The government is taking steps to modernise the services of the Employees’ Provident Fund Organisation (EPFO) to enhance user experience. Meanwhile, the EPFO’s Central Board of Trustees (CBT) will meet on February 28 to decide the interest rate on EPF deposits for the financial year 2024-25. EPFO Interest Rate Decision The CBT, led by the …
Private sector employees under the Employees’ Provident Fund Organisation (EPFO) have long sought an increase in their minimum pension, which has remained at ₹1,000 per month since 2014. Under the current system, EPF members contribute 12% of their basic salary towards the provident fund, with employers matching this contribution. Of the employer’s share, 8.33% is …
The wait for the 19th installment of the PM Kisan Samman Nidhi (PM-KISAN) Yojana is finally over, as Prime Minister Narendra Modi is set to transfer the funds directly into farmers’ accounts with a single click on February 24, 2025, during his visit to Bihar. More than 9.8 crore farmers, including 2.41 crore female farmers, …
The financial year 2025-26 brings double good news for salaried individuals. Finance Minister Nirmala Sitharaman has announced generous income tax cuts, boosting disposable income for many taxpayers. Additionally, annual increments and performance bonuses typically disbursed around this time further contribute to higher earnings. For home loan borrowers, this extra cash presents a valuable opportunity to …
In today’s world of digital payments and impulsive shopping, managing money wisely is more important than ever. One effective way to do this is through Kakeibo (pronounced kah-keh-bo), a Japanese budgeting technique that has been around for over 100 years. What is Kakeibo? Kakeibo, which means “household finance ledger,” was introduced in 1904 by Hani …
The government has finally ended the wait on the much-awaited 19th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM Kisan) scheme. As per news reports, PM Kisan 19th Instalment is set to be released in the last week of February 2025. The news reports further stated that PM Narendra Modi is scheduled to visit …
The Employees’ Provident Fund (EPF) is a trusted savings plan for salaried employees, representing the combined contributions of both the employee and the employer. As a long-term savings vehicle, it offers financial security for employees when they retire or change careers. To effectively manage your retirement savings, it’s important to keep track of your EPF …
The Indian Rupee (INR) has depreciated by approximately 3.5% against the US Dollar over the past 6 months. While this may raise concerns about inflation and higher import costs, it presents an advantage for Indian investors holding US-focused mutual funds and stocks. When the rupee weakens, the value of US-denominated assets rises in rupee terms. …
Life Insurance Corporation of India (LIC) has introduced the New Smart Pension Plan, a non-linked, non-participating individual savings annuity plan. This single premium immediate annuity plan offers multiple options to suit different financial needs. If you are considering investing in this retirement scheme, here are the key details: Can You Buy It with Someone Else? …
The government is working on a new feature that will allow Employees’ Provident Fund (EPF) subscribers to withdraw their funds using the Unified Payments Interface (UPI). This move aims to make fund transfers faster and more convenient for members. EPF to Be Linked with UPI Soon The Employees’ Provident Fund Organisation (EPFO) has developed a …
