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.
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
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.
Tax deductions and prioritising their sequence will help you streamline your investments for efficient tax saving.
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.
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.
'There is still scope for selective stockpicking.'
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.
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.
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.
Want your investments to make money as well as save tax for you? Anil Rego has some advice
Retirement fund body EPFO on Monday is likely to retain 8.5 per cent interest on PF deposits for its over 5 crore subscribers in 2013-14.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
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.
Business Processing Outsourcing (BPO) and Knowledge processing Outsourcing (KPO) firms are covered by the retirement fund body EPFO, Parliament was informed.
The funds earmarked for other goals of lower priority, like holidays, holiday home, vacation abroad and so on should be used - not the retirement corpus.
Come March 2013, salaried employees will be able to switch jobs, without worrying about withdrawing or transferring their savings with the Employees Provident Fund Organisation (EPFO).
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.
The Employee Provident Fund (EPF) contribution should no longer be restricted to 12% of basic and dearness allowance, according to a recent circular.
Steps like depositing the entire PPF amount before April 5 or preparing a household budget will ensure this financial year goes well.
Retirement fund body EPFO's apex decision making body Central Board of Trustees (CBT) is likely to decide rate of interest on PF deposits for 2012-13 in its meeting scheduled on January 15.
These plans aren't likely to put substantial cash in your hands.
Reaching out to the working class, especially in the unorganised sector, the government rolled out several measures in 2011, raising minimum daily wages, enlarging health insurance coverage and also notifying Majithia Wage Board recommendations for newspaper and news agency employees.
Notices have been issued to the company for penal damages.
PFRDA will invite bids to appoint pension fund managers.
No physical inspection of company records; compliance ops to be online
Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
Leading up to the International Women's Day on March 8, this is the first of a four-part series that talks about how women can invest to achieve their long-term financial goals.
'If you retain your account with the EPFO for 10 years, you get a life-long pension.'
Employees joining companies after August and availing of the government benefits under the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) will also have to link their PF accounts with Aadhaar numbers.
Electricity tariffs to go up as coal cess is doubled.
