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Posted under Get Ahead on 16 Jun,17 4:12p.m.
The government has Aadhaar number mandatory for the opening of bank accounts and for any financial transaction of ₹50,000 and above.Also the existing bank account holders have been asked to furnish the Aadhaar number issued by the Unique Identification Authority of India (UIDAI) by December 31, 2017. Beyond December 31, 2017, accounts till cease to be operational without Aadhar.The government in i....
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Posted under Get Ahead on 01 Apr,17 1:01p.m.
The interest rate on one of the most popular small savings schemes--the Public Provident Fund or PPF--is cut by 10 basis points to 7.9 per cent, the lowest level since 1980. The interest rate on other small savings schemes, namely, Kisan Vikas Patra, Senior Citizen Savings Scheme and National Savings Certificate, is also cut by 10 basis points (100 basis points is equal to one per cent). Sukanya S....
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Posted under Get Ahead on 23 Mar,17 7:22p.m.
The government has come up with the guidelines related to the Pradhan Mantri Awas Yojana (Urban).This interest subsidy scheme has been named as 'Credit Linked Subsidy Scheme for Middle Income Groups - CLSS(MIG)'.According to the Credit Linked Subsidy, which is a part of the PMAY scheme, middle-income groups with incomes in the eligible range will get an interest rate subsidy of 3-4 per cent.Initia....
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Posted under Get Ahead on 18 Mar,17 9:14p.m.
Soon you may be able to withdraw 90% of your PF amount for the down payment for the home purchase.The labour ministry, which controls the Employees’ Provident Fund Organisation (EPFO), informed the Rajya Sabha on Wednesday that it intends to amend the law to allow subscribers to withdraw up to 90% of their savings to buy or build homes.EPFO subscribers will also be able to pay their home loan....
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Posted under Get Ahead on 09 Mar,17 4:20p.m.
The relaxed rule for GPF withdrawal will benefit around 50 lakh central government employees as subscribers can withdraw the outstanding money for purpose of education - including primary, secondary and higher education, covering all streams and institutions. Money can also be withdrawn for expenses such as marriage and other ceremonies of self or family members and dependants, illness of sel....
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Posted under Get Ahead on 07 Mar,17 10:44p.m.
More than eight crore members of the Employees’ Provident Fund, can now opt to move their retirement savings to the National Pension System overseen by the Pension Fund Regulatory and Development Authority (PFRDA) – over two years after Finance Minister Arun Jaitley had promised such an alternative for employees in the Budget for 2015-16.The PFRDA notified the procedure for EPF members to transfer....
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Posted under Get Ahead on 20 Feb,17 7:37p.m.
The Employees' Provident Fund Organisation or EPFO is expected to soon launch an online facility for withdrawal of provident fund (PF) money and pension fixation. The launch of this facility will not only ease the process for subscribers but also speed up the processing time. "The process of connecting all field offices with a central server is going on. We may introduce the facility for online su....
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Posted under Get Ahead on 16 Feb,17 8:55p.m.
According to provident fund norms, 12 per cent of an employee's salary goes into the fund along with a matching contribution from the employer. The PF money can be withdrawn after two months from the cessation of employment. The application form in this regard can be filed with PF authorities, or through the employer.Here are five things to know:If the withdrawal from a recognised PF happens after....
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