The EPFO has about 3.7 crore (37 million) members.
Every young diploma and degree holder in the country will have the right to apprenticeships in the private and government sectors, he said.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
A scenario analysis on how much one needs to save / invest to build a good retirement corpus.
Given its features as a retirement product (long lock-in and compulsory annuitisation), investors should have other investments they can fall back on in case they need funds
US retail giant Walmart has said it is "open to an IPO" for its Indian e-commerce arm Flipkart but there is "no specific timeline" for the share sale. Both Flipkart and payment app PhonePe continue to do well, Walmart International president and CEO Judith McKenna said while speaking at the DB Access Global Consumer Conference on June 7. "We always made it clear from the day we made the acquisition or the investment, that we would be open to an IPO," said McKenna. However, she noted that there is no specific timeline for the IPO.
The logistics segment is becoming a hot favourite of private equity, of late.
'Once elected, you have to act like people's representative for the full five years or else people show you your place.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Life Insurance Corporation (LIC) has received the insurance regulator's nod for time till January-end 2023 to dispose of investments in pension, group and life annuity funds, which do not fall in the "approved investment" category. Had the Insurance Regulatory and Development Authority (Irdai) denied more time to transfer the investments to shareholders' fund at amortised cost, the loss that would have accrued in the profit and loss account (shareholders account) would have been Rs 5,365.83 crore as of September 2021, LIC said in its draft red herring prospectus (DRHP).
Taxpayers are not likely to get as much relief as was proposed in the discussion paper on the Direct Taxes Code last year, with the Finance Ministry saying that the tax slabs may be narrowed down in the bill, slated to be tabled in the monsoon session of Parliament.
The Left parties' demands of 100 per cent funds being invested in government securities, an unrealistic guaranteed return, deployment of public sector employees as fund managers, refusal to shift to a defined contribution system and of course the standard opposition to FDI of 26 per cent do not offer any constructive solution.
No capital came in through the approval route, while the rest of $9,86,681 was by way of issuance of rupee denominated bonds.
American carmaker Ford is expected to announce on Wednesday the sale of its premium British car brands Jaguar and Land Rover to Tata Motors for a consideration of about $2 billion. Local media reported that the agreement will include a pledge by Ford to contribute to the two brands' pension fund, and by Tata to continue buying engines from Ford both sensitive points with trade unions.
The NSE Nifty ended at 5,132, up eight points. The market breadth was positive. Out of 2,840 stocks traded 1,653 advanced while 1,114 declined.
In a post on X, the prime minister also urged the people to make contributions to the Armed Forces Flag Day fund.
Withdrawals from EPF and NPS to have same tax rates.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
A decision on the interest rate for close to 60 million active subscribers of the Employee Provident Fund Organisation (EPFO) is likely to be taken in the next Central Board of Trustee (CBT) meeting, starting on March 25. A letter from the social security organisation regarding the convening of the 233rd CBT meeting was sent to all the board members last week, soliciting their presence in the meeting. Although the venue and the agenda haven't been drawn out yet, sources familiar with the matter say that the interest rate is unlikely to go below 8 per cent level amid a rising interest rate scenario across the globe.
The Congress has so far announced 82 candidates for the seven-phase Lok Sabha polls beginning April 19.
The Bangalore Open scheduled to be held from September 29 has been suspended due to the local promoter's security concerns, according to the Association of Tennis Professionals (ATP) Board.
The government wants to reduce the rate of contribution - part of the employee's share - for a class of workers depending upon age, income or gender, without changing the contribution from the employer's share.
Commodity markets are attracting large non-traditional investors across the globe.
MFs continue to find it difficult to attract and retain long-term money from investors
The government will decide the interest rate on the country's largest pension fund scheme based on the rate of return on investments in the next financial year, Labour Minister Sahib Singh Verma said on Tuesday.
IT major Tata Consultancy Services Ltd has acquired 100 per cent stake in Chilean software firm Comicrom for $ 23 million.
Hedge funds are famous for their price tag - known as "two and 20" - a fee of two per cent of the assets they manage each year and 20 per cent of all gains
The 'angel tax' provision in the Finance Bill will not impact startups in India, a senior government official said on Tuesday. Startups which are registered with the Department for Promotion of Industry and Internal Trade do not come under the purview, Anurag Jain, the secretary in the department said while speaking at the IVCA Conclave. "Let me put one thing very clearly. It doesn't affect startups in the least," he said, addressing the audience at the event organized by the venture capital industry lobby grouping.
Congress president Sonia Gandhi on Tuesday wrote to Prime Minister Narendra Modi suggesting five measures to conserve money for the fight against COVID-19, including a complete ban on media advertisements by government and PSUs for two years and suspending the Central Vista beautification project.
In a bureaucratic reshuffle, economic affairs secretary Rakesh Mohan will look after the key budget division following the appointment of expenditure secretary D Swarup
Life Insurance Corporation scotched speculation of setting up or acquiring a bank on Wednesday but said it plans to enter credit cards business and manage pension funds.
One Rank One Pension (OROP) will have a significant impact on the country's fiscal bill and the overall cost will be around Rs 16,000 crore.
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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).
Why is gold attracting people? And why is it that people love to invest in gold?
The return from the ETF investment will be more than the 8.75 per cent the EPFO offers to subscribers now.
While govt has decided to maintain status quo, don't use the money for house, marriage or education
Kick start your saving and money management strategy at the age of 25, and build it up gradually.
Finance Minister Nirmala Sitharaman on Tuesday asked banks and other financial institutions to ensure that their customers must update nominees to help resolve the problem of unclaimed money in future. "I want the banking system, the financial ecosystem including the mutual funds, stock markets to keep in mind that when someone deals with his (customer's) money, the organisations will have to think about the future and ensure that customers nominate their heirs, give the name and address," Sitharaman said speaking at the Global Fintech Fest (GFF) in Mumbai. According to a report, the banking system alone has more than Rs 35,000 crore of unclaimed deposits, while the overall quantum of the unclaimed money is said to be more than Rs 1 lakh crore.
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