Latest news with #WSS
The Irish Sun
12-06-2025
- Business
- The Irish Sun
Six new social welfare changes to little-known €245 weekly payment – are you eligible?
SIX changes to a little-known social welfare payment worth €245 each week have been confirmed. The upcoming Advertisement 3 The scheme is designed to support more disabled people into employment Credit: Getty 3 Minister for Social Protection Dara Calleary, Minister of State in attendance Hildegarde Naughton, Taoiseach Micheal Martin and Minister for Children, Disability and Equality Norma Foley Credit: Niall Carson/PA Wire The Wage Subsidy Scheme gives financial support to employers who employ people with disabilities. The scheme is designed to support more disabled people into employment. The changes announced are a result of the recommendations from a review of the WSS, which was carried out by the Department of Social Protection in August 2024. Advertisement Read more in Money The employer will pay the employee the going rate for the job. And the basic rate of subsidy is €6.30 per hour with the maximum annual subsidy to the employer of €12,776, based on a 39-hour week. And this equals around €245.69 each week. The employee must work at least 15 hours a week. Advertisement MOST READ IN MONEY Speaking at the event last week, the Taoiseach said: "I am delighted to launch these improvements to the Wage Subsidy Scheme. Little known social welfare benefits thousands are entitled to "Supports like this play not only a critical role in closing the employment gap for people with disabilities, reducing poverty and supporting families and communities, but also for employers in bringing new ideas, skills and knowledge to their businesses. "I am committed to advancing the rights and improving the lives of people with disabilities including through removing barriers to employment. "Supports such as this revised Wage Subsidy Scheme recognise that the perspective, talents, and contributions of people with disabilities across society add immeasurably to the quality, the richness and the diversity of all our lives." Advertisement SIX NEW CHANGES TO WSS THE reformed scheme now implements the six recommendations made in the review: Reduce the minimum required hours for the scheme. The minimum hours requirement to avail of the subsidy has been reduced from 21 hours to 15 hours to enable those with more limited work capacity to be included. Remove the term 'productivity deficit' from the scheme. The scheme no longer focuses on a productivity deficit but on the need to adapt the role to a disabled person's ability. Expand the scheme beyond recruitment to include retention of people returning to work. This is particularly important as most disabilities are acquired. People who return to work on Partial Capacity Benefit and who have acquired their disability or health condition in the previous 12 months are now eligible. Expand the scheme to the community and voluntary sector and commercial state-sponsored sector. This will increase employment opportunities for disabled people by expanding the scheme beyond private sector employers to all non-public sector employers. Review the subsidy rate on a regular basis. This will ensure that the subsidy continues to sufficiently support employers. The subsidy rate will be reviewed at least every three years. Promote and improve knowledge of the scheme. The Minister has today launched a nationwide publicity campaign for the Wage Subsidy Scheme to promote and improve knowledge of the scheme. Minister Calleary added: "I strongly encourage employers to consider how the Wage Subsidy Scheme can improve their business and offer substantial and sustainable employment to disabled people." "I believe that the changes made to the Wage Subsidy Scheme will make it more accessible and flexible for both employers and disabled people. "People with disabilities have the talents and skills that employers need. "Improving employment prospects for disabled people is an absolute priority for me, the Taoiseach and this government." Advertisement There are around 1,500 employers who are already taking part in the Wage Subsidy Scheme across the country. WHO IS ELIGIBLE FOR WSS? You must be at least 18 years of age to participate in the WSS and you cannot take part if you are eligible to apply for the State Pension. The scheme is not available to self-employed people, people on the Community Employment scheme, Tús, or the Rural Social Scheme, or those who are on the Work Placement Experience Programme. You can qualify for the WSS without a medical assessment if you are getting one of the following disability payments: Advertisement Disability Allowance Blind Pension Disablement Pension - at 20 per cent or more for life Illness Benefit Invalidity Pension If you are not getting a disability payment, you can still apply for the WSS. To apply, you need a recent specialist's report or doctor's letter confirming your disability. Your doctor must also fill out a confidential medical report form confirming that you have a disability which will reduce your ability to work. Minister for Advertisement "There is so much potential and talent that can be tapped into. "I hope these improvements to the scheme will encourage more employers to become involved and provide real opportunities for people with disabilities to showcase their talents and abilities.' 3 Taoiseach Micheal Martin and the Minister for Social Protection Dara Calleary last week announced the expansion of the scheme Credit:
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Business Standard
05-06-2025
- Business
- Business Standard
Rites share price gains 12% in two days; what's driving investor interest?
Rites share price gained 7 per cent in trade on Thursday, June 5, 2025, logging a day's high at ₹316.15 per share on BSE. The stock gained nearly 12 per cent in two days after the company emerged as lowest bidder (L-1) in the financial bid of the QCBS tender floated by Gujarat Urban Development Company. At 12:09 PM, Rites shares were trading 4.99 per cent higher at ₹310.15 per share on the BSE. In comparison, the BSE Sensex was up 0.81 per cent at 81,656.47. The market capitalisation of the company stood at ₹14,932.36 crore. The 52-week high of the stock was at ₹398.5 per share and the 52-week low of the stock was at ₹192.3 per share. In the past one year, Rites shares have lost 3 per cent as compared to Sensex's rise of around 9 per cent. Why were Rites shares in demand? On Tuesday, after market hours, the company informed investors that it has emerged a L1 bidder for appointment of TPI agency for water supply scheme, underground drainage and sewage treatment plant projects for urban local bodies of Gujarat. The order was worth ₹28.5 crore (exclusive of GST) and has to be executed within 60 months. The order is subject to award after the due process of scrutiny and overall evaluation (technical and financial) by the Gujarat Urban Development Company as per the requisite requirements mentioned in the tender documents. "We are pleased to inform you that Rites is the lowest bidder (L-1) in the financial bid of the QCBS tender floated by Gujarat Urban Development Company Limited for 'Appointment of TPI agency for WSS/UGD/STP projects under Amrut 2.0/SJMMSVY under GUDC for ULBs of Gujarat', the filing read. ALSO READ | About Rites Rites Limited, a Navratna Enterprise under the Ministry of Railways, incorporated on April 26, 1974, is a multidisciplinary engineering and consultancy organisation, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies. The company's market capitalisation has placed it among the top 500 listed companies in India, a testament to the high-quality solutions and services it delivers, driven by its talented pool of professionals.
Business Standard
03-06-2025
- Business
- Business Standard
RITES emerges as L-1 bidder for tender floated by Gujarat Urban Development Company
RITES said that it has emerged as the lowest bidder (L-1) in a quality-cum-cost based selection (QCBS) tender floated by Gujarat Urban Development Company (GUDCL) for a project worth Rs 28.50 crore. The tender is for the appointment of a Third-Party Inspection (TPI) agency for Water Supply, Underground Drainage, and Sewage Treatment Plant (WSS/UGD/STP) projects under the Amrut 2.0/SJMMSVY schemes, managed by GUDC for Urban Local Bodies (ULBs) of Gujarat. This project is slated for completion within 60 months from the date of the letter of award (LoA) or Notice to Proceed (NTP). The order is subject to award after the due process of scrutiny and overall evaluation (technical and financial) by the Gujarat Urban Development Company Limited as per the requisite requirements mentioned in the tender documents, RITES said in a statement. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31 March 2025, the Government of India held 72.20% stake in the company. The companys consolidated net profit jumped 29.19% to Rs 141.33 crore in Q4 FY25 as against Rs 109.39 crore posted in Q3 FY25. Revenue from operations rose 6.89% to Rs 615.43 crore in the quarter ended 31 March 2025 from Rs 575.76 crore posted in Q3 FY25. The scrip rose 0.91% to currently trade at Rs 281.70 on the BSE.
Business Standard
03-06-2025
- Business
- Business Standard
RITES emerges L1 bidder for a Gujarat Urban Development Company project
RITES is the lowest bidder (L-1) in the financial bid of the QCBS tender floated by Gujarat Urban Development Company for Appointment of TPI agency for WSS/UGD/STP projects under Amrut 2.0/SJMMSVY under GUDC for ULBs of Gujarat. The order is subject to award after the due process of scrutiny and overall evaluation (technical and financial) by the Gujarat Urban Development Company as per the requisite requirements mentioned in the tender documents. The estimated value of the bid is Rs. 28.50 crore excluding GST.
Scoop
19-05-2025
- Business
- Scoop
Auckland Man Guilty In Serious Fraud Office Prosecution Over Attempted Multi-million Dollar Covid-19 Fraud
Press Release – Serious Fraud Office An Auckland man who tried to fraudulently claim millions of dollars through the Covid-19 wage subsidy scheme (WSS) and other government support schemes has been found guilty following a trial on charges brought by the Serious Fraud Office (SFO). Hun Min Im faced 91 charges related to his attempts to claim $1.88 million from the WSS, as well as from the Small Business Cashflow Scheme, COVID-19 Support Payments and Resurgence Support Payments. In total he attempted to claim $2.3 million and received almost $624,000. On Friday Mr Im was found guilty of 18 charges of obtaining by deception, and 16 charges of using a forged document. Just prior to the end of his trial, which concluded at the Auckland District Court on 13 May, Mr Im pleaded guilty to 54 charges of dishonestly using a document. Three obtaining by deception charges are yet to be determined. Mr Im submitted 42 WSS applications on behalf of eight companies and four sole traders, none of which were trading in New Zealand or had any staff. He forged signatures and used forged documents when incorporating companies, filed GST returns to claim refunds his companies were not entitled to, and sought a further $172,800 in Covid-19 subsidies from Inland Revenue that he was not entitled to. 'Mr Im's offending was deliberate and wide-reaching,' says SFO Director Karen Chang. 'He created a complex web of fake companies and forged documents which our expert teams spent many hours piecing together. He stole the personal information of his tenants and applicants who responded to fake job ads he placed online, to use as shareholders, directors and employees in his companies. 'Mr Im took advantage of public money that was intended to support people and businesses during a time of significant stress and uncertainty. Any money he received was used to fund his personal lifestyle, including an apartment and luxury vehicle.' Misappropriation of targeted Government funding is a key focus area for the SFO, particularly in times of emergency recovery. During such times the focus is on getting help to those who need it most, as quickly as possible. This urgency can create opportunities for those looking to exploit relief programmes. This case was referred to the SFO by the Ministry of Social Development (MSD) following its own initial investigations. Further work alerted SFO to possible fraudulent activity against other Government organisations. Ms Chang says, 'We want to recognise the cooperation and support provided by Inland Revenue, Police and the Companies Office to our investigation. This includes the Police Asset Recovery Unit, which restrained a property and vehicle following a referral from the SFO. The investigation was a great example of agencies working together to investigate abuse of public funds.' The SFO's Counter Fraud Centre (CFC) works closely with the public sector to support efforts to build resilience to fraud and ensure controls are in place to protect public funds. Last year the CFC released a new guide to Managing Fraud During Emergency Relief and Recovery which offers practical tools and principles to safeguard critical funding in times of crisis.
