Latest news with #EPS
Global News
6 hours ago
- Global News
2 teens shot during drive-by shooting in Edmonton's Strathearn area
Two teens were hit by bullets during a drive-by shooting in a south-central Edmonton neighbourhood last week. The Edmonton Police Service said it happened around 8:20 p.m. on May 23 near 92 Street and Strathearn Drive. Police said a group of young people were in the area when a suspect in a black Mazda 3 car fired several shots at them. Stock image of a 1st Generation (2003-2009) Mazda 3 Sedan. Edmonton Police Service Two teenage boys, ages 14 and 17, were hit by the bullets. As of Tuesday night, one of them had been released from the hospital, while the other one was in stable condition. Story continues below advertisement Residents say Strathearn is usually a quiet, safe neighbourhood on the southern banks of the North Saskatchewan River, full of families and people out enjoying area walking trails and parks. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Residents Cheryl and Neil Prior have lived in Strathearn for 35 years and said because there are two high schools nearby, they see teenagers coming and going all the time. 'We were quite shocked when we heard,' Cheryl said of the shooting. 'It's very unusual for the area — you know, it's pretty safe. That's why we walk this area all the time.' 'Young people should be safe. We like to see them out here rollerblading, walking, whatever.' Tweet This Click to share quote on Twitter: "Young people should be safe. We like to see them out here rollerblading, walking, whatever." The fact the shooting happened during daylight on an evening when plenty of people would have been outside enjoying themselves alarmed them, Neil added. 'The sun's out and it was calm. Like, (if) it would have been two in the morning, maybe a bit more understandable,' he said. Resident Jim Kinney said police canvassed the neighbourhood, asking residents for any info they may have. 'Shocked, I suppose, is the first reaction — but somewhat resigned to the fact that it seems to be happening more and more,' Kinney said. He said the upper-middle-class neighbourhood is generally quiet and safe, and hopes that doesn't change. Story continues below advertisement 'This is a nice little area, a little piece of paradise. Hopefully it's once and we don't have it happen again because it is quite nice to live here.' It's not known if the shooter and victims knew each other or if it was a random drive-by shooting. 'Why this neighbourhood? Is it a resident, is it somebody that frequents the neighbourhood?' Kinney said. Police said officers continue to investigate and no other information is available. Anyone with any information, security camera or dashcam footage related to this incident is asked to contact the EPS at 780-423-4567 or #377 from a mobile phone. Anonymous information can also be submitted to Crime Stoppers at 1-800-222-8477 or online.
Global News
6 hours ago
- Global News
Arrest warrants out for 2 men who fled Alberta Hospital psychiatric facility
The Edmonton Police Service is searching for two men who escaped the Edmonton psychiatric facility where they were being held. Arrest warrants have been issued for Justin Somers, 39, and Coletan Bearhead, 29, who were both last seen Tuesday night fleeing from Alberta Hospital, near Fort Road in northeast Edmonton. Police said the duo were reportedly seen running towards 18 Street around 7 p.m. Somers and Bearhead are now unlawfully at large, considered dangerous and should not be approached, EPS said. Somers is five feet 11 inches tall and weighs approximately 250 pounds. He has brown hair and hazel eyes, and a teardrop tattoo under his left eye. He was last seen wearing a camouflage jacket and camouflage pants. View full screen View full screen Previous Image Next Image Close Modal Gallery This isn't the first time Somers has escaped: in 2015, while on an outing to the Kinsmen Recreation Centre, he disappeared after using the bathroom. Story continues below advertisement A Canada-wide warrant was issued and Somers was found two days later in west Edmonton. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy The man with schizophrenia was being held at Alberta Hospital after being charged with second-degree murder for the 2011 stomping death of a fellow inmate at the Edmonton Remand Centre, but found not criminally responsible in 2013. Court heard that Somers was in a cell in May 2011 for breaching bail conditions when he attacked Barry Stewart. The 60-year-old man had been arrested after failing to pay a fine for riding on public transit without paying the fare. Both Somers and Stewart were assessed as having mental health issues and the recommendation was for a special unit to accommodate that but there was no room, so they were placed together after consultation with a psychologist. Stewart was asleep on the floor when Somers climbed onto a concrete bench and jumped with both feet onto Stewart's head. Somers' trial was told the accused stomped on Stewart's head 26 times before he was stopped by guards. He was deemed in a psychiatric assessment as a possible risk to other people. View full screen View full screen Previous Image Next Image Close Modal Gallery Bearhead is six feet tall and weighs approximately 220 pounds. He has black hair, brown eyes, a moustache and pierced ears. He was last seen wearing a red hat, a red shirt, a black hoodie and black pants. Story continues below advertisement He also has a history of mental health conditions and is known to be very violent, according to a most wanted alert from the Edmonton Police Service in 2024. Alberta Hospital has inpatient and outpatient programs and treats both patients who are there voluntarily and people under court orders. — with files from The Canadian Press
Indian Express
9 hours ago
- Business
- Indian Express
EPFO head office flags ‘exceptionally high' rejection of higher pension applications
The Employees' Provident Fund Organisation (EPFO) head office has written to its field formations flagging the 'exceptionally high' rejection of application vis-à-vis issuance of demand letters in the case of higher pension cases. The missive, dated May 23, has come after the Ministry of Labour and Employment instructions to the retirement fund body to undertake an audit for all such cases of rejection of higher pension applications. A total of 17.49 lakh applications were received for the higher pension option after the Supreme Court directed the EPFO to open a window for pensioners and members to apply for it. Out of the 17.49 lakh applications, 1.02 lakh applications were referred back to employers for complete information and demand letters were issued to 3.68 lakh applicants as of March 31 this year, an official told The Indian Express. Over 1 lakh pensioners have deposited the additional amount sought by the EPFO and over 47,000 members, who are still in service, have also deposited the higher amount, the official said. As per the data at the end of the previous financial year, the EPFO has issued over 34,500 pension payment orders (PPOs), out of which around 19,000 are in process, the official said. In its letter, the EPFO head office stated that it has received numerous grievances from stakeholders regarding the rejection of applications due to minor deficiencies that could have been rectified by employers if they had been provided with adequate guidance and opportunity to address them. 'Arbitrary rejections at various offices have resulted in a number of complaints and have made it difficult for the Head Office to respond effectively. Officers are advised to ensure that applications are processed strictly adhering to the guidelines and instructions provided by the head office. Rejections should be based on substantial and justifiable reasons, and applicants must be given adequate opportunity to rectify minor deficiencies in their submissions. Employers and employees should be adequately facilitated to comply with the requirements, thereby ensuring fair and efficient processing of applications,' the letter stated. The SC in a ruling on November 4, 2022 had upheld the amendments to the Employees' Pension (Amendment) Scheme, 2014, providing another chance for employees who were existing EPS members as on September 1, 2014, to contribute up to 8.33 per cent of their 'actual' salaries — as against 8.33 per cent of the pensionable salary capped at Rs 15,000 a month — towards pension. Applications that are complete with the required information are processed and demand letters issued by the EPFO indicate the additional due amounts to the pension fund. If the applicants for higher pension under EPS have the due amount available in their provident fund accounts maintained with the EPFO, then only a diversion is required. In cases where the due amount is not available with the EPFO, then it has to be deposited by the member directly or through the employer. In the letter sent last week, the EPFO head office also pointed out instances of rejections wherein the exempted provident fund trust rules did not contain any explicit bar on contribution to EPS 95 beyond wage ceiling or cases where the interpretation of the term 'wages' have been interpreted incorrectly. 'There are even references where the process of verification has been converted into a probing exercise to look out for justification for rejection of applications,' it said. The EPFO letter noted that the Ministry of Labour and Employment has asked the retirement fund body to carry out an audit by a specialised team of chartered accountants empanelled under Comptroller and Auditor General (CAG). The EPFO might also deploy its own audit teams to examine cases of rejection, especially those which are under litigation, it said, asking officers to review the cases and take necessary action. Earlier, in January this year, the EPFO head office in a letter to its field offices had said that despite issuance of several circulars and clarifications to facilitate the prompt disposal of higher pension applications, the 'overall progress remains below expectations due to delays in disposal of applications'. The EPFO head office had set fresh deadlines of January 24 and February 7 for its field offices to complete processing of the higher pension applications. 'For offices having less than 5,000 applications with joint options, the final deadline for completing the examination of all pending applications will be January 25, 2025. For all other offices the deadline is set for February 7, 2025. All clear cases for PPO issuance should be completed at all offices by January 24, 2025,' the EPFO chief had said in his letter. Nov-end 2024 Mar-end 2025 Demand letters issued 1.19 lakh 3.68 lakh Pension Payment Orders 16,282 34,500 Aanchal Magazine is Senior Assistant Editor with The Indian Express and reports on the macro economy and fiscal policy, with a special focus on economic science, labour trends, taxation and revenue metrics. With over 13 years of newsroom experience, she has also reported in detail on macroeconomic data such as trends and policy actions related to inflation, GDP growth and fiscal arithmetic. Interested in the history of her homeland, Kashmir, she likes to read about its culture and tradition in her spare time, along with trying to map the journeys of displacement from there. ... Read More
Time of India
19 hours ago
- Business
- Time of India
8.25% interest rate on EPF balance for FY 2024-25 got final nod from Govt: Check how it will impact your EPF balance
According to a PTI report, the central government has approved an interest rate of 8.25% for Employees' Provident Fund (EPF) account holders for FY 2024-25. The interest rate has been ratified following the EPFO's recommendation to the central government. With this official confirmation, the EPFO can now start the process of crediting interest to the EPF account holders. Further, if your EPF account is held with an exempted trust, then the EPF trust can also follow the process of crediting interest on balances held during the financial year 2024-25. ET Wealth online tells you how much interest you will get on your EPF balance, when the interest will start reflecting in your EPF account, and if you lose any interest on the EPF account due to a delay in EPF credit. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2 ingredientes para remover as manchas na pele Conselhos E Truques Undo How much EPF interest will be credited to your account? Para 60 of the EPF scheme 1952 defines the rule for calculating the interest for the EPF account. As per the scheme rules, interest is calculated on the monthly running balance and is credited at the end of the financial year. To know how much interest will be calculated on your EPF account balance, it is important to know your and your employer's contributions to the EPF account. Live Events Here is an example to understand this. Suppose your EPF balance is Rs 5 lakh on April 1, 2024. This includes previous EPF contributions and interest earned on them. During the FY 2024-25, your basic monthly salary was Rs 50,000. As per the EPF scheme rules, an employee contributes 12% of the basic salary to the EPF account, and the employer also makes the matching contribution. Hence, you will deposit Rs 6000 per month. Your employer will also make a matching contribution of Rs 6000. However, the full amount will not go into your EPF account. Out of the employer's contribution, 8.67% will go to the Employees' Pension Scheme (EPS) typically with a limit of Rs 1,250 per account, and the balance will go to the employee's EPF account. Your employer's monthly contribution to the EPF account will be Rs 4,750. The interest accrued to your EPF account varies monthly. This will be calculated as follows: Month EPF deposit (In Rs) EPF deposits for interest calculation (In Rs) Monthly interest (In Rs) Apr-24 10750 510750 3511.41 May-24 10750 521500 3585.31 Jun-24 10750 532250 3659.22 Jul-24 10750 543000 3733.13 Aug-24 10750 553750 3807.03 Sep-24 10750 564500 3880.94 Oct-24 10750 575250 3954.84 Nov-24 10750 586000 4028.75 Dec-24 10750 596750 4102.66 Jan-25 10750 607500 4176.56 Feb-25 10750 618250 4250.47 Mar-25 10750 629000 4324.38 Total EPF interest in FY 2024-25 47014.69 For FY 2024-25, the interest of Rs 47,014.69 will be credited to your EPF account. When will the EPF interest be credited to your EPF account? Crediting of EPF interest generally takes a long time. Usually, EPF interest is credited to the latter part of the year. EPF account holders should check their accounts to know the status of the interest credited to their accounts. Generally, logging in to the EPF Passbook website is difficult. If you are facing issues logging in to your EPF account, you can use alternative methods to check the EPF balance. Also Read: EPF Passbook website not working? Check EPF balance via missed call and SMS Do you lose any interest if there is a delay in the crediting of interest? In previous instances, the Employees Provident Fund Organisation (EPFO) has clarified that there would be no interest loss for the EPF members. EPFO amended the rules in November 2024 to minimise the loss of interest to EPF members in case of EPF claim settlement. As per the new rules, an EPF member will get the interest on the EPF balances till the date of settlement instead of till the preceding month earlier.
Yahoo
21 hours ago
- Business
- Yahoo
StarragTornos Group (VTX:STGN) investors are sitting on a loss of 28% if they invested a year ago
The simplest way to benefit from a rising market is to buy an index fund. But if you buy individual stocks, you can do both better or worse than that. That downside risk was realized by StarragTornos Group AG (VTX:STGN) shareholders over the last year, as the share price declined 30%. That's well below the market return of 6.9%. Longer term shareholders haven't suffered as badly, since the stock is down a comparatively less painful 23% in three years. Now let's have a look at the company's fundamentals, and see if the long term shareholder return has matched the performance of the underlying business. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. Unhappily, StarragTornos Group had to report a 70% decline in EPS over the last year. The share price fall of 30% isn't as bad as the reduction in earnings per share. It may have been that the weak EPS was not as bad as some had feared. The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers). We know that StarragTornos Group has improved its bottom line over the last three years, but what does the future have in store? If you are thinking of buying or selling StarragTornos Group stock, you should check out this FREE detailed report on its balance sheet. While the broader market gained around 6.9% in the last year, StarragTornos Group shareholders lost 28% (even including dividends). Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Longer term investors wouldn't be so upset, since they would have made 0.9%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Consider risks, for instance. Every company has them, and we've spotted 1 warning sign for StarragTornos Group you should know about. Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Swiss exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
