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With Income Tax Act 2025 in force, your tax choice can quietly cost you big money if you're not paying attention. Ramalingam Kalirajan explains how
'The tragedy underscored 'serious and widespread' weaknesses in the EPFO's monitoring system and its ability to detect and act against defaulting establishments.'
Let's decode how EPS works, who qualifies, and how pensions are calculated, using simple examples for different salary levels.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
Ask rediffGURU Reetika Sharma your insurance mutual fund and personal finance-related questions.
The Employees' Provident Fund Organisation (EPFO) board has approved liberalised part withdrawals for subscribers, allowing up to 100 per cent EPF withdrawal, and rolled out the 'Vishwas Scheme' to reduce litigation through rationalised penal damages.
Such issues need to be addressed quickly to ensure your retirement savings are not affected.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
'These changes are expected to eliminate many data-entry problems that make the return filing process cumbersome in the current system.'
Before opting for this scheme, consider how EPS is calculated.
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.
Retirement fund body EPFO on Friday retained an interest rate of 8.25 per cent on employees' provident fund (EPF) deposits for 2024-25, sources said. In February 2024, the Employees' Provident Fund Organisation (EPFO) had increased the interest rate on EPF marginally to 8.25 per cent for 2023-24, from 8.15 per cent in 2022-23.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
rediffGURU Sunil Lala answers your personal finance-related queries.
By June 2025, financial freedom will be just an ATM away. Pleasantly surprised? But there's more, says Ramalingam Kalirajan
EPF allows partial withdrawal to meet situations like house construction, medical emergency, and so on.
The RBI advisory follows a labour ministry request earlier this year seeking the central bank's expertise to identify gaps in EPFO's investment strategy and fund management practices, including accounting, risk management, and internal governance.
Of the 823,000 new subscribers in January, the share of young people (18 to 25 age group) declined to 57.07% (470,000) from 57.28% (485,066) in the preceding month.
'To encourage the habit of saving, a portion of the incentive will be kept in a savings instrument of deposit account for a fixed period and can be withdrawn by the employee at a later date.'
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
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.
If someone does reduce his contribution, he should scale it back to the 12% level as soon as he can, suggests Sanjay Kumar Singh.
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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.
Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.
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.
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.
So, the next time someone tempts you with a slightly higher FD rate from a lesser-known bank, point them to hybrid funds that can deliver extra returns without the administrative and emotional rollercoaster.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
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.
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
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Many affluent young people are first-generation wealthy. They have limited financial literacy, lack quality financial guidance or role models, and often fall prey to mis-selling. This makes them hesitant to invest in high-return assets like equities.
EPFO may start investing up to five per cent of its incremental corpus in the equity market.
