Public-sector banks, which are the largest employers in the banking space, have seen a drop in clerical staff over the years.
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
The normal operations, including payment and settlement activities in the Reserve Bank of India (RBI), are likely to be affected on Friday with its employee unions going on one-day strike to press their demands on pension.
'Barring a temporary blip where stocks fell on verdict day, we are back to all-time highs.'
'This year overall hiring has seen a slight improvement as compared to the dip seen during the last financial year.'
The higher salaries and pension outgo will be equivalent to about one per cent of the GDP.
Employees of the State Bank of India will go on an indefinite strike countrywide from Monday demanding enhanced pension package.
'Basic Covid protocols were not followed, which is why so many teachers lost their lives.'
The union has been opposing merger of State Bank of India's associate banks with the parent, outsourcing of work and extension of option to provident fund optees to join pension scheme, United Forum of Bank Employees said in Ludhiana.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Mutual funds are set to bag a huge chunk of the nearly Rs 3,05,000 crore cash reserves of the public sector companies.
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?
Transactions amounting to almost Rs 50,00,000 crore (Rs 50,000 billion) were stalled by the all-India strike by over 2,500 employees and officers of the Reserve Bank of India on Friday, demanding update of the pension scheme.
The union has been demanding appointment of staffs, implementation of proper pension scheme, opposing the idea of one delivery point and one post office system of the government, Union general secretary M Krishnan told reporters in New Delhi on Tuesday.
The poll panel has asked state Congress chief Govind Singh Dotasra to respond to the notices by 3 pm on Thursday and 7 pm on Friday, respectively.
The Aam Aadmi Party (AAP), which contested the assembly polls in Himachal Pradesh for the first time, drew a blank securing just 1.10 per cent of the total votes cast.
Since 1993, when the BJP came to power after a stint of President's rule, the state has alternated between the Congress and the BJP.
Against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 4.7 lakh were subscribed, according to information available from the BSE. Adani Enterprises fell almost 20 per cent to below the offer price of its secondary sale as all the seven listed companies of the conglomerate took a beating in the aftermath of Hindenberg Reserach alleged that the group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
Ahead of this election, the alliance between the BJP and the SKM had broken down. One reason is the fear that like Article 370, Article 371F might also be changed.
The state's revenue receipts might not afford various freebies announced by the parties, unless revenue deficit and hence fiscal deficit is widened.
The Central Board of Trustees of Employees Provident Fund Organisation on Tuesday approved a scheme allowing subscribers to withdraw up to 90 per cent of the accruals to invest in Varishtha Pension Bima Yojana.
Reserve Bank employees, who observed a token sit-in protest on Tuesday, threatened to strike work if their demands for putting an end to outsourcing of jobs and continuation of revised pension scheme were not met.
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
In a big relief to over a crore retired employees of government and PSUs, a pensioner can now digitally provide proof of his existence to authorities for continuity of pension every year instead of requiring to present himself physically or through a Life Certificate issued by specified authorities.
The ruling Congress on Thursday swept the Shimla Municipal Corporation (SMC) polls with a two-third majority by winning 24 wards out of the total 34, wresting the prestigious civic body from the BJP.
Populism gains momentum during election periods, and this trend is evident in at least four states: Telangana, Rajasthan, Madhya Pradesh and Chhattisgarh.
If you work for 30 years, a two per cent difference in pension returns can reduce your final retirement nest egg by 40 per cent. The Rs 9-trillion National Pension System (NPS) seems to be delivering incrementally higher returns than the twice-as-large Employees' Provident Fund Organisation (EPFO), shows a Business Standard analysis of data over the last seven years for the two retirement fund bodies. An investor who put in Rs 100 in retirement savings seven years ago would have seen her NPS nest egg grow to Rs 182 by 2023, according to the analysis based on the Pension Fund Regulatory and Development Authority's recently released Handbook of National Pension System Statistics 2023.
As political winds stir in these states, it's prudent to assess their economic landscapes.
This mindless medley of products does not create choice.
Overall, the MF industry saw nearly Rs 5 trillion, or 18 per cent, of asset erosion in March, with the asset base shrinking to Rs 22.26 trillion from Rs 27.22 trillion at February-end.
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.
Currently, banks are closed every second and fourth Saturday of a month. Why shouldn't they be shut every Saturday? When most customers carry their banks in their pocket (the app on the mobile phone), there is no need to keep banks open on Saturdays, argues Tamal Bandyopadhyay.
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.
For large numbers of employees in the government system, the month-end salary cheque is no longer guaranteed. So the days of the government and State-owned enterprises wanting to be ideal employers are over, observes T N Ninan.
If someone does reduce his contribution, he should scale it back to the 12% level as soon as he can, suggests Sanjay Kumar Singh.
Fresh formal job creation cooled for the second consecutive month to decline to a six-month low in September, signalling a downturn in the labour markets this financial year. The number of new monthly subscribers under the Employees' Provident Fund (EPF) declined by 6.45 per cent to 891,583 in September from 953,092 in August, shows the latest payroll data released by the Employees' Provident Fund Organisation (EPFO). Besides, the net payroll additions -- calculated by taking into account the number of new subscribers, the number of exits, and the return of old subscribers -- increased by 14.9 per cent to 1.72 million in September from 1.49 million in August.
As he said this, he set the target of winning 156 seats in the assembly election due later this year.
When taken at the right time it can prove to be your best friend during old age
EPFO has an ambitious plan to settle the claims within few hours after filing of application
Before you file your income tax return this year, have a look at the amendments that might help you take the most possible tax benefit.
