The 7th Pay Commission, implemented in January 2016, brought significant changes to the salary structure of central government employees and pensioners. One of the key aspects of this commission was the revision of pension calculations for retired employees. But how exactly does it affect pensioners? Let’s take a closer look. Pension Revision Under the 7th …
The 8th Pay Commission is anticipated to introduce significant changes to the pension structure for central government employees in India. A key factor in determining pension revisions is the fitment factor, which standardises salary and pension hikes across various pay levels. In the 7th Pay Commission, a fitment factor of 2.57 was applied. The 6th …
Gratuity is a financial reward given by employers to employees as a token of appreciation for their long-term service. It is a statutory benefit under the Payment of Gratuity Act, 1972, ensuring that employees receive a lump sum upon retirement, resignation, or under certain other conditions. In case of the employee’s demise, their nominee or …
Understanding your take-home salary when your Cost to Company (CTC) is ₹15 lakh per annum (LPA) involves breaking down various components of your compensation and accounting for mandatory deductions. Here’s how you can estimate your monthly in-hand salary: Components of CTC Your CTC typically includes: Basic Salary: Usually 40-50% of the CTC. For a ₹15 LPA …
The maturation of an investment signifies the completion of its predetermined term. At this juncture, investors must decide whether to withdraw the funds or reinvest them for future growth. Investments that reach maturity may include fixed deposits, bonds, stocks, or mutual funds. Making the right decision requires evaluating multiple factors that influence both short-term and …
With the anticipation of the 8th Pay Commission, employees across various government sectors are eager to understand the potential benefits it may bring. The Pay Commission in India plays a crucial role in revising the salary structures, pensions, and allowances of government employees. Let’s take a look at what all benefits were included in the …
A pension plan provides a structured method for individuals to accumulate wealth over time for their post-retirement years. These plans require regular contributions, which are invested in market-linked instruments, allowing the corpus to grow through compounding. At maturity, investors can withdraw a portion tax-free, while the remainder must be used to purchase an annuity for …
Finding your parent/grandparent’s share certificates in an old locker can be a wish come true. If you have an old TCS share certificate, understanding its true value might be your next step. An old share certificate promises substantial cash rewards, provided you know how to claim it. Here’s a step-by-step process you could follow if …
Fraudsters are targeting the poor looking to apply for loans under the PM Mudra Yojana. A fake approval letter offering ₹5,00,000 on payment of ₹2,100 is trending among applicants. However, people must exercise caution before transferring money to anyone. The government never asks for payment to grant loans under the scheme. Myths Around PM Mudra …
Accumulating ₹50 lakhs over 15 years may seem like a significant challenge, but with a disciplined approach and the right investment strategy, it’s entirely possible. The key to reaching this goal lies in starting early, investing consistently, and choosing the right investment options to maximise returns. One of the most effective ways to reach this …
