Your EPF isn't just a retirement pot. It's a financial safety net you can dip into for life's biggest needs. Here's how these one-time advances work and when to use them wisely.
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.
rediffGURU T S Khurana answers readers' personal income tax queries
A string of welfare schemes and promises tests the state's budget, which is already heavily dependent on central support and spends little as capital outlay.
'When you compare Bihar's poverty from its earlier times, then there is a huge difference. Things have improved a lot. And migration has played an important role in reducing poverty.'
RJD leader Tejashwi Yadav promised that if the INDIA bloc comes to power in Bihar, it will ensure every family has a member with a government job, enacting legislation within 20 days of forming the government.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
The new Income Tax Bill, passed by Lok Sabha on Monday, has retained the provisions regarding ITR filing for TDS claims and tax exemptions for anonymous donations made to all religious-cum-charitable trusts, as in the existing tax laws. The original Income Tax Bill, which was brought in Parliament in February, had done away with this exemption and the ITR filing flexibility for claiming TDS refunds.
Both NDA and INDIA are racing to woo marginalised groups with Assembly polls fast approaching.
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
'Defence, capital goods, engineering, capital market-related stocks, autos, and cement sectors are my bullish bets for Samvat 2082.'
'This is an area where good lending can happen, and that is one of the priorities for the next quarter.'
Here's unlocking the real story behind your EPF's 8.25% interest and what it truly means for your retirement kitty.
The 100 per cent withdrawal provision and the 25 per cent minimum balance provision have led to some confusion.
'I need 3-4 lakhs for the wedding. All prospective grooms demand a motorcycle which costs 1 to 1.5 lakhs, then you have to also give a bed, cupboard, utensils, fridge,' says Kamala, her wrinkled forehead furrowing with despair.
Investors should quiz them to understand the product, which options to invest in, and how to get the final payout
Remember, pension from EPS will be taxable at slab rate, reducing the post-tax income for people who remain in the higher tax brackets after retirement.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'Government officials use Gmail and ordinary phones without basic security consciousness.' 'Interoperability, especially in joint exercises with countries like the US, worries me.' 'It often means we open our systems to them, but they don't reciprocate.' 'They could have kill switches in their systems and might even be able to affect ours.'
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
'Always keep accurate and transparent records of the source of the investment or property's funding: Loan agreements, transfer records of the property, and bank statements of co-owners if available.'
The Union finance ministry has rejected a proposal sent by the labour ministry to double the monthly minimum pension amount to Rs 2,000 under the Employee Pension Scheme (EPS). The Central Board of Trustees (CBT), the apex decision-making body of the Employee Provident Fund Organisation (EPFO), was apprised of the proposal's rejection during a meeting on Saturday. "According to the recommendations made by a highly-empowered monitoring committee constituted by the government, a proposal to increase the minimum pension under EPS from Rs 1,000 to Rs 2,000 per month, by providing additional budgetary support, was sent to the ministry of finance.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
The potential market for pensions in India is enormous. Some 284m working age people in India lack formal pensions.
Switching to the UPS could be a game-changer for your retirement planning, especially if you value guaranteed benefits and higher government contributions, observes Ramalingam Kalirajan.
The Securities and Exchange Board of India (Sebi) has planned a slew of further relaxations to facilitate easier registrations of foreign portfolio investors (FPIs), including a common know-your-client (KYC) and smoother documentation through India digital signature.
The Employees' Provident Fund Organisation (EPFO) on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2014, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per cent of pensionable salary capped at Rs 15,000 a month - towards pension. The apex court gave a four-month window to enable opting for higher pensions.
With organisations like the Bharatiya Mazdoor Sangh, which is a front of the Rashtriya Swayamsevak Sangh, telling Finance Minister Nirmala Sitharaman they want OPS back, the government is in a bind, report Shiva Rajora and Aditi Phadnis.
Shivakumar said, "Mahayuti leaders should visit my state to see how Congress' welfare guarantees are benefiting people."
rediffGURU T S Khurana answers readers' personal income tax queries.
The order also provides that the field office will incur expenditure on the facilitation function under the head of publicity.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Experts say the state's economy is grappling with hidden debt, rising welfare costs, and lack of transparency.
Raising social security pension amounts, increasing financial assistance given under the 'Rythu Bandhu' investment support scheme for farmers and providing LPG cylinders at Rs 400 each are some of the promises made by the ruling Bharat Rashtra Samiti for the upcoming assembly elections in Telangana.
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