Trustees of the employees provident fund, which has a corpus of about Rs 1,30,000 crore (Rs 1300 billion), has decided against investing a portion of its assets in mutual funds and stock markets.
With the finance ministry refusing to hike rates of Special Deposit Schemes and allow it to park funds in high interest bearing postal deposits, the Employees Provident Fund Organisation is toying with the idea of trading in government securities as
Finance Minister Pranab Mukherjee will soon give the green signal to the payment of 9.5 per cent interest rate on provident fund deposits during 2010-11, a senior government official said on Tuesday.
The government has brought in changes to the investment pattern for non-government provident funds, and superannuation and gratuity funds, enabling them to invest up to 5 per cent in the units of Category I and Category II alternative investment funds (AIFs), subject to some caveats. The development is part of the central government's strategy to channelise domestic savings and improve their returns to attract more investment in the said sectors. At present, these funds typically invest a minimum 45 per cent in government securities, besides new instruments, such as exchange-traded funds and real estate investment funds, while a portion in equity-related instruments.
During 2019-20, the number of net new subscribers rose to 78.58 lakh as compared to 61.12 lakh in the preceding fiscal.
Nikunj Saraf, Vice President Choice Wealth, will answers your queries.
Rediff reader Anjum Parwej, 52 from Indore shares his story.
About 25-30% of total units launched are unsold across country.
The department has joined hands with BSNL and Pantel Technologies.
HR Guru Mayank Rautela offers practical advice.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
EPF allows partial withdrawal to meet situations like house construction, medical emergency, and so on.
The CFO will formulate the accounting policy of the bank, maintain the internal accounts and report financial results, and carry out corporate strategy functions like PF policies.
'A total overall of the existing way of working by abolishing taxes and allowing citizens to help themselves without any government bottlenecks and impediments,' observes Rahul Mishra.
The 93-year-old autocrat is yet to resign and was said to be 'buying time' to negotiate an end to his 37-year-long reign.
The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Rediff reader Rajeev Mehta, 55 from Chandigarh tells us about his first job and salary.
In an era of falling interest rates, major trade unions on Friday pitched for restoring 12 per cent return on small savings schemes
Anil Rego, CEO of RightHorizons, will answer your financial planning queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
HR Guru Mayank Rautela offers practical advice.
The tax rate rises to 10 per cent, 15, per cent, 20 per cent and 25 per cent for every Rs 2.5 lakh addition. A 30 per cent tax is charged for income over Rs 15 lakh.
In an online chat with Rediff.com readers, personal finance expert Anil Rego answered queries about the new tax regime announced in the Union Budget.
In an online chat with Rediff.com readers, G Srikanth, partner, GSV Associates, chartered accountants, Chennai and member of the Institute of Cost and Management Accountants, answered queries about the new income tax proposals mooted in the Union Budget 2020-2021.
An employee should always keep his bank account active inorder to claim PPF after he joins a new office.
The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling.
The second edition of the Virat Kohli-backed Indian Sports Honours were held on Friday in Mumbai where the top performers in 17 sporting disciplines were felicitated.
Did you know that your EPF contribution also goes towards insuring you, giving you and your spouse a pension apart from giving you a lump sum amount after retirement?
Last week, the Ministry of Labour and Employment suspended the second in command in EPFO's Hyderabad office.
FM's proposal came under immediate attack from various employees unions
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Private firms will have to maintain a minimum net addition to their workforce each month from October this year to June 2021 to get the Employees' Provident Fund subsidy for the new recruits.
