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  • To Whom Do the New Senior Citizen Savings Scheme (SCSS), PPF Rules Apply? Gover…

    PF & ESI,Mar. 30, 2024

    The Department of Posts issued a detailed notification regarding the amended guidelines for the Senior Citizen’s Savings Scheme (SCSS), Public Provident Fund (PPF), and National Savings Time Deposit. On November 29, 2023, the Department of Posts clarified the applicability of the new SCSS and PPF rules. The amendments related to SCSS and PPF will be applicable to both existing account holders and new account holders, while the amendments in the Nat…

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  • Ministry of Finance Announces GPF Interest Rate for Q1 2024

    PF & ESI,Mar. 30, 2024

    The Ministry of Finance has released the interest rate for the General Provident Fund (GPF) and other similar provident fund initiatives for the January-March 2024 quarter. The interest rate has been set at 7.1% for this period, and it applies to various provident funds including the General Provident Fund (Central Services), Contributory Provident Fund (India), All India Services Provident Fund, and others. The interest rate has been kept constant…

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  • Department of Post Amends Premature Closure Rules for PPF Accounts

    PF & ESI,Mar. 30, 2024

    The Department of Post has issued a notification on November 7, 2023, introducing changes to the premature closure rules of the Public Provident Fund (PPF) account. These changes impact the grounds for premature closure, interest calculation, and closure procedures for PPF accounts.

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  • PF & ESI,Mar. 30, 2024

    The Ministry of Finance has announced the interest rate for the General Provident Fund (GPF) and other similar provident fund initiatives for the October-December 2023 quarter. The interest rate for the GPF and linked funds remains unchanged at 7.1 percent for this quarter. This decision aligns with the stability of the Public Provident Fund (PPF) interest rate, which is typically followed by these provident funds. The GPF is available to Indian go…

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  • PF & ESI,Mar. 30, 2024

    Public Provident Fund (PPF) is a government-backed long-term investment scheme that offers tax benefits, consistent returns, and capital safety. It is a popular choice among investors seeking secure and tax-efficient investment avenues. PPF accounts have a mandatory lock-in period of 15 years and provide tax exemptions on both the principal amount invested and the interest earned. Additionally, PPF allows for partial withdrawals and loans under spe…

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Tax-saving investment: PPF vs VPF - A Comparison

The article discusses the comparison between Public Provident Fund (PPF) and Voluntary Provident Fund (VPF) as tax-saving investment options for the financial year 2023-24. It highlights the differences in interest rates, eligibility, investment limits, tenure, taxation rules, risk protection, liquidity, and how to open an account for both PPF and VPF. The comparison aims to help individuals make an informed decision based on their financial goals …

PF & ESI,Mar. 30, 2024
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  • PF & ESI,Mar. 30, 2024

    The article discusses the available choices for individuals who wish to continue using their Public Provident Fund (PPF) account after it reaches maturity. It outlines three alternatives, including closing the account and withdrawing the entire proceeds, extending the account without fresh deposits, and extending the account with fresh deposits. Each option is explained in detail, providing insights into the procedures and implications of each choi…

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  • PF & ESI,Jan. 24, 2024

    The article provides insights into tax optimization strategies for high-earning individuals, using the case of Manish Taneja, a Pune-based software professional. It highlights the potential tax-saving benefits of increasing Provident Fund contributions, incorporating tax-free perks, and purchasing separate health insurance.

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PF & ESI,Jan. 24, 2024

The provided contains advice from financial experts to individuals seeking long-term investment options to build a substantial corpus. It includes specific scenarios of individuals seeking advice on their financial planning, investment strategies, and wealth management for various life goals such as retirement, children’s education, and wealth creation.

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Prepaying Home Loans Before Retirement: Balancing Financial Logic and Emotional…

The decision to prepay a home loan before retirement involves a careful evaluation of financial and emotional factors. This decision is influenced by the potential returns on investments, the cost of the loan, and the individual’s emotional comfort level.

PF & ESI,Jan. 24, 2024
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