1.
Your
unclaimed provident funds can suddenly turn lucrative
EPF pensioners will be able to avail medical facilities from a network of more than 1,400 dispensaries and 150 hospitals under ESIC.
There are lakhs of working professionals in India, who have some or the other unclaimed PF money. The reason, withdrawing PF money after changing jobs was a tedious task earlier. People often let go after changing jobs.
If a new proposed scheme comes into being, pensioners may be able to benefit from unclaimed provident funds. The labour ministry is apparently mulling a new scheme under which savings remaining unclaimed in dormant Employees’ Provident Fund (EPF) accounts for seven years will be used to provide medical benefits to pensioners under the EPF scheme.
If the scheme is approved and implemented, EPF pensioners will be able to avail medical facilities from a network of more than 1,400 dispensaries and 150 hospitals under ESIC (Employees State Insurance Corporation) across the country.
Looking to put the money from inoperative account funds to good use, a committee of secretaries, headed by Cabinet Secretary P K Sinha, has reportedly directed the labour ministry to frame a scheme for the benefit of senior citizens who are PF subscribers.
2.
Why Tata Motors turned flat
To create a work environment where people seek development in its real terms and not settle for artificial growth, Tata Motors has just done away with the age-old system of fancy designations.
Career growth and development in our country is often mistaken for change in designations and levels or bands, irrespective of whether the role has changed. Although that may look like growth, up the corporate ladder, that is not development in its true sense. It not only impacts how people perceive and work towards growth in their professional journeys, it also defines the overall work culture in an organisation.
With an aim to create a work environment where people seek development in its real terms and not settle for artificial growth, Tata Motors, as part of its larger transformational journey, has just done away with the age-old system of fancy designations. People fall into the trap of fancy designations and expect a promotion or change in designation every two to three years, irrespective of any real development in their roles or responsibilities.
3.
How Pinteresting! $20,000 employee
benefit for surrogacy
From
July 1, the company will provide a benefit of $20,000 to employees who opt for
surrogacy and $5,000 to those who take the adoption route.
Recently, photo sharing platform Pinterest learnt that one of its employees was planning a surrogacy with his partner. The company also discovered the high cost associated with surrogacy. This triggered the thought and Pinterest rolled out a new employee benefit policy for all its employees.
From July 1, the company will provide a benefit of $20,000 to employees who opt for surrogacy. This money will cover the cost of travel, legal fees and any other related expenses.
In addition, the company has also announced a benefit of $5,000 for employees who take the adoption route. The company already provides parental and fertility benefits of $20,000 along with 16 weeks of parental leave.
Candice Morgan, head of inclusion & diversity, Pinterest, writes in an official blog, “Our people team often speaks with employees to learn more about how we should expand our benefits. This is how we also learnt about the surrogacy case of an employee.”
“We’re always working on building our culture around our mission of helping people discover and do what they love,” she adds.
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