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Source: Live Mint Have you ever wondered why your take-home salary is less than your gross salary? Do you understand your salary structure? What’s the difference between cost to company (CTC) and take-home pay? How much does your employer contribute to your provident fund? What is CTC? CTC represents the total cost to the company,…
Source: Live Mint The desire for early retirement is gaining popularity as more individuals aim to escape the traditional work timeline and achieve financial independence before the usual retirement age of 60. The National Pension System (NPS) is an excellent option for those seeking early retirement, offering a balanced combination of wealth creation, tax benefits,…
Source: Live Mint The unveiling of NPS Vatsalya, a contributory pension scheme for children, by Union finance minister Nirmala Sitharaman, first announced in her 2024-25 budget speech, marks an important step towards the social security of our citizens. The National Pension System (NPS) was envisaged in 2004 as a jointly funded contributory pension scheme for…
Source: Business Standard Saving, Save Money, Economy, Money(Photo: Shutterstock) NPS Vatsalya is a specialized scheme within the National Pension System (NPS) designed specifically for children. Under NPS Vatsalya, parents can begin saving for their child’s retirement even before their kids turn 18.When the child reaches 18, NPS Vatsalya will seamlessly convert into a regular…
Source: Live Mint NPS Vatsalya is a new initiative within the National Pension System dedicated to securing the financial future of children. Union Finance Minister Nirmala Sitharaman launched the NPS Vatsalya Yojana, which was announced in the July Budget 2024, on Wednesday, September 18. It will be managed under the Pension Fund Regulatory and Development…
Source: Live Mint In this world nothing can be said to be certain except for death & taxes. – Benjamin Franklin. Effective tax planning allows salaried employees to optimise their post-tax earnings. A crucial aspect of tax planning for middle class salaried employees is leveraging deductions and exemptions within legal guidelines, defer taxes and take…
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…
Source: Live Mint With the UPS (Unified Pension System) soon to become a reality in the next financial year, several government employees may decide to opt out of National Pension System (NPS) for UPS. It is noteworthy that the UPS will for the time being be open only for the central government employees, which means…
