EPFO onboards Air India for social security coverage


EPFO onboards Air India for social security coverage to service the Social Security needs of their employees. Air India Ltd applied for voluntarily covered u/s 1(4) of the EPF & MP Act 1952 which has been allowed vide gazette notification dated 13.01.2022 w.e.f. 01-12-2021.


The social security benefits will be provided to around 7,453 employees for whom contributions have been filed by Air India with EPFO for the month of December 2021. These Employees of AIR INDIA now will be entitled to following benefits:




  1. The employees will receive extra 2% employer’s contributions in their Provident Fund Accounts at 12% of their wages. Earlier they were covered under the PF Act of 1925, where the contributions to the Provident Fund was at 10% by employer and 10% by employee,
  2. EPF Scheme 1952, EPS 1995 and EDLI 1976 will now be applicable to the employees.
  3. A guaranteed minimum pension of Rs 1,000/- will be available to employees and pensions to family and dependents in case of death of employee.
  4. An assured insurance benefit in case of death of member will be available in the range of minimum Rs.2.50 Lakh and maximum 7 Lakhs. No premium is charged to the EPFO covered employees for this benefit.




Since 1952-53, Air India and Indian Airlines were the two separate companies that were covered under PF Act 1925. In 2007, both the companies merged into one company- Air India Ltd.  Under the PF Act 1925, benefit of Provident Fund was available but there was no statutory pension scheme or insurance Scheme. The employees used to participate in self-contributory annuity-based pension scheme.  Based on the scheme parameters, the accumulations used to be paid to the employees. There was no minimum pension guarantee and no extra benefit in case of death of a member


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ADAX Onboards Mate Tokay, Bitcoin.com co-founder, as a new Strategic Advisor

 When a new project enters the market, establishing brand credibility is crucial, which is exactly what ADAX has done via developing strong strategic partnerships. ADAX is happy to announce that it has added Mate Tokayco-founder of Bitcoin.com, to their team as a strategic advisor and an investor. The news of this partnership comes just after ADAX announced a partnership with Charli3, another major player within the Cardano ecosystem.

About Mate:

Mate has great influence in the blockchain and crypto space and was an early adopter of cryptocurrencies.  In 2012, he became involved in Bitcoin and started mining in 2013, using his own custom-built ASIC miners. Seeing an opportunity to share developments with the ecosystem, he founded Bitcoinist.com, a Bitcoin news and review site. He later went on to sell the site and Co-found Bitcoin.com, with Roger Ver

His ultimate goal and passion are to make cryptocurrencies as widely used as possible.  Mate Tokay is a regular at crypto and blockchain conferences, where his passion for the industry is fueled by meeting new people who are involved in the space.  As far as Cardano goes, Mate has been a long-time believer in it, getting his first ADA bag when it was below $0.3. 

Mate’s status as an influencer in the market not only adds great value to the project, but also strengthens the position of ADAX in the marketplace. His experience with user acquisition, the crypto space in general, an enormous professional network, and high profile public image will significantly improve ADAX’s position in the eyes of crypto investors.  His vision greatly coincides with that of ADAX’s, leading him to join the team to help push for the adoption of cryptocurrencies on a global stage.

As a strong proponent of adding value to the Cardano ecosystem, ADAX has established itself as a project that will ease decentralized swaps and bring liquidity as an automated market maker. In an effort to widen its scope, ADAX has also partnered up with Charli3, Netvrk and Black Dragon, serving as marketing, development, and research partners.

These developments mark another milestone in the ADAX’s lifecycle. Though still a young firm, ADAX has proven adept at building momentum and notoriety in the market.  ADAX’s Cardano native token listing will begin on June 26th, just after the Initial Exchange Offering ends the day before.  The last few hours of the IEO serve to be a last call to investors who wish to be part of the next big decentralized exchange.  The ADAX token is available only on ExMarkets for a price of just $0.3. Once the ADAX token goes live on the ExMarkets exchange, the next immediate steps will be to offer off-chain Staking, which will start on June 29th.  ADAX is committed to continuing to build strategic partners to further enhance its global growth strategy.  In addition to its IEO, ADAX will still conduct airdrops and private sales for a limited time. To stay updated, join our community.

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