Lists of Government & Public Holidays in India 2024

Lists of Government & Public Holidays in India 2024

Lists of Government & Public Holidays in India 2024

The State Government of India has published the list of Government & Public Holidays in India for the year 2024.

By help of this List of Holidays announced by the State Government the Companies can plan their Holidays List for the employees for the year 2024.

Lists of Government & Public Holidays in India 2024

The Companies has to submit the list of holidays to the concerned labor office to register the holiday list.

Lists of Holidays For States Across India

Andaman and Nicobar Islands
Effective date:1st Jan, 2023
Andhra Pradesh
Effective date:1st Jan, 2023
Arunachal Pradesh
Effective date:1st Jan, 2023
New holidays listAssam
Effective date:1st Jan, 2024
New holidays listBihar
Effective date:1st Jan, 2024
Chandigarh
Effective date:1st Jan, 2023
Chhattisgarh
Effective date:1st Jan, 2023
Dadra and Nagar Haveli
Effective date:1st Jan, 2023
Daman and Diu
Effective date:1st Jan, 2023
New holidays listDelhi
Effective date:1st Jan, 2024
New holidays listGoa
Effective date:1st Jan, 2024
New holidays listGujarat
Effective date:1st Jan, 2024
Haryana
Effective date:1st Jan, 2023
New holidays listHimachal Pradesh
Effective date:1st Jan, 2024
Jammu and Kashmir
Effective date:1st Jan, 2023
New holidays listJharkhand
Effective date:1st Jan, 2024
New holidays listKarnataka
Effective date:1st Jan, 2024
New holidays listKerala
Effective date:1st Jan, 2024
Ladakh
Effective date:1st Jan, 2023
New holidays listLakshadweep
Effective date:1st Jan, 2024
Madhya Pradesh
Effective date:1st Jan, 2023
New holidays listMaharashtra
Effective date:1st Jan, 2024
Manipur
Effective date:1st Jan, 2023
New holidays listMeghalaya
Effective date:1st Jan, 2024
New holidays listMizoram
Effective date:1st Jan, 2024
Nagaland
Effective date:1st Jan, 2023
New holidays listOdisha
Effective date:1st Jan, 2024
New holidays listPuducherry
Effective date:1st Jan, 2024
Punjab
Effective date:1st Jan, 2023
New holidays listRajasthan
Effective date:1st Jan, 2024
New holidays listSikkim
Effective date:1st Jan, 2024
New holidays listTamil Nadu
Effective date:1st Jan, 2024
Telangana
Effective date:1st Jan, 2023
New holidays listTripura
Effective date:1st Jan, 2024
Uttar Pradesh
Effective date:1st Jan, 2023
Uttarakhand
Effective date:1st Jan, 2023
New holidays listWest Bengal
Effective date:1st Jan, 2024
Higher Pension Scheme India 1995

Higher Pension Scheme India 1995

Higher Pension Scheme India

Higher pension Scheme India is a employee pension scheme offered by the Employee Provident Fund Organization (EPFO) in India. It allows employees to contribute a higher amount of their salary towards their pension, which will result in a higher monthly pension after retirement. The higher pension contribution is 8.33% of your actual basic pay, as opposed to the 8.33% of your pensionable salary capped at Rs 15,000 per month.

PF Contribution Employee & Employer

The Employee PF Contribution is done by both Employee & Employer. 12% of PF has been deducted with Employee contribution and Employer has contributed 12% of the PF. Total 24% of the PF contribution is deposit to the PF Contribution.

ContributionEmployee ContributionEmployer Contribution
Basic + Dear Allowance (DA)12%12%
higher pension scheme india

PF & Pension Contribution

The Total 24% of the total PF & Pension has been split in to two PF & Pension Contribution.  12% of Employee PF Contribution is contributed into PF A/C No. 1 and 3.67% of the Employer contribution has been go into PF A/C No. 1. The 8.33 of the Pension Contribution has been go in to the EPF Pension A/C No. 10. As per the current calculation Rs.1250/- (Max cap will go to the EPS Pension A/C No. 10 ie Rs.15000/- (Basic + DA)

ContributionPF A/C No.1EPS (Pension A/C No.10)
Employee Contribution12%12%
Employer Contribution3.67% or Difference Amount8.33% or Rs.1250/-

Current PF Calculation Example

Below is the example of the current PF Calculation

Basic + DA SalaryPF (A/C No 1)EPS (A/C No 10)Contribution
3000036000 Employee Contribution
3000023501250Employer Contribution
Total59501250Employer Contribution

PF Calculation when opting Higher Pension Scheme India

Below is the example of opting Higher Pension Scheme India Calculation

Basic + DA SalaryPF (A/C No 1)EPS (A/C No 10)Contribution
3000036000 Employee Contribution
3000011002500Employer Contribution
Total57002500Employer Contribution

Benefits of Opting Higher Pension Scheme India

The amount of your monthly pension will depend on your average basic salary for the last 5 years of service, your age at retirement, and the number of years you have contributed to the higher pension scheme.

The Pension Calculation formula is derived as

Pension Calculation = Average 60 Months PF Basic /70 * Numbers of years of Service

Here is the example for current PF Pension Calculation and Opting for PF Higher Pension Calculation if the Average Basic Salary is Rs.30000/- and years of Service is 10 Years.

PF Pension CalculationAverage 60 Month Basic SalaryPensionable SalaryYearsPension Calculation
Current Calculation3000015000 102143
Opting  of Higher Pension3000030000104286
Total57002500Employer Contribution5700

Pension Calculator

You can calculate your pension using the below PF Pension Calculator

How to Opt for Higher Pension Scheme India

For Opting Higher Pension Scheme you have to follow the below steps

  1. Login in to the PF Member Portal or click on the link https://unifiedportal-mem.epfindia.gov.in/memberInterfacePohw/member
  2. Enter the PF UAN, Aadhaar Card and Service Details etc
  3. Upload 26(6) Joint Declaration form and PF Contribution details.

Last date for applying higher pension is 26th June 2023.

There are a few benefits to opting for the higher pension scheme. First, it will give you a guaranteed income stream after retirement. Second, it will free up some of your EPF corpus, which you can then invest in other financial products to grow your wealth. Third, it will reduce the burden on you of undertaking exhaustive retirement planning.

However, there are also a few drawbacks to the higher pension scheme. First, it will reduce the size of your EPF corpus, which you can then withdraw as a lump sum after retirement. Second, you will have to pay a higher contribution towards your pension, which will reduce your take-home salary.

Ultimately, the decision of whether to opt for the higher pension scheme is a personal one. You should weigh the benefits and drawbacks carefully and decide what is best for your financial situation.

Here are some things to consider when deciding whether to opt for the higher pension scheme:

  • Your current financial situation
  • Your retirement goals
  • Your risk tolerance
  • Your investment knowledge
  • Your age
  • Your expected retirement ages

If you are unsure about whether the higher pension scheme is right for you, you should speak to a HR or PF advisor.

EDLI Scheme  – Employees Deposit Linked Insurance Scheme 1976

EDLI Scheme – Employees Deposit Linked Insurance Scheme 1976

What is EDLI Scheme?

EDLI stands for Employee Deposit Linked Insurance Scheme in Provident Fund.  Employees Deposit Linked Insurance Scheme was introduced in the year 1976. EDLI Scheme is a Life Insurance scheme for the employees.

The EDLI Benefits provided under the Scheme in the nature of life insurance as follows.

The scheme is open to all EPFO members.

  1. On the Death of employment while in service a lumpsum of Insurance amount is payable to his nominees or family members.
  2. The Insurance amount is equal to the average balance in the PF Account of the deceased employee during a period of 12 months immediately preceding his death. In case the average balance.
  3. Minimum Insurance cover is Rs. 2.5 Lakhs and the Maximum Insurance cover is over to 7 Lakhs.

What is the Monetary Benefits of EDLI Scheme?

  1. With effect from 28.04.2021, the EPFO has increased the maximum benefit to Rs.7 lakh for the registered nominees of the deceased member.
  2. The Ministry had increased the minimum amount of benefit to Rs.2.5 lakh on Feb 2018 for two years. However, the EPFO has further decided to continue with the same minimum benefit of Rs.2.5 lakh with retrospective effect from 15th Feb 2020.
  3. Also, with effect from 28.04.2021, the EPFO has extended the benefit to the nominees of the deceased member who have changed their establishment for employment within a period of 12 months preceding the month of their death.

How to apply EDLI under PF

The EDLI Claim to be applied by the nominee of the deceased online or offline in case of E Nomination is not done by the deceased employee. Following are the documents to be submitted by the nominees

  1. Death Certificate of the deceased
  2. Legal Heir Certificate of the Deceased
  3. Aadhaar card copy of the deceased
  4. Aadhaar card copy of the nominees
  5. PAN Card copy of the nominees
  6. Birth Certificate in case of the nominee is children
  7. Bank Account number of the nominees

On receipt of the claim the EPFO will release the share amount mentioned in the deceased legal Heir  / Succession Certificate issued by the Government or Court.

Maharashtra minimum Wages W.E.F 01.01.2023

Maharashtra minimum Wages W.E.F 01.01.2023

Maharashtra Minimum Wages

Maharashtra minimum Wages

Maharashtra Minimum Wages for shops and establishments in Maharashtra is effective from 01.01.2023 and employers are advised to pay arrears based on the notification attached. The total per month column mentioned below includes Basic and VDA only, but the HRA component may be used for arriving at overall wages

Class of EmploymentZoneBasic Per MonthHRA Per MonthVDA Per MonthTotal Per DayTotal Per Month
UnskilledZone I10021.00623.252444.00479.4212465.00
UnskilledZone II9425.00593.452444.00456.5011869.00
UnskilledZone III8828.00563.602444.00433.5411272.00
Semi-skilledZone I10856.00665.002444.00511.5413300.00
Semi-skilledZone II10260.00635.202444.00488.6212704.00
Semi-skilledZone III9664.00605.402444.00465.6912108.00
SkilledZone I11632.00703.802444.00541.3814076.00
SkilledZone II11036.00674.002444.00518.4613480.00
SkilledZone III10440.00644.202444.00495.5412884.00
Security Guard/Lady Security Guard – Security ServicesMumbai/Thane12082.002905.002444.00558.6914526.00
Head Guard – Security ServicesMumbai/Thane12357.002960.002444.00569.2714801.00
Security Supervisor – Security ServicesMumbai/Thane13057.003100.002444.00596.1915501.00
Assistant Security Officer – Security ServicesMumbai/Thane13282.003145.002444.00604.8515726.00
Security Officer – Security ServicesMumbai/Thane13732.003235.002444.00622.1516176.00
Chief Security Officer – Security ServicesMumbai/Thane14182.003325.002444.00639.4616626.00
Security Guard/Lady Security Guard – Security ServicesPune7400.002090.406536.00536.0013936.00
Head Guard – Security ServicesPune7500.002105.406536.00539.8514036.00
Security Supervisor – Security ServicesPune8000.002180.406536.00559.0814536.00
Assistant Security Officer – Security ServicesPune8500.002255.406536.00578.3115036.00
Security Officer – Security ServicesPune9000.002330.406536.00597.5415536.00
Chief Security Officer – Security ServicesPune9400.002390.406536.00612.9215936.00
Security Guard/Lady Security Guard – Security ServicesNagpur11804.002782.002444.00548.0014248.00
Head Guard – Security ServicesNagpur12079.002837.002444.00558.5814523.00
Security Supervisor – Security ServicesNagpur12779.002977.002444.00585.5015223.00
Assistant Security Officer – Security ServicesNagpur13004.003022.002444.00594.1515448.00
Security Officer – Security ServicesNagpur13454.003112.002444.00611.4615898.00
Chief Security Officer – Security ServicesNagpur13904.003202.002444.00628.7716348.00
Ex-Army Security Supervisor – Security ServicesNagpur15874.003596.002444.00704.5418318.00
Ex-Army Security Guard – Security ServicesNagpur12114.002844.002444.00559.9214558.00

Download the Notification Here

Maharashtra Minimum Wages & VDA Notification 01.01.2023

Maharashtra Mumbai & Thane Security Guard board minimum wages VDA notification 01.01.2023

Pune Security Guard board Minimum Wages VDA Notification 01.01.2023

Labour welfare fund contribution slab 2022 Tamil Nadu

Labour welfare fund contribution slab 2022 Tamil Nadu

labour welfare fund contribution slab 2022 tamil nadu

Labour welfare fund contribution slab 2022 tamil nadu

Labour welfare fund contribution slab 2022 tamil nadu was revised with effective from 2nd December. The Government of Tamil Nadu, vide Notification G.O.MS.No. 161, revised the rate of contribution, under the Tamil Nadu Labour Welfare Fund Act, 1972, to twenty rupees for employees and forty rupees for employers, effective from 2nd December 2022.

Employee ContributionEmployer ContributionTotal ContributionCompliance Date
Rs.20/-Rs.40/-Rs.60/-31st January Every Year

The Labour Welfare fund Contribution to be deducted from employee salary in the month of December Every Year.

Please refer to the notification for more details for Labour welfare fund contribution slab 2022 tamil nadu

What is Labour Welfare Fund?

Labour welfare fund is a statutory contribution managed by State Government. The state labour welfare board determines the amount and frequency of the contribution. The contribution and periodicity of remittance differs with every state. In some states the periodicity is annual (Andhra Pradesh, Haryana, Karnataka, Tamil Nadu etc) and in some states it is to be contributed during the month of June & December (Gujarat, Madhya Pradesh, Maharashtra etc).

Labour welfare is an aid in the form of money or necessities for those in need. It provides facilities to labourers in order to improve their working conditions, provide social security, and raise their standard of living.

To justify the above statement, various state legislatures have enacted an Act exclusively focusing on welfare of the workers, known as the Labour Welfare Fund Act. The Labour Welfare Fund Act incorporates various services, benefits and facilities offered to the employee by the employer. Such facilities are offered by the means of contribution from the employer and the employee. However, the rate of contribution may differ from one state to another.