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The Employees' Provident Fund Organisation (EPFO) holds a pivotal role in India's social security system, dedicated to ensuring the financial security of employees. Operating under the jurisdiction of the Government of India's Ministry of Labour and Employment, the EPFO is entrusted with the regulation and oversight of provident funds in the ...
Any individual who is a subscriber of NPS can claim tax benefit for Tier-I account under Sec 80 CCD (1) within the overall ceiling of ₹1.5 lakhs under Sec 80 C of Income Tax Act. 1961. [12] An additional deduction for investment up to ₹50,000 in NPS (Tier I account) is available exclusively to NPS subscribers under subsection 80CCD (1B).
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 ...
Finance Secretary: Tuhin Kanta Pandey,IAS: 7 September 2024 [8] Defence Secretary: Rajesh Kumar Singh,IAS 1 November 2024 [9] Foreign Secretary: Vikram Misri,IFS 15 July 2024 [10] Law Secretary: Vacant Secretary General, Lok Sabha: Utpal Kumar Singh, IAS 30 November 2020 Secretary General, Rajya Sabha: Pramod Chandra Mody, IRS (IT) 12 November ...
Implementing tax-efficient withdrawal strategies will help you maximize your retirement savings. Here are three strategies you can use: Withdraw from taxable accounts first. It is a good idea to ...
The new law ramps up the age you must start withdrawing required minimum distributions, or RMDs, from individual retirement accounts.
Provident fund is another name for pension fund.Its purpose is to provide employees with lump sum payments at the time of exit from their place of employment. This differs from pension funds, which have elements of both lump sum as well as monthly pension payments.
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