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Ministry of Labour & Employment had decided to reduce the Employees’ provident fund contributions to ____% from the existing 12% for three months till July 2020.
  • a)
    6
  • b)
    8
  • c)
    10
  • d)
    5
  • e)
    11
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Ministry of Labour & Employment had decided to reduce the Employee...
In order to retain more money in the hands of the employer and the salary payer, Ministry of Labour & Employment, Government of India (GoI), had decided to reduce the Employees’ provident fund (EPF) contributions to 10% from the existing 12% for three months till July 2020.
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Ministry of Labour & Employment had decided to reduce the Employee...
The Ministry of Labour is a government department responsible for labor-related matters in a country. Its main objective is to ensure fair and safe working conditions for employees and to protect their rights. The specific responsibilities of the ministry may vary from country to country, but they generally include the following:

1. Employment regulations: The ministry establishes and enforces laws and regulations related to employment, such as minimum wage, working hours, leave entitlements, and employment contracts.

2. Workplace safety: The ministry is responsible for promoting and enforcing occupational health and safety standards to ensure a safe working environment for employees. This may involve conducting workplace inspections, providing training and education on safety practices, and investigating workplace accidents.

3. Labor relations: The ministry plays a role in facilitating and regulating the relationship between employers and employees. It may be involved in the negotiation and enforcement of collective bargaining agreements, mediation of labor disputes, and resolution of workplace conflicts.

4. Employment services: The ministry may provide services to job seekers and employers, such as job placement assistance, career counseling, and support for workforce development initiatives. It may also oversee programs for unemployment benefits and job training.

5. Labour market analysis: The ministry collects and analyzes data on the labor market, including employment trends, unemployment rates, and wage levels. This information is used to inform policy decisions and develop strategies to address labor market challenges.

Overall, the Ministry of Labour plays a crucial role in promoting fair and equitable labor practices and ensuring the well-being of workers in a country.
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Ministry of Labour & Employment had decided to reduce the Employees’ provident fund contributions to ____% from the existing 12% for three months till July 2020.a)6b)8c)10d)5e)11Correct answer is option 'C'. Can you explain this answer?
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