In terms of the para 60(1) of the Employees’ Provident Funds Scheme, 1952, rate of interest on the Employees Provident Fund is determined by the Central Government in consultation with the Central Board of Trustees, Employees Provident Fund. Accordingly, the Central Government declared 8.25% rate of interest on EPF accumulation for the year 2011-12 based on the earnings of the Fund during the year.
If you are making regular savings through Post Office, here is some good news. An important announcement has been made by the Department of Posts relating to the ceiling of maximum balance in a post office savings account.
Reserve Bank has directed banks to reimburse customers for amounts wrongfully debited from their accounts in failed ATM transactions within seven days of an account holder’s complaint or else pay a Rs.100 per day compensation.
The interim pension regulator has sought tax relief on investments in the New Pension Scheme (NPS) to make it more attractive to employees of private sector firms.
ULIP (unit linked insurance plans) is a life insurance policy mixed up with an investment in the stock market. A portion of the premium paid by you is utilised towards taking a pure endowment life insurance policy and the remaining amount is invested in the stock market by buying shares of companies chosen by the fund manager.
Use of Internet and ATM for banking is common nowadays. Even a novice could operate internet banking interface with ease. Yet use of ATMs and Internet banking for banking could be termed as a double-edged weapon
“Why should I go for a Health Insurance if I am a Government Employee? I am already covered by either CGHS or Medical Attendance Rules.” This may be your thought process when you start reading this article.
Traditionally the most favoured investment avenue in India, bank deposits continue to hold fort even today. The total fixed deposits with banks in India amount to a whooping Rs 35,68,435 crore (Rs 35,684.35 billion) as per Reserve Bank of India data.
Yes. It’s a price tag on human life. Every humanbeing is priceless to his family. But it becomes necessary to evaluate a human life in terms of money, in order to safeguard from under-insurance problems.
Axis Asset Management Company Limited (Axis AMC), a wholly owned subsidiary of Axis Bank Ltd, today announced that it has received the final regulatory approval from the Securities & Exchange Board of India (SEBI) to launch its mutual fund business in the country.
Mutual fund investments have usually two options: dividend and growth. The amount invested by you in mutual funds are used to buy stocks, bonds or other investments.
After 1st Aug-2009, you need not think twice before letting your credit card out of sight at a restaurant, petrol pump or any other merchant establishment. The details printed on your card including the card number, expiry date and three-digit card security code (popularly known as the CVV) will not be enough to make fraudulent […]
Budget 2009-10 proposed to exempt the income of the New Pension Scheme (NPS) Trust from income tax and dividend distribution tax.
nvestments in mutual funds may not suffer deduction of ‘entry load’ for too long. In a move that will empower investors to determine the price they will pay for service received from a distributor, thereby reducing their cost of investing in mutual funds, the Securities and Exchange Board of India (SEBI) has asked fund houses to do away with entry load on all their schemes.
The finance ministry is considering to extend tax advantage (EEE status) to the New Pension Scheme (NPS) in this year’s Budget, according to top government officials. This will bring the government-sponsored pension scheme on a par with other long-term investment plans such as the Public Provident Fund (PPF), Group Provident Fund (GPF), Employee Provident Fund […]