The FinTech Hub
Source: Live Mint If you are an EPF (Employees Provident Fund) subscriber and keen to check the account balance and/or the last contribution made, the process is super easy. You need to only give a missed call. The only condition is that the member’s mobile number must already be registered on the UAN portal. So,…
Source: Live Mint I plan to opt for the new tax regime when filing my ITR for AY 2025-26. Currently, I am on the old tax regime, so the 12% of my salary to the Employee Provident Fund (EPF) will continue through the rest of the financial year. Is it correct that I cannot claim…
Source: Live Mint “Is the 30% hike on your in-hand salary?” the father asked. “It’s on the CTC. Increase in take-home can’t be too off-the-mark,” Sanjay replied. “Well, it depends on how the CTC is structured. How many components does it have?” “About ten. Five of these are new if I compare them to my…
Source: Business Standard 3 min read Last Updated : Oct 02 2024 | 11:44 AM IST The Employee Provident Fund (EPF) is a crucial retirement savings scheme designed to provide financial security for employees in the organised sector. However, accounts can become inactive if there are no contributions for three years. This may happen…
Source: Live Mint The Employees Provident Fund Organisation (EPFO) has issued a circular highlighting the allotment of funds for the year 2024-25 towards welfare activities of employees. The total budget for welfare activities, reads the circular, is ₹13.10 crore — out of which ₹74.37 lakh belong to the holiday homes alone. Excluding the budget for…
Source: Live Mint “This tax is as high as 35%, the same as what people earning above ₹1 crore pay,” said Harsh Roongta, founder of Fee Only Investment Advisers. How so? That’s because of compulsory contributions to state insurance schemes and pension funds that are “akin to a tax” because of the difficulty in accessing…
Source: Business Standard 3 min read Last Updated : Sep 13 2024 | 2:14 PM IST The Employees’ Provident Fund Organisation (EPFO) has set up a process to make corrections in Universal Account Number (UAN) profiles, aiming to make employee records accurate and prevent fraud. Here’s an overview of what corrections can be made…
Source: Business Standard 2 min read Last Updated : Sep 11 2024 | 11:39 AM IST Understanding taxation is essential for effective personal finance management, and one area that frequently causes confusion is Tax Deducted at Source (TDS). This concept becomes particularly important when withdrawing money from your Employee Provident Fund (EPF) account. Let…
Source: Business Standard retirement planning, pension plans 2 min read Last Updated : Sep 05 2024 | 2:04 PM IST Union Minister of Labour and Employment and Chairperson, Central Board of Trustees, EPF has approved the proposal for a Centralised Pension Payment System (CPPS) for Employees’ Pension Scheme, 1995. The Centralised Pension Payment System…
Source: Live Mint Let’s get real—you’re not going to work forever. At some point, the daily grind will become exhausting, and you’ll need more time for health and family. With life expectancy rising, you could easily be living into your 90s, which means 30 years without a paycheque. Now, factor in inflation, which could triple…
