A Zomato delivery boy on a motorcycle.
The Union Ministry of Labour and Employment is targeting to bring around 40-50 lakh gig and platform workers across the nation under the ambit of the Employeesâ State Insurance Scheme (ESIC) upon the implementation of the social security code.
The code was passed by the parliament in September last year and proposes to extend the benefits of ESIC to platform and gig workers, who are considered to be the least privileged classes of the labour force.
Apparently, companies such as Swiggy and Uber will be asked to pitch in with 1-2 per cent of their annual turnover or 5 per cent of the total payable amount to these workers, whichever is lower, to a social security fund.
Union Budget 2021: 10 Things That May Have An Effect on Your Personal Finances
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The Union Budget 2021, presented by Finance Minister Nirmala Sitharaman, did not make a change to tax slabs in Income Tax Returns. However, Sitharaman announced relief for senior citizens above the age of 75, relief for NRIs measures that will make filing taxes easier.
Here s a look at 10 things from the budget that may affect your personal finances:
1. No ITR for senior citizens
In a huge relief for those aged above 75 and earning pension and interest income, filing their income tax returns will not be required. MoneyControl.com reported that the finance minister didn’t specify whether dividend income is also included to help senior citizens qualify. Many senior citizens also invest a portion of their portfolios in equities. The fine print of the Budget will likely to provide greater clarity.
Budget 2021: 10 changes that impact your personal finances
From those above 75 not having to file tax returns to orderly recovery of money when banks go bad, here are 10 key personal finance announcements from Budget 2021 Moneycontrol PF Team February 02, 2021 / 01:20 AM IST
Budget 2021 has left personal income tax rates unchanged. Here are the top 10 announcements that can affect your personal finances.
Senior citizens need not file income-tax returns
In a relief to senior citizens, those aged 75 or more and only have pension and interest income will not have to file income tax returns. But if you earn dividend income or any other income, then you have to file your income-tax returns, as usual. There are other clauses here as well; both interest income and pension income must be credited to your saving bank accounts belonging to specific banks that the government will soon notify.