Good news for Employee Provident Fund (EPF) subscribers! From the next fiscal, EPF account holders would not need to file EPF transfer claims while switching jobs as the process would be automated. How EPF Transfers would work from FY 2019-20 According to a senior labour ministry official, Employee Provident Fund Organization (EPFO) is currently testing…
EPF subscribers often face confusions regarding operations and services available under the scheme. In order to address, process and resolve the consumer’s issues, the EPFO has formulated various platforms & robust grievance management systems. There are online as well as offline platforms ensuring efficient monitoring of all the complaints. So, if you also have some…
On 13th May 2020, the Government announced a reduction in the EPF contribution rate from 24% to 20% of the salary, for private sector firms, for the next three months. As a consequence of this change, it is believed that employees will be able to benefit from a higher take-home salary and employees will be…
Employees’ Provident Fund (EPF) and Public Provident Fund (PPF) are the two most popular retirement saving schemes in India. Since both are government backed and long-term retirement products, there is a lot of confusion among the investors regarding these investment products. Therefore, if you are planning for building a large retirement corpus, it becomes important…
The Pradhan Mantri Jeevan Jyoti Bima Yojana was started by the then Finance Minister, Mr. Arun Jaitley in the annual financial budget of 2015. The scheme was actually launched by the Prime Minister, Mr. Narendra Modi in Kolkata considering the fact that as of the mentioned year (May 2015), only 20% of the country’s population…
An Aadhaar Card is a 12-digit unique identification number which is issued by ‘The Unique Identification Authority of India (UIDAI)’ and is considered to be one of most important documents for verifying the identity of Indian Citizens. It contains both the demographic and biometric details of the cardholder. Moreover, an Aadhaar Card is used to…
The banking sector in India is making crucial changes in banking mechanisms by introducing digital means of accessing financial and non-financial services. Mobile banking and internet banking have undergone a prolific growth with instant payment systems and much more. Top banks in India have launched not just intuitive but also very interactive and innovative mobile…
