The Employees’ Provident Fund Organisation (EPFO) has come out with clarifications for many doubts regarding computation of the shortfall in contribution and accrued interest for those opting for the higher pension scheme. The provident fund body has notified the replacement mechanism for 1.16% additional contribution that the members were required to pay on a wage […]
Netflix: How to transfer profile to a new account
Netflix officially began its crackdown on password sharing in the US. The streaming service is sending out emails to all US subscribers who share passwords with another user outside their household to limit the act. “Your Netflix account is for you and the people you live with — your household,” Netflix wrote in the email. […]
These saving schemes offer higher interest rates than bank fixed deposits (FDs). Who should invest?
Higher interest rates than bank FDs on these saving schemes: If you are thinking of investing your money, and don’t want to take a risk, then apart from bank fixed deposits (FDs), you can even put your money in Post Office Saving Schemes. Apart from the lucrative interest rate, investing in these schemes offer a […]
If you don’t reply to income tax dept’s queries, ITR likely to be picked for full scrutiny: CBDT
The Central Board of Direct Taxes (CBDT) has issued guidelines for selecting income tax returns (ITRs) for complete scrutiny. The guidelines are applicable for the current financial year i.e., 2023-24. As per the guidelines, the income tax department will pick up tax returns for scrutiny on the basis of where the survey was conducted in […]
India Records 552 Covid Cases In 24 Hours, 6 Deaths
The number of deaths has increased to 5,31,849 with six deaths which includes three fatalities reconciled by Kerala, the data updated at 8 am stated. New Delhi: India has recorded 552 new coronavirus infections while the active cases have decreased to 6,591 from 7,104, according to the Union Health Ministry data updated on Wednesday. The […]
Does eligible employee have an exit option to get out of higher EPS pension application?
The Employees’ Pension Fund Organisation (EPFO) issued a circular on May 11, 2023, clarifying that eligible employees and pensioners are required to provide a written consent within a specified time limit to transfer or deposit the funds from their Employees’ Provident Fund (EPF) account to the Employees’ Pension Scheme (EPS) account. According to the circular, […]
You can start exchanging Rs 2,000 notes from May 23, 2023
If you are one of those people who wants to exchange their Rs 2000 notes at the earliest, you can visit the bank today to exchange the Rs 2000 notes from today.The facility for deposit or exchange of Rs 2000 banknotes will be available up to September 30, 2023. The Reserve Bank of India (RBI) […]
Do mutual funds offer compounding benefits?
There is a new idea around that there is no compounding benefit in mutual fund investment. This seems to have started as one of those social media attention-getting statements and has taken on a life of its own. I see ‘finfluencer’ types repeating this as a great piece of revealed wisdom, implying that this is […]
Unclaimed deposits in bank savings accounts, Fixed Deposits (FDs): How to get your money back explained here
The Reserve Bank of India (RBI) recently announced a ‘100 Days 100 Pays’ campaign for banks to trace and settle the top 100 unclaimed deposits of every bank in every district of the country within 100 days. The banks will start the campaign on June 1. What are unclaimed deposits? The balances in savings or […]
Update Aadhaar card details online: Free offer available till June 14
The Unique Identification Authority of India (UIDAI) has made online updation of Aadhar documents free till June 14, 2023. Usually, it costs a fee of ₹50 to update the Aadhaar details. However, till 14 June, updating demographic details online via UIDAI’s official website will be free of cost. It is important to note that this […]