In the wake of the ongoing COVID-19 pandemic, the Kerala government has extended the deferment of salaries of its employees by six more months.
The five-month deferred salary of the employees would be merged with Provident Fund (PF) on April 1, 2021, as an immediate liability of Rs. 2,500 Cr would be incurred if repaid in cash. The merged amount can be withdrawn after June 1, 2021.
Furthermore as a cost-cutting measure, the state has also decided to not embellish government buildings, purchase furniture and vehicles in government institutions and offices for one year.
The government has come up with these decisions on the recommendations of two expert committees set up to review the economic situation of state.
An official release said: Deferment of salary will continue for another six months starting from September 1. However, the salary thus deferred will carry an interest rate of nine per cent per annum until it is merged into PF on April 1, 2021.
Follow and connect with us on LinkedIn, Facebook, Instagram, Twitter for latest HR news and insights.
Is your organisation post-COVID-ready?
Trending
-
SBI General Insurance Launches Digital Health Campaign
-
CredR Rolls Out 'Life Happens' Leave For Its Employees
-
Meesho Announces 30-Week Gender-Neutral Parental Leave Policy
-
Microsoft Unveils Tech Resilience Curriculum To Foster An Inclusive Future
-
60% Indian Professionals Looking For Job Change Due To COVID: Survey
-
SpringPeople And Siemens Collaborate For Digital Transformation Push
-
86% Professionals Believe Hybrid Work Is Essential For Work Life Balance: Report
-
Almost 1 In Every 3 People's Personal Life Affected Due To Work Stress
-
Meesho Rolls Out Reset And Recharge Policy For Employees
-
80% Of Talent Leaders & Academics Say Pandemic Changed Skill Needs For Youth: Report
-
Hero Electric Rolls Out 'Hero Care' Program For Employees
-
Human Capital In Collaboration With ASSOCHAM Hosts Virtual Conference
-
IKEA India, Tata STRIVE Collaborate To Create Employability And Entrepreneurship Opportunities
-
SAP India, Microsoft Launch Tech Skilling Program for Young Women
-
DXC Technology, NASSCOM Collaborate For Employability Skills Program
-
Lenskart To Hire Over 2000 Employees Across India By 2022
-
Mindtree Launches Learn-and-Earn Program
-
Tata AIA Extends 'Raksha Ka Teeka' To Its Employees
-
Swadesh Behera Is The New CPO Of Titan
-
NetConnect Global Plans To Recruit 5000 Tech Professionals In India
-
Hubhopper Plans To Hire 60% Of Indian Podcasters By 2022
-
Corporate India Needs More Women In Leadership Roles: Report
-
Aon to Invest $30 Million and Create 10,000 Apprenticeships by 2030
-
Tech Mahindra Launches ‘Gift a Career’ Initiative for Upskilling of Youth
-
40% Women Prefer Flexible Working Options in Post-COVID World: Survey
-
3 out of 4 companies believe they can effectively hire employees virtually: Report
-
Vodafone , CGI and NASSCOM Foundation launch digital skills platform
-
Odisha: Bank, postal employees to deliver cash for elderly, differently-abled persons
-
Skill India launches AI-based digital platform for "Skilled Workforce"
-
Hiring activity declines 6.73% in first quarter: Survey
-
70% startups impacted by COVID-19 pandemic
-
Bajaj Allianz Life ropes in Santanu Banerjee as CHRO
-
Over 70 Percent MSMEs look at cutting jobs to sustain businesses
-
93 Per Cent employees stressed about returning to office post-lockdown
-
Johnson & Johnson India announces family benefits for same gender partners
-
Indian firms turning friendly towards working mothers
-
Welspun India names Rajendra Mehta as new CHRO
-
Wipro partners with NASSCOM to launch Future Skills platform
Human Capital is niche media organisation for HR and Corporate. Our aim is to create an outstanding user experience for all our clients, readers, employers and employees through inspiring, industry-leading content pieces in the form of case studies, analysis, expert reports, authored articles and blogs. We cover topics such as talent acquisition, learning and development, diversity and inclusion, leadership, compensation, recruitment and many more.
Subscribe Now
Comment