Author: Naresh Saini

If you’re working in a private job, your Employees Provident Fund (EPF) can be a lifeline in times of need. Managed by the Employees Provident Fund Organization (EPFO), your EPF account allows you to withdraw funds in specific situations. However, there’s always the risk of your claim being rejected, which can be a major setback, especially when you need the money urgently. Recently, EPFO released guidelines to help subscribers avoid common mistakes that lead to rejection. Let’s dive into the critical factors you need to consider to ensure your claim is processed smoothly. 1. Ensure Your KYC Details are Complete…

The National Pension System (NPS) is a government-backed scheme that helps individuals secure a stable income after retirement. While the scheme itself is designed for long-term pension benefits, there’s a smart strategy that can significantly increase your returns—regularly increasing your investment through a top-up method, similar to how SIP works in mutual funds. By following a disciplined investment approach and topping up your contribution yearly, you can ensure a comfortable post-retirement life with a hefty pension. Let’s explore how this method works and why it’s more effective than a fixed contribution plan. Why You Should Consider Top-Up Contributions in NPS…

The government is set to address a key issue that has been troubling policyholders for a long time—GST on insurance premiums. Currently, health and life insurance premiums attract an 18% Goods and Services Tax (GST). However, there is growing demand to either reduce or completely exempt these essential services from taxation. To resolve this matter, a Group of Ministers (GoM) is scheduled to meet on October 19 to discuss the potential reduction in GST on insurance premiums. This move comes after the GST Council, in its recent meeting, decided to form a committee to evaluate the current tax structure and…

When it comes to investing, many people are often confused between options like Systematic Investment Plans (SIP) and Recurring Deposits (RD). Both offer ways to save regularly, but they cater to different risk profiles, returns, and financial goals. Knowing which one to choose is crucial to making the right financial decision. In this article, we’ll explain SIP and RD in simple terms and compare them based on factors like returns, risks, flexibility, and more. What is SIP? A Systematic Investment Plan (SIP) allows you to invest a fixed amount of money at regular intervals, usually monthly, into mutual funds. SIPs…

Many people dream of a financially secure retirement, but for some, regular investments in retirement plans can be difficult due to financial constraints. While mutual funds and market-linked plans have gained popularity, they carry risks as they fluctuate with the market. However, if you’re looking for a stable, guaranteed income after retirement, LIC’s New Jeevan Shanti plan offers a fantastic option. With this policy, you can invest just once and enjoy a lifelong pension, ensuring that your retirement is free from financial worries. Guaranteed Pension for Life with a Single Investment LIC (Life Insurance Corporation of India) has been known…

Delhi’s traffic violators might soon face higher vehicle insurance premiums. The city’s Lieutenant Governor, VK Saxena, recently sent a proposal to Union Finance Minister Nirmala Sitharaman, suggesting that insurance costs be linked to the number of traffic violations registered against a vehicle. The proposal aims to improve road safety by promoting better driving habits. High accident rates linked to over-speeding and red-light jumping In his letter, Saxena highlighted the alarming accident statistics in India. According to the Ministry of Road Transport and Highways (MoRTH), India witnessed more than 4.37 lakh road accidents in 2022, leading to over 1.55 lakh deaths.…

Gold has always been seen as a safe and valuable asset, especially during economic uncertainty. Recently, countries like India and China have increased their gold reserves, pushing global gold prices to record highs. However, India, despite being one of the largest consumers of gold, falls behind when it comes to official gold reserves. So, which countries have the most gold? The US Tops the List The United States holds the largest amount of gold in the world, with a staggering 8,133 tonnes in its reserves. This puts the US far ahead of any other nation. Germany Follows as Europe’s Leader…

The Central Government Health Scheme (CGHS) has introduced new rules aimed at making healthcare services easier and quicker for central employees and pensioners. The updated guidelines, released by the Ministry of Health, focus on streamlining emergency care and simplifying the referral process for consultation and treatment in both government and empanelled private hospitals. With these new regulations, CGHS cardholders can now receive timely treatment in emergencies without the previous hurdles. Emergency Treatment Now Available Without Referral In a significant move to improve healthcare for CGHS beneficiaries, the new rules state that hospitals will no longer need referrals or endorsements from…

Saving money when your income is limited might feel overwhelming, but it’s not impossible. With the right financial habits and a clear plan, you can set aside money every month, no matter how small the amount. Building a savings habit can lead to long-term financial security and a stress-free future. If you’re looking to save on a low income, here are some simple and effective strategies to start today. Start with a Budget and Stick to It The first step in saving money is creating a monthly budget. On the first day of the month, review your income and note…

NPS Vatsalya is a new pension scheme designed specifically for children, aiming to help parents invest for their child’s future. Launched as part of the National Pension System (NPS), this scheme converts into a regular NPS account when the child turns 18. But is it the right choice for your child’s future financial security? Let’s take a look at the advantages and disadvantages of this scheme to help you decide. What is NPS Vatsalya? NPS Vatsalya allows parents or guardians to open an account in the name of their child. The main idea behind the scheme is to promote long-term…