Telangana State

EPF New Rules: Enhanced Benefits for Workers in 2024-25 The Employees’ Provident Fund (EPF) is a commendable initiative by the Indian government, designed to support workers financially during retirement. Managed by the Employees’ Provident Fund Organization (EPFO), this scheme assigns a unique Universal Account Number (UAN) to each member. Excitingly, starting from the new financial year 2024-25, EPFO has introduced several new rules that promise significant advantages for employees. Seamless EPF Account Transfers with Job Changes Changing jobs often involves the hassle of transferring your EPF account, which can lead to confusion and, in some cases, loss of savings. However, beginning April 1st, 2024, the EPFO has implemented a new rule to alleviate this issue. When you switch jobs, your EPF balance will automatically transfer to your new employer's account. This automatic transfer eliminates the need for cumbersome paperwork and waiting periods, streamlining the process for employees. Awaiting Official Confirmation on Interest Transfers Although this decision is highly anticipated, we await official confirmation from the EPFO. Key details, such as whether the accrued interest will also transfer along with the account balance, remain to be clarified. The EPFO's forthcoming official announcement will provide definitive answers and set the new procedures in motion. Understanding the EPF Contribution and Interest System Each month, both employees and employers contribute 12% of the employee's basic salary and dearness allowance to the EPF. The employer's contribution is divided, with a portion allocated to the pension scheme and the remainder deposited into the EPF account. The EPFO declares the annual EPF interest rate, which serves as a significant bonus for employees.

NEWS

May 20, 2024

EPF New Rules: How EPFO is Doubling Benefits for Employees

The Employees’ Provident Fund (EPF) is a commendable initiative by the Indian government, designed to support workers financially during retirement.…

Comprehensive Guide to the Udyogini Scheme: Empowering Women Entrepreneurs with 50% Subsidy The Udyogini Scheme is a government initiative designed to support women entrepreneurs in India by providing financial assistance and subsidies to help start and expand their businesses. This scheme aims to promote self-reliance among women and boost economic development by offering up to a 50% subsidy on loans. Here's a detailed look at the Udyogini Scheme and how it can benefit aspiring women entrepreneurs. What is the Udyogini Scheme? The Udyogini Scheme, initiated by the Women Development Corporation, aims to empower women by providing them with the necessary financial support to start or expand their businesses. The term 'Udyogini' translates to 'woman entrepreneur,' emphasizing the scheme's focus on women in business. It provides subsidized loans to women, helping them overcome financial barriers and achieve their entrepreneurial dreams. Key Features of the Udyogini Scheme Financial Assistance and Subsidies One of the most attractive features of the Udyogini Scheme is the substantial subsidy on loans. Women entrepreneurs can avail of a subsidy of up to 50%, making it significantly easier to manage the financial burden associated with starting or expanding a business. The exact percentage of the subsidy varies depending on the type of business and the bank's specific policies. Wide Range of Eligible Businesses The Udyogini Scheme supports a broad spectrum of businesses. Women can apply for loans to start various enterprises such as beauty parlors, grocery stores, tailoring shops, and even small-scale manufacturing units. The scheme covers around 88 different types of businesses, ensuring that women from diverse backgrounds can benefit from it. Accessible to All Women The scheme is open to all women, including those from economically weaker sections and marginalized communities. This inclusivity ensures that every woman with the ambition to start her own business has access to the necessary financial resources. Special consideration is given to widows, disabled women, and women belonging to scheduled castes and tribes, with additional subsidies available. Eligibility Criteria for the Udyogini Scheme To apply for the Udyogini Scheme, applicants must meet certain eligibility criteria. Here are the basic requirements: The applicant must be a woman aged between 18 and 55 years. The annual family income should not exceed Rs. 1.5 lakh. Applicants must have a viable business plan. Women with existing businesses must provide proof of the business's operation and financial statements. How to Apply for the Udyogini Scheme Preparing the Application Women interested in applying for the Udyogini Scheme should gather the necessary documentation, including identity proof, address proof, income certificates, and a detailed business plan. Having these documents ready will streamline the application process. Submitting the Application Applications can be submitted to various government and corporate banks participating in the scheme. It is advisable to visit the nearest bank branch to understand the specific requirements and procedures. Bank officials can provide detailed guidance on completing the application and any additional documents needed. Loan Sanction and Disbursement Once the application is submitted, the bank will evaluate the business plan and the applicant's credentials. If approved, the loan amount will be disbursed, and the subsidy will be applied as per the scheme's guidelines. The disbursement process is designed to be quick, ensuring that women can start or expand their businesses without significant delays. Benefits of the Udyogini Scheme

Telangana State

May 20, 2024

Udyogini Yojana Offers Up to 3 Lakh Loans for Telangana Women

The Central Government has taken a significant step to empower women through the Udyogini Yojana. Udyogini Yojana Offers Up to…

The CCB (Central Crime Branch) team raided a rave party being held at the G.R. Farmhouse near Electronic City in Bengaluru. The CCB police conducted the raid at 3 AM, during which drugs were found at the party. It is also reported that some Telugu actresses including Hema were present in this party. Bengaluru Rave Party Busted: CCB Finds Drug Use At Farm House, Telugu Actress Hema Among Attendees The party was organised by a man named Vasu from Hyderabad at the G.R. Farmhouse, which is owned by Gopal Reddy. The party, which was supposed to be a birthday celebration, continued past its permitted time of 2 AM. Due to this, the CCB's Anti-Narcotics Division officers raided the party and found drugs. During the raid, 17 MDMA pills and cocaine were found. It is reported that more than 100 people from Andhra Pradesh and Bengaluru, including more than 25 young women, were participating in the party. The organizer had flown in people from Andhra Pradesh specifically for the party. According to reports, an MLA pass belonging to Andhra Pradesh legislator Kakani Govardhan Reddy was found in a Benz car. Also, more than 15 luxury cars, including Mercedes-Benz, Jaguar, and Audi, were found near the farmhouse. Models and tech professionals, along with Telugu Actress Hema were also part of this party. However, in response to these media reports, Hema released a video stating that she was not present at the party. She mentioned that she was in Hyderabad. A case has been registered at the Electronic City police station in connection with this incident. The party was scheduled to run from 5 PM on Sunday until 6 AM the next morning. The CCB police raided the party late at night and exposed the illegal activities. Given the ongoing raids within the city, the party was organised in the outskirts. The party, which lasted for one day, reportedly cost between 3 to 5 million rupees. Currently, narcotics sniffer dogs are conducting inspections at the scene. The police are identifying the participants of the party. Hema MLa of telangana and Andhra pradesh found

Telangana State

May 20, 2024

Bengaluru Rave Party Raid CCB Finds Drug Use at Farmhouse, Telugu Actress, MLAs Attendees

The Central Crime Branch (CCB) team raided a rave party at the G.R. Farmhouse near Electronic City in Bengaluru. The…

Telangana State

May 20, 2024

TSRTC Employees Union Organizes ‘Chalo Bus Bhavan’ Protest on May 21, 2024

The Telangana State Road Transport Corporation (TSRTC) Employees’ Union, aligned with the All India Trade Union Congress (AITUC), has announced…

Telangana Cabinet Meeting: EC Grants Conditional Approval The Election Commission (EC) has granted conditional approval for the Telangana Cabinet meeting, setting specific guidelines for the agenda. Only urgent matters that need to be addressed before June 4th can be discussed, excluding issues such as agricultural loan waivers and the joint capital status. EC’s Conditional Approval for Telangana Cabinet Meeting The Election Commission has approved the Telangana state cabinet meeting with specific conditions. The EC emphasized that only urgent matters must be discussed before June 4th, explicitly stating that topics like the agricultural loan waiver and joint capital matters should not be addressed. Cabinet Meeting Postponement The cabinet meeting, initially scheduled to take place at the state secretariat on Saturday, had to be postponed. Chief Minister Revanth Reddy and his ministers arrived at the secretariat, prepared to participate in the meeting. However, they waited from noon until evening without receiving the necessary permission from the EC. As a result, the meeting was deferred at 7 PM.

Telangana State

May 19, 2024

EC’s Conditional Approval for Telangana Cabinet Meeting

Telangana Cabinet Meeting: EC Grants Conditional Approval The Election Commission (EC) has granted conditional approval for the Telangana Cabinet meeting,…

The Mahalakshmi Scheme, a groundbreaking financial assistance initiative, has been announced by Chief Minister Revanth Reddy. This scheme promises to provide Rs. 2500 monthly to the women of Telangana, aiming to enhance their financial stability and empowerment. The implementation date has been eagerly awaited and is set to follow the upcoming Lok Sabha election results. Guarantee Schemes Benefiting Telangana Since taking office, CM Revanth Reddy has launched several guarantee schemes aimed at improving the lives of Telangana's residents. These include the Indiramama Indlu, Gruha Jyoti, Mahalakshmi Scheme for free travel, affordable LPG cylinders at Rs. 500, and Rythu Bharosa for farmers. Each of these initiatives has contributed to the state's socio-economic development, and now the Mahalakshmi Scheme is set to further this progress. Details of the Mahalakshmi Scheme The Mahalakshmi Scheme is designed to provide monthly financial support to women, offering Rs. 2500 to help enhance their economic independence and overall well-being. This initiative is not only a step towards financial stability but also a significant move towards women's empowerment in Telangana.

Telangana State

May 19, 2024

Revanth Reddy Announces Payment Date for Mahalakshmi Scheme Get Ready for 2500 Rs Financial Assistance

Introduction to the Mahalakshmi Scheme The Mahalakshmi Scheme, a groundbreaking financial assistance initiative, Revanth Reddy Announces Payment Date for Mahalakshmi…