There will be tripartite pact with member, bank/housing agency and EPFO.
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.
MFs continue to find it difficult to attract and retain long-term money from investors
It's better to inform your new employer about income earned and deduction availed with the previous one.
If your account is idle for over five years, there could be issues with acquiring EPF details.
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
Interim pension regulator PFRDA has asked the government to bear the cost of maintaining accounts of policy holders under the New Pension System, a move that will encourage people to opt for the scheme.
Damage from new shenanigans can be contained if regulators move quickly when something does not smell right, counsels Debashis Basu.
The government should now focus on governance and monitoring the supply side to manage inflation, says M V Subramanian.
The main purpose of the meeting is to assess their views on reforms that are required to attract long-term capital into the country.
After many cases of irregularities in old-age pension disbursement surfaced in Uttar Pradesh, Chief Minister Mayawati has directed authorities to lodge FIR against officials indulging in corrupt practices.
There appears to be a growing perception among the political class that faster growth will not create jobs fast enough and, therefore, welfare spending needs to be drastically increased, says T T Ram Mohan.
Once the new rules kick in, you will have less cash-in-hand and may feel tempted to scale back on savings and investments.
You need not worry even if there is a mismatch between your income and deduction in Form 16/16A and Form 26AS, says Ashley Coutinho
'I have seen, even in my village, people hanging pictures of Communist leaders -- Jyoti Basu, Joseph Stalin, Mao Zedong -- in their drawing rooms. Could we not hang pictures of Swami Vivekananda? '
Evaluate recurring investment products and do the numbers before making any investments.
The manifesto, on the lines of the party's promise in Delhi in 2015, also says the AAP government will set up Aam Aadmi canteens at sub-division and district levels where one time meal will be available for Rs 5, and reduce the power tariff to half for usages up to 400 unit.
Officials cited the example of the Sixth Pay Commission.
Want your investments to make money as well as save tax for you? Anil Rego has some advice
Restrict investment to Rs 50,000 for tax benefits, experts tell Sanjay Kumar Singh, but caution that taxation at maturity and compulsory annuities are dampers.
The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund was established in March last year with the primary objective to deal with any kind of emergency situation like the one currently posed by the COVID-19 outbreak and provide relief to those affected.
It is best to invest long-term surplus in stocks or equity mutual funds.
The independent institute advising the PM on jobs seems to have missed the point that the challenge is to create net additional jobs, says Mahesh Vyas.
The 'partial withdrawal' is however allowed only after 10 years of contribution by the subscriber, said the draft guidelines by the Pension Fund Regulatory and Development Authority.
Railway hospitals will offer postgraduate courses for medical students.
More incentives will be given to agriculture sector for increasing agriculture production.
FM proposed rationalisation of various tax exemptions.
The 40 per cent exemption benefit is applicable only for employees.
The 600-million (approximately Rs 4,100 crore) UK Personal Accounts Delivery Authority (PADA) deal, which was recently awarded to Tata Consultancy Services (TCS) to administer the National Employee Savings Trust (NEST) scheme for 10 years, has come under the scanner of the Conservative Party.
After assuming power in 2014 with a full majority of its own, the BJP-led NDA government started an ambitious process of reforming labour laws in the form of codes aimed at making the framework less cumbersome with a variety of alterations. It had planned four codes each for industrial relations, wages, social security and welfare, and occupational safety, health and working conditions. To this end, 35 central labour laws were to be converted into four codes that would have had the virtue of streamlining labour relations. But none of the proposed code Bills could be converted into a law principally because neither trade unions nor industry representatives came on board. They hold the key to India's low-growth-high unemployment paradigm but the government may struggle to push them through this time as well. Somesh Jha explains why
Home and kitchen appliances, electronic products, apparel and B-segment cars stand to gain.
In January, the Employees' Provident Fund Organisation had asked the field staff to ensure the collection of data in respect of member joining on or after March 1, on a monthly basis and in respect of existing members by June 30, 2013.
There will be a review of employee compensation arrangement in the light of the new rules.
India's biggest state-run pension fund, the Employees Provident Fund, will aim to keep interest rate returns high, Labour Minister Sahib Singh said on Friday, despite an overall easier monetary climate.\n\n
It's high time we now turn the popular question on its head -- when there is no growth in jobs for several years, how can the real GDP grow at 7 per cent per annum, says Mahesh Vyas.
'The rate of interest from the EPF is still attractive compared to the rates on fixed deposits, National Savings Scheme, Public Provident Fund...'
The states will be asked to tap the Centre's JAM trinity.
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Taxpayer will also have to forego deduction under 80CCC (contribution towards certain pension fund), Section 80D (health insurance), 80E (interest on loan for higher education), 80EE (interest on loan taken for residential property), 80EEB (purchase of electric vehicle), 80G (donation to charitable institutions), and 80G (rent paid).
The finance minister may stagger some of the recommendations.
T C A Anant, former chief statistician to the government, will soon be heading a panel to decide whether the monthly payroll data released by EPFO, ESIC and PFRDA could replace the quarterly enterprises-based survey on job creation by the labour bureau, the prime minister's office decided last week.
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