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07 April, 2020, 09:15 AM IST

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Government looking to amend rules for availing unemployment benefit under ESIC

Proposed changes could include providing unemployment benefits of up to 50% of the last drawn salary for three months as against 25% of the salary available under the Atal Beema Vyakti Kalyan Yojana (ABVKY) currently. Time period could be extended further if needed, the official said.

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  • The government asked public and private establishment employers not to cut salaries or lay off employees during the coronavirus pandemic.

    The Indian workforce constitutes for over half of Capgemini's global employees base.

    The government has been publishing the data on employment created in the formal sector using information on the number of subscribers who have subscribed under three major schemes, namely the Employees’ Provident Fund (EPF) Scheme, the Employees’ State Insurance (ESI) Scheme and the National Pension Scheme (NPS).

    The announcement comes at a time when some of the back offices in India promoted by global financial majors are facing difficulties with headlines like job cuts dominating largely due to the woes of the parents. The bank's employees are spread across two centres in Pune and Chennai, and handle both operations as well as technological functions.

    The India@Work report, which surveyed 585 Gen-Y professionals from varied sectors and senior levels across India, showed that 90% employees feel a flexible work environment is important.

    Among HR circles, furloughing is increasingly being proposed as the alternative, ‘softer’ approach.

    Cumulatively, 2,642,549 employees were added in November under the three social security schemes of the govt as per the payroll data released by the ministry of statistics and programme implementation. While 1,162,863 net additions were in EPFO, 1433,000 people were added under the Employees’ State Insurance Scheme and 46,686 were added under the National Pension Scheme.

    E-commerce companies have been struggling to deliver orders after the 21-day lockdown, imposed to contain the spread of the deadly coronavirus, came into effect from March 25.

    HR heads see it as a win-win solution helping employees save on commute time and cos to cut establishment cost, raising productivity. HR heads also say arrangements such as hot-desking will become more common, bringing down establishment costs.

    Increment rates have been slowing down over the last decade or so, said Chaudhary, showing the impact of business performance on payouts as well as the growing consciousness of organisations around P&L margins and budgets.

    The economic package announced by the Central Government may accord a momentary glimmer of light at the end of the tunnel. But industry leaders know that once the storm is over, it will be a long, hard road to recovery – and that it will take far more than building greater competencies in domain or technical skills, to get the job done.

    Many multinationals give Esops to their Indian employees and then cross charge the cost to their Indian arm. The department is questioning the valuation of Esops for the purposes of domestic and international taxation, said the persons cited above.

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