'When we say we want to increase pension participation, do we want to increase participation through the savings route?' 'Or do we want people to save in specific pension products?' asks Renuka Sane.
At present, the EPF subscribers are exempted from paying income tax on deposits.
The finance ministry on Friday asked state governments to accord priority to employees of banks and insurance companies for Covid-19 vaccination, saying they are exposed to high risks during these difficult times.
The Corporate affairs ministry has notified that henceforth political parties will not be eligible for CSR funding.
The government has approved payment of 8.75 per cent rate of interest on PF deposits in 2013-14 for over five crore subscribers of retirement fund body EPFO.
Tomar had discussed the two proposals with trade unions on June 24 and assured that the government will take at least two weeks to take a decision.
Byju's plans to raise funds at a lower valuation of $7-8 billion as the embattled edtech major looks to shore up its financials with adequate liquidity, a senior company executive said on Tuesday. Banking on overall "improved performance", Think and Learn, the parent of Byju's, is hopeful of a higher valuation ahead of its rights issue being planned in February to raise funds. Byju's India chief financial officer Nitin Golani said the company is in need of funds and plans to raise it at a lower valuation to make the offer lucrative for investors as well as ensure adequate liquidity support for the edtech firm.
The government last month had approved a plum Rs 69,000 crore revival package for BSNL and MTNL that includes merging the two loss-making firms, monetising their assets and offering VRS to employees so that the combined entity turns profitable in two years.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
An employee should always keep his bank account active inorder to claim PPF after he joins a new office.
But increase in the statutory contribution will boost retirement corpus
Labour Ministry has notified new investment pattern for EPFO.
The rate of interest will be effective from April 1, 2015.
Wealth management seems to have moved from family office solutions to CXO office solutions.
For someone who is such an indefatigable litigant, what is stopping Mr Saxena from using the law to depose Mr Kejriwal? Maybe we will get the answer after May 25, notes Aditi Phadnis.
Retirement fund body EPFO will cut exposure in corporate bonds and park more funds in the secure government securities.
During December 2018, maximum number of 217,000 jobs were created in the 18-21 years age group followed by 203,000 in the 22-25 years age bracket.
The number of contributors was 46.4 million in July and 44 million in September.
Jet's air operator certificate will lapse on May 19.
7 million jobs will be created in formal sector in FY18
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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 salary hike for government employees is likely to put an additional burden of Rs 24,000 crore on the state excheque.
The members of these trusts enjoy tax and other benefits at par with EPFO subscribers.
The insurance brokerage had experience of settling claims in Jammu and Kashmir and Visakhapatnam in Andhra Pradesh during natural catastrophes earlier this year.
The UPA government's decision to ensure a minimum pension of Rs 1,000 a month under the retirement fund body EPFO's scheme, which will immediately benefit 28 lakh pensioners, is going to be a reality soon.
The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments.
'Where in the world you get 12.5 per cent return of interest?'
The total size of pension market in India is estimated to have stood at over Rs 1.5 lakh crore (Rs 1.5 trillion) in 2010, while it is expected to rise to over Rs 2 lakh crore (Rs 2 trillion) by 2015 and further to close to Rs 3 lakh crore (Rs 3 trillion) in 2020 and more than Rs 4 lakh crore (Rs 4 trillion) by 2025.
The Rajya Sabha on Tuesday gave its green light to the Multi-State Cooperative Societies (Amendment) Bill 2023. This Bill introduces significant amendments to the Multi-State Cooperative Societies (MSCS) Act. These modifications aim to enhance the transparency and accountability of these cooperatives' operations in a bid to improve governance.
At present, someone short of the retirement age can completely withdraw the PF money.
According to the law, the contribution "should not be more than 5 per cent of the amount paid to gig workers. The government is likely to start seeking contribution from gig companies towards the fund from April 1, 2021.
Unique Identification Authority of India said the alleged data breach took place on a website that does not belong to it.
There is no reason for a child with no dependents to have insurance because insurance is put in place to provide for the child in the event of a parent's untimely death and not the other way around, says Amar Pandit.
At present this facility is available to workers of (un-exempted) firms which do not have their PF trusts and manage their employees' accounts with their respective regional fund commissioners of the EPFO. It was launched in October last year.
The 59-year-old legislator from the Samalkha in Panipat district is stated to be the 'owner and promoter' of the Mahira real estate group along with his sons Sikander Singh and Vikas Chhoker.
In a public notice, the Securities and Exchange Board of India observed that some companies or entities are illegally mobilising funds from the public by making false promises of exorbitant rates of return under various schemes.
"People in India are benefiting from the whole process of liberalisation," Finance Minister Arun Jailtey said.
Apart from this, employers may be allowed to deduct EPF contributions only on the basic pay of up to Rs 15,000, even if the employees' basic pay is above this ceiling. While on one hand this will allow companies to lower their wage bills, employees can also get a higher salary in hand.
Missing the deadline for filing Income Tax returns can lead to consequences.
If your account is idle for over five years, there could be issues with acquiring EPF details.
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