India's quick-service restaurant (QSR) industry is showing early signs of demand recovery, but Macquarie highlights rising costs and intensifying competition from food-delivery aggregators as reasons for its cautiousness. According to Macquarie, post-fourth-quarter trends indicate a gradual improvement in dine-in demand across restaurant chains. Within the sector, Macquarie remains most constructive on franchise operators Devyani International, Sapphire Foods and Westlife Foodworld. However, the recovery remains uneven and is being overshadowed by inflationary pressures and the growing dominance of delivery platforms such as Zomato and Swiggy. The brokerage said same-store sales growth across the listed QSR universe is tracking broadly in line with or slightly ahead of fourth-quarter levels. However, restaurant brands continue to trail delivery aggregators in growth, highlighting a structural shift in consumer behaviour. To counter this trend, restaurant operators have increa...
Retirement fund body EPFO has extended the deadline for filing applications to opt for a higher pension till July 11.
This is the second extension of the deadline for applying for a higher pension. Earlier, it was extended from May 3, 2023, to June 26, 2023. The last opportunity of 15 days is being given to remove any difficulty faced by the eligible pensioners/ members, the Employees' Provident Fund Organisation said in a statement.
"Accordingly, the last date for submission of Applications for Validation of Option/ Joint Options by employees is extended to July 11, 2023," it added.
"Online facility has been made available by EPFO for submitting Applications for Validation of Options/Joint Options for pension on higher wages. The facility is for eligible pensioners/members in compliance with the Hon'ble Supreme Court order dated November 04, 2022," the statement said.
"Timeline for applying for higher pension has been extended by 3 months for the employer and 15 days for the employee (member)," Raghunathan KE, Member representing Employers, Central Board of Trustees, EPFO, told PTI.
A lot of verification needs to be done as these are involving financial transactions, he added.
"We are happy and complement EPFO for three months time for employers and also 15 days for employees. EPFO once again proves to be considerate and compassionate to field issues," he said. Any eligible pensioner/member who on account of any issue in the updation of KYC, faces difficulty in submitting an online application for validation of option / joint option, may immediately lodge such grievance on EPFiGMS for resolution, as per the statement.
"The grievance may please be submitted by selecting the grievance category of 'Higher Pensionary benefits on higher wages'. This will ensure proper record of such a grievance for further action," it added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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