The Indian Government has announced a significant change in pension management for its employees. According to an official notification released on January 24, 2024, a new Unified Pension Scheme (UPS) will be implemented, effective from April 1, 2025. This scheme will be available to employees currently covered under the National Pension System (NPS), offering a …
The Employees’ Provident Fund Organisation (EPFO) has expanded its banking partnerships by signing agreements with 15 additional public and private sector banks. This strategic move is aimed at enhancing the efficiency of fund collection, streamlining employer payments, and improving overall service delivery. With this expansion, the total number of empanelled banks has now increased to …
When considering a job offer, salary is one of the most important factors. However, the salary mentioned in your offer letter is typically given as Cost to Company (CTC), which differs from the actual in-hand salary you receive every month. This is because CTC includes various components such as basic salary, allowances, performance incentives, and …
Several important changes to Social Security will begin on April 14, 2025. This will impact millions of beneficiaries and new applicants. The updates are designed to enhance security and ensure fair distribution of benefits. These changes affect identity verification processes, payments for certain retirees, and more. What Is SSA Changing In April 2025? Starting April …
Are you relocating to a new city and considering purchasing a second home through a loan? If so, it is crucial to understand the tax benefits associated with multiple housing loans. Under the Indian Income Tax Act, certain deductions are available for home loan repayments, but the benefits vary depending on whether the property is …
The financial year (FY) in India begins on April 1 and ends on March 31. This means April marks the beginning of FY 2025-26, making it a crucial time to review investments and tax planning. Taking early action can help optimise savings and ensure compliance with new tax laws. Review New Tax Rules and Plan …
Paytm has introduced the Paytm Travel Pass, a subscription service designed to benefit frequent flyers and business travellers. Priced at ₹1,299, the pass offers a range of advantages including free cancellations, travel insurance, and seat discounts, with total savings of up to ₹15,200. The pass is valid for three months, making it ideal for multiple …
India’s gig economy is thriving, with more professionals choosing freelancing and independent contracting as their primary source of income. According to NITI Aayog’s report “India’s Booming Gig and Platform Economy”, the workforce in this sector is expected to surpass 1 crore in 2024-25 and reach 2.35 crore by 2029-30. With this rapid growth, financial planning …
On April 1, 2025, the Unified Pension Scheme (UPS) will be launched under the National Pension System (NPS), offering central government employees a robust post-retirement financial security plan. With guaranteed pension benefits, government contributions, and investment flexibility, UPS is designed to provide comprehensive financial support to employees after their retirement. Key Features of Unified Pension …
On Friday, March 28, the Union Cabinet, led by Prime Minister Narendra Modi, approved an additional installment of dearness allowance (DA) for central government employees and dearness relief (DR) for pensioners, effective January 1, 2025. This decision is expected to benefit 1.15 crore central government employees and pensioners. Ashwini Vaishnaw, the Minister of Information and …
