Over 10 lakh workers who quit or lost jobs so far this fiscal got a major relief on Monday with the government taking a decision to pay 8.5 per cent interest on employees provident fund.
Use a combination of the two options without which sufficient corpus can't be assured.
Amidst reports of a cut in interest rate on Employees Provident Fund, Labour Minister Sis Ram Ola on Thursday said he will meet Finance Minister P Chidambaram to decide on the returns for the over 32 million subscribers for this year.
'The fiscal situation is stressed (when is it not?!), economic growth has slowed, tax revenue has fallen short and the deficit is high if it is properly accounted,' points out T N Ninan.
There are reasons to limit your exposure, even with the rise in rates of small savings schemes.
Insurance firms have designed amazing retirment plans to lure more customers.
Here are the key highlights of the Interim Budget 2019-20 presented by Finance Minister Piyush Goyal in the Lok Sabha on Friday.
Following the footsteps of the Central Board of Direct Taxes, the Employees Provident Fund Organisation has entrusted the UTI Investor Services with the job of creating the required infrastructure for issuing its much-bragged social security number.
The EPFO launched one-page simplified forms for withdrawal.
In the face of mounting pressure from trade unions, the Employees Provident Fund rates may remain untouched at 9.5 per cent this year though a sub-committee of the EPF Board is believed to have recommended slashing it to eight per cent.
Particularly hit has been the apparel sector, where the time taken by the industry to adjust to the Goods and Services Tax regime, downward revision of export incentives, and a credit squeeze faced by small and medium scale enterprises, has pushed production downwards.
Provident fund body may get support to ensure interest rate comparable with other savings instruments.
The 15% invested every month in equity would be allotted to subscribers in the form of units.
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Fund managers will be given more flexibility to invest in corporate bonds.
Individual banks should break away from the industry pact and have their own settlements with the unions, recommends Tamal Bandyopadhyay.
The Employees Provident Fund Organisation had paid 9.5 per cent interest in 2010-11, before scaling it down to 8.25 per cent in 2011-12 fiscal.
With an incident of rats nibbling at a paralytic patient in a Rajasthan hospital coming to light, Health Minister Ghulam Nabi Azad on Thursday put the onus on state government for ensuring proper treatment to patients.
With an incident of rats nibbling at a paralytic patient in a Rajasthan hospital coming to light, Health Minister Ghulam Nabi Azad on Thursday put the onus on state government for ensuring proper treatment to patients.
'You cannot start an MSME again.' 'It is not like a Yes Bank that someone comes and saves the bank.' Once the shutter is down for an MSME, nobody will come to its rescue.'
Want your investments to make money as well as save tax for you? Anil Rego has some advice
The 4.7 crore (47 million) EPFO subscribers were left guessing during the year on continuance of 9.5 per cent interest rate for this fiscal, with the retirement fund body, in an unprecedented development, deciding to refer it to the finance ministry for a final decision.
Around 61 million subscribers of the Employees Provident Fund Organisation (EPFO) are likely to get lower returns on their deposits this year.
Some basic facts about PPF and also what makes it an extremely attractive investment option.
No physical inspection of company records; compliance ops to be online
India's biggest state-run pension fund, the Employees Provident Fund, will aim to keep interest rate returns high, Labour Minister Sahib Singh said on Friday, despite an overall easier monetary climate.\n\n
Taking the first step towards launch of online PF transfer claim facilities, retirement fund body EPFO has unveiled the revised transfer claim form for the purpose.
Today, money is pouring into government saving schemes on the premise that the return is being guaranteed by the Government of India. But is the chance of default really zero?
The Union Labour Minister Sahib Singh Verma said on Friday that he would soon make public the names and other details of the major provident fund defaulters.
Creating a strong corpus through equity will reduce later need for debt to make big purchases.
Last month, the Employees' Provident Fund Organisation had brought down the rate of interest to 8.25 per cent for 2011-12 from 9.5 per cent provided in 2010-11, evoking sharp criticism within and outside Parliament.
EPFO's Central Provident Fund Commissioner K K Jalan has said that these directives shall help the body in getting the bank account details of all the members which are necessary for making UAN operational.
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