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EPFO wage limit revision to cost Rs 56,700 crore over 5 years, will cover 5.1 million more workers
The Indian warship was on a routine surveillance mission when the Pakistani vessel approached it at high speed and manoeuvred in an “unprofessional and unsafe manner”, the sources said. The manoeuvring resulted in the two naval vessels colliding. No damage has been reported in the incident, according to the sources.
India's ‌cabinet approved raising the wage ceiling ⁠for Employees' Provident Fund coverage to 25,000 rupees ($260) from 15,000 ‌rupees ⁠on Wednesday, Information Minister Ashwini ⁠Vaishnaw said. The government has clarified which UPI merchant transactions will attract a flat ₹5 Merchant Discount Rate (MDR) under the new framework, while reiterating that person-to-person UPI payments will continue to remain free. Under the framework, UPI transactions above ₹2,000 in certain essential and thin-margin sectors will attract a flat MDR of ₹5 per transaction. The categories include railways, telecommunications, insurance, fuel and agricultural inputs.
India has eased export rules by waiving ‌the requirement for registration certificates for shipments valued at up to 300,000 rupees ($3,125), a ⁠government statement said on Wednesday, in a move aimed at reducing compliance for small businesses and first-time exporters. The exemption, effective under an ‌amendment ⁠to the Foreign Trade Policy, will cover a large number of low-value ⁠export transactions, the statement said, and is expected to ⁠facilitate exports through postal, courier and ⁠e-commerce channels.

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