On March 31, 2020, the government announced a steep cut in the interest rates on small saving schemes. Public Provident Fund (PPF) will now fetch 7.1% interest rate for Q1 2020-21 (April to June). Likewise, interest rates on other saving schemes like Sukanya Samriddhi Yojana and National Savings Certificate also dropped by 0.8% and 1.1%…
Pension receivable under EPS is set to increase significantly for private employees after the Supreme Court verdict dismissed a special leave petition filed by the EPFO (Employees Provident Fund Organisation). The special leave petition from EPFO was made against a Kerala high court judgement that instructed that pension pay out under EPS (Employees’ Pension Scheme)…
The Post Office has launched an online investment facility for several of the schemes and accounts that you can open with it. The facility has been made available for Post Office Savings Account, Post Office Term Deposit, Recurring Deposit, Public Provident Fund (PPF) and National Savings Certificate (NSC). Eligibility for starting online Post Office Investments…
Widely used as one of its kind investment instruments for tax saving and long-term growth in terms of returns generated, Public Provident Fund has become a popular choice amongst the salaried individuals. PPF scheme is a long-term investment option offering returns on the invested amount. All you should know about PPF Account A PPF account…
Employee Pension Scheme (EPS) is a social security measure which has provisions of a government guaranteed pension for the employees working in the organized sector. EPS is provided by Employee Provident Fund Organization (EPFO) after the retirement of the employee at the age of 58 years. The scheme first came in existence in 1995 and…
The Union Ministry of Consumer Affairs, Food and Public Distribution has extended the linking of Aadhaar-Ration card till 30th September 2020 for all the states and Union territories due to ongoing lockdown amid global pandemic. It also clarified that if an applicant fails to provide Aadhaar number within the set time framework, his/her ration card will not be cancelled. The Ministry…
Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme launched by the Central Government. It renders an extended coverage to under localised risks, post-harvest losses, etc., focuses on generalising technology for estimation of crops and of course, encouraging crop insurance. The scheme has replaced all the other crop insurance schemes in India. Nonetheless,…
