300 #Wipro employees sacked as they took advantage of work from home and worked parallely with another company.
How #Digital#India has precisely found the culprits is amazing. Kindly read the below article. Fantastic system in place in India.
*The humble looking PF Office helps to detect Moonlighting (serving more than one employer at a time) by IT workers*
*MOONLIGHTING*
What is this?
300 people got fired because of this?
IT professionals in their Work From Home avtaar joined other companies who were also in Work From Home mode.
Same competency, double delivery. Two different laptops, same WiFi , catering to two different clients - all from the comfort of own home, in own hometown.
In both networks/ jobs performing exceedingly well - just to avoid suspicion.
It was impossible to catch them .
*Then who caught them?*
The most innocent looking, unassuming, always in the background - Provident Fund Contribution.
Govt mandated that PF contribution has to be deposited regularly and it’s violation was a serious offence.
Lo behold, as all aadhar, PAN numbers are taken by banks to open salary account, same are used to deposit PF, same are required by companies to do back ground check.
Systems are so beautifully integrated at the back end that it was next to impossible for these moonlighters to create two identities both financially and demographically.
*So the PF runs a daily De-Duplication algorithm to check if someone has paid double accidentally.*
*They found out that there are accounts of individuals, where contributors are multiple.*
This was reported to companies, and the entire Bhanumati ka kunaba came down crashing.
This is the power of Digital India working at grass roots level to weed out corruption.
GOI saw this potential years ago and has been incessantly prodding Govt organisations to go digital.
Today our UPI and Aadhar technology stack is the most sought after in the world.
In the background, India is integrating all of its islands of excellence.
All data bases of Govt are moving towards unified integration at a very fast pace.
An open architecture where every database talks to other seamlessly without human intervention.
We are the only country in the world where delivery of citizen centric services through technology has matured to a level where it’s become way of life. #DigitalIndia
This tweet got 1 Million impressions.
It's time moonlighting gets its place under the sun
Companies have always allowed this privilege to certain people called 'consultants' and have had similarly eligible people sit on their boards in the form of 'independent directors
When companies hire and fire staff or withhold a part of their pay due to industry’s under-performance, it is not considered an issue of ethics but of business necessities
It's an idea whose time has come. Those not willing to acknowledge it are choosing to live under a rock.
It’s time a comprehensive policy is formulated that provides the employees the option of working outside one’s full-time employment – laying down what’s allowed and what’s not.
It would go far in democratising HR policies and making organisational work culture more transparent.
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How UPI killed Candy Business. Can your business be affected too?
When I heard that UPI is killing the candy business? Really How??
I got this on Whatsapp, so kindly tag whoever deserves the credit for this take on disruption because of technology
Further exploration, was an eye opener with hard to believe detail as to *how a business was built on “chutta nahi hai"* went into downhill as UPI arrived.
*In early 2010s almost all big Candy players, including Mondelez, Mars, Nestle, Perfetti, Parle & ITC reported staggering
growth & future prospects. But as UPI arrived, most of these brands have reported a steep decline in sales of toffee*.
Hershey’s, one of world’s biggest chocolate & toffee maker said India is one of the worst hit markets in the post COVID era hitting their expansions plan.
#HDFC- HDFC Bank surprising interim shareholding disclosure-
The foreign shareholder disclosure by the two giants (HDFC Ltd and #HDFCBank)today is one of the rare events,as generally the shareholdings for a quarter is disclosed only in the beginning of next quarter
🔹Since the announcement of merger on April 04, 2022 HDFCB has corrected by 20% and HDFC by 18% vs Nifty Index which has declined by 10% till date.
The surprising foreign shareholding disclosure today reflects more of a pro-active measure by the management to help calm jittery nerves of the investor community
What has changed since March 31, 2022 shareholding toMay13,2022 Foreigners have trimmed stake in both the entities
1. #PFIZER METHOD
Hire a lion, give him full rest, pay him more than his expectations, never ask for anything in the first two months. After two months tell him that you have to achieve your yearly target in 9 months.
Lion dies of fear, that if he does not achieve this he will lose the jungle.
2. *AMAZON METHOD*:
Hire a lion, give him a hell of a lot of work, pay him a fat salary, more than the industry. Restructure his job every six months, as per your fancies.
If he kills two goats a day, next day give him a target of killing 20 elephants a day while knowing that there are only 10 elephants available. Lion dies of exhaustion & overkill.
➡️Rs.1 lakh profit in a Financial year is exempt as Long term capital gains. So book profits in shares & mutual funds together upto 1 lakh, and reinvest
➡️ If profits are more than 1 lakh, check if you can book loss in any of the holdings to set off.
You can buy back the next day or switch from 1 family account to another family account
➡️Short term capital gains are taxed at 15%, book losses and buy back next day to set off any profits.
➡️Both Long and short term losses can be carried forward for 8 years.
Stocks in Germany, the UK, France, Italy, and Spain Plunge Below Year 2000 Levels: Buy-and-Hold Horror Shows
by Wolf Richter • Mar 6, 2022 •
Food for thought in light of the biggest stock market bubble in the US ever.
By Wolf Richter for WOLF STREET. #investing
Major European stock indices plunged below their bubble highs from over two decades ago. This is not to say that they plunged that much this week, but that they had finally risen past their prior bubble highs from over two decades ago, powered by money printing,
and then they plunged.
German stocks. The most widely cited German stock market index, the DAX, is a total return index that includes dividends and is therefore not comparable to a price index such as the S&P 500 Index, which does not include dividends.
Another short investing story to help put successful investing into context.
David loves games, which is a bit of an understatement. He owns 756 board games, which I assume is a record if record-keepers kept track of such a thing. #invest#nifty#investors
I found David playing an old arcade game at our office. I asked if he prefers board games to video games. He wasn't sure, so I asked a different question, meant as a joke but it elicited a great response.
"If you had to give up board games, video games, or stocks, which would you quit?" I asked.
"Stocks," David said, without hesitation.
This surprised me. David's passion for investing is part of what our company relies on.