minister Nirmala Sitharaman addresses a press conference in Lucknow, Saturday. (PTI)
Union finance minister Nirmala Sitharaman on Saturday announced that the Central government will pay provident fund (PF) contribution for both the employer and the employee till 2022 for those who were called back to work for small-scale jobs in the formal sector after losing their job. She also highlighted the Centre’s effort to support migrant workers who returned to their native place after losing jobs in the informal sector.
“If in a district, more than 25,000 migrant workers working in the informal sector return to their native place, [they] will get benefits from 16 Central schemes for employment. In 2020, we increased the MGNREGA budget from ₹60,000 cr to around ₹1 lakh crore due to Covid,” the minister added.
Sitharaman was in Lucknow for the launch of several schemes and initiatives. She addressed the audience at the launch of ‘Mission Shakti 3.0’, under which ₹30.12 crores were transferred to the account of 1.55 lakh girls. Sitharaman said women shall spearhead the development of Uttar Pradesh under chief minister Yogi Adityanath’s leadership.
She also highlighted the financial inclusion policies, including Stand-Up India Scheme, Pradhan Mantri MUDRA Yojana, and Jan-Dhan Yojana, for women and women entrepreneurs over the last seven years.
Centre to pay PF share of the employer, employee till 2022 for certain people working in the formal sector – Karma Management’s perspective on the future
Karma Management’s perspective on the future of outsourcing (permanent and temp staffing in India) in the next 2 to 5 years, seems to take a bright turn since it has been in the business of outsourcing (temp staffing) for a very long time, right from the inception of Karma in 2004 when Pratik Vaidya, took over the reins of the Company as its Managing Director.
Karma has always seen outsourcing as a top business trend and a vital organ for making HR, a strategic partner in the grooming of employees towards charting out a sound career for every individual on its roll, up to 6000 today and growing each day.
Karma Management has always been the hub for the small and medium-class of offices and industries where they would find it difficult to engage in HR activities since their concentration would always be on hardcore business delivery and results.
As history repeats itself most of the time, there will always be cost pressures and flexible working dynamics in relation to employees’ life cycles and the accompanying human dynamics. Undoubtedly, clients will always see for more and more standardized solutions from its contractual engagements with us but this is where Karma has been very strong on its differentiators, some of which are listed below:
1) Karma has always demonstrated its true worth in tackling various issues related to employees’ life cycle in an efficient manner thereby removing and taking away all kinds of obstacles that were faced by the clients from time to time
2) Karma has been client-centric and industry-centric and thus this has enabled the company to bring its unique service offerings into the mainstream
3) The company systematically goes about its process by starting with due diligence or assessment and ending with monitoring of results. It always seeks a different way of approaching the problem and giving a resulted oriented solution to its clients
4) Perhaps, it will be hard to believe but it is a well-known fact in Karma that all of us feel like a great team due to the nature of specific characteristics that are required in every individual to give the end results in the outsourcing process to its innumerable clients who have been in a relationship with us for a very long time
5) Karma has always believed in its overall business strategy, in which it has laid emphasis on directly addressing the needs of the customers in relation to end to end management of an employee, in any role, any position, any location, any experience, and expertise, for the employees to establish and quickly slide into the mainstream of any organization where they are deployed and to thereafter, consistently service outsourced employees requirements and career growth, and look after his/her tangible and intangible needs.
Centre to pay PF share of the employer, employee till 2022 for certain people working in the formal sector – Customer experience
Customer experience has always been seen as a prism which Karma considers as the sum total of clients’ interactions with us and fulfilling their expectations.
Karma’s mindset works with two different dimensions, inbound and traditional and the other one is outbound and modern. It looks at inbound, meaning the traditional way of doing things with physical interaction and approach towards a solution while at the same time, it looks at outbound with out of sight interactions with clients and employees through the means of technology, by using different platforms and tools including the chatbots.
Thus, in the overall scenario, Karma Management Global Tech is fully geared with the required resources, both technology, and people, to manage the outsourcing business for its various clients.
EPFO fraud: Rs 21 crore siphoned from Mumbai PF office through illegal withdrawals
EPFO fraud: A 37-year-old clerk at EPFO’s Kandivali office, Chandan Kumar Sinha, was the mastermind behind the scam.
KEY HIGHLIGHTS
- As many as 817 bank accounts, mostly of migrant workers, were used to fraudulently claim PF deposits of Rs 21.5 crore on their behalf.
- An internal investigation of EPFO found that 90% of the money claimed by the nexus of employees has already been taken out of their accounts
- Sinha is currently absconding and is among the five employees of the office who have been placed under suspension
New Delhi: A group of employees at a Mumbai office of the Employees Provident Fund Organization (EPFO) has allegedly siphoned off over Rs 21 crore from a common PF pool through illegal withdrawals, the Indian Express (IE) reported today.
Centre to pay PF share of the employer, employee till 2022 for certain people working in the formal sector – investigation of EPFO
According to the IE report, a 37-year-old clerk at EPFO’s Kandivali office, Chandan Kumar Sinha, was the mastermind behind the scam. He allegedly used as many as 817 bank accounts, mostly of migrant workers, to fraudulently claim PF deposits of Rs 21.5 crore on their behalf.
An internal investigation of EPFO found that 90% of the money claimed by the nexus of employees has already been taken out of their accounts, the IE mentioned in the report citing sources, who added that the case will be transferred to the CBI as soon as the internal audit is complete.
Sinha is currently absconding and is among the five employees of the office who have been placed under suspension for their alleged involvement in the multi-crore scam.
The money that was withdrawn by the nexus belonged to the pooled fund of EPFO, which holds deposits made by registered organizations every month. The funds received in these pools are usually invested in government securities.
“No individual PF account has been misused (in the fraud). The money belonged to the pooled fund and it is a loss to EPFO, not any individual. It is the equivalent of a bank robbery,” the publication quoted a senior EPFO official as saying.
EPFO officials believe that the nexus managed to evade scrutiny between March 2021 and June 2021 as this was the time when the organization had relaxed its norms and assigned multiple roles to employees involved in verification and approval to manage the high volume of withdrawals amid job losses and pay cuts due to the COVID-19 pandemic.
Also, they exploited key loopholes in the system using passwords and other access provided to them by senior officials who were working from home during the lockdown.
Centre to pay PF share of the employer, employee till 2022 for certain people working in the formal sector– EPFO fraud
The internal probe done by EPFO found that a few section officers at the branch actively helped Sinha siphon funds. “It is a bit embarrassing that some of our officials gave their passwords to him and did not bother to change them later. This is negligence,” another senior official told the daily.
After the fraud was discovered, EPFO has written to banks for freezing the 817 bank accounts that received the fraudulent withdrawals. A little over Rs 2 crore has been tracked and recovered so far, the IE report mentioned.
Auto-Renewal Of Registration under The Andhra Pradesh Shops And Establishments Act, 1988
The Government of Andhra Pradesh, Department of Labour and Employment vide notification no.G.O.Ms.No.11 in order to enhance Ease Of Doing Business and minimize regulatory compliance burden has introduced “Auto-renewal of registration certificate” under shops and establishments subject to submission of self-certification and payment of an online fee. Hence, an Employer registered under the Act in the State of Andhra Pradesh may make note of the above and avail of the facility of auto-renewal of the registration certificate and utilize the facility accordingly.
Effective Date: 14th Aug 2021
The Labour Welfare Fund (Gujarat) (Amendment) Rules, 2021
Government of Gujarat vide notification No:-KHR/2021/106/GWB/122021/7942 1/M(2) has removed the provision towards the maintenance of register in Form A under The Labour Welfare Fund (Gujarat) Rules,1962.
Effective Date: 11th Aug 2021
KARMA MANAGEMENTS – BUSINESS VERTICAL OF RECRUITMENT – PAST, PRESENT, AND FUTURE TRENDS
Karma Management Global Consulting Solutions Pvt. Ltd. known earlier since its inception in 2004, as Karma Management Consultants Pvt. Ltd. has been standing tall till today on its 4 verticals viz. Payroll, Outsourcing (Temp Staffing) Labour Law Compliances, and Recruitment (Talent Acquisition).
Centre to pay PF share of the employer, employee till 2022 for certain people working in the formal sector- Karma Management Global Consulting Solutions Pvt. Ltd
Being in the core field of Labour Laws Payroll and Outsourcing (Temp and Permanent Staffing), it was but natural to make a humble foray into Recruitment (Talent Acquisition) since it is a very well-known belief that “People make Organizations” and thus, our then long relationship clients suggested that Karma needs to venture into this recruitment field, both from the perspective of not only acquiring talent but managing and retaining them for the sake of the venerated clients, sometime in the years 2005 – 2006.
With this perspective in mind, Karma started taking initiatives, and in less than 2 years, sometime in the years 2007 – 2008, Karma already had about 6000 outsourced employees on its rolls, across all segments, viz. Telecommunication, Financial Services, Hotels, Restaurants, Cinemas, Entertainment, Education, Garment, BPO, Facility and Hospitality, Aviation, and so on.
This itself came as a big relief for all kinds of Organizations looking up to Karma to avail such staffing service since it was not just maintaining the employees on its payroll but scouting for the right talent across all functions and locations.
The world is not the same as it was before, this is so because of technology, and with the invasion of technology, the recruitment process also has undergone a drastic change. This has compelled the Recruiters to make their process more vibrant by bringing in highly sophisticated software technology as an enabler for recruitment.
Adding to the technology part of invading the sphere and momentum of traditional recruitment practices in India, the pandemic also played a contributory role in changing the dimensions of the recruitment process with the work from home rule set in and thus the landscape of recruitment totally took a 360-degree turn to overcome the challenges of technology and pandemic.
Centre to pay PF share of the employer, employee till 2022 for certain people working in the formal sector – Karma has set the latest trends
Karma Management Global Consulting Solutions Pvt. Ltd. located at Santacruz East, Mumbai, took up the upheaval task of leveraging its strengths on the current depressing situation by adapting to newer technological practices, and thus today, Karma Management’s recruitment portfolio is heavily engaged in scouting talents for all types of industries and roles and functions as a consequence of imbibing the following practices:
Karma has set the latest trends in recruitment by creating contract jobs, work-from-home jobs, or flexible days off to attract and tap into a larger talent pool. Already having 6000 employees on its payroll by way of outsourced temp staffing, and permanent staffing, Karma has been able to increase its talent pool and acquire the best talent with specialized skills without the burden of having an enormous hiring budget.
Karma has been able to successfully build up its talent pool by utilizing the inherent potential of each and every individual by evolving a determined workforce for making them accessible to different organizations according to their necessities and requirements. Outsourced staffing and recruitment have offered Karma the twin advantage of constantly having to retain a sizeable amount of people as its bench strength in order to cater to immediate requirements of filling in the vacancies as soon as they arise. Thus talent acquisition happens in Karma as a consequence of the pool of ability and efficiency which are the two service qualities manifested in the deliveries and results.
With India snowballing towards technological advancement, Karma Management also has catapulted into the higher state of the art technology with the creation of multiple platforms and by bringing in machine learning to make instant information available through the chatbots with immediate query/answer sessions available throughout the time.
Centre to pay PF share of the employer, employee till 2022 for certain people working in the formal sector- Karma has made its legacy of over 20 years
Karma has made its legacy of over 20 years publicized across social media in order to make it known to potential candidates the kind of background that Karma Management comes with as a “Good Place to Work” has won the award several times in the past. Thus making known the company’s culture through conversations and networking, the conducive environment in which Karma Management is firmly embedded, gives a good springboard for potential candidates to take the leap in their careers.
Karma Management is fully into the revolutionized structure that the recruitment practices have slid into, with job interviews happening through the online video mode and cutting sharply the accessibility, availability, and other constraints that a candidate usually faces. Karma Management’s tapping of video calls has given opportunities to talented people who are outside the cities in remote locations but want to make a career without many strings attached.
Karma Management’s Recruitment vertical operates with a huge technological solution of Data Analytics which helps assess old candidates, keep track of their profiles to reach out to them for other relevant jobs, systems to automatically screen profiles using AI bots and all of these make Karma Management, a highly recommended Recruiting Organization for all kinds of hiring, be it small, medium or large.
KARMA MANAGEMENTS – BUSINESS VERTICAL OF OUTSOURCING – PAST, PRESENT AND FUTURE
Karma Management Global Consulting Solutions Pvt. Ltd. known earlier since its inception in 2002, as Karma Management Consultants Pvt. Ltd. has been standing tall till today on its 4 verticals viz. Payroll, Outsourcing (Temp Staffing), Labour Law Compliances and Recruitment (Talent Acquisition).
Centre to pay PF share of the employer, employee till 2022 for certain people working in the formal sector – Karma’s internal value proposition
Being in the core field of Labour Laws and Payroll, it was but natural to make a humble foray into outsourcing since it is a very well-known belief that “People make Organizations” and thus, our then long relationship with clients suggested that Karma needs to venture into this field, both from the perspective of not only acquiring talent but managing and retaining them for the sake of the venerated clients, sometime in the years 2002 – 2004.
With this perspective in mind, Karma started taking initiatives, and in less than 2 years sometime in the years 2005 – 2008, Karma already had about 6000 employees on its rolls, across all segments, viz. Telecommunication, Financial Services, Hotels, Restaurants, Cinemas, Entertainment, Education, Garment, BPO, Facility and Hospitality, Aviation, and so on.
This itself came as a big relief for all kinds of Organizations looking up to Karma to avail such staffing services since it was not just maintaining the employees on its payroll but the crux of the matter was giving the employees meaningful and purposeful experiences.
Even today, Kama Management operates its business vertical of outsourcing (temp staffing) with a mix of all types of employees across genders, roles, job profiles, locations, shifts, offline and online.
What has been the key factor for Karma Management to survive and sustain in this business vertical of outsourcing (temp staffing) all these years when the market and people have been in a volatile situation?
In this context, Karma Management very strongly believes and this belief continues even today which has a legacy of over 20 solid years, is thrusting upon the concept of “Employee Value Proposition” (EVP). This is Karma’s internal value proposition to all its employees, that it offers to each one of them and all that it asks the employees is to give their time, capabilities, and commitment. This is the key that tends to meet the employee’s monetary and non-monetary needs of remuneration, collaborative culture, global trending, and opportunities for learning and growth, all blended together to create a unique and differentiated offering.
Centre to pay PF share of the employer, employee till 2022 for certain people working in the formal sector – a reflection of true employee-centricity
Karma Management, in order to further augment its staffing solutions, whether temporary staffing, permanent staffing, or contractual staffing, onshore or offshore, its priority has always been to invest in technologies to equip our employees to provide efficient, timely, and seamless experiences for our customers. Karma has always accelerated the trend for individual employees using their mobile or laptop devices for meeting their various needs and Karma has been currently aiming to deploy tools, as a hygiene factor covering the entire employee lifecycle and is available on Karma Management’s multiple platforms.
What is the reflection of true employee-centricity life in Karma?
Karm Management’s objective in managing the business vertical of outsourcing staffing solutions is not just solving the customer’s pains but also offering multiple gains both to employees and clients. This also comes out clearly in Karma’s mission statement “to be able to create efficient, impeccable solutions that can be experienced in real-time, embracing and empowering through technology and with automation as an enabler “.
Thus the goal has always been to exceed expectations at certain moments, creating joy and delight.