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The Public Provident Fund (PPF) is a voluntary savings-tax-reduction social security instrument in India, [1] introduced by the National Savings Institute of the Ministry of Finance in 1968. The scheme's main objective is to mobilize small savings for social security during uncertain times by offering an investment with reasonable returns ...
The relief at these rates should be given as and when there is a 16 points rise in the 12-monthly average of the All India Working Class Consumer Price Index (1960=100).” On the other hand, service pensions were revamped. Same 33/80 formula was used to work out defence pensions. There was no change in rank criteria for earning pension.
The DA Rate for Industrial Workers (since 1 January 2007 with Base year 2001=100) for 3rd Quarter (Oct-Dec), 2015 has been declared as 107.9% and that of 4th Quarter (Jan-Mar), 2016 is 112.40%. The 5th Pay Commission recommendations were implemented since 1 January 1996 and consequently DA rate with effective from 1 January 1996 became 0.
We rate the best tax software solutions — from budget-friendly options for straightforward returns to feature-rich platforms for more complex situations — to help simplify the 2025 tax season.
Source: Social Security Administration. The projected 2025 COLA for Social Security is 2.5%, according to an emailed September 11 TSCL press release, resulting in another drop.
The Board administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organised sector in India. [9] The board is chaired by the Union Labour Minister of India. Presently, the following three schemes are in operation under the Act: Employees' Provident Fund Scheme, 1952
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[13] [7] [8] [9] The changes in NPS was notified through changes in The Income-tax Act, 1961, during the 2019 Union budget of India. [14] There is no tax benefit on investment towards Tier II NPS Account. NPS is limited EEE, to the extent of 60%. [15] 40% has to be compulsorily used to purchase an annuity, which is taxable at the applicable tax ...