EPFO has recently issued Universal PF Account Numbers for 4.17 crore contributing members.
After complaints that the new law may impact employment of women, the government has framed a scheme to provide monetary incentive to companies, reports Somesh Jha.
'If a taxpayer opts for the new tax regime once, he can only switch back to the old tax regime once in his lifetime.'
Begin by creating a household budget. Involve all family members in the exercise and cut costs wherever possible.
Salaried employees get several benefits under Sections 80C, 80D, 80G and others.
Several changes were made to the new income-tax regime in Budget 2023. The old income-tax regime was not tinkered with and is still available.
Lenders of debt-ridden Jet Airways on Tuesday filed an appeal in the National Company Law Appellate Tribunal (NCLAT) against implementation of the resolution plan by the Jalan-Kalrock consortium, according to sources. The sources said the lenders have maintained that the condition precedent mentioned in the resolution plan of the consortium has not been met. And therefore, the plan is not valid. "The lenders want the plan to be circled back to the committee of creditors (CoC) for fresh consideration," the sources said.
'It is important that employees are trained to acquire skills that would be needed in future, when the company sees disruption coming -- that is, much before the disruption occurs or the company plans to change the business model,' says Asish K Bhattacharyya.
During February 2019, the highest number of 236,000 jobs were created in the 22-25 years age group, followed by 209,000 in the 18-21 years age bracket.
On maturity, 40 per cent of the accumulated corpus can be withdrawn tax-free.
Suppose you had bought a television set that came with a one-year warranty. It breaks down two years after purchase. You can't react emotionally and say that such an expensive set should last for at least five-six years.
The Swiss authorities have never considered tax evasion a reason for breaking banking secrecy on an account; what they have acknowledged now is that they will cooperate in cases of tax fraud, which has a tighter definition.
A European cargo airline has moved the National Company Law Tribunal seeking expeditious acquisition of three Jet Airways B777-300 aircraft. The application is by a Malta-based Ace Aviation VIII Limited, which emerged as a successful bidder in the auction of three Boeing 777-300ER aircraft. The firm is part of a Belgium-based cargo airline and its application will be heard on Wednesday.
rediffGURUS Hardik Parikh, Tejas Chokshi, Mihir Tanna and Sanjeev Govila answer your tax related queries.
'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.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
The Corporate affairs ministry has notified that henceforth political parties will not be eligible for CSR funding.
In the jobs created in 2022, the share of those in the age group 18-25 increased to at least a five-year high of 56 per cent. A Business Standard analysis of the monthly Employees' Provident Fund Organisation (EPFO) payroll data shows in 2018 the share of youths among the new EPFO subscribers was 50.9 per cent. The National Statistical Office is releasing the monthly EPFO payroll data since April 2018 as part of the government's effort to track formal-sector employment by using payrolls as an instrument.
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.
Opposing the Centre's stand that the PM CARES Fund was not a government fund, a lawyer told the Delhi High Court Wednesday that there was no factor to show that the fund was private in nature.
Currently, banks are closed every second and fourth Saturday of a month. Why shouldn't they be shut every Saturday? When most customers carry their banks in their pocket (the app on the mobile phone), there is no need to keep banks open on Saturdays, argues Tamal Bandyopadhyay.
But increase in the statutory contribution will boost retirement corpus
Labour Ministry has notified new investment pattern for EPFO.
An employee should always keep his bank account active inorder to claim PPF after he joins a new office.
US media reports that Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, could be the latest technology giant to downsize its workforce have triggered trepidation among its 300-400 employees in India, according to people familiar with the matter. "We have not heard much about the impact (of downsizing) on India. "It's a wait-and-watch situation. Certainly, there is uncertainty," said a source.
The fresh meat and seafood delivery startup Licious plans to set up 500 stores nationwide within the next five years as part of an omnichannel strategy. The aim is to attract new users in the offline channel and encourage them to transact online as well. The move would also help the company in its efforts to achieve profitability and go for an initial public offering (IPO) in the next 24 months, according to the sources.
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.
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.
Retirement fund body EPFO will cut exposure in corporate bonds and park more funds in the secure government securities.
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 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.
Tata Passenger Electric Mobility (TPEM), a subsidiary of Tata Motors, on Friday announced that it has commenced production at its second factory in Sanand, Gujarat, which it had acquired from Ford India last year. This new facility will unlock an additional manufacturing capacity of 300,000 units per annum, which is scalable to 420,000 units. The new facility is spread over 460 acres and is adjacent to Tata Motors' existing passenger vehicle facility in Sanand.
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.
7 million jobs will be created in formal sector in FY18
For women, it is important to build an emergency fund and a financial independence fund independent of the couple's joint goals and plans.
BharatPe co-founder Ashneer Grover and his wife Madhuri Jain were stopped at the Delhi international airport following a look out circular issued against them in the alleged fraud at the fintech firm, sources said. The couple were to travel to New York late on Thursday for vacation when they were stopped at the airport on the basis of a look out circular issued by the Economic Offences Wing (EoW) of the Delhi police. EoW is investigating complaints of payments being made at BharatPe to fake human resource consultancies allegedly operated by Grover and family. They have also been accused of backdating invoices to use funds.
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