Unions to press for 9.5% interest on PF deposits
New Delhi: Trade unions will press for 9.5 % interest on PF deposits to over five crore subscribers for the current fiscal at next week’s meeting of the trustees of retirement fund body EPFO. The Employees’ Provident Fund Organisation’s apex decision making body the Central Board of Trustees (CBT) will meet on Monday to discuss and approve the proposal regarding rate of return to be provided on PF deposits in 2013-14. “We will demand for 9.5 % rate of interest for subscribers for the current fiscal, higher than 8.5 % provided for 2012-13,” All India Trade Union Secretary and a CBT member D L Sachdev told PTI. “This rate of 8.5 % is less than the interest provided by banks these days, and would not be able to cover inflation.”
I-T dept searches 20 Yash Birla properties
Mumbai: The investigation wing of the Income Tax department conducted searches at about 20 premises of five Yash Birla group companies in Mumbai and New Delhi for alleged tax evasion, a source from the I-T department told PTI. The I-T sleuths are examining books of accounts of the companies and a clear picture will emerge only after two-three days, sources added. The 150-year-old group with a turnover of Rs 3,000 crore is present in sectors such as auto, engineering, steel pipes and electrical appliances.
DoT sees no 3G spectrum auction in 2014
NEW DELHI: With the Ministry of Defence unwilling to vacate spectrum in the 2,100 Mhz band, it is unlikely that the Department of Telecommunications would hold a second round of 3G auction anytime soon, a senior official said. Currently, the 2,100 Mhz band is used for providing high-speed data services. Not a single operator has pan-India 3G spectrum in the 2,100 Mhz band. Bharti Airtel, Vodafone India, Idea Cellular among others hold 5 Mhz of spectrum in each of the circles they operate in. -Cogencis
Yellow rust attacks wheat crop in Punjab
Chandigarh: After attacking wheat in Haryana, yellow rust — a fungal disease has now appeared in Punjab with detection of two such cases. In its latest survey, farm scientists of Punjab Agricultural University (PAU) found disease attacking crop in Dabkhera Upparala (Ajoli) in Anandpur Sahib block of Ropar district. Another detection of yellow rust was made at Bara Bajwara on Hoshiarpur-Una road, said a PAU release. “There are some initial reports (of yellow rust) from the (Yamunanagar) village. We just want to create awareness among the farmers so that it doesn’t spread…Whosoever has grown susceptible varieties, they should visit their fields frequently so that it (disease) could be managed timely,” Indu Sharma, project director at the Karnal-based Directorate of Wheat Research, told Cogencis.
Shopuli.com appoints new CEO
Mumbai: Shopuli.com, a multi retail online portal, incubated under the umbrella of KnowSys Ecom Pvt. Ltd, which is a subsidiary company of KnowSys Info India Limited has announced the appointment of Pawan Verma as its new Group Chief Executive Officer. Pawan Verma has taken CEO position in the organisation from 1st January 2014. Verma holds an MBA (Marketing) & Fellowship, Insurance Institute of India.