Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Withdrawing the amount each time you move job(s), or otherwise, can make a huge dent in your retirement corpus.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Net job creation in the economy fell by 16.9 lakh in FY21 over the previous fiscal, shows an SBI Research analysis of EPFO payroll data. However, the FY21 numbers are better than the FY20 net job creation, which had declined by 28.9 lakh, further cementing the view that the economy is not creating new employment opportunities. The latest EPFO data shows that net new EPF subscribers stood at 94.5 lakh in FY21, and NPS added 5.82 lakh, taking the cumulative net addition to 100.4 lakh, which is marginally down from 102.3 lakh in FY20.
For longer tenure products, they offer higher returns compared to other instruments. But for shorter tenures, things are getting tighter for investors.
The Centre might consider the Left parties' demand for increasing the Employee Provident Fund rate to 9.5 per cent from the present 8.5 per cent and a decision on the issue is expected after Prime Minister Manmohan Singh returns from The Hague.
Religious institutions and charitable trusts employing 20 workers or more will have to deposit employees' provident fund with the EPFO.
Supporting the striking truck operators, the National Democratic Alliance on Wednesday asked the government to withdraw the proposed service tax on transport booking agents.
Leaders of major central trade unions on Wednesday made a strong demand before Prime Minister Manmohan Singh for restoring the interest rate on Employees Provident Fund to 12 per cent
The EPF Board on Saturday failed to clinch the contentious issue of interest rate for the current fiscal for its four crore subscribers and rejected finance ministry's proposal to invest 5 per cent of the EPF money in the equity market.
The Labour and Employment Ministry has requested the Finance Ministry to keep Employee State Insurance and Employee State Insurance schemes out of the ambit of service tax as they are social security schemes.
The deduction will be higher and net take-home pay will fall.
Labour Minister Sahib Singh Verma said on Monday that he will try to maintain the present interest rate of 9.5 per cent on Employees Provident Fund for 2003-04.
The government will decide the interest rate on the country's largest pension fund scheme based on the rate of return on investments in the next financial year, Labour Minister Sahib Singh Verma said on Tuesday.
Those willing to take a higher risk for higher returns can look at AAA-rated non-convertible debentures from reputed issuers.
Unhappy over several decisions of the government, major trade unions and independent federations will observe a nationwide protest day tomorrow
When the sun rises in 2022, the Indian hospitality industry will be waking up with prayers for survival, desperately looking forward to some form of support from the government as revival from the impact of the coronavirus pandemic of the last two years will be an arduous journey. Just as the industry was beginning to see a flickering light at the end of a long tunnel towards the end of 2021, the spread of the Omicron variant of coronavirus and subsequent extension of suspension of scheduled international passenger flights till January 31, 2022, has come as a dampener to those who were looking to have some business in the winter season. With inbound tourist arrivals unlikely amidst the pandemic, the industry wants the government to incentivise domestic travels with income tax benefits for a limited period so as to help the hospitality and tourism sector get up again by tapping the pent up demand for holidays, within the country.
Working hours cannot go beyond 48. Those who give a four-day week will have to provide three consecutive holidays after that.
While the lockdown hit employment in all age groups, it hit the employment of youngsters who are less than 29 years of age much more. The lockdown also hit women more than it has affected men, reveals Mahesh Vyas.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The financial fraud, one of the biggest in the state as per records, was being investigated by the different departments of Himachal Pradesh for the past over four years.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The new form does not require attestation by employer and can be submitted directly to the concerned EPFO offices
Unlike the first two stimulus packages, this time the focus would be on boosting demand.
Once the new rules kick in, you will have less cash-in-hand and may feel tempted to scale back on savings and investments.
The independent institute advising the PM on jobs seems to have missed the point that the challenge is to create net additional jobs, says Mahesh Vyas.
'There is still scope for selective stockpicking.'
Concerned by the continuous downward revision in the monthly net enrolment numbers, the EPFO has begun counting people quitting their previous jobs and joining a new one as an addition to the net payroll. According to experts these people cannot be counted as those who got a new job.
Your provident fund statement reveals the progress of your retirement savings
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
At present, the EPFO is mandated to invest 20-45 per cent of its incremental funds - of around Rs 1.5 trillion - in debt-related instruments.
Under increasing pressure to cut interest rates on Employees Provident Fund, the labour ministry is expected to meet the Reserve Bank of India brass in a bid to retain the current rate of 9.5 per cent.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Trustees of Retirement fund body EPFO will decide tomorrow on amending the scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit about its 28 lakh pensioners.
Tax deductions and prioritising their sequence will help you streamline your investments for efficient tax saving.
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.
The government will soon issue guidelines for regulation of OTT (over the top) platforms that will address issues such as sensitive content, the Rajya Sabha was informed on Tuesday.
Want your investments to make money as well as save tax for you? Anil Rego has some advice
The Left parties on Tuesday lashed out at the UPA government equating it with the previous NDA regime for reducing the EPF interest rate and demanded reconsideration of the decision.
