Nation
Sasikala surrenders, supporters clash with police
AIADMK General Secretary V.K. Sasikala, held guilty for corruption, on Wednesday surrendered before a trial court at a prison here.
 
Sasikala gave herself up at the Central Jail on the city's southern outskirts with her relatives Elavarasi and V.N. Sudhakaran after reaching from Chennai by road, officials said.
 
As the long-time confidante of the late Tamil Nadu Chief Minister J. Jayalalithaa reached the prison complex, clashes erupted between AIADMK supporters and police personnel.
 
One official said Sasikala underwent a medical check-up.
 
The surrender came a day after the Supreme Court upheld her conviction in a case of holding assets disproportionate to known sources of income.
 
Also held guilty were her two relatives and the late Jayalalithaa.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  

 

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80% of Indian millennials work harder than bosses: Survey
Over 80 per cent of India's millennials -- those born between 1980-2000 -- say they work harder than their bosses, as their work hours stretch longer than their managers', a survey revealed on Wednesday.
 
According to the survey conducted by Talentedge, a Delhi-based Ed-Tech firm, more than than 12 hours are spent at work by 16 per cent of the millennials aged 21-24, whereas only two per cent of their superiors are spending the same time at work. 
 
"We are constantly finding surprising insights in our interaction with young professionals of India and these findings reflect an inability in corporate India to marry productivity with efficiency," Aditya Malik, CEO and MD at Talentedge, was quoted as saying in a statement. 
 
While overwhelming evidence suggests that a workweek of more than 40 hours leads to a dip in the productivity, there are many professionals heralding long workweeks as a measure of their effectiveness.
 
In addition, up to 87 per cent millennials think that they should get an increment even if their bosses do not get one.
 
"We hope these findings will bring some realistic and honest discourse in corporate India over work hours and productivity," Malik added.
 
The survey, that included over 1,000 young professionals across eight metros, was conducted via social media and one-on-one calling, giving an insight into how the young working professionals feel about work hours versus productivity and their contribution towards the organisation's growth.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  

 

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NPS private subscriptions grew 60% till January: PFRDA
The Pension Fund Regulatory and Development Authority (PFRDA) on Wednesday said the number of private sector subscribers of New Pension Scheme (NPS) saw a 60 per cent increase during the April 2016 to January 2017 period due to exemptions provided in the earlier Budget.
 
"Private sector subscribers have gone up by 60 per cent till January in 2016-17. We are currently at 8.82 lakh NPS subscribers in the private sector. We expect the figure to reach 10 lakh by March 31," PFRDA Chairman Hemant Contractor said here. 
 
Contractor was speaking on the sidelines of the full-day programme to train the trainers of the IL&FS Skill Development Corporation on NPS.
 
This agency has been recently hired by the regulator to train its intermediaries on NPS and Atal Pension Yojana. 
 
In Budget 2016, the government had given additional tax exemption up to Rs 50,000 for contribution to NPS apart from the Rs 1.5 lakh ceiling provided under Section 80C. 
 
The total corpus of NPS currently stands at Rs 1.66 crore with more than 1.47 crore subscribers, which includes central and state government employees for whom the subscription is mandatory. 
 
In the Budget 2017-18, government has announced another sop and allowed tax-free partial withdrawal of 25 per cent of employee's contribution.
 
"... it has been proposed to provide exemption on partial withdrawals not exceeding 25 per cent of the employee's contribution in accordance with the terms and conditions specified under the Pension Fund Regulatory and Development Authority Act, 2013," the Finance Ministry said earlier.
 
The benefit would be effective on partial withdrawals made after April 1.
 
"This will be another attractive feature. In emergency if we have to withdraw then why should it be taxed. Partial withdrawl has been given as relaxation. I am expecting major boost in terms of the NPS subscribers in 2017-18 as well," he said.
 
"But I would like to keep the growth target at 40 per cent as to grow even 40 per cent on a larger base is not easy for 2017-18," he added.
 
Business correspondents through the banks, cooperative banks, regional rural banks, post offices, private and public sector banks will all be contributing towards an increase in the number of NPS subscribers, Contractor said.
 
The NPS is a voluntary contribution retirement scheme. It enables systematic savings during the subscriber's working life and aims to find a sustainable solution to provide enough retirement income to every Indian citizen.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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COMMENTS

Amit Phatak

3 days ago

Something seriously wrong in the numbers here "The total corpus of NPS currently stands at Rs 1.66 crore with more than 1.47 crore subscribers, " Please check.

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