The central government is likely to constitute the 7th Pay Commission for revising the salaries of its over 50 lakh employees.
Here's a look at six macro triggers that may move your market today
A diversified portfolio will prevent investment managers from getting carried away by the prospect of gain and is in the interest of policy holders.
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.
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.
You must set in place a systematic investment plan so that you derive the benefit of cost averaging.
If you thought the New Year will be challenging for you as an investor then you're right. The outlook is quite gloomy, indeed.
Here's a look at the seven triggers that are expected to move the market today
The government may defer further investment of employees provident fund money in LICHF till investigations into the multicrore bribes-for-loan scam.
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.
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 is considering a proposal that can reduce govt’s borrowing costs, bring long term savings into cashstrapped infra sectors.
According to SEBI chairman M Damodaran, the fear is completely unsubstantiated and pension funds should invest in the stock market.
"My requirements seem ambitious. So I need guidance on how to streamline my finances and achieve my goals.” — Ravi Agarwal
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.
"I want to know how to build a contingency fund and my financial road map for the future.” — Hemant Kumar
"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
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.
Govt employees contributing to the National Pension System will be allowed to invest a bigger slice of their retirement savings in equities.
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 dismissed a writ petition by a cooperative bank seeking a direction to the Tamil Nadu government to pay the provident fund arrears.
Recommendation to devise a mechanism to ensure a min assured return to subscribers of NPS flies against the raison d'etre of the NPS.
Instead the Government should review the outdated small savings schemes and not the rules governing them.
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.
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.
Finance Minister P Chidambaram has sought to suggest that the Employees' Provident Fund Organisation (EPFO) may invest funds in high yielding instruments.
“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.
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).
Nine different bosses have been thrust over the past four years upon the EPFO, which is ten times bigger than the UTI.
The simple exercise of planning or seeking professional advice can not only ensure the achievement of goals but also peace of mind.
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.
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.
Investment in an Equity-Linked Savings Scheme (ELSS) of a mutual fund can yield higher returns compared to other instruments like PPF and NSC.
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.
Job hopping does get you a fatter pay packet, but don’t forget to carry your provident fund account along.
Decks have been cleared for clubbing of allowances with basic pay for PF deductions under the EPFO scheme, a move that will increase savings.
Lay off exempt funds; rather, allow them to migrate to the New Pension System.
The NDA government has also decided to put all public-private partnerships (PPPs) in the road sector on hold for two to three years.
In keeping with market realities, the finance and investment panel has asked the EPFO to maintain an 8% interest payout for FY06.
The Employees Provident Fund Organisation (EPFO) should not waste any more time in putting its house in order.
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.
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.
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.
It works on real time basis and the system would be in place across India within a year.
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.
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.
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
Domestic companies have been asked to divulge details of their foreign employees to the Employees Provident Fund Organisation (EPFO).
The FinMin's plan that the EPFO invest up to 5% of its corpus in the stock market has been rejected.
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.
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.
Given the huge investment and the monthly instalment outgo, it is important to be financially ready to make the purchase.
Govt is seriously looking at a proposal to make it compulsory for such trusts to hire professional advisors. Gainers & Losers | Views & recommendations
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.
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.
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.
Continue your regular contributions to EPF/PPF irrespective of when you plan to retire, advises Gaurav Mashruwala.
They will need to improve their asset allocation and investment pattern to be able to achieve all financial objectives and secure their future.
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).
By making judicious use of existing resources & planning future investments, Sampagaonkars can ensure that they achieve their financial milestones.
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.
Workers will have the freedom to invest more than the contribution rate, if they want a higher pension income.
The government on Monday announced an interest rate of 8.5%, for nearly four crore subscribers of the EPF scheme.
The labour ministry has said that equity investments would only be possible after the finance ministry fills in some information gaps.
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.
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.
Jaitley & his team have started work on Budget 2018. Here are 25 suggestions that will make life easier for common taxpayers, investors and consumers.
The Industry Ministry has proposed that small and medium enterprises should be allowed to outsource their statutory obligations.
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.
The surplus in interest suspense account will give the EPFO cushion to maintain at least the 8.5% return even in bad years.
The new policy, effective from July 1, 2011, will replace the Industrial Policy of 2006 much before its extended term expires on Dec, 2011.
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.
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.
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.
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.
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%.
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.
Insurance regulator, IRDA bars entry of new managers into GPS. The pension component will become a part of basic salary.
Ideology has triumphed over common sense at a meeting of the board of trustees of the EPFO.
Panigrahi is an HR professional living with his father in a rented accommodation in Delhi. He belongs to Odisha and has parental property there.
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
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.
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.
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.
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.
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:
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.
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.
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.
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.
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.
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.
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 unions have joined the issue, demanding that the 9.5% rate decided by the central board of trustees of EPFO be confirmed immediately.
This budget could see the Modi government announcing some populist policies that might spread some warmth and cheer this winter.
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.
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.
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.
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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