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      Employees’ Pension Scheme (EPS): Should You Opt for Deferred Withdrawal?

      Wednesday, August 30th, 2017 Amritesh 4 responses

      Recently, Government made amendments to the Employees Pension Scheme (EPS) norms allowing Subscribers to defer withdrawal of pension (After 58 years) for minimum of 1 year and maximum of 2 years along with additional interest of up to 8.16% on actual pension. The amendments offer two options to the Subscriber with regard to deferred withdrawal of pension fund. First, the Subscriber may continue to contribute to the Pension Fund for the extended period and the same will be considered while calculating Pensionable Salary and Pensionable Service. Second, the Subscriber decides to defer the withdrawal for 2 years but opts not to contribute during the deferment period. Employees' Pension Scheme (Series-1) Benefits Under Employees' Pension Scheme (Series 2) Calculation Of Pension…

      Employees’ Pension Scheme (EPS): Increase Your Pension with Deferred Withdrawal

      Monday, August 28th, 2017 Amritesh 2 responses

      Government recently made few amendments to the Employees’ Pension Scheme (EPS). These amendments are aimed at reducing the deficit in Pension Fund and provide Subscribers with an option to receive higher pension. The new changes allow Subscribers to defer withdrawal of pension for 1 year or 2 years after reaching the age of 58 but not beyond 60 years. Member will enjoy an additional increase of 4% in case of deferral for 1 year and 8.16% in case of deferral for 2 years. Members will also have the option to contribute to the Pension Fund till the age of 60 which would be included while calculating pensionable service and contribution period. Members who do not wish to contribute during the…

      Power Of Compounding: Invest Early Reap Huge

      Thursday, August 17th, 2017 Amritesh no responses

      “Principle of Compounding” is a very powerful tool in Finance and Economics. Compounding in simpler terms means interest being added to the principal, thus the addition of interest to the principal is called compounding. “Principle of Compounding” means that not only the principal amount earns interest but the interest amount also earns interest (interest on interest). Thus "Power of Compounding" facilitates accelerated growth of Wealth. COMPOUNDING IN PERSONAL FINANCE In “Personal Finance” it is very important to understand the power of compounding as you plan your investment or even when you plan to take a loan. In modern times all the interest calculation is Compounded irrespective of it being a Financial Institution, Bank or any other organization. Hence one has to…

      Direct Equity or Equity Mutual Funds: Plan Your Investment

      Saturday, August 5th, 2017 Amritesh 3 responses

      Investment decisions at times can be very confusing and cumbersome. In current market you have plethora of financial products to chose from which makes the task even more tedious. However, Each Financial Product is designed to meet specific needs and one should understand their purpose before deciding to invest. Pure Investment product is something which should be considered by Individuals as it offers better returns when compared to other Investment Instruments. In this post discussion is on, whether to invest in Direct Equity or Equity Mutual Funds. Direct Equity or Equity Mutual Funds are stock market oriented investment options. Direct Equity Investment is a viable option only for Individuals who have good knowledge about the Stock Market and can afford to…

      Portfolio Management: 5 Must Have Investments For Every Individual

      Thursday, July 27th, 2017 Amritesh no responses

      Individuals are often confused when it comes to Investments. It is primarily due to the fact that wide range of products is available for investment. Individuals are often influenced by friends, relatives or even the promotional campaigns used by the BFSI (Banking, Financial Services and Insurance) companies. Thus, in this post I will discuss the 5 most popular Investment Product which every Individual should try to include in their portfolio. The aim is to ensure an ideal balance between Investment, Insurance, Risk and Return. Portfolio Management aims at efficient allocation of funds to avail the  best returns on investment. The most important aspect which one should keep in mind while managing their portfolio is to diversify funds into various Investment…

      6 Ways To Save Tax: All You Need To Know

      Thursday, July 20th, 2017 Amritesh one response

      Tax Planning is the evaluation of individual’s financial position from the tax point of view so as to optimize the Finances in the most efficient way. It helps to make optimal use of the tax benefits available in order to reduce the tax liability during the financial year. Tax Planning is the best method of reduce Tax Liability and utilize the tax exemptions provided on the Income. Tax Planning is the ethical mean to reduce the tax liability through proper tax exemptions channels available to the Tax Payers. Most of the Individuals are aware of the Tax Deductions available U/S 80C up to the maximum limit of Rs 1,50,000/-. However, Individuals are eligible to avail additional deductions under some of…

      EPS vs NPS vs APY: Retirement Benefit Comparison

      Tuesday, July 18th, 2017 Amritesh no responses

      Retirement Planning is not just about saving for the future rather it involves systematic approach towards accumulation of corpus which would be sufficient to meet the financial obligations post retirement. Individuals may avail various retirement plans provided by the Insurance Companies or invest in Mutual Funds or Public Provident Fund (PPF) which provides lump sum or regular income post retirement. However, many are often confused or not aware of the probable retirement benefit plans which they can avail. Government is also very serious regarding the same as it wants individuals to plan for the retirement while they are young and earning. It has launched various schemes and created awareness about it so that more and more individuals avail those schemes…

      Atal Pension Yojana (APY): Online Account Statement For The Subscribers

      Tuesday, June 13th, 2017 Amritesh 2 responses

      Subscribers to the Atal Pension Yojana (APY) may now download the statement of their contribution to the scheme online by providing the relevant account related information. APY does provide hard copies of the statement but many of the subscribers are not in receipt of the same. However, for Income Tax declaration and various other purpose the statement is often required. Contribution to Atal Pension Yojana (APY) is eligible for Tax Deduction U/S 80 CCD (1b) thereby making it a decent retirement plan for the individuals. Individuals aged between 18-40 years are eligible to subscribe to the scheme. The minimum monthly contribution which may be made to the scheme is Rs 42/- while maximum monthly contribution is capped at Rs 1,454/-…

      FATCA Compliance for National Pension Scheme (NPS)

      Saturday, June 3rd, 2017 Amritesh one response

      Subscribers to the National Pension Scheme (NPS) are now required to complete the FATCA Compliance online. The option is available to the Subscribers to complete the compliance by logging onto the portal and submitting the required information. It is mandatory for the Subscribers who have subscribed to the scheme on or after 1st July, 2014 to be FATCA compliant. National Pension Scheme (NPS) is the retirement benefit plan for the Individuals aimed at providing better standard of living during the old age. The online certification is also mandatory for the Subscribers who have already sent physical documents to CRA for the same purpose. Earlier, Central Recordkeeping Agency (CRA) had announced Subscribers need to send the hard copies of the documents…

      Annuity Retirement Plans: Types and Benefits

      Sunday, May 14th, 2017 Amritesh no responses

      Life is short but our career is even shorter. Hence, when planning for future it is always advisable to plan for your retirement as well. The earlier you start the better it is to plan your investment. Annuity is a Financial Product offered by Insurance Companies, aimed at providing steady source of income to the Annuitants (Purchaser of Annuity Plans). The primary aim of such plan is to provide financial cover on retirement to the individuals, and ensure that one is able to sustain him/herself. It is one of the retirement benefit plan which may be considered by Individuals who are looking at steady income plans post their retirement. There are primarily two types of Annuity Plans currently offered in…