PRFC

EPF or employee provident fund should only be withdrawn at the time of retirement, say financial planners. To encourage subscribers to transfer their money to a new EPF account rather than withdraw the sum, EPFO (Employees' Provident Fund Organisation) has taken many initiatives.  EPFO's "One Member - One EPF Account" facilit y  can be availed by subscribers after logging into the EPFO's member-interface website and accessing the "Online Services" tab. An EPFO subscriber can also take advance from EPF deposits in specific cases such as purchase/construction of house, repayment of loan, marriage of self/daughter/son/brother, medical treatment of family member etc.  10 Things To Know About EPF Withdrawal 1) To encourage long-term savings, the government has formulated tax laws accordingly. If the withdrawal from a recognised PF happens after five years of continuous employment, it attracts no tax liability. In case of employment with different empl...

Human Resource Management (HRM) is the term used to describe formal systems devised for the management of people within an organization. The responsibilities of a human resource manager fall into three major areas: staffing, employee compensation and benefits, and defining/designing work. Essentially, the purpose of HRM is to maximize the productivity of an organization by optimizing the effectiveness of its employees. This mandate is unlikely to change in any fundamental way, despite the ever-increasing pace of change in the business world. As Edward L. Gubman observed in the  Journal of Business Strategy , "the basic mission of human resources will always be to acquire, develop, and retain talent; align the workforce with the business; and be an excellent contributor to the business. Those three challenges will never change." Until fairly recently, an organization's human resources department was often consigned to lower rungs of the corporate hierarchy, despite the...

With advancement in technology, conventional methods are being replaced by  new-age techniques . Globalization is on the rise and companies are spreading out all around the world, no longer restricted by geographical barriers. Economies are rising and falling and evolving continuously. Adding to the turmoil are stringent laws and regulations passed, leading to a constant void waiting to be filled with effective policies that follow all the  legal guidelines  and at the same time are not compromising on the organization’s survival. In the midst of all this, is a function necessary, but minimally looked upon – the human resource function. In a quest to integrate the operations and strategies of a business across a wide array of products, services, ideas, and cultures, the role of human resource managers is constantly evolving. HR managers, who were once confined to handling basic data work and routine record keeping amongst employees, are now exposed to an evolving nature...