logo
EPFO's scheme more beneficial for construction workers: Regional provident fund commissioner

EPFO's scheme more beneficial for construction workers: Regional provident fund commissioner

Time of India02-05-2025

Retirement fund
body
EPFO
's
provident fund
scheme under the
EPF Act
provides better protection to
construction workers
compared to the benefits available under the framework of building and other construction workers (BOCW), a regional provident fund commissioner has ruled, clarifying ambiguities between the two legislations. The clarification order by regional provident fund commissioner (RPFC), Kochi Uttam Prakash, which would have significant implications for labour welfare across India, came after the Kerala High Court issued a directive to resolve a long-standing conflict between two major national legislations governing the social security of construction workforce.
#Pahalgam Terrorist Attack
India's Rafale-M deal may turn up the heat on Pakistan
China's support for Pakistan may be all talk, no action
India brings grounded choppers back in action amid LoC tensions
While disposing of a writ petition filed by Veegaland Homes Pvt. Ltd., a real estate developer, the court directed the RPFC, Kochi, to determine which law provides more beneficial coverage for construction workers -- the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (EPF Act) or the Building and Other Construction Workers (BOCW) Act, 1996.
After evaluating the two welfare frameworks, the RPFC concluded that the EPF scheme provides superior protection for construction workers compared to the BOCW framework.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Glicemia alta? Coloque isso na água antes de dormir e veja o que acontece no outro dia.
Saúde Melhor Idade
Leia mais
Undo
The order outlined key advantages including lifetime pension coverage under the Employees' Pension Scheme (EPS), substantial death and disability benefits via the Employees' Deposit-Linked Insurance Scheme (EDLI), portability of benefits across states and employers structured, long-term savings with higher returns and a technology driven access to services and grievance redressal.
In contrast, BOCW welfare boards, despite collecting substantial welfare cess, have challenges of inefficiency, low coverage, and underutilisation of funds and poor access to registration by design, the RPFC order said.
Live Events
Workers frequently struggle to access even basic entitlements under this scheme, it noted.
The petitioner in the Kerala High Court had argued that employers were being subjected to an unfair dual compliance burden under both central and state welfare regimes.
While the EPF Act is administered nationally by the EPFO, the BOCW Act is enforced by state-level welfare boards, often with considerable variation in benefit delivery across states.
As India continues to rely on its informal workforce to build its infrastructure and cities, the Kerala High Court-led resolution could serve as a cornerstone for a more inclusive, effective, and future-ready labour protection framework, opined an expert.
By prioritising structured, portable, and enforceable benefits, the RPFC order reaffirms the constitutional promise of social justice and sets a powerful precedent for integrating the informal workforce into the mainstream of social security, the expert added.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

For Sai Srinivas of Mobile Premier League, the game is always on
For Sai Srinivas of Mobile Premier League, the game is always on

Mint

timean hour ago

  • Mint

For Sai Srinivas of Mobile Premier League, the game is always on

It's easy for people to put a value to a loss they've had," says Garimella Sai Srinivas Kiran, the co-founder of gaming company M-League, which runs the Mobile Premier League (MPL). '(But) It's hard to put a value to these intangible gains, right? You only notice them in the long term. In the short term, you only see the pain." Startup founders tend to be philosophical, a by-product of betting big on a non-existent product and making it work, despite the obstacles and the body blows. The seven-year-old skill-gaming platform MPL. which has free and paid components and a portfolio of over 60 games, probably does not qualify as a startup anymore, but tends to fall into the bracket by virtue of being a tech company. M-League, which now has five companies including the Berlin-based GameDuell, has a portfolio that includes skill gaming, free-to-play games, game publishing and AAA game studio (high-budget, high-profile games). With over 220 million users across MPL and GameDuell in 32 countries, a unicorn valuation as of the last fund raise in 2021, presence in Asia, Europe, North America and Africa, and 600-odd employees, the company straddles the challenging business of skill gaming. Its revenue in FY24 was $130 million. Sai was in Mumbai in early May for the World Audio Visual and Entertainment Summit (Waves), a government-sponsored event. In the business centre of the Sofitel Hotel in Bandra Kurla Complex, close to the venue for Waves where MPL had a booth, the 37-year-old, dressed casually in a collared T-shirt, slacks and a cap, orders an Americano. He has an easy-going manner, and a dimpled boyish smile that he uses liberally. Sai is temporarily stationed in Singapore these days, where M-League is headquartered, while his co-founder Shubh Malhotra and Galactus Funware Technology Pvt Ltd, the operating entity for MPL, are based in Bengaluru. Since losing his father last year, Sai says he has started valuing his time more and separating his professional and personal identities. 'One of my core philosophies in life is anonymity. I want to focus on my business," he explains. 'I really enjoy travelling; I can travel literally 60 days with one suitcase, keep moving from one place to the other." Born in Hyderabad—his father was a deputy manager in a bank, mother a teacher in a government school—Sai's academic journey fell into two innings. He was 'not very good" in the beginning, but an inexplicable switch turned after class VI. By the time he reached the board exam stage, he wanted to study aerospace engineering. Also read: What Siddharth Roy Kapur wants: Fresh stories told in unique voices He got into IIT Kanpur which had, among other things, a dedicated leased line for fast (for those times) internet speed. However, he soon became disenchanted with the education system there and his enthusiasm for making aircraft withered away. 'For people coming from a normal background like us, the first important level of freedom we need to attain is mastery of our time," says Sai, who graduated in 2010 as one of the few in his batch without a campus placement. One of his highlights at IIT turned out to be organising the cultural festival, Antaragni, which included the music festival Synchronicity. What this first, quasi-entrepreneurial voluntary role did was to get him access to his first job, which was a brief stint as product manager with a digital company in Delhi. He was soon recruited by Zynga in Bengaluru as a game designer, though he had no such experience. 'I played a lot of games while growing up," he admits. 'My dad and I were always particular about getting new gadgets, like the Nokia 3310 and the (gaming console) Super Nintendo." Zynga, with its popular game Farmville, was going 'absolute gangbusters" at the time, which put Sai in the 'right place, right time". It also helped that he didn't like Delhi too much and moving to Bengaluru was not a challenge. The third benefit, unbeknownst to him at the time, was that the friend's place he temporarily stayed at had another roommate, Malhotra. A year-and-a-half later, Sai and Malhotra got ready with their first venture, CREO Tech. Their first product, Tewee, was a wireless HDMI dongle to stream videos over a Wi-Fi network, like the Amazon Firestick. The idea seemed to fit in at a time when streaming services were making their forays into the country. 'We were foolish enough to say let's make hardware," he says now. 'We used to download these documents in Chinese and spend days translating them and figuring out what they hacked our way to getting the product out." They sold over 50,000 units, but making hardware was challenging. Other similar products were getting into the market; the duo realised they needed to pivot. In the company of some 'smart engineers" they hired through their college network, their next venture was an Android-based operating system and smartphone, which also turned out to be an error in hindsight. 'I'll tell you the problem with making a phone and with hardware in general," he says. 'For example, let's assume I ship software and I left a bug in it. I'm just going to patch the software and I'll fix it. Life is okay, all good. With hardware, even if you make one mistake, the amount of time it's going to take to correct that mistake in the next iteration and then get it right—it's just massive." After several struggles, managing to make only a few thousand of the product Creo Mark 1, they sold the company to messenger service Hike in 2016-17. 'If a river is flowing downstream and you're standing on the bank and you see this guy on a boat going really fast, you tend to assume that it's the person rowing. But it's actually the underlying river. That's the market: If you're in the right place, right time, right market, even if you are really stupid, you'll be okay," says Sai. After going through a period of angst, when they felt like they would never work together again, Malhotra and Sai made a deal not to have friends as employees, and that 'the outcome is always more important than output". Having decided that their next turn would be in the field of online gaming, because of his experience in the field, the newly formed Galactus Funware went live with the MPL in September 2018. With about $5.5 million ( ₹36.5 crore at the time) at the get-go, a fairly large seed round, from Sequoia Capital, their ascent was rapid—a term sheet in April, an early team by May and the first prototype by July. A friends and family round by end of August leading up to the launch. By December, MPL had a million daily active users. But the challenges were continuous and constant. In May 2019, MPL was kicked out of the Play Store due to Google's developer policy (it relaxed its policy on real-money gaming last year), along with other gaming platforms like Dream11. 'We would be the only company in India's ecosystem that started, raised a lot of money, got to a million daily active users and shut its doors within the year," Sai says grinning. Then by the second half of 2019 they almost ran out of money, looking to raise a bridge round which came in the form of $90m led by Susquehanna Asia Venture Capital. '2019 for me was the most foundationally painful year. If Creo was tough from a different standpoint, this was toughness induced by my own stupidity," he says. Cricketer Virat Kohli came on board as their brand ambassador. The following year, MPL signed on with the Board of Control for Cricket in India to be the kit sponsor for the Indian team. With the pandemic, the founders had to navigate working remotely, and between 2020-21, the company went from 120 employees to 1,200, perhaps hiring too many people too fast. 'In my 10 years of doing start-ups, I believe, that is the most unpardonable mistake," he admits. As MPL went global, especially into the US in July 2021, and acquired European company GameDuell in early 2022, 'one of the smartest things to have done", it also laid off 10% of its force and shut down its Indonesia office. But the business, on the back of the pandemic-induced lockdown that catalysed the online gaming industry, grew by 50%. Just when 2023 seemed on the up, hitting 200 million users and a foray into Africa, the government in August announced a 28% GST on funds online gaming companies collect from customers. Mint had in November quoted a report by gaming-focused venture capital firm Lumikai, which had India's gaming market growing 23% year-on-year by revenue to $3.8 billion in 2023-24 despite 28% GST on online gaming. Propelled by the pandemic-induced lockdowns, online gaming is booming, despite some amount of social stigma, and some legal battles, most of which have been dismissed by the courts. 'We looked at this entire GST thing and said this is essentially the start line being redrawn," remembers Sai. MPL laid off 350 employees—half of its force—to survive the tax burden in 2023. Recovery was aided by GameDuell, which helped grow revenue more than three times. MPL started to take off in the US and Brazil, with 40% of its current revenues coming from abroad. 'It's a personal ambition that we want to build a product that stands globally," Sai explains. 'The professional ambition is that things are evolving in a developing country, so there is no certainty for a business to thrive." While MPL as a business competes with platforms like WinZO and Zupee among others, it is more comparable to Nazara Technologies, which is publicly listed. Sai, though, prefers to see his competition coming from Chinese gaming conglomerate Tencent. As he gets ready to head back to Waves, he talks about reading, spending a lot of time just being idle, really enjoying the mundane. 'One of the reasons why I enjoy living in Singapore," he says thoughtfully, 'or spending time with my partner in Dubai, is that in India, these amazing pleasures of doing your own domestic chores have been taken away thanks to the massive amount of help, which is great. But I really enjoy doing my breakfast, putting my clothes in these daily rituals." Also read: Vaibhav Kala of Aquaterra Adventures: The outdoors man

Tata-Dassault fuselage deal will boost manufacturing in general
Tata-Dassault fuselage deal will boost manufacturing in general

Hans India

time3 hours ago

  • Hans India

Tata-Dassault fuselage deal will boost manufacturing in general

The signing of four Production Transfer Agreements by Dassault Aviation and Tata Advanced Systems Limited (TASL) to manufacture the Rafale fighter fuselage in India is a big fillip to not just defence production in the country but also manufacturing in general. The French plane-maker rightly said that it marks 'a significant step forward in strengthening the country's aerospace manufacturing capabilities and supporting global supply chains.' The fuselage of an aircraft is its central body portion, excluding the engines, tail, and wings. It houses the cockpit, avionics, fuel, and payload—essentially serving as the backbone of the aircraft. In the case of Rafale, a multirole fighter jet renowned for its agility, advanced avionics, and combat effectiveness, manufacturing the fuselage involves high-precision engineering, advanced composites, and tight tolerances. Bringing such a sophisticated process to Indian soil reflects the maturity of the country's aerospace manufacturing environment and the trust global original equipment manufacturers (OEMs) are increasingly placing in Indian firms. In recent years, numerous Indian companies have emerged as key players in the defence manufacturing sector, contributing to the country's vision of self-reliance under the Atmanirbhar Bharat programme. Major public sector undertakings like Hindustan Aeronautics Limited, Bharat Electronics Limited, and Bharat Dynamics Limited have long been at the forefront of producing aircraft, radars, missiles, and other critical defence systems. Alongside them, private sector giants such as TASL, Larsen & Toubro (L&T), Mahindra Defence Systems, and Bharat Forge have significantly expanded their footprint in defence production. These companies manufacture a wide range of equipment, including artillery systems, armoured vehicles, UAVs (unmanned aerial vehicles), and missile components. Their growing capabilities are further boosted by partnerships with global defence firms, enabling technology transfer and joint ventures. This robust participation from both public and private sectors is crucial for reducing import dependence and building a strong, indigenous defence industrial base. The Dassault-TASL partnership is a testament to the vision of the Make in India initiative, which has been pushing for increased localisation in defence procurement. By transferring production capabilities to India, Dassault is enabling Indian companies to climb up the value chain—from low-end assembly to high-end design and production. The collaboration with TASL, a company already experienced in aerospace production, enhances India's ability to build a complex, high-performance defence product and helps cultivate a local ecosystem of skilled workers, advanced suppliers, and engineering talent. Furthermore, this move significantly reduces India's reliance on imports for critical defence hardware, contributing to strategic autonomy. Over the decades, India has been one of the world's largest arms importers. While importing advanced weapon systems has been necessary to meet immediate defence requirements, long-term sustainability lies in indigenisation. The Rafale fuselage manufacturing agreement is, therefore, more than a business deal—it is a step toward building a sustainable and technologically advanced defence industrial base within India. The economic implications of this development are equally profound. High-technology manufacturing generates employment across the value chain—from technicians and engineers to logistics and quality assurance personnel. The joint venture will not only create direct employment but also foster ancillary industries, leading to the development of an aerospace manufacturing cluster with potential spillover benefits to the civilian aviation sector. The infrastructure and capabilities established through this programme can later be leveraged for commercial aerospace production, such as passenger aircraft components, thereby further integrating India into the global aerospace supply chain.

2 convicted to 5 years in 68cr bank fraud case
2 convicted to 5 years in 68cr bank fraud case

Time of India

time7 hours ago

  • Time of India

2 convicted to 5 years in 68cr bank fraud case

Mumbai: A magistrate's court on Thursday convicted and sentenced two men, Raza Naqvi (38) and Varun Rana (41), to five years of rigorous imprisonment for their involvement in a sophisticated financial fraud amounting to Rs 68.22 crore against Shinhan Bank in 2020. Naqvi and Rana were found guilty of flouting norms by sending Rs 68 crore in two months to companies in the US and Singapore. The fraudulent scheme involved crediting significant amounts into accounts in Mumbai (M/s ID Technologies Private Limited) and Delhi (M/s Liqus Tradex Private Limited). Instructions were then given to immediately remit equivalent sums in foreign currency, primarily to Singapore and the US. The fraud, which took place between Sept and Dec 2020, came to light after Shinhan Bank's New Delhi branch received a notice from the Cyber Cell, Odisha Police, regarding suspicious activities in M/s Liqus Tradex Pvt Ltd's account. This prompted an internal inquiry by the bank's Compliance Department, which uncovered high-volume, high-value domestic transactions inconsistent with the account holder's profile. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Direct shopping From Adidas Franchise Store... Adidas Buy Now Undo Further investigations revealed that the photographs on identity documents (Aadhaar and PAN cards) submitted for opening accounts for both M/s Liqus Tradex Pvt. Ltd (New Delhi) and M/s ID Technologies Pvt Ltd (Mumbai) were identical, despite bearing different names. While another accused, Sumit Verma, was acquitted, two others, Anuj Kumar Chand and Sunita Devi, remain absconding. Public prosecutor Pravina Patil argued that it is a white-collar crime and had a significant effect on society. In a 60-page judgment, the magistrate stated that evidence from prosecution witnesses established that Raza Naqvi appeared before Shinhan Bank officials and participated in the account opening process of M/s ID Technologies Pvt Ltd by falsely identifying himself as Santosh Kumar. "Subsequently, this account was used to carry out large-scale foreign remittances amounting to Rs 68 crore, based on documents and representation believed to be genuine by bank officials. ..," additional chief judicial magistrate RD Chavan said. The magistrate said that prosecution evidence proved that accused Varun Rana posed as Jogendrasingh and represented himself as a director of M/s ID Technologies Pvt Ltd to Shinhan Bank. "Real Jogendra Singh has categorically denied having opened any such account…," the magistrate said. Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store