If a risk taker and young, NPS would suit her/him. Otherwise, s/he should go for EPF.
India's largest PSU bank, State Bank of India, delivered excellent results, once the impact of a big jump in employee expenses was adjusted for. The net interest income (NII) beat the Street due to a better net interest margin (NIM) and good loan growth. The credit growth at 5.2 per cent quarter-on-quarter (Q-o-Q) (15 per cent year on year) was excellent for a large bank.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Insurance behemoth LIC on Tuesday said it has garnered a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering (IPO). Anchor Investors' (AIs) portion (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share, the insurer said in an early morning filing to exchanges. Out of the allocation of about 5.9 crore shares to AIs, 4.2 crore shares (71.12 per cent) were allocated to 15 domestic mutual funds through 99 schemes, the filing said.
The party released its manifesto -- Samajwadi Vachan Patra -- for the coming assembly elections, shortly after the BJP released its own.
Despite the equity booster, many would be uncomfortable about NPS.
EPF has traditionally been the only tool for Indians, especially the salaried class, to save for their retirement corpus.
The self-employed should invest in the National Pension System, a government-backed, low-cost retirement avenue where they can choose the mix of debt and equity that is right for them.
It also promised financial assistance of Rs 24,000 annually to all dependent widows and single mothers, two free LPG cylinders to all the beneficiaries of the PM Ujjwala Yojana and 24x7 power supply.
Facing flak over its decision to impose tax at the time of withdrawal on 60 per cent of the contributions to Employees' Provident Fund, the government on Tuesday clarified that only interest accrued on 60 per cent contribution to EPF after April 1, 2016 will be taxed.
Taxation has played spoilsport despite double digit returns.
On retirement, you will draw a lesser amount as pension.
Farmers with land sizes less than 0.01 hectare have an average annual income of Rs 54732 and annual consumption of Rs 61296, thereby, a debt of Rs 6564 each year. Compare this with the minimum pay for a government employee, says Devanik Saha.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
The chief minister and his wife Kamlesh Thakur presented a cheque of Rs 51 lakh to chief secretary Prabodh Saxena at their official residence in Shimla.
EPFO has verified or attested 64.67 lakh Aadhaar numbers.
On maturity, 40 per cent of the accumulated corpus can be withdrawn tax-free.
Have the markets already played out their dynamics before the economy has even properly taken off? Are we now destined for a period of mediocre returns despite a strong economy? asks Akash Prakash.
'How is the scheme running despite running such massive deficits?' 'This is because the number of new members are much more than earlier members who are drawing pension.' 'If this was done by a private organisation, it would have been called a Ponzi scheme in which the contribution by new members is being used to pay off old members,' says Harsh Roongta.
Reduction in the mandatory minimum contribution and extension to invest in the scheme from 60 years to 70 years has made the National Pension Scheme more friendly, says Anil Chopra, Group CEO & Director Bajaj Capital
It's time we dispensed with the paper trail and shifted all labour law paper, workflows and permissions online.
A fierce competition among parties to offer freebies and guarantees, a scramble for tribal, OBC, women votes and a touch of Hindutva -- all have combined to make the Madhya Pradesh assembly polls a high-stakes battle with main rivals BJP and the Congress pulling out all the stops to gain power.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Insurance firms have designed amazing retirment plans to lure more customers.
The Congress vice president wrote to Prime Minister Narendra Modi saying he was saddened at the decisions of the government taken in the last few weeks
The CMOAI had earlier called for a three-day strike that began on Thursday.
FM's proposal came under immediate attack from various employees unions
'Where in the world you get 12.5 per cent return of interest?'
Bournemouth have furloughed staff while top executives and coaches have taken voluntary pay cuts to help ease the financial impact of the coronavirus crisis on the south-coast side, the Premier League club said on Wednesday.
'There are no new benefits for senior citizens, but on the other hand senior citizens having sizeable dividend income may have to suffer tax at applicable slab rates,' says Mahesh Padmanabhan.
Gross enrolments of new subscribers with ESIC were 1.49 crore during the entire financial year 2018-19, the National Statistical Office (NSO) said in a report.
Not only were Urjit and Rajan outsiders, they also hired laterally, bypassing the existing talent, especially in the field of economics
Investors across age groups and risk appetite can invest in these schemes.
Supreme Court allows more instruments to use the biometric card.
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
The Bharatiya Janata Party has released its manifesto for the upcoming Nagaland assembly elections, promising a special package for the eastern part of the state and establishment of a board for the holistic development of the region if the party returns to power for the second time in a row.
The recommendations will benefit 47 lakh central government employees and 52 lakh pensioners.
Gross enrolments of new subscribers with ESIC were 1.49 crore during the entire financial year 2018-19.
If the government decides to go back to the old regime where the EPF was not taxed but the NPS was, the latter will become an unattractive product.
