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Cabinet proposal soon to constitute 7th Pay Commission

The central government is likely to constitute the 7th Pay Commission for revising the salaries of its over 50 lakh employees.

need2know: Six macro triggers that may move your market today

Here's a look at six macro triggers that may move your market today

LIC should innovate solutions, rather than toying with regulations

A diversified portfolio will prevent investment managers from getting carried away by the prospect of gain and is in the interest of policy holders.

New retirement funds are no different from tax-saving ELSS schemes

Unless you are getting some special tax-break or employer contribution, you are free to keep any investment intact till retirement and that’s a retirement plan.

EPFO retains 8.5% rate for 2006-07

Almost four months after the end of financial year 2006-07, the government on Monday announced an interest rate of 8.5%, the same as in 2005-06, for nearly four crore subscribers of the EPF scheme.

How to make tax-saving investments a part of the overall financial plan

You must set in place a systematic investment plan so that you derive the benefit of cost averaging.

Why 2017 is unlikely to cheer investors

If you thought the New Year will be challenging for you as an investor then you're right. The outlook is quite gloomy, indeed.

need2know: 7 triggers to make the market move today

Here's a look at the seven triggers that are expected to move the market today

No EPFO investment in LICHF till loan scam probe ends

The government may defer further investment of employees provident fund money in LICHF till investigations into the multicrore bribes-for-loan scam.

Why a permanent portfolio is a good option for passive investors

A permanent portfolio allocates 25% each to equity, debt, gold and cash. Our 15-year study shows that it delivers returns comparable with equities and is best suited for passive investors.

EPFO to go online in next one and half year

Nearly four crore subscribers of Employees Provident Fund Organisation would be able to access their accounts at a click of a mouse as the EPFO plans to go online soon.

Finance Ministry may raise wage cap for provident fund to Rs 15,000 per month

Finance ministry is considering a proposal that can reduce govt’s borrowing costs, bring long term savings into cashstrapped infra sectors.

SEBI chief seeks to dispel pension funds' market fears

According to SEBI chairman M Damodaran, the fear is completely unsubstantiated and pension funds should invest in the stock market.

High saving ratio, realistic goal values to help Agarwal secure his finances

"My requirements seem ambitious. So I need guidance on how to streamline my finances and achieve my goals.” — Ravi Agarwal

Reliance Capital up 5% on EPFO mandate

Reliance Capital shares were up 5.39 per cent at Rs 1,285.50 on Wednesday, with the Employees’ Provident Fund Organisation nominating the company, besides HSBC, ICICI Prudential, to manage fresh additions to the EPF corpus.

Kumars need higher equity exposure to realise financial goals

"I want to know how to build a contingency fund and my financial road map for the future.” — Hemant Kumar

Vikram Singh to reap benefits of starting financial planning early

"I need to know how and where to invest for five years because I want to get my sister married after this period.” — Vikram Singh

Pension fund deficit swells to Rs 54K crore

The Employees’ Pension Scheme of 1995, where up to a third of workers’ provident fund contributions are parked, is facing a shortfall of Rs 54,000 crore.

Government staff to be allowed to put more money in equities under National Pension System

Govt employees contributing to the National Pension System will be allowed to invest a bigger slice of their retirement savings in equities.

Unions oppose finance ministry's proposal to offer EPFO members NPS scheme

The Finance Ministry has said the NPS scheme provides better returns than EPS-95 run by the Employee's Provident Fund Organisation (EPFO) at present.

HC dismisses cooperative bank's plea on PF

HC dismissed a writ petition by a cooperative bank seeking a direction to the Tamil Nadu government to pay the provident fund arrears.

What the government must do to make New Pension System more acceptable

Recommendation to devise a mechanism to ensure a min assured return to subscribers of NPS flies against the raison d'etre of the NPS.

Reviewing the rules governing Employees Provident Fund, Public Provident Fund and National Savings Certificates is pointless

Instead the Government should review the outdated small savings schemes and not the rules governing them.

CBI raids builders' premises

Sleuths of the Central Bureau of Investigation (CBI) today conducted raids on the premises of noted builders Hiranandani brothers who have been accused of evasing employees provident fund.

Rel Cap breaks into pension manage a trois

The central board of trustees (CBT) of the Employees’ Provident Fund (EPF) chose four asset management companies (AMCs) to manage fresh additions to the EPF corpus.

EPFO should invest in market instruments for better returns

Finance Minister P Chidambaram has sought to suggest that the Employees' Provident Fund Organisation (EPFO) may invest funds in high yielding instruments.

How Vimal Chheda can get back on investing track after loan revamp

“My financial planning was disturbed as I used all my savings to buy a house. I want to start investing again so I can achieve my goals,” says Chheda.

Not the right move

A panel led by former Sebi chairman G N Bajpai is right in recommending better financial incentives for distributors of the New Pension System (NPS).

EPFO sees 9 bosses in 4 years under UPA

Nine different bosses have been thrust over the past four years upon the EPFO, which is ten times bigger than the UTI.

Goal-linked equity investments, risk cover crucial for Patils' financial security

The simple exercise of planning or seeking professional advice can not only ensure the achievement of goals but also peace of mind.

Employers warned by EPFO for splitting salaries for lowering PF contributions

The EPFO has asked to ensure that the basic pay on the basis of which PF contribution is calculated is at least equal to the minimum wages.

EPFO open to investing in ETF of public sector units

The DoD had urged the EPFO to consider the ETF route to be opened up this year as it would be a basket of blue-chip public sector stocks.

ELSS better investment option than PPF, NSC: Crisil

Investment in an Equity-Linked Savings Scheme (ELSS) of a mutual fund can yield higher returns compared to other instruments like PPF and NSC.

EPFO to pay 9.5% on claims till new rate is decided for FY'12

Subscribers of EPFO, settling their final claims before the new rate is announced for the current fiscal, will get the existing 9.5% interest on their deposits.

Is it good to have multiple PF a/cs?

Job hopping does get you a fatter pay packet, but don’t forget to carry your provident fund account along.

Clubbing allowances with basic pay for PF deduction on cards

Decks have been cleared for clubbing of allowances with basic pay for PF deductions under the EPFO scheme, a move that will increase savings.

Egregious, EPFO

Lay off exempt funds; rather, allow them to migrate to the New Pension System.

Government open to buying equity in highway projects, puts PPPs on hold

The NDA government has also decided to put all public-private partnerships (PPPs) in the road sector on hold for two to three years.

Trustees’ board to consider panel’s views on July 30

In keeping with market realities, the finance and investment panel has asked the EPFO to maintain an 8% interest payout for FY06.

EPFO: Workers should be given a choice to move to NPS

The Employees Provident Fund Organisation (EPFO) should not waste any more time in putting its house in order.

We want to put an end to the fear linked to Inspector raj: Narendra Singh Tomar

Tomar said his ministry proposes to raise the overtime limit to 100 hours in a three month period from a maximum of 50 hours in a quarter at present.

Budget 2012: Speed up Indo-US Totalisation agreement

According to Nasscom Indians on H1 and L1 visas pay almost USD 1 billion in social security taxes in the US annually, without getting the benefits.

Trouble ahead: Income Tax department tells EPFO to tax premature PF withdrawals

The Income Tax department has asked the 3,70,000 crore EPFO to tax all withdrawals by workers with less than five years of PF savings.

EPFO goes online in six cities

It works on real time basis and the system would be in place across India within a year.

UPA’s social security package for poor workers similar to NDA’s flop scheme

UPA has asked the EPFO to write off its 'loan' it had given to implement the scheme cleared by the NDA cabinet in January 2004.

Last minute tax planning tips

If you haven't wrapped up your tax planning as the financial year draws to a close this week, here's a quick look at the available options and their suitability for you.

Wage ceiling for Employees Provident Fund may go

The government is mulling doing away completely with the employee wage ceiling of Rs 7,500 per month. Benefits of money back policy | Start investing with Rs 100

Submit foreign hands list to EPFO, industry told

Domestic companies have been asked to divulge details of their foreign employees to the Employees Provident Fund Organisation (EPFO).

EPFO runs scared of stock market gamble

The FinMin's plan that the EPFO invest up to 5% of its corpus in the stock market has been rejected.

Das must reduce expenses & increase equity exposure to meet goals

Considering Das is 41 and yet to achieve his major goals, he needs to take corrective action soon if he wants to secure his family’s finances.

Despite finmin advisory, EPFO to keep LIC HF at arm's length

The labour ministry has said it will not reconsider its decision to suspend investment of employees provident fund money in the scam-tainted LIC Housing Finance despite persuasion by the finance ministry.

Prepare your finances before buying a house

Given the huge investment and the monthly instalment outgo, it is important to be financially ready to make the purchase.

Pvt PFs may have to hire finance gurus

Govt is seriously looking at a proposal to make it compulsory for such trusts to hire professional advisors. Gainers & Losers | Views & recommendations

Aggressive saving, investing to ensure long-term financial security for Dias family

Satara-based Remeth Dias has created his own plan but wants to be sure that he is on the right track as far as his investments are concerned.

EPFO board likely to review interest rate on Mar 28

Under pressure from the Finance Ministry to lower the interest rate on Employees Provident Fund (EPF) from the present 9.5 per cent, the EPF Board is likely to meet on March 28 to review the rates for 2003-04.

India to aim for telecom manufacturing hub status

The Telecom Equipment Manufacturers Association (TEMA) has started a TEMA Export Promotion Forum which was inaugurated by the union communications and IT minister A Raja this week.

Never take loan for consumer durables, not even at 0% rate

Continue your regular contributions to EPF/PPF irrespective of when you plan to retire, advises Gaurav Mashruwala.

Pathaks should revamp their portfolio to meet financial goals

They will need to improve their asset allocation and investment pattern to be able to achieve all financial objectives and secure their future.

All private PF trusts in position to offer 9.5% returns: EPFO study

Companies that manage provident fund savings of their employees, or exempt trusts, are in position to match the 9.5% return offered by the government-run Employees Provident Fund Organisation (EPFO).

High savings, long-term goals to ease Sampagaonkars' journey

By making judicious use of existing resources & planning future investments, Sampagaonkars can ensure that they achieve their financial milestones.

Doling out surplus PF means reduced interest rate

The additional amount of Rs 1,600 crore needed to pay depositors the enhanced interest rate of 9.5% for 2010-11 may also see the interest rate on provident fund coming down to 8.5% for the next financial year.

Just merge it with NPS

Workers will have the freedom to invest more than the contribution rate, if they want a higher pension income.

PF rate for 2006-07 fixed at 8.5%

The government on Monday announced an interest rate of 8.5%, for nearly four crore subscribers of the EPF scheme.

EPFO moots parking funds in star PSUs

The labour ministry has said that equity investments would only be possible after the finance ministry fills in some information gaps.

Your guide to tax saving investments for FY17-18

If you want to make the right decisions this tax-saving season, here’s a handy guide with stories that touch upon every aspect to help you manage your tax.

CBI issues look-out notices to airports against Hiranandanis

The owners of a prominent Mumbai-based real estate company found themselves embroiled in a major scandal after the Central Bureau of Investigation (CBI) said they faced arrest and issued instructions to airports to prevent them from leaving the country.

25 ideas for Union Budget 2018 to make common man's personal finance less taxing

Jaitley & his team have started work on Budget 2018. Here are 25 suggestions that will make life easier for common taxpayers, investors and consumers.

Outsourcing of PF, insurance work in SMEs mooted

The Industry Ministry has proposed that small and medium enterprises should be allowed to outsource their statutory obligations.

How to save Rs 10 crore for retirement without taking too much risk

This is how much a 30-year-old, spending Rs 50,000 a month, will need to fund his retirement. Find out how to reach this figure in a hassle-free way.

EPFO may offer 9.5% interest on PF this year too

The surplus in interest suspense account will give the EPFO cushion to maintain at least the 8.5% return even in bad years.

Bihar's new industrial promotion policy eyes big investment

The new policy, effective from July 1, 2011, will replace the Industrial Policy of 2006 much before its extended term expires on Dec, 2011.

PF interest rate to remain 8.5% this fiscal year

The 4.4 crore subscribers of the Employees Provident Fund Organisation (EPFO) should not expect any rise in their provident fund interest rate this fiscal.

Labour Ministry torn between good economics, bad politics

Union Labour Ministry was witness to a tussel between good economics and bad politics in the year 2005 as the EPF rate slash recommendation left a bitter taste not only among four crore subscribers but angered the trade unions.

Eye on polls: Minimum PF pension of Rs 1,000 a month likely

Nearly 6 crore formal sector employees could look forward to retiring with a minimum pension of Rs 1,000 a month, in addition to their provident fund savings.

How a staggered plan will help Aakash Singh meet his monetary targets

Aakash Singh needs to cover his risks and will have to push back some of his goals to be able to accumulate funds for all his primary objectives in later life.

Govt mulling PF interest rate hike

Minister for Labour and Employment Kharge today said the govt was looking at further hiking the interest rate on Provident Fund from the present 9.5%.

Family Finances: High income, savings to ease Kumars' financial journey

The Kumars need to increase and realign their equity investments to be able to correct the heavy debt skew in their portfolio and reach all their goals with ease.

New senior managers can't enjoy group pension scheme, says IRDA

Insurance regulator, IRDA bars entry of new managers into GPS. The pension component will become a part of basic salary.

Improvident fund

Ideology has triumphed over common sense at a meeting of the board of trustees of the EPFO.

Family Finances: Low savings, poor plans act as deterrents for Panigrahi to achieve financial goals

Panigrahi is an HR professional living with his father in a rented accommodation in Delhi. He belongs to Odisha and has parental property there.

Move to hike PF may face trustees’ resistance

Labour unions’ proposal on higher contribution from employers to the Employees Provident Fund (12% to 15%) is set to face opposition from employers representatives within the Central Board of Trustees

Stuck in rate war, EPFO not to credit interest

This is no chicken feed. For the past one year, the government has been forced to pay out an 8% rate of interest, about Rs 1,20,000 crore, under the closed special deposit scheme.

Private PF trusts too will have to pay 9.5% interest

The labour ministry has said that all private provident fund trusts have to compulsorily match the interest rate of 9.5% declared by the EPFO.

Family Finances: Kumars need to increase their equity exposure, cover their risks adequately

Kumar is 34 years old and stays in Chennai with his homemaker wife Sujana, 31, and two children, aged five and one. Among his other financial dependants are his parents, who are 61 and 58 years old, and his brother.

Finance ministry okays 9.5% interest on PF, but with riders

The finance ministry has approved an interest payout of 9.5% on employee's provident fund for 2010-11, bringing cheer to millions of subscribers.

10 problems ailing Indian economy & solutions to revive it

India's GDP growth dropped to a 9-year low of 6.5% in 2011-12. Getting back to 9% is not going to be easy this time, but a few things can be done to pull the economy out of its current troubles:

Indian pension lobby debates taste of Chile

That reform in one way or another was imperative to social security systems the world over was apparent at the recent meeting of the South Asian chapter of the International Social Security Association (ISSA) here. It was noted that the existing systems in most countries suffered from consistently lower returns, exposing the urgent need to find new avenues of investment to ensure better returns.

PF trustees want PSU share halved

The Central Board of Trustees (CBT) of the Employees Provident Fund Organisation (EPFO) has proposed to the finance ministry that the percentage of EPF monies to be invested in the public sector debt instruments be cut by half to 20% from the current 40% to allow flexibility.

How smart savings and high earnings will help Bals to meet their goals

The Bals have made an early start with aggressive saving and are on track to reaching their goals. However, they will have to realign their investments and take a higher exposure to equity.

Congress defends decision on Reliance Capital

The Congress on Wednesday defended the decision to get new fund managers, including Reliance Capital, for the Employees Provident Fund claiming the proposal was pending since December 2004.

Assocham sought an increase in FDI limit

Industry body Assocham on Friday sought an increase in the proposed FDI limit in pension sector from 26 per cent to 40 per cent to manage EPS fund in an efficient manner.

Scamsters drain out PF accounts with fake claims, EPFO swings into damage-control mode

Nearly 2.5 crore, or 30 per cent, of all provident fund accounts have a negative balance, some of which may be due to fraudsters who faked withdrawal claims.

Getting rid of high debt can help Varmas reach their financial goals

To ensure a smooth financial ride, the Varmas must quickly repay their costly personal loans as also correct the skew towards real estate in their overall investment portfolio.

Labour ministry sticks to its ground on 9.5% payout on PF

Labour unions have joined the issue, demanding that the 9.5% rate decided by the central board of trustees of EPFO be confirmed immediately.

Union Budget on February 1 will be like no other

This budget could see the Modi government announcing some populist policies that might spread some warmth and cheer this winter.

How early start, high saving can help the Pandyas with planning

While Nitin Pandya may have to scale down some goals, he will be able to achieve the primary ones by diversifying his portfolio and exposing himself to equity through mutual funds.

Social security agreements: Utilise benefits to lower costs

Indian companies sending employees to work abroad typically have to contribute into the host country’s social security systems, thereby reducing their take home salary.

Why the Selarkas’ may need more than just high salary to meet all their objectives

Ujas is 36 years old and lives in Mumbai with his 35-year-old wife, Alpa, who is a homemaker, and two daughters: eight-year-old Nitya and three-year-old Jashvi.

Budget 2012: Tax rebate on 3-year bank FDs likely

If this proposal finds it way into next month's budget, it will make bank fixed deposits, which currently fetch an annual return more than 9%, an attractive savings option for individuals, and bring them on par with equity-linked tax saving schemes of mutual funds and tax-free bonds.

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