The Tata group will fund new political entrant Aam Aadmi Party based only on its performance in the upcoming general elections and not before.
'If you consider only demonetisation and GST as my government's work, it will be a big injustice to me.'
The monopoly of the state-owned State Bank of India in managing provident fund totalling about Rs 2.5 lakh crore (Rs 2.5 trillion) on Tuesday ended with government allowing three private players including ICICI and HSBC a piece of the cake.
Salaried employees get several benefits under Sections 80C, 80D, 80G and others.
The statement comes in the wake of two independent members of the NSC, P C Mohanan and J V Meenakshi, quitting the Commission over disagreements with the government on the back-series GDP data and delay in release of labour force survey. Mohanan was also the acting chairperson of the Commission.
The government has deferred the decision on fixing the Employees' Provident Fund (EPF) rate of interest for the current fiscal till the next meeting of the Employees' Provident Fund Organisation.
As general elections draw closer, at least five large corporate houses including those of Ambanis, Mittals and Birlas, have set up 'Electoral Trusts' for providing funds to political parties.
ELSS, or tax savings funds, are diversified equity funds that offer a benefit under Section 80C. Here's how to make sure you invest smartly.
The bill to amend payment of gratuity Act in order to double the ceiling of tax-free gratuity to Rs 20 lakh, would soon be placed before the Union Cabinet for approval.
As beneficiaries under Pradhan Mantri Rojgar Protsahan Yojna have to be EPF subscribers, these numbers indicate that the increase in EPFO payroll estimates is largely due to an increase in the beneficiaries registered under PMRPY.
The policy aims to create around 5,000 startups, including 10 global high-growth startups, and to create a minimum of 100,000 high skilled job creation, direct and indirect, in the startup ecosystem by 2023.
Some unions have opposed EPFO investing in share markets.
AUM had touched a record level of Rs 9.58 lakh crore in August last year.
Given its features as a retirement product (long lock-in and compulsory annuitisation), investors should have other investments they can fall back on in case they need funds
Employees' Provident Fund Organisation has been allowing members to contribute more than mandatory amount towards their pension account.
The Public Provident Fund and National Savings Certificate are the most popular tax-saving investments. But which one scores better when it comes to saving more tax or getting better returns?
When the state is unable to provide adequately for the bottom half of the population, should it be giving tax benefits to the well-off?
As many as 26 forms under pension rules have been reviewed and modified where necessary.
In May, EPFO received deposits of Rs 6,500 crores (Rs 65 billion) which, is 200 crores more than what was received in April this year.
The completely avoidable mess that the finance ministry found itself in was rather surprising, says Debashis Basu.
The Public Provident Fund, or PPF, tends to put people off because of the lengthy tenure of the instrument. But its benefits make a compelling case.
Even investors with sums as low as Rs 1,000 per month can start their investment journey.
The Finance Audit and Investment committee recommended 8.95% interest.
The central government has notified the Employees Provident Fund (EPF) rate of interest at 8.5 per cent for 2006-07. The Central Board of Trustees (CBT) of EPF, in July, had recommended interest at 8.5 per cent. The government has now accorded its approval to notify the specified rate of interest for the year.
The addition in January was 131 per cent higher as compared with 3.87 lakh EPFO subscribers added in the year-ago month.
'The stimulus message was tagged on to what was meant to be an exhortation to self-reliance, glossing over the near impossibility of merging the immediate requirement of relief for a huge population and a questionable strategy for the future trajectory of a large economy aspiring to superstardom,' points out Shreekant Sambrani.
The BJP hit back accusing the Congress of drawing the issue into political arena.
According to draft Code on Social Security, 2019, gig and platform workers will be entitled to life and disability cover, health and maternity benefits, among others.
'If you retain your account with the EPFO for 10 years, you get a life-long pension.'
As long as a provident fund continues to be exempt from tax at all stages, it is the best option to build a retirement corpus.
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
Some members raised questions like that even government establishments were employing only contract labour.
The order also provides that the field office will incur expenditure on the facilitation function under the head of publicity.
Bowing to pressure from Left- backed trade unions, the Employees Provident Fund Board agreed on Monday to continue paying 8.5 per cent interest rate to its nearly 4 crore subscribers for fiscal 2006-07 as well.
Premature closure shall be allowed only after the account has completed five financial years.
The Finance Ministry has been pitching for EPFO funds to be invested in the equity markets to maximise their yields.
Finance Minister Arun Jaitley on Monday did not change tax slabs but offered a relief of Rs 3,000 to the salaried with income below Rs 5 lakh per year.
The rates of interest on various small savings schemes for the third quarter of financial year 2018-19, starting October 1 and ending on December 31, 2018, has been revised, the finance ministry said while notifying the rates.
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