The Employees’ Provident Fund Organisation (EPFO) is set to revolutionise claim processing by integrating Unified Payments Interface (UPI), a move aimed at improving efficiency and reducing transaction time. According to news reports, the Labour and Employment Secretary Sumita Dawra stated that this new feature will allow EPFO members to withdraw their provident fund (PF) seamlessly …
Donations to the Ayodhya Ram Mandir may qualify for income tax deduction. This is under the old I-T regime. Individuals using the old tax regime can claim up to 50% deduction under Section 80G. This applies when donating to the Shri Ram Janmabhoomi Teerth Kshetra. Cash contributions cannot exceed ₹2000. Donations in kind are not …
In the journey of wealth creation, reaching your first crore is a significant milestone. While there are several ways to grow your wealth, one of the most effective and disciplined methods is through a Systematic Investment Plan (SIP). Not only does it allow you to save regularly, but it also helps your money grow at …
Your credit score plays a crucial role in securing loans and credit cards, but many are left wondering: does my savings account balance affect my CIBIL score? Let’s break this down. No Direct Link Between Savings and Credit Score Credit scores, such as the CIBIL score, are based solely on your credit behaviour—how you manage …
A job offer boasting a ₹10 lakh annual salary will certainly take you over the moon. However, it’s still vital to understand how much of that translates into your actual monthly paycheck. To plan your finances effectively, let’s break down the different parts of your salary and estimate what you’ll be taking home each month. …
The Unified Pension Scheme (UPS) begins April 1, 2025. It is a part of the National Pension System (NPS). It provides guaranteed pension benefits. It also includes government contributions. It ensures financial security post-retirement and provides investment flexibility. Get Guaranteed Pension Based on Service Under The UPS UPS provides structured pension payouts based on service …
The Employees’ Provident Fund Organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC) are launching another edition of Nidhi Apke Nikat 2.0, a nationwide outreach programme. This initiative aims to directly engage with stakeholders and address their grievances efficiently, ensuring seamless support for employees, employers, and pensioners. Nationwide Outreach for Grievance Redressal The Employees Provident …
The Employees’ Provident Fund Organisation (EPFO) has introduced major updates to the Employees’ Deposit Linked Insurance (EDLI) scheme in its 237th meeting. These changes streamline the death claim process and enhance insurance benefits, providing crucial financial security to families of EPF members. Key Updates to the EDLI Scheme The EDLI scheme, established in 1976 by …
Online payment has been the mandatory method for EPF contributions by all registered employers since September 2015. Employers can use the EPF’s official portal or their bank’s website if the bank offers this facility. Benefits of Making EPF Contributions Contributing to the Employees’ Provident Fund (EPF) offers several key benefits. Firstly, it provides tax advantages, …
Gold loans have long been a go-to option for individuals needing quick financial assistance. However, recent changes in regulations have made the process more challenging for borrowers. After the Reserve Bank of India (RBI) tightened gold loan policies, many borrowers now find themselves struggling to extend their loans without fully repaying them first. New Rules …
