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In March 2022, the EPFO lowered the interest rate of 8.10% for the fiscal year of 2021-22. On 30 August 2022, EPFO proposed to remove the restrictions on the wage ceiling and headcount to allow all formal workers and self-employed to enrol in its retirement saving schemes.
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 ...
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 ...
Your money in these traditional retirement accounts has grown tax-deferred, meaning you haven't paid taxes on it. You can tap into these accounts penalty-free once you’re 59 1/2 or older.
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It deals with the money received by the Indian Government, i.e. state provident funds, various pre-deposits under national small savings fund, depreciation and reserve funds of departmental undertakings, national defense fund, etc. are paid into public accounts. These funds do not belong to the government, they have to be paid back at some time ...
In 2021, withdrawal rules at the time of maturity was changed, and a person can withdraw entire NPS corpus lump sum if it is Rs 5 lakh or less, but 40% will be taxable. [16] [17] Contributions to NPS receive tax exemptions under Section 80C, Section 80CCC, and Section 80CCD(1) of the Income Tax Act. Starting from 2016, an additional tax benefit ...
Costco has issued a recall for a cold and flu medication, sold at its stores at the end of 2024, over concerns of contamination.. The retail giant, in an advisory issued on Jan. 2, said Kirkland ...