Government set to sell 25 percent stakes of LIC.

LIC

As Prime Minister Modi is looking for resources to bridge the widening gap in the budget, authorities are now seeking cabinet’s approval to sell 25 percent of the nation’s largest life insurer, Life Insurance Corporation (LIC). To prepare the sale of the insurance body, the government plans to amend the act of the parliament under which the Life Insurance Corporation was set up. The sale of the insurance body will be conducted in phases and depending on the market conditions, the timing of the insurer’s initial public offer will be…

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No PF deduction from salary for three months

Provident Fund

The government of India is trying its best to support citizens in these tough times of lockdown. Amongst a series of benevolent steps taken by the government, now employee’s contribution towards PF will not be deducted from their salary for the next three months, provided the employers to fulfill certain conditions. Similar steps have been taken up by the government to help and support those who are below the poverty line, and daily wagers. Like, early withdrawal of funds from APY has been permitted, advance pension for three months also…

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