Wouldn't it be better to reach 45 with a backup engine of passive income that helps you glide through these years instead of grinding, asks Ramalingam Kalirajan
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Retirement fund body EPFO fixed 8.15 per cent rate of interest on employees' provident fund (EPF) deposits for 2022-23 at its meeting on Tuesday. In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21. This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.
Before opting for this scheme, consider how EPS is calculated.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
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'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
Subscribers of the retirement fund body EPFO may soon be able to withdraw claim amounts from their accounts through ATMs, a top official said. Union Labour Secretary Sumita Dawra has reportedly said that the labour ministry is upgrading information technology infrastructure to provide enhanced services to the Indian workforce.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
The number of monthly fresh formal hirings saw a slowdown in August, signalling a downturn in the formal labour market. In August, the number of new monthly subscribers under the Employees' Provident Fund (EPF) decreased by nearly 11 per cent to 930,000. This is a four-month low from 1.05 million in July, according to the latest monthly payroll data released by the Employees' Provident Fund Organisation (EPFO) on Sunday.
EPF allows partial withdrawal to meet situations like house construction, medical emergency, and so on.
The police went to Robin Uthappa's house to issue a notice. Since he does not reside at that address at present, a warrant has been executed for the former cricketer.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
ELSS investments require a long-term commitment of at least seven years.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The answer depends on your financial goals and risk appetite, says Certified Financial Planner Ramalingam Kalirajan, and explains why.
The government has approved 8.1 per cent rate of interest on employees' provident fund (EPF) deposits for 2021-22 -- an over four-decade low -- for about five crore subscribers of retirement fund body EPFO. Earlier in March this year, the Employees' Provident Fund Organisation (EPFO) had decided to lower the interest on provident fund deposits for 2021-22 to 8.1 per cent from 8.5 per cent provided in 2020-21. According to an EPFO office order issued on Friday and reviewed by PTI, the Ministry of Labour and Employment has conveyed approval of the central government to credit 8.1 per cent rate of interest for 2021-22 to each member of the EPF scheme.
Employees Provident Fund Organisation (EPFO) will migrate to a new information technology (IT) system within the next three months, Union labour minister Mansukh Mandaviya said on Wednesday. In July last year, a clutch of officers at the retirement fund body had written a letter to the Central government complaining about archaic and "collapsing" software systems. Subscribers too were facing problems due to it.
The number of fresh formal jobs generated in a month increased to a seven-month high in April, signalling a recovery in the formal labour market in the country, according to the latest monthly payroll data released by the Employees' Provident Fund Organisation (EPFO) on Thursday. In April, the number of new monthly subscribers under the Employees' Provident Fund (EPF) sequentially increased by 18.77 per cent to 887,438 from 747,146 in March.
'This year overall hiring has seen a slight improvement as compared to the dip seen during the last financial year.'
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
If someone does reduce his contribution, he should scale it back to the 12% level as soon as he can, suggests Sanjay Kumar Singh.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
If a risk taker and young, NPS would suit her/him. Otherwise, s/he should go for EPF.
Taxation has played spoilsport despite double digit returns.
The government has approved 8.5 per cent rate of interest on employees' provident fund for the 2020-21 fiscal, a source said. Just ahead of Diwali, this is a good news for over five crore subscribers of the Employees Provident Fund Organisation (EPFO). The 8.5 per cent rate of interest on provident fund deposits for the last financial year was decided by the EPFO's apex decision making body Central Board of Trustees (CBT) headed by Labour Minister in March this year.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Now that the National Pension Scheme offers more choices than the Employees Provident Fund, is more transparent and also allows to choose the level of allocation to equities as investors like, should one switch to the NPS?
A six-point comparison by Anil Chopra, Group CEO & Director, Bajaj Capital
EPFO may start investing up to five per cent of its incremental corpus in the equity market.
Invest in MFs for liquidity and choice of funds. Invest in NPS for the tax benefits, tax-free rebalancing, and for earmarked savings for retirement.
Building your Retirement Nidhi is your Karmayoga, ensuring a Golden Yug where you can truly enjoy the fruits of your labour, says Vatsal Ramaiya as he explains how Rs 15,000 per month can help build a Rs 7 crore corpus.
This decision would pave the way for crediting Rs 54,000 crore as 8.65 per cent interest for 2018-19, into the accounts of more than 6 crore EPFO subscribers.
According to the EPFO estimates, there would be a surplus of Rs 151.67 crore after providing 8.65 per cent rate of interest for 2018-19 on EPF.
Use a combination of the two options without which sufficient corpus can't be assured.
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