Meet a Mumbai couple whose hearts are so big that they emptied out their entire savings to help feed the poor and needy during the COVID-19 pandemic.
The Committee, which has been set up in pursuance of the announcement made by the Minister in his Budget speech, will also suggest whether the unclaimed deposit should come to government or be kept in a separate account.
'Providing funds and autonomy to a few institutions that may not have the intent to excel must not become a case of trying to feed those who are not hungry and starving those who are famished,' says Jitendra Kumar Das, Director, FORE School of Management, New Delhi.
Days ahead of the Budget, Reserve Bank Governor Raghuram Rajan on Wednesday pitched for increasing the tax exemption limit on financial investments by individuals from Rs 1.5 lakh a year.
Reserve Bank of India Governor Raghuram Rajan, who will present his maiden policy on September 20, held discussions on Tuesday with Prime Minister Manmohan Singh and Finance Minister P Chidambaram on the macro-economic situation.
With EPFO capping the contributions to your pension scheme, you could look at other pension plans.
Besides managing retirement funds, EPFO may come out with a scheme to provide housing to its over 5 crore (50 million) subscribers on additional contribution of 10 per cent by them from their basic wages every month.
Tax deductions and prioritising their sequence will help you streamline your investments for efficient tax saving.
Business Processing Outsourcing (BPO) and Knowledge processing Outsourcing (KPO) firms are covered by the retirement fund body EPFO, Parliament was informed.
He said unwarranted rumour-mongering, speculation, and bear hammering of all Reliance Group companies shares over the last few weeks had caused grave damage to all our stakeholders.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
'The workers's dance of wilful destruction has the potential to kill all investments planned in India by any foreign entity,' argues Dr Sudhir Bisht.
Investors must explore alternate avenues like mutual funds and pension plans for building a retirement corpus.
Experts say it's better to transfer the amount to one's current EPFO account than opting for a withdrawal.
The grouping, which is called Co-Impact, has been set up with an initial corpus of $500 million and will focus providing healthcare, education, and economic opportunity to the underserved populus in developing countries.
Some cases are pending for two years.
The the scheme has a subscriber base of 35 million.
The Employees Provident Fund Organisation's apex decision making body, the Central Board of Trustee on February 25 had decided to pay 8.5 per cent rate of interest to subscribers for 2012-13.
An FIR has been filed against Trinamool Congress Rajya Sabha Member of Parliament Kunal Ghosh, Saradha Group chairman Sudipta Sen and six others for non-payment of salaries to employees of a television channel run by the chit fund company.
'MFs have a combined exposure of Rs 3.2 lakh crore to NBFCs, out of which Rs 1.1 lakh crore matures by September 2019.'
Now, the commission will be between zero per cent to 0.5 per cent.
After complaints that the new law may impact employment of women, the government has framed a scheme to provide monetary incentive to companies, reports Somesh Jha.
Assume the worst regarding how long your unemployment could last and make conserving cash your topmost priority, suggests Sanjay Kumar Singh.
Prime Minister Manmohan Singh says a higher interest rate on Employees Provident Fund would depend on whether the Employees Provident Fund Organisation could afford a higher payout.
Retirement fund body EPFO's trustees on February 5 will decide on amending its scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit its 27 lakh pensioners.
The argument put forth is that withdrawals from a long-term investment avenue leave investors with a lower corpus on retirement.
Though he loves gambling, he cautions against undue risks and says non-professional investors like the salaried class should invest through the mutual funds route and keep aside not more than 10 per cent for self-investing.
The organisation can invest in bonds of private companies with dual 'AAA' rating, say new norms.
It has initiated efforts to get full details only now.
The much-awaited minimum monthly pension of Rs 1,000 and a higher wage ceiling of Rs 15,000 for social security schemes run by retirement fund manager EPFO will be implemented from September 1.
FM hiked the limit for investors to invest in RGESS to Rs 12 lakh from Rs 10 lakh.
In 2006, FM made it mandatory for all private PF Trusts to seek exemption certificates.
The National Social Security Number will be issued to the 4 crore (40 million) members covered by the scheme on the lines of the Permanent Account Number (PAN) given by the income tax department.
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