However, on January 1, 2025, there will be changes in the savings of salaried people in the form of major government schemes as well as EPFO ​​​​rules.

See below for more details on the major financial changes that will take place from January 1, 2024.

Jet Fuel Prices

Aviation fuel prices are revised by oil marketing companies on the first of every month. ATF or Air Turbine Fuel forms a major part of the cost of air tickets. OMCs raised ATF prices by Rs 1,318.12 per kilolitre on December 1, 2024. Similarly, ATF prices in Delhi and Mumbai increased by more than 3 per cent in November 2024.

LPG Cylinder Price Revision

The Centre has capped the prices of domestic LPG cylinders at Rs 803 per 14 kg cylinder, but commercial LPG cylinder prices have been hiked by OMCs in successive months. The price of 19 kg commercial LPG cylinder was hiked by Rs 15.5-16.5 per cylinder on December 1, 2024. Commercial LPG prices have increased by Rs 173 per cylinder in the last 5 months. These hikes can make eating out expensive.

Agricultural loan without collateral

The people of the farming community are going to get a big gift, as the Union Cabinet has approved the budget for loans without collateral for the farming community. From January 1, 2024, farmers will be able to take loans without collateral up to Rs 2 lakh, whereas earlier this limit was Rs 1.6 lakh. These loans are expected to meet the loan needs of farmers during the agricultural season.

Change in stock market expiry rule

The stock market expiry rule will change for BSE Sensex, Sensex 50 and Bankex indices from January 1, 2024, expiry will start on Tuesday from this date. Earlier, these indices used to expire on Friday. This rule will be applicable on quarterly and half-yearly contracts on the last Tuesday of the respective month. Under the new rule, the expiry of Nifty 50 monthly contract has been shifted to Thursday.

UPI 123Pay transaction limit

As per the RBI notification, from January 1, 2025, UPI 123Pay users will be able to make high-value online payments using feature phones. RBI has increased the limit for these transactions from the earlier Rs 5,000 to Rs 10,000.

Change in EPFO ​​pension rules

EPFO ​​pensioners will be able to withdraw their pension from any bank in India. Its aim is to make withdrawal easier for pensioners. Apart from this, pensioners will not need to submit any additional verification for withdrawal.

GST rule changes

Businesses will have to adopt multi-factor authentication to access the GST portal from January 2025. This is an improved security feature that includes additional verification using one-time passwords or OTPs. Apart from this, companies will be able to issue e-way bills only for transactions made in the last 180 days. To prepare for these changes, companies will have to update their contact details.

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Why should you buy term insurance plan?

Term insurance plan is suitable for working people. In this, life with family should save oneself from death. This plan provides financial security to the policy holder and his family. You also get death benefit in this policy.

Death interest

After the death of the policy holder, the nominee receives the insurance amount. This amount is given in lump sum. If the nominee wishes, he can take the lump sum amount in installments.

He can take the insurance amount on monthly, quarterly, half yearly or yearly basis. The policy holder can select these options during his lifetime.

Maturity benefit

After maturity of LIC Jeevan Kiran policy, the policy holder can also take the investment amount in lump sum after maturity. Apart from this, he can select how to invest. If he wants, he can make payment on monthly, quarterly, half yearly or yearly basis. A minimum investment of Rs 5,000 can be made in this policy on a monthly basis.

After the death of the insured, the nominee will get death benefit.

If the policy holder dies, the nominee will receive the investment amount of the policy. The company will pay the entire investment amount in lump sum. However, the nominee can select whether he will take the amount in lump sum or in installments. You can select this option at any time during your lifetime to avail all the benefits available under the policy terms or death benefit.

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New rules in HDFC Bank Credit Card

HDFC Bank has made some changes in the rules of Regalia and Millennia Credit Cards. Now lounge access facility will be available only after spending at least Rs 1 lakh on HDFC Bank Regalia Credit Card. You will get only 2 lounge access in a quarter.

At the same time, the benefit of credit card facility will be available only after spending Rs 1 lakh quarterly through HDFC Bank Millenia Credit Card. Through this card, you can avail the lounge only once in a quarter.

New rules in SBI credit card

SBI Card has changed the rules of Paytm SBI Credit Card. Cashback will not be available on payment of fare through this credit card from January 1. Earlier on November 1, SBI Card has reduced the reward points on online shopping from EasyDiner from 10X to 5X.

Axis Bank also made changes in credit card rules

Axis Bank has made some important changes for its credit cardholders. The bank has changed the Axis Bank Magnus Credit Card benefits and annual charges and joining fees. The bank has also revised the terms and conditions of the Axis Bank Reserve Credit Card.

ICICI Bank reduces lounge access benefit

ICICI Bank has changed the rules of airport long access and reward points on its 21 major credit cards. Along with this, the rules of reward have also been changed. It has been told by the bank that from April 1, 2024, lounge access facility will be available only after spending Rs 35000 in a calendar quarter.

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The Finance Ministry informed after the meeting that interest rates on small savings schemes have been increased by 0.20 percent for the January-March 2024 quarter. In the notification issued by the Ministry on December 29, it has been said that the interest rates on 3 year time deposits i.e. Post Office FD have been increased by 10 basis points. Now instead of 7 percent, you will get 7.10 percent interest on it. The new interest rate will be implemented only for the last quarter of the current financial year.

How much interest increased on Sukanya:

It is clearly stated in the notification that the interest rates on Sukanya Samriddhi Scheme have also been increased. For the January-March quarter, interest will be 8.2 percent instead of 8 percent. There has been an increase of 20 basis points on this scheme. The special thing is that the government has increased Sukanya after about 6 quarters.

What is the impact on other schemes?

The Central Government has not made any change in the interest rates on other small savings schemes. For example, no changes have been made on schemes like PPF, NSC. The same interest will be given on all these schemes as for the October-December quarter. Therefore, for those investing in these schemes, the new year will also bring the same old interest rates.

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E-bills will become mandatory for all businesses in the next two to three years for ‘Business to Customer’ (B2C) transactions. At present, e-bill is mandatory only for businesses with a turnover of Rs 5 crore or more, but now the government is preparing to make it applicable to all businesses by changing the rules.

There will be major changes in GST system

The government is continuously making efforts to improve the GST system. Giving information about this, CBIC i.e. Central Board of Indirect Taxes and Customs member GST Shashank Priya said that continuous efforts are being made to bring business to consumer transactions into e-bills. Work is going on for this and the system will be ready soon.

He said that we are seeing in which area this rule can be implemented first. Along with this, many such businesses are being identified which are not generating e-voice despite having a turnover of Rs 5 to 10 crore. In such a situation, the department is preparing to take action and curb those who ignore the rules.

Gradually the scope of e-bill is being expanded

It is noteworthy that the government is gradually expanding the scope of GST e-bill. From October 1, 2020, e-bill was made mandatory for businesses with a turnover of more than Rs 500 crore. Whereas on January 1, 2021, businesses with turnover of more than Rs 100 crore have been brought under the ambit of e-bill.

E-bill has been made mandatory for businesses worth Rs 50 crore from April 1, 2021, and Rs 20 crore from April 1, 2022. At the same time, it has become mandatory to generate e-bill for businesses worth Rs 10 crore from October 1, 2022 and Rs 5 crore from August 1, 2023. In such a situation, if businesses with 5 or more turnover fail to do so, the GST department will take action against them.

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SBI FD: Interest rates on SBI FD

7 days to 45 days – 3.00%

180 days to 210 days – 5.25%

More than 211 days but less than 1 year – 5.75%

More than 1 year but less than 2 years – 6.80%

More than 2 years but less than 3 years – 7.00%

More than 3 years but less than 5 years – 6.50%

Above 5 years and up to 10 years – 6.50%

400 days Amrit Kalash Deposit Scheme – 7.10%

Senior citizens will get extra interest

Senior citizens get 0.50 percent more interest on all these FD schemes. 1 percent more interest is available on schemes for more than 5 years and up to 10 years.

You will get this much return on investment of Rs 5 lakh

If you want to deposit Rs 5 lakh in SBI FD, then your amount will increase by this much in 1, 2, 3, 5 and 10 years. This is the complete calculation..

With 5.75% interest on FD up to 1 year – Rs 5,29,376

With 6.80% interest on FD up to 2 years – Rs 5,72,187

With 7.00% interest on FD up to 3 years – Rs 6,15,720

With 6.50% interest on FD up to 5 years – Rs 6,90,210

With 6.50% interest on FD up to 10 years – Rs 9,52,779

Senior citizens will get this much return on SBI FD

FD up to 1 year with 6.25% interest – Rs 5,31,990

With 7.30% interest on FD up to 2 years – Rs 5,77,837

With 7.50% interest on FD up to 3 years – Rs 6,24,858

With 7.00% interest on FD up to 5 years – Rs 7,07,389

FD up to 10 years with 7.50% interest (SBI Care FD Scheme) – Rs 10,51,175

The post SBI: You will get a return of ₹ 5,51,000 in this scheme of SBI Bank, know the complete calculation first appeared on Rightsofemployees.com.

The government has made some changes in the withdrawal rules of this scheme (NPS Withdrawal Rules), which will make it more convenient for them to withdraw their money and use it as per their need. Now you will be able to do Systematic Lump Sum Withdrawal (SLW- Systematic Lump Sum Withdrawal). Let us know what rules have changed, and how you will benefit.

What are the current rules?

PFRDA (Pension Fund Regulatory and Development Authority) had recently issued a circular, in which it has been said that as per the existing rules of withdrawal, subscribers can take their money in the form of annuity till the age of 60 years or 75 years after superannuation. Or you can take out Lamsam.

They will have to withdraw the lump sum amount in lump sum or can withdraw it on an annual basis. If withdrawing on annual basis, they will have to submit a withdrawal request every time. As per the amendments in Regulation 3 and Regulation 4 of the PFRDA (Exits and Withdrawals under the NPS) Regulations, 2015, it is now proposed to provide systematic withdrawal facility to the subscriber in a phased manner.

Now subscribers can choose to withdraw 60 per cent of their pension corpus monthly, quarterly, half-yearly or annually till the age of 75 years. That is, where earlier they had the option of withdrawing a lump sum amount at one time or once annually, now they will be able to choose the lump sum withdrawal period as per their convenience.

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This information was given in the data released on Wednesday about those getting jobs in the organized sector. This is the highest increase of 18.75 lakh members in any month since the EPFO payroll data was published since September 2017, the Labor Ministry said in a statement.

The number of EPFO members has been increasing for the last three months and in June the figure was 85,932. Data shows that around 10.27 lakh new members have enrolled during July 2023, the highest since July 2022.

Most of the new members are in the age group of 18-25 years.

Most of the new members joining EPFO are in the age group of 18-25 years. Their share in the total members is about 58.45 percent. The data of those who got jobs on regular salary shows that about 12.72 lakh members who had moved out rejoined EPFO. This rate is the highest in the last 12 months.

These members changed their jobs and rejoined the establishments under EPFO. Also they chose to transfer their deposits instead of applying for final settlement. According to the data, around 3.86 lakh women members joined EPFO during July 2023. About 2.75 lakh women members have come under the ambit of social security for the first time.

State-wise analysis shows that Maharashtra, Tamil Nadu, Karnataka, Gujarat and Haryana had the highest net increase. The statement said the payroll data is provisional, as data collection is an ongoing process.

ESIC added 19.88 lakh members

Employees’ State Insurance Corporation (ESIC) has added 19.88 lakh new employees under its health insurance scheme ESI in July, 2023. The Labor Ministry said in a statement that according to the provisional payroll data of ESIC, 19.88 lakh new employees were added in the month under review. The statement said that during this period, about 27,870 new establishments were registered and brought under the social security ambit of ESIC.

The data shows that more jobs were created for the youth. Of the total 19.88 lakh employees added during this period, 9.54 lakh employees were below 25 years of age. Similarly, the net enrollment of women members in July was 3.82 lakh, while a total of 52 transgender employees were registered under the ESI scheme. The statement said the payroll data is provisional as data collection is an ongoing process.

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After the arrival of Modi government in the country, many changes have come. Due to these changes, people in the country have also got many types of relief. At the same time, it is also very important for the people in the country to fill the income tax return. It is very important for those whose income is taxable to fill ITR. At the same time, this time a lot of exemption has also been given by the Modi government in the income tax return, through which people will also be helped in saving tax. Let’s know about it…

Tax free income

In Budget 2023, Finance Minister Nirmala Sitharaman announced that income up to Rs 7 lakh will be tax-free under the new system. However, concerns were expressed as to what would happen to taxpayers who were earning marginally above Rs 7 lakh. Regarding this, Sitharaman said that the government has taken note of such concerns and now income up to Rs 7.27 lakh has become tax-free due to the introduction of minor relief provisions under the new tax regime.

Standard Deduction

The finance minister said, “Under the new regime, no income tax will be payable on annual income up to Rs 7 lakh, which effectively increases to Rs 7.27 lakh with marginal relief provisions.” Apart from this, to make the new system attractive, a standard deduction of Rs 50,000 was announced in Budget 2023.

Exemption

Sitharaman said that now standard deduction of Rs 50,000 has also been started under the new income tax regime. Standard deduction facility is available to salaried employees. Apart from this, the exemption limit on medical expenses of senior citizens has been increased from Rs.30,000 to Rs.50,000. Also, life saving drugs and cancer drugs have been exempted from GST.

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The central government is running the Sukanya Samriddhi Yojana to advance the daughters and make them financially empowered. In which accounts can be opened only in the name of daughters through bank or post office. For which interest is paid by the government on a quarterly basis.

The government has increased the interest rate for the April-June quarter 2023 in Sukanya Samriddhi Yojana (SSY). Now the government will provide an interest rate of 8 percent per annum to the daughters. In this, 7.60 percent interest was given before the quarter from April to June. Which has now increased to 8 percent.

Through this scheme, the expenses of daughters’ education and marriage can be raised. Because investment in the account can be done till the age of 18 years. The amount can be withdrawn from the account when the daughter turns 21. The government keeps revising the interest rate in this. For the first quarter of the year 2024, the government has increased the interest by 40 bps.

If a parent starts investing in Sukanya Samriddhi Yojana in the name of his daughter as soon as she is born, then she will have to invest for the next 15 years. If he invests Rs 10,000 per month in the name of the daughter, then the daughter will become a millionaire when she turns 21.

Who can open Sukanya Samriddhi Yojana account ?

The account can be opened by the parent or legal guardian of the girl child from birth till she attains the age of 10 years.

Where can you open Sukanya Samriddhi Yojana account,
Sukanya Samriddhi Yojana accounts can be opened in post offices and authorized banks.

What is the minimum and maximum amount that can be invested in Sukanya Samriddhi Yojana account ?

Minimum deposit amount of Rs.250 per year and maximum amount of Rs.1,50,000 per year can be invested in the name of the girl child.

Can you open more than one Sukanya Samriddhi Yojana account for the same girl child ?
No, only one Sukanya Samriddhi Yojana account can be opened by the parent or legal guardian in the name of the girl child.

What if the account holder fails to deposit any amount in the Sukanya Samriddhi Yojana account in one or more financial years ?

If the customer does not deposit the minimum deposit of Rs 250 in a financial year, a penalty of Rs 50 per year will be levied on default.

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HDFC Bank said that this offer is only for a limited time. In such a situation, to take advantage of this, the customers will have to open the FD before the offer ends. According to the information available on the HDFC Bank website, “Introducing HDFC Bank Special Edition Fixed Deposit. On this special FD, customers will get interest at the rate of 7.20% for a period of 35 months.

Whereas for a period of 55 months Interest will be available at the rate of 7.25%. The offer does not end there! Senior citizens will get additional interest up to 0.50%. So hurry up! Offer valid for a limited period only!” These rates have come into effect from 29 May 2023.

HDFC Bank latest FD rates

HDFC Bank is currently offering its customers a minimum interest rate of 3% (0.50% additional for senior citizens) on FDs. This offer is for FDs ranging from 7 days to 29 days. You can see the latest FD rates of HDFC Bank below-

For a period of 7 to 29 days – 3.00%

For a period of 30 to 45 days – 3.50%

For tenure of 36 to 89 days – 4.50%

For tenure from 36 days to 6 months – 4.50%

From 6 months 1 day to 9 months – 5.75%

From 9 months 1 day to 1 year – 6.00%

From 1 year 1 day to 15 months – 6.60%

From 15 months 1 day to 18 months – 7.10%

From 18 months to 2 years to 11 months – 7.00%

Above all tenors – 7.00%

HDFC Bank special FD offer

From 2 years 11 months to 36 months – 7.20%

7.25% on Special FD with a tenure of 4 years 7 months

* Senior citizens will get 0.50% extra interest on all FDs.

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The Reserve Bank of India (RBI) has said that Rs 2000 notes will be considered legal tender even after 30 September 2023. HDFC, SBI, PNB, South Indian Bank and Kotak Mahindra Bank have issued clarification (How To Exchange Rs 2000 Notes) regarding note exchange.

According to the RBI’s circular issued on 22 May 2023, the facility of exchange of Rs 2000 notes over the counter of banks will be provided to the public in a normal manner. Keeping in view the summer season, RBI has also advised to provide proper infrastructure like shady waiting rooms, drinking water facilities etc. in the bank branches.

State Bank of India

The largest government bank State Bank of India ( SBI 2000 Notes Change Guideline) has said that it is allowing customers to change 10 notes of Rs 2000 i.e. up to Rs 20,000. No slip or form will be asked from the customers for this. SBI said that it has been decided that Rs. 2000/- to exchange bank notes in the denomination of Rs. 20000/- will be given without any demand slip.

Punjab National Bank

According to a representative of Punjab National Bank ( PNB 2000 Notes Exchange Rule), if you are exchanging Rs 2,000 notes, you do not need to present any government-issued identity document like Aadhaar card at the bank branch. Is. Punjab National Bank has issued an official guideline saying that there is no need to fill any Aadhaar card, officially verified documents or any form, such instructions have been given to all branches of Punjab National Bank at present.

South Indian Bank

According to the Times of India, the private sector South Indian Bank2000 Notes Change Guide) ) Those who are not customers can change Rs 2,000 notes in all branches from Tuesday. But, they will submit Officially Valid Document (OVD). Similarly, the same rule will be applicable for non-KYC customers as well. South Indian Bank is headquartered in Kerala and has 940 branches across the country.

HDFC Bank

HDFC Bank (How to Exchange Notes in HDFC Bank ) said that we are providing hassle free note exchange service from 23 May 2023 to 30 September 2023 at any HDFC Bank branch. You can exchange your Rs 2000 notes with a per day limit of Rs 20,000. HDFC Bank has also issued an email regarding this to its customers.

According to the Kotak Mahindra Bank report, Kotak Mahindra Bank ( Kotak Mahindra Bank Notes Exchange Steps) has said that they are asking for form / ID proof for non-account holders in case of exchange of Rs 2,000 notes.

Note Exchange Limit

According to RBI, the limit for exchanging Rs 2000 notes at a time is Rs 20000. Means anyone can change 10 notes. This facility will continue till 30 September.

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By investing in these schemes, a big fund is received in the long run. If a girl child is born in your house too and you want to invest for her future, then Public Provident Fund and Sukanya Samriddhi Yojana both are very popular investment schemes. By investing in it, you can get strong returns.

Who can invest in SSY and PPF?

Significantly, Sukanya Samriddhi Yojana has been specially designed for girls below 10 years of age. By investing in this, the girl child gets a hefty fund after the age of 21 years. At the same time, any person can invest in the Public Provident Fund Scheme. Along with this, PPF account can also be opened for a girl child above 10 years of age.

What is the lock in period in both the schemes

In Sukanya Samriddhi Yojana, SSY can be opened in any bank or post office for a girl child from birth to 10 years. In such a situation, the maximum limit of investment in this scheme is 21 years. On the other hand, if we talk about Public Provident Fund Scheme, then the total investment period in it is 15 years. SSY account can be closed even before marriage after the girl child turns 18. On the other hand, talking about PPF account, the period of investment in it can be extended for 5 years after 15 years.

How much can be invested in both the schemes

You can invest from Rs 250 to Rs 1.5 lakh in a financial year in Sukanya Samriddhi Yojana account. On the other hand, talking about Public Provident Fund, in this scheme you can invest from a minimum amount of Rs 500 to Rs 1.5 lakh in a year. Along with this, tell that under both the schemes you can open an account in any post office or bank.

Know how much interest is being received on both

On investing in Sukanya Samriddhi Yojana, you are getting an interest rate of 8 percent. This interest is transferred to the account on a quarterly basis. At the same time, interest is available on PPF account at the rate of 7.1 percent.

In such a situation, if you want to invest in any one scheme, then Sukanya Samriddhi Yojana can prove to be a better scheme for the girl child. Along with this, if we talk about withdrawal on the account, then the child can partially withdraw the money in the SSY account after the age of 18 years and after 21 years. Partial withdrawal can be done after the seventh year of investment in the same PPF account.

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This is the 16th Vande Bharat train of the country. After Odisha, now Uttarakhand can also get the first Vande Bharat train soon. Union Railway Minister Ashwini Vaishnav has confirmed this. The Union Railway Minister said that the process of making 400 Vande Bharat trains will start.

Target to connect every state

According to Union Railway Minister Ashwini Vaishnav, preparations are being made for production in all the factories including the Integrated Coach Factory (ICF). Apart from this, supply chain, engineering, factory etc. are also being prepared. According to the Union Minister, the first target is to connect every state with the Vande Bharat train.

On an average, a target has been set to produce two vehicles in eight days. The Railway Minister said that apart from Railways, the Department of Telecom has provided Rs 5,600 crore to Odisha to improve connectivity in Odisha.

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Train can start for Dehradun

The Railway Minister said that Vande Bharat train may start soon for Dehradun, the capital of Uttarakhand. After this, trial run will start in Guwahati. Ashwini Vaishnav told that ‘the second Vande Bharat Express train in Odisha can run on the Puri-Bhubaneswar-Cuttack-Angul-Rourkela route’. Vaishnav, a Rajya Sabha member from Odisha, said that there is a plan to run Vande Metro in Puri-Bhubaneswar-Cuttack in January-February next year. He said that he would request Prime Minister Narendra Modi to give another Vande Bharat and Vande Metro to Odisha.

Trial run of Vande Bharat started on Mumbai-Goa route

Trial run of Vande Bharat Express on Mumbai-Goa route started on Tuesday. Capable of running at a speed of 180 kmph, the Vande Bharat train left Mumbai’s Chhatrapati Shivaji Maharaj Terminal (CSMT) at 5.30 am and reached Goa’s Madgaon station at 12.50 am. The same train left Madgaon at around 1.15 am. Significantly, three Vande Bharat Express trains run between Mumbai and Ahmedabad, Solapur and Shirdi.

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Let us know about it in detail. 

If you also often travel by railway and are troubled by the high charges levied on food and drink items by the vendors in the train, then this news will give you relief. Now strict action has been taken by IRCTC on this. After the new order issued by IRCTC, passengers will get relief regarding the rates on food items. In the order given by IRCTC to the vendors, it was said that the vendors should not sell food by adding a separate rate along with the food.

Vigilance team will remain active in trains

IRCTC has written a letter to all GGMs regarding this. Along with giving instructions for immediate action, a detailed report has been sought by May 5. IRCTC warned that this habit of taking extra money from sellers of goods will have to be changed immediately. To prevent this, vigilance teams will be active in trains on 10 crowded routes. This team will put a stop to the arbitrariness done by the vendors. Along with this, action will also be taken on selling goods at a higher price than MPRP.

Supervisors will be posted in trains

Managers are posted on behalf of IRCTC in premium trains. Supervisors will now be posted in some other important trains. This is being considered by the Ministry of Railways. These steps have been taken in view of the fact that people do not face any kind of trouble while traveling during the holidays. Under the new change, rate cards will be placed on food boxes at an easily visible place.

Avoid overpricing by asking for the bill

Issuing suggestions for the passengers, it was said that overpricing can be avoided by asking for the bill. If there is any complaint related to quality and quantity then you can do it with the concerned authority. Due to increase in consumption of Rail Neer, 4 new plants are being set up by IRCTC. It will be allowed to sell water approved by the Railway Board in stations and trains.

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The Ministry of Electronics and Information Technology (MeitY) has prepared a draft to allow private entities and state entities to carry out Aadhaar verification.

Now public feedback was sought regarding this proposal, which was to be submitted by May 5. However, now it has been extended for 15 days. In this draft issued by the ministry, it has been said that institutions other than the central and state governments can now seek permission for Aadhaar authentication in certain cases.

Will have to present full details

With regard to this proposal of allowing private institutions to do the Aadhaar authentication process, the government has said that these institutions will have to give complete details along with the reason for allowing the authentication. Such institutions will have to submit a complete proposal. If a valid reason is found then permission will be given.

Will get permission from UIDAI

The IT Ministry said that if the concerned ministry or government department is convinced that the proposal for which Aadhaar authentication is being sought is in the public interest, then it will send that proposal to the central government. This proposal has to be sent to UIDAI. In the year 2018, it was argued in the Supreme Court that it was said about this proposal that it would make it more vulnerable to fraud.

What did the Supreme Court say

The Supreme Court had said in a judgment that although Aadhaar numbers can be used to identify users for state welfare, private entities will not be able to conduct such verification.

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The GST network last month made it mandatory for businesses with a turnover of Rs 100 crore and above to upload e-invoices on the Invoice Registration Portal (IRP) from May 1, 2023. Under this, instructions were issued to the businessmen to upload the invoice within 7 days of issue. Whereas, earlier there was no such restriction for businesses to upload invoices on IRP.

In this matter, on May 6, the GST Network said that it has been decided to defer the implementation of the 7-day reporting deadline for taxpayers on the e-invoice IRP portal for 3 months. Businessmen doing business equal to or more than Rs 100 crore for three months i.e. till August 2023 will have to upload invoices in the old way. This has brought great relief to the businessmen.

AMRG & Associates Senior Partner Rajat Mohan said that in the last few days big businesses were perplexed about the rule of issuing e-invoices within 7 days from the date of invoice. Keeping in mind the various problems, big businesses have now been given relief for the next three months, so that the necessary provisions can be implemented smoothly.

As per the GST law, businesses cannot avail Input Tax Credit ( ITC ) if e-invoices are not uploaded on the Invoice Registration Portal (IRP). Currently, companies can upload their e-invoices anytime, but after the new rule came into force, they had only 7 days. Explain that businessmen can upload debit and credit notes even after 7 days i.e. as before.

The post GSTN Invoice Registration: GST rule applicable from May 1 postponed for 3 months, check details first appeared on Rightsofemployees.com.

The rainy season is going to start once again in North West India. On May 6 and 7, there will be light to moderate rain in the states of North West India. Apart from this, Andaman and Nicobar Islands are going to receive heavy to very heavy rains from May 7 to May 9.

According to IMD, Andaman and Nicobar will receive heavy to very heavy rainfall on May 7 and 8. Apart from this, strong winds with a speed of 40-50 kmph are expected on May 7. This speed will increase up to 70 kilometers per hour. Fishermen have been advised not to venture into the Bay of Bengal between May 7 and May 9.

Talking about North West India, after May 5, a new round of rain will come in the western Himalayan region. Apart from this, rain, thunderstorm may occur in the plains of Northwest India on May 6 and 7. There is an alert for hailstorm in Punjab and Haryana on May 7.

Rain for five days in south india

Talking about South India, there is an alert for rain, lightning, strong winds etc. to continue for the next five days. Tamil Nadu, Puducherry, Karaikal will receive heavy rains on May 4. Apart from this, heavy rains may occur over South Interior Karnataka on May 7 and 8. Talking about the states of North East India, light to moderate rain is expected for the next two days. At the same time, there may be heavy rains in Arunachal Pradesh on May 4 and 5. Heavy rain alert has been issued in Assam and Meghalaya on May 4.

The Meteorological Department has told about the weather of the last 24 hours that the maximum temperature in most parts of the country was recorded at 37 degree Celsius on Wednesday. It remained three to six degrees Celsius less than the average. At the same time, there will be an increase in the maximum temperature in the coastal areas of Odisha around May 7. By May 8, the temperature may go up by two to four degrees Celsius above normal. At the same time, heatwave is not expected to continue in any part of the country for the next five days.

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According to the news agency PTI , after a two-day meeting of the Central Board of Trustees (CBT) of EPFO, it was decided to increase the interest rates of PF by 0.05 percent. Its interest rate was 8.10 percent in the last financial year, which has now increased to 8.15 percent. Earlier, the lowest PF interest rate was 8 percent in 1977-78.

There are not many screws left

that after the seal of the trustees of EPFO, the new interest rate will be applicable on the PF account. For this, it is also necessary to take the approval of the government. The Finance Ministry will also review the interest rate fixed for 2022-23 and only after it is approved, the way to send the interest money to the account will be clear. It is noteworthy that even the interest money for the financial year 2021-22 has not yet been received by the PF account holders.

Earlier the intention was to keep 8 percent, then…

speculations were being made that this time the interest rate on PF account is to be reduced once again to 8 percent. But the trustees felt that considering the inflation, more interest should be given to the account holders. On the first day of the meeting, the issue of higher pension was also discussed between the Union Labor Minister Bhupendra Yadav and the trustees. It was informed that EPFO ​​is completing the process of providing higher pension to eligible subscribers.

Decreasing interest since 2018-19

The interest rate on PF is continuously decreasing since the financial year 2018-19. In the last financial year, the government had saved Rs 450 crore by reducing the interest rate to 8.10 per cent. In such a situation, it seemed that this year also the interest rate would remain the same or it would be reduced to 8 percent. In 2018-19, the interest on PF was 8.65 per cent, which was reduced to 8.50 per cent in 2019-20. The interest rate was the same in 2020-21 as well, whereas in 2021-22 it was reduced to 8.10 per cent.

The post EPFO increased Interest Rate: Good news for PF Account Holders! Interest on PF has increased, know the new rate first appeared on Rightsofemployees.com.

Failure to do so may result in blocking of NPS transactions. The authority said that NPS account holders should note that their NPS account is KYC compliant. According to the Pension Fund Regulatory and Development Authority (PFRDA) NPS subscribers should ensure that their PAN and Aadhaar numbers are linked before March 31, 2023 to ensure seamless ongoing transactions and avoid penalties .

PFRDA has said that since PAN is a key identification number for the account holder and is part of the KYC requirements for NPS accounts. Hence there is a need to ensure valid KYC for all customers.

According to the circular of the Central Board of Direct Taxes (CBDT), if the PAN given to a person is not linked to Aadhaar by March 31, 2023, it will become inactive. If this happens, penalty and fine will be applicable under the Income Tax Act 1961. Every person who has been assigned a Permanent Account Number (PAN) as per the provisions of the Income Tax Act, 1961. He needs to inform the concerned authorities of his Aadhaar number so that Aadhaar and PAN can be linked. This should be completed on or before the notification date, otherwise the PAN will become inoperative.

How can existing subscriber update Aadhaar number in NPS account?

1. First of all login to your NPS account through https://cra-nsdl.com/CRA/.
2. After this, click on the sub-menu ‘Update Aadhaar / Address Details’.
3. Now click on ‘Update Details’ under the new menu that opens.
4. After that select the option ‘Add/Update Aadhaar Number’.
5. Now enter your Aadhaar number and click on ‘Generate OTP’.
6. Account holder should enter the OTP received from UIDAI on his registered mobile number.
7. After authentication through OTP, Aadhaar will be linked to your PRAN.
8. NPS account holders may note that the name entered for your PRAN should exactly match the registered name.
9. Thereafter, you will get the message that Aadhaar seeding request is successful for your Permanent Retirement Account Number (PRAN).

The post NPS Transactions Rules Changes: Major changes have been made regarding the rules of NPS transaction, know PFRDA’s statement first appeared on Rightsofemployees.com.

Under this scheme, up to 7.60 percent interest is being offered to senior citizens. The bank started this special FD scheme on 15 February 2023. It has been named Amrit Kalash Scheme. This 400 days FD. Let us know everything about this scheme.

This FD is for 400 days

According to the data available on the SBI website, the special fixed deposit scheme known as Amrit Kalash (SBI Special FD Amrit Kalash) is of 400 days. The interest rate for individuals is 7.10 per cent, while for senior citizens the interest rate is 7.60 per cent. This interest rate is more than the special V-Care scheme of the bank. The tenure of SBI We-care Fixed Deposit is 5-10 years. In this, the interest rate for individual is 6.50 percent and for senior citizens, it is 7.50 percent.

Will get interest of 43 thousand rupees

According to SBI FD Calculator, if a senior citizen invests Rs 5 lakh in Amrit Kalash Scheme (SBI Amrit Kalash Scheme), then after 400 days he will get a total of Rs 5 lakh 43 thousand 2. Meaning, after a little more than a year, he will get 43 thousand rupees only as interest. Explain that the interest is calculated on the basis of quarterly compounding.

This facility till 31 March

State Bank last changed the interest on General Fixed Deposit (SBI Fixed Deposit Rates) on 15 February. The bank is offering minimum 3 percent and maximum 7 percent interest to the general public. The minimum interest rate for senior citizens is 3.50 percent and the maximum interest rate is 7.50 percent.

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In the first phase, passengers will get this facility at 35 percent gates of the Delhi Metro network. After this, this facility will be available at all entry and exit gates. To increase convenience in public transport, work was done in the direction of NCMC on the initiative of the Center. Actually, NCMC was to be implemented in 2022 only. There are around 3,500 AFC gates in the Delhi Metro network.

Passengers will be able to use NCMC at 1,100 AFC gates in the first phase in April. Preparations for this have been completed. For the introduction of NCMC, Delhi Metro Rail Corporation (DMRC) has tied up with banks for RuPay cards. Passengers will be able to use RuPay card as a ticket at any metro station.

Tender for buses has been put again.

It is worth noting that already on the Airport Express Line, passengers have the facility to travel by scanning the QR code. Now after the introduction of mobility card, apart from debit card, credit card, QR code, passengers will also be able to take tickets through mobile.

For this, its facility has been made available at all stations. At the same time, once again the tender has gone to Jalal to implement NCMC in buses. After the completion of the tender process, the National Common Mobility Card will also be started for buses. Let us tell you that due to this, passengers will have to use only one card to travel in metro or bus.

At present, due to non-availability of this facility, the passengers have to pay the fare for both the modes of transport repeatedly.

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Banks are full of holidays in the month of April. In such a situation, if you have to complete any important work related to the bank this month, then it is necessary to check the Bank Holiday List in April.

Banks will remain closed for 15 days in April

Significantly, due to the holiday of banks, many financial operations are badly affected. In such a situation, to save the customers from trouble, the Reserve Bank of India releases the list of bank holidays every month. Banks will remain closed for a total of 15 days in the month of April, including different festivals, birth anniversaries and Saturday-Sunday holidays.

In the month of April, banks will be closed for many days due to many festivals and anniversaries like Mahavir Jayanti, Good Friday, Ambedkar Jayanti etc. In such a situation, if you have to deal with important tasks like depositing a check in the bank, withdrawal etc. in the next month, then definitely see this list of RBI.

How to handle work during bank holidays

Due to holidays in banks, online facilities like net banking, mobile banking remain operational even on holidays, so that the customers do not face any kind of trouble. Through all these, you can easily transact from one account to another. Apart from this, you can meet the shortage of cash through ATMs. At the same time, through the Unified Payment Interface ie UPI, you can easily receive and give payments.

Bank Holiday April 2023 List –

• April 1, 2023- Due to annual closing, the entire country except Aizawl, Shillong, Shimla and Chandigarh will remain closed for the common people.
• April 2, 2023- Due to Sunday, there will be a holiday in banks across the country.
• April 4, 2023- Banks will remain closed in Ahmedabad, Aizawl, Belapur, Bengaluru, Bhopal, Chandigarh, Chennai, Jaipur, Kanpur, Kolkata, Lucknow, Kolkata, Mumbai, Nagpur, New Delhi, Raipur and Ranchi due to Mahavir Jayanti.
• April 5, 2023- Banks will remain closed in Hyderabad due to the birth anniversary of Babu Jagjivan Ram.
• 7 April 2023- Due to Good Friday, banks will remain closed in the whole country except Agartala, Ahmedabad, Guwahati, Jaipur, Jammu, Shimla and Srinagar.
• April 8, 2023- Banks will remain closed across the country due to the second Saturday.
• April 9, 2023- Due to Sunday, banks will remain closed all over the country.
• April 14, 2023- Due to Dr. Babasaheb Ambedkar, banks will remain closed in the whole country except Aizawl, Bhopal, New Delhi, Raipur, Shillong and Shimla.
• April 15, 2023- Banks will remain closed in Agartala, Guwahati, Kochi, Kolkata, Shimla and Thiruvananthapuram due to Vishu, Bohag Bihu, Himachal Day, Bengali New Year.
• April 16, 2023- There will be a holiday in banks due to Sunday.
• April 18, 2023 – Shab-e-Qadr will remain closed in the bank in Jammu and Srinagar.
• April 21, 2023- Banks will remain closed in Agartala, Jammu, Kochi, Srinagar and Thiruvananthapuram due to Eid-ul-Fitr.
• April 22, 2023- Banks will remain closed in many places due to Eid and fourth Saturday.
• April 23, 2023- Banks will remain closed on Sunday.
• April 30, 2023- There will be holiday in banks due to Sunday.

The post Bank Holiday List in April 2023: Banks will remain closed for 5 days in the first week of April, see full list first appeared on Rightsofemployees.com.

Pan-Aadhaar linking: The last date for linking PAN with Aadhaar number is 31 March 2023. But do you know whether your PAN is linked with Aadhaar or not. If you have not yet linked your PAN with Aadhaar, do so before the deadline ends. If you are not able to do this then your PAN will become invalid.

The Income Tax Department has made it mandatory to link PAN with Aadhaar. In today’s time, PAN card is needed everywhere from bank to government subsidy.

It is mandatory to link pan card with aadhaar

According to the advisory of the Government and the Income Tax Department, it is mandatory to link PAN with Aadhaar. Those who do not come under the exemption category under the Income Tax Act, then you will have to link your PAN with Aadhaar. Link your Permanent Account Number with Aadhaar before March 31, 2023. Otherwise unlinked PAN will not work from 1st April 2023. You will not be able to do any work like depositing more amount in the bank, withdrawing, buying LIC etc. You need a PAN card in all these works.

Know through SMS whether your Aadhaar is linked with PAN or not

Step 1: Write an SMS – Type UIDPAN followed by a space.

Step 2: After that write the base number 12.

Step 3: After that enter 10 digit PAN.

SMS will look like this-

UIDPAN <12 digit Aadhaar Number> <10 digit Permanent Account Number>

Step 4: Then send it to 567678 or 56161.

Step 5: Wait for some time. If your Aadhaar is linked with PAN, then you will get a message that your PAN is linked with Aadhaar. Wait for a response from the service.

Aadhaar can be linked with PAN through SMS

1. First type UIDPAN (space) 12 digit Aadhaar number (space) PAN number from your mobile

2. Send SMS to 567678 or 56161 from your registered mobile number.

3. You will get a confirmation message for linking Aadhaar with PAN.

The post Pan-Aadhaar Link: Is your PAN linked to Aadhaar, just send it to this number to know first appeared on Rightsofemployees.com.

The answer is yes. Non-resident Indians can also get Aadhaar card made like common Indian citizens. Giving information on this matter, the Unique Identification Authority of India (UIDAI) has told that Indians living abroad can also get Aadhaar card made. There are some terms and conditions for this.

Please tell that any NRI can apply for Aadhaar card from Aadhaar Seva Kendra of any city in India and can get Aadhaar card made by giving complete information. Along with this, he can also update in Aadhaar card using online facilities. However, he should have a valid passport. On the other hand, if the spouse is an NRI, then it is mandatory to have an Indian passport as a document to get his/her passport made.

Know what are the rules

According to UIDAI, Long Term Visa (LTV) document holders can also get Aadhaar, provided they have stayed in India for 182 days or more from the date of application. Non Resident Indian i.e. Overseas Indians who want to get Aadhaar card made in India must have a valid passport of India. This passport can be used as an address proof. Along with this, the thing to keep in mind is that to get an Aadhaar card, you must have an Indian number. Along with this, you will also need an email ID.

Know what is the process

1. NRIs can easily get their Aadhaar card made from Aadhaar center.
2. For this they have to fill the Aadhaar form to an NRI.
3. This form is slightly different from the normal Aadhaar form.
4. Along with this, you will also have to carry your valid Indian passport.
5. Now after filling all the information sought in this form, you will have to fill your e-mail ID.
6. You can submit only passport copy as ID proof.
7. After this, you will have to submit biometric details at the Aadhaar center.
8. After this, you will get an Enrollment ID of 14 numbers in the Aadhaar center.
10. Through this you can easily check the status of your Aadhaar.

The post Aadhaar Card: Any NRI can apply for Aadhaar card from Aadhaar Seva Kendra of any city in India, just some rules have to be followed first appeared on Rightsofemployees.com.

If you are also an SBI customer and use its banking services extensively, then once in a year some deduction is made from your savings account. Often people start circling the banks regarding this deduction.

State Bank has also deducted Rs 206.5 from your savings account, so you must be wondering why the bank deducted this money without you doing any transaction.

From 147 to 295 rupees have been deducted from the account of many SBI account holders. This happened because State Bank of India levies different charges from customers having Yuva, Gold, Combo or My Card (Image) Debit/ATM cards.

SBI charges Rs 175 as annual maintenance fee from people using any of these Debit/ATM cards including Yuva Debit Card, Gold Debit Card, Combo Debit Card, or My Card (Image) Debit/ATM Card.

At the same time, 18% GST is also applicable on this deduction, so Rs.31.5 (18% of Rs.175) GST has been added to the amount, therefore, with Rs.175 + Rs.31.5, the amount becomes Rs.206.5. Now you must have fully understood that why and how State Bank of India deducted Rs 206.5 from your savings account?

The post SBI account holders Alert! Rs 147, 206.5 or 295 has also been deducted from your account.? know the whole reason first appeared on Rightsofemployees.com.

Till now this train was running only 5 days a week. Let us tell you that the Vande Bharat Express started running between Delhi and Varanasi from February 18, 2019.

In view of the increasing number of passengers, Northern Railway has decided to run this train every Sunday, Monday, Tuesday, Wednesday, Friday and Saturday from 20 March. According to Deepak Kumar, Chief Spokesperson of Northern Railway, the Vande Bharat Express running between Varanasi-New Delhi (train number 22436/22435) currently runs on Sundays, Tuesdays, Wednesdays, Fridays and Saturdays. Keeping in mind the convenience of the passengers, now it will be run on Monday also. This train will not run only on Thursdays of the week.

On-board Wi-Fi infotainment, GPS-based passenger information system, plush interiors, bio-vacuum toilets, diffused LED lights, charging point under each seat, heating in the new rake of Delhi-Varanasi Vande Bharat There are modern facilities like ventilation.

Vande Bharat train covers the distance between New Delhi and Varanasi in just 8 hours. 22436 New Delhi – Varanasi Vande Bharat Express leaves Delhi for Varanasi at 6 AM and reaches Varanasi at 2 PM. Similarly, 22435 Varanasi-New Delhi Vande Bharat train leaves Varanasi at 3:00 PM and reaches Delhi at 11:00 PM. This train stops only at Prayagraj and Kanpur between Delhi and Varanasi.

Fare The fare for the chair car of the Varanasi-New Delhi Vande Bharat Express is Rs.1750. This includes base fare Rs 1288, catering charge Rs 308, tax Rs 69, reservation charge Rs 40 and superfast charge Rs 45. If you do not want to have food in the train then you will not have to pay catering charges.

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Western Railway has given this information in a tweet. Railways says that this step has been taken for the convenience of the passengers and for the trains to reach their destination on time. This change in the time table of trains will start taking effect from 28 March. The timings of some trains will be changed from March 30, while for others the timings will change on March 31.

Train number 22474 Bandra Terminus – Bikaner Express will now leave Bandra Terminus at 14.50 hrs. From March 28, 2023, it will run at 14.40. Train number 22951 Bandra Terminus – Gandhidham Express departs from Bandra Terminus at 14.50 pm. This train will run at 14.40 from March 31, 2023. Similarly, train number 09171 Surat-Bharuch MEMU leaves Surat at 18.18. From March 28, 2023, this train will leave at 18.37. Train number 19407 Ahmedabad-Varanasi Express leaves Ahmedabad at 21.55. From March 30, 2023, this train will run from Ahmedabad at 21.45.

Train number 12931 Mumbai Central-Ahmedabad Double Decker Express, train number 19217 Bandra Terminus-Veraval Saurashtra Janta Express, train number 14708 Bandra Terminus-Bikaner Ranakpur Express, train number 22929 Dahanu Road-Vadodara Superfast Express and train number 09155 have also changed . Changes have been made in the arrival time of the train at the stations falling on the route of Surat-Vadodara MEMU special train. This change will come into effect from March 28.

WR to revise the timings of some trains with a view to enhance the punctuality of trains

The departure timings of few trains while the timings at enroute stations of few other trains have been changed@RailMinIndia
@drmbct pic.twitter.com/sEUKQSsBQ1

— Western Railway (@WesternRly) March 16, 2023

Similarly, the time table of train number 20923 Tirunelveli-Gandhidham Humsafar Express will change from March 30 and the arrival time of train number 20931- Kochuveli-Indore Express at mid-stations will change from March 31. Time table of train number 22476 Coimbatore-Hisar AC Express will change from March 1, while train number 20909 – Kochuveli-Porbandar Express will change from March 2. Passengers can get complete information about the schedule of these trains by visiting www.enquiry.indianrail.gov.in.

The post Railway Time Table Changed: Big news for passengers! Railway changed the time table of these 13 trains, check route, train name and new time first appeared on Rightsofemployees.com.

Prior to this, the merger has received necessary approvals from the Central Reserve Bank (RBI), Securities and Exchange Board of India (SEBI), shareholders of HDFC and HDFC Bank, Pension Fund Regulatory and Development Authority (PFRDA) and Competition Commission of India. Apart from this, No Objection Certificate (NOC) has also been received from both the stock exchanges.

$ 40 billion deal: Let us tell you that the HDFC-HDFC Bank merger was announced on April 4, 2022.This is one of the few mega mergers in the corporate history of India. With this acquisition deal of about $ 40 billion, a large company in the financial services sector will come into existence. The combined asset base of the proposed entity will be around Rs 18 lakh crore.

Upon completion of the deal, 100 percent of HDFC Bank will be held by public shareholders, while existing shareholders of HDFC will hold 41 percent of the bank. This is the second such merger in the banking sector. Earlier in October 2001, ICICI Limited had done a similar merger with its banking arm ICICI Bank.

What’s up with the stock: HDFC Bank’s share price is at ₹1572 on the last trading day of the week. The share price has increased by 1.36% compared to a day ago. Similarly, the stock of HDFC also gained momentum and it rose by 1.14% to the level of Rs 2561.

The post Great news for investors! NCLT approves HDFC-HDFC Bank merger, rush to buy shares first appeared on Rightsofemployees.com.

The interest rate that was fixed for the last financial year i.e. 2021-22 was the lowest in 43 years. Last year, the interest rate on PF was reduced from 8.5 per cent to 8.1 per cent. There was no change in the rate of interest of PF in the financial year 2020-21. Just a year before this, the interest rate was reduced from 8.65 per cent to 8.5 per cent in 2019-20.

In March 2022, the CBDT i.e. Central Board of Trustees had recommended an interest rate of 8.1 per cent for over 6 crore active subscribers of EPFO ​​for the financial year 2021-22, leaving an estimated surplus of Rs 450 crore. According to sources, EPFO ​​can retain the current interest rate of 8.1 per cent. This can be done keeping in mind the potential for higher returns in equity investments.

The post PF account holders: Big news! PF interest rates for FY23 will be decided on this date first appeared on Rightsofemployees.com.

During the last one year, many banks have expanded this facility and now the name of Canara Bank has also been added to this list. Now the customers of Canara Bank can also make payment through UPI (RuPay Card UPI Payment) from their RuPay card.

The bank gave this information in the statement

Canara Bank and National Payments Corporation of India (NPCI) issued a joint statement giving this information. It was said in the statement that now the customers of Canara Bank will be able to use their RuPay Credit Card on BHIM App and other UPI Apps. When Canara Bank customers link their RuPay Credit Card with a UPI ID, they will be able to make instant, secure payments.

Benefits to customers and shopkeepers

Now Canara Bank customers will be able to take advantage of increased opportunities by having the facility to use credit cards on UPI, while merchants will also benefit as they will be able to accept credit cards using features like QR codes, NPCI said. And will be able to become a part of the credit card ecosystem.

Started last year

Let us tell you that after the MPC meeting of June last year (RBI MPC Meet June 2022), the Reserve Bank had given the facility to link the credit card with UPI. Then the RBI had said that the facility to make credit card payments on the UPI platform would provide more options to the customers than before. Linking of credit card with UPI has been started with RuPay Credit Card.

Now the customers of these banks will benefit

However, not all banks have got the green signal from the Reserve Bank to use this feature. Although almost all banks, especially government banks, issue RuPay credit cards, but only a few banks’ customers can use their RuPay cards on the UPI platform. So far, the Reserve Bank had given its approval to Punjab National Bank, Union Bank of India and Indian Bank for this. Now Canara Bank has also got this facility.

Link credit card with UPI app like this (How to link RuPay Credit Card with UPI)…

• First open the UPI payment app.
• Click on profile picture.
• Go to the Payment Settings option.
• Select the Add Credit/Debit Card option.
• Enter Card Number, Valid Upto Date, CVV, Cardholder Name etc.
• After giving all the information, click on the save button.

The post NPCI issued a joint statement! Now UPI payment will also be done through the credit card of this bank, check details first appeared on Rightsofemployees.com.

We have become so dependent on UPI Payment Apps for our every transaction that we do many transactions in a day and then it is known that we have crossed the day’s transaction limit. But what is the transaction limit of UPI in a day? This question often comes in front of the customers and now it has been raised in the Parliament as well.

Question raised in Parliament regarding UPI Transaction Limit

Lok Sabha MP Dushyant Singh asked in a written question in Parliament whether there is any limit on the number of online transactions that can be done through a bank on UPI payment apps like Paytm, Google Pay and PhonePe in a day? Along with this, he asked some more questions, such as what are the details of this limit rule, what are the reasons for it? Do public sector banks only apply this limit? Will this hinder the Digital India mission or will the government consider removing these rules?

What was the government’s reply on UPI Transaction Limit?

Minister of State for IT Rajeev Chandrasekhar said that yes there is a limit on the number of online payments or transactions that can be done through the bank in a single day on the use of UPI payment. According to the latest guidelines issued by NPCI (National Payment Corporation of India) on January 10, 2023, only 20 transactions can be done in a 24-hour period from a bank account in P2P ie person-to-person category.

In which the time of the first transaction will be considered as the starting time. This limit has been fixed to protect the customer from possible financial fraud and to comply with the standards for the use of UPI.

In his written reply, the Union Minister said that this limit is applicable to public sector banks including member banks in the UPI UCO-system. The UPI limit is revised from time to time by NPCI to increase customer adoption of UPI and increase the penetration of digital payments.

The post UPI Transaction Limit: Can only 20 transactions be done in a day from UPI? know details first appeared on Rightsofemployees.com.

The Unique Identification Authority of India (UIDAI) has decided to allow free online updating of documents in Aadhaar, a public interest-oriented move that will benefit lakhs of citizens. To take advantage of this offer, you have to visit the MyAadhaar portal.

How long will you get the free offer

UIDAI has taken this decision as part of the Digital India initiative. Users can avail the facility of free documents update by visiting the myAadhaar portal. This free service is available for the next three months i.e. from March 15 to June 14, 2023.

However, you have to keep in mind that this service is free only on the myAadhaar portal, and a charge of Rs 50 will continue to be paid at the Aadhaar center, as is already going on.

How to update Aadhaar

Visit the official website of myAadhaar to update Aadhaar for free. Here you have to login. For this, it is necessary to link the mobile number with the Aadhaar card. Therefore, while updating self, keep the mobile number registered with Aadhaar with you. Enter the Aadhaar number on the portal and proceed by entering the OTP received from the registered mobile number.

Keep Demographic Details Updated to Strengthen Your #Aadhaar.
If your Aadhaar had been issued 10 years ago & had never been updated – you may now upload Proof of Identity & Proof of Address documents online at https://t.co/4k2YjTvwMe ‘FREE OF COST’ from 15 March – June 14, 2023. pic.twitter.com/0Lx1LNxZzE

— Aadhaar (@UIDAI) March 15, 2023

Upload ID and Address Proof

After this, go to the Aadhaar Update section and upload valid Identity Certificate and Address Proof. Proceed by uploading the PDF file of the documents. After the process of Aadhaar update is completed, a 14 digit update request number will be issued. You can also track the update request with this number.

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If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. Thek best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

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Some part of this is deposited in the PF account by the employee and some part by the employer. Recently, news has come that about 98 percent of the contributory companies linked to the Employees’ Provident Fund ( EPF ) have deposited the interest for the financial year 2021-22 till March 6 in the accounts of the members. For the financial year 2021-22, the interest rate on EPF was fixed at 8.1 percent.

In such a situation, if you are also entitled to it, then check as soon as possible whether this amount has been deposited in your PF account or not. For this, you can check the balance by following the steps given below.

Information given in Lok Sabha

Many Members of Parliament and representatives of employees’ organizations have been raising the issue of non-credit of interest for a long time. Therefore, Union Minister of State for Labor and Employment Rameshwar Teli gave this information in a written reply in the Lok Sabha.

The Union Minister said that crediting of interest in EPF accounts is a continuous process and after the implementation of the new software, credit is being done in a prescribed manner. He said that due to the new rules related to TDS, the process of depositing interest has been a bit slow.

Check PF balance like this

Balance check from EPFO ​​portal

• PF balance can be checked from the official website of EPFO. For this visit www.epfindia.gov.in.
• After the window opens, click on the E-PassBook option.
• On the new page click on UAN and enter the password.
• Enter the captcha code given below and click on the login button.
• After login, select the Member ID option and now the passbook will be available in PDF format.

Balance check through SMS or missed call

• To check balance through missed call, give a missed call to the number 9966044425 given by EPFO.
• After a few seconds of disconnection of the call, the complete details of the account will reach you through the message.
• To get information through SMS, a message has to be sent by writing ‘EPFOHO UAN’ to this number.
• After sending the message, complete details will be sent by EPFO ​​through SMS. Please tell that information can be taken in 10 languages ​​through SMS.

Keep these things in mind before taking balance

Before taking information about your PF account by EPFO, keep these things in mind that your UAN should be active. Also, UAN should be linked to any of your bank accounts, Aadhaar and PAN.

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The bank said, the customers who have been contacted for C-KYC should immediately go to the branch and submit their KYC documents. BoB has given this information by tweeting.

Submit KYC documents by March 24

Bank of Baroda (BoB) said in a tweet, notice to customers. Customers who have received notices/SMS/calls for CKYC from the bank are requested to visit their branch immediately and submit the KYC documents to their branch by 24th March. Please ignore if you have already submitted.

C-KYC has replaced KYC. Now there is no need to complete the KYC process again and again to open a bank account, buy life insurance, invest in mutual funds. The records of C-KYC are stored in digital form with CERSAI. With this, institutions will not get a chance to duplicate your data. Also, the institutions will also be able to know whether you have fulfilled the KYC norms or not.

C-KYC has replaced KYC. Now there is no need to complete the KYC process again and again to open a bank account, buy life insurance, invest in mutual funds. The records of C-KYC are stored in digital form with CERSAI. With this, institutions will not get a chance to duplicate your data. Also, the institutions will also be able to know whether you have fulfilled the KYC norms or not.

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Along with this, crores of rupees came in the treasury of the government only because of this order that all vehicles must have FASTag. For this everyone had to buy a sticker and put this sticker on the front windscreen of the vehicle. Scanning through this sticker is easy and vehicles will not have to stand for toll.

For this, big promises were made and facilities were given. Well, there is a government, orders have to be obeyed. Whether you want to or not. So thousands of people emptied their pockets without wanting to and put FASTag on all vehicles as per the orders of the government. The government will have to give you money if you have to walk on the road.

Many people also had to say that the government should construct new highways. Along with this, new expressways should be built. Many people have been angry with the governments that why the existing highways were converted into toll roads. That is, the thing which was being used by paying road tax now had to pay toll tax and FASTag along with road tax. Is.

Till now it was fine but the inconvenience continued till now that one has to wait for half an hour at the toll plaza. The claims of the government are rejected here and the government is being exploited in the name of convenience. It is a different matter that the government is not unaware of the problems being faced at the toll plaza. On behalf of the government, it is clearly indicated to the toll plaza operators that people should not face any kind of problem. For this, from the officers of the toll plaza to the contractors, it has been directed that every vehicle should cross the toll plaza without any hassle.

NHAI’s order to control the line of vehicles at toll plazas

The National Highway Authority has made some rules to control the queue of vehicles on the toll plaza and to keep the toll plaza personnel agile. Do you know that the National Highways Authority has ordered not to allow a vehicle to wait for more than 10 seconds at any toll plaza while traveling on the highway. This order also applies during peak hours.

Yellow line rule at toll plaza

Along with this, a provision has also been given that no line of more than 100 meters should be installed under any circumstances. And if this happens, then the government has ordered that until the line is reduced to 100, then all the vehicles inside that line will be allowed to pass the toll without stopping.

The government has ordered that a yellow line should be made on the toll of every highway to mark the distance of 100 meters from the toll in this way. It is also a clear order that the toll plaza operator should immediately take action to finish the line when the line is set up. From February 2021, 100 percent cashless transactions have been implemented on tolls. Because FASTag is being used at 96 percent toll plazas.

When the order was given, in the order of the National Highways Authority of May 26, 2021, it has also been said that the toll plaza will have to take care that no vehicle should hit any toll for more than 10 seconds. Some people say that in case of not doing so, the driver can take the vehicle even without paying toll.

At the same time, there is a possibility of relaxation in this rule to maintain distance during the Corona period. But, now Corona is gone. And now orders with normal conditions have been implemented everywhere. Read detailed order here

Several calls were made to the National Highway Authority for information on the current situation. No one was ready to pick up both the phone numbers given on the site. Due to not picking up the phone, it was not possible to present his side.

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how much can invest

SBI Sarvottam Term Deposit is a special FD scheme. To take advantage of this, the retail investor will have to invest at least Rs 15 lakh. At the same time, a maximum investment of less than two crore rupees can be made in it. In this, two options of 1 year and 2 years are given by the bank for the investment period. The special thing is that in SBI Best Term Deposit, investors are not given the option of renewable and on maturity the amount is credited to the customers’ accounts.

Explain that in this FD, additional interest rate is also being given to senior citizens, employees, senior citizens.

SBI Best Term Deposit Interest Rate

In this scheme, the bank is giving an interest rate of 30 basis points from the card rate for one year FD and 40 basis points for two years. In this way, if a general investor gets a one-year FD, then he is given an interest of 7.1 percent and senior citizens 7.55 percent. At the same time, 7.40 percent interest is being given to general investors and 7.90 percent to senior citizens on two-year FDs.

Interest rate on normal FD in SBI

In SBI, interest ranging from 3.00 percent to 7.00 percent is being given on normal FDs ranging from 7 days to 10 days. At the same time, interest ranging from 3.50 percent to 7.50 percent is being given to senior citizens.

What is a non-callable deposit?

A non-callable deposit is a deposit that cannot be withdrawn before maturity. If it is withdrawn before the completion of maturity, then you are charged a penalty.

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While the price of 14.2 kg domestic LPG cylinder was increased by Rs 50, the price of commercial cylinder was increased by Rs 350. These prices have come into effect from 1 March.

How much is the commercial LPG cylinder selling in Delhi?

The price of 19 kg commercial LPG cylinder has increased to Rs 2,119.50 in Delhi. At the same time, the price of domestic cylinder has gone up to Rs 1103. However, such a cylinder is also available in the market, whose cost is also low and it is also light, which can be easily carried anywhere.

Composite cylinder is lighter and cheaper

Actually, lighter and cheaper cylinders are being offered to the customers by Indian Oil Corporation Limited (IOCL). The name of this cylinder is Composite Cylinder. It is lighter than a domestic gas cylinder weighing 14.2 kg. Its design is also good, which attracts the customers.

These are the features of composite cylinder.

The empty composite cylinder weighs only 5 kg. 10 kg of gas is filled in it. For this reason its cost is also less. This LPG cylinder is available for Rs.633.5 only. These cylinders are transparent. This shows how much gas is left in it. While its accuracy cannot be estimated in a large cylinder.

Composite cylinders are rust proof.

Not only this, these cylinders are rust proof. There is no explosion in them. These are prepared from fiber material. There are two types of composite gas cylinders. One of 10 kg and the other of 5 kg. Its prices are different in different cities. The price of composite cylinder in your city can be checked by visiting Indian Oil’s website.

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At the same time, changes have also been made in the timing of many trains. In such a situation, before traveling, you should know about the timing of these trains, because if you reach the railway station on the old timing, then you may have to come back or wait for several hours.

Railway has told that the timing of trains with different routes has been changed. The timings of these trains have already been completely changed. These trains include Samparkkranti Express, DWR-MYS Express, Bangalore and Hyderabad trains. Let us know what will be the new time table now.

What will be the new time table 

• Train number 17302- DWR-MYS Express- will leave at 22.10 instead of 21.05 and reach the next day at 7.10 instead of 7.00. This new time table will be applicable from 6th March.
• Train No. 12630 – NZM-YPR Samparkkranti Express will reach Yesvantpur at 5.25 am instead of 5.45 am. This new time table will be applicable from March 8.
• Train number 16590 – MRJ-SBC Express will run at 23.50 instead of 23.59, its timing will be applicable from March 6.
•  Train number 22686 CDG-YPR Express will leave Yesvantpur at 5.25 am instead of 5.45 am. This will be applicable from March 4.
• Train number 16542 PVR-YPR Express will reach Yesvantpur at 5.25 am instead of 5.45 am. This timing will be applicable from March 10.

Contact here for any information 

If you want to know the timing of the trains whose timing has been changed by the Southern Railway or if you want to get any other information, then you can know by calling 139 toll free number.

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Some government banks, led by Punjab & Sind Bank, are offering higher returns of up to 8-8.5% per annum. Due to paucity of funding, banks are offering strong deposit rates to their customers for tenures ranging from 200 to 800 days, beating inflation. This is possible because credit growth has been better this year than deposits.

Fixed Deposit pricing is positive pricing for customers despite the low interest rate of 7%. At the same time, despite the retail inflation rising up to 6.52% in January, the real rates remained positive. Due to inflation being more than 6% in 10 months of 2022, due to six consecutive rate hikes by the Reserve Bank, the repo rate has increased by 250 bps to 6.50%.

The impact of credit growth

Credit growth has seen a 16.5% increase within 15 days as on January 13, 2023. While deposit growth stood at 10.6%. Rates have also increased for other reasons, because the interest rate on one-year deposit of the post office remains at 6.6% and for two years at 6.8%. At the same time , the yield on 10-year government securities is only 7.35%.

Why the lack of funding?

In fact, banks have put the entire blame for the increase in the repo rate since May last year on their borrowers, but they are not able to do so with deposits. Due to this, the situation of lack of funding has arisen. Because of which they have to borrow from the market.

According to the new deposit pricing, any depositor of a public sector bank gets 7 to 7.25% interest for 200 days to 800 days.

These banks are giving the highest interest

• State Bank of India (SBI) is offering 7.10% interest to general citizens and 7.60% to senior citizens for 400 days.
• Punjab & Sind Bank is offering 8% interest to retail depositors and 8.50% interest to senior citizens in 221 days bucket.
• Central Bank is giving interest up to 7.85% to senior citizens and 7.35% to retail customers for 444 days.
• Union Bank of India is giving 7.30% interest to retail customers and 7.80% interest to senior citizens on deposits of 800 days.

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In such a situation, which bank is getting the highest interest on an amount of less than Rs 2 crore for a period of 7 to 10 years? To understand this, we checked the FD rates of SBI, HDFC BANK, AXIS BANK, IDFC FIRST BANK and RBL BANK, which are higher than others in terms of interest offered.

In which bank is getting more interest?

Major banks of the country are offering up to 7.8% interest on FDs for a period of 7 days to 10 years. Now let us understand from the figures of returns in terms of investment of Rs 1 lakh, which bank is getting the highest interest?

• RBL Bank: For general customers, a minimum interest of up to 3.25% is being offered for a period of 7 days. While paying 7.80 percent interest annually for a period of up to 10 years. In this context, an investment of Rs 1 lakh will increase to Rs 2.16 lakh in a period of 10 years.
• IDFC FIRST BANK: For general customers, a minimum interest of up to 3.50 per cent is being offered for a period of 7 days. While paying 7.50 percent interest annually for a period of up to 10 years. The investment amount of Rs 1 lakh will increase to Rs 2.10 lakh on the calculation of maximum interest in a period of 10 years. 
• AXIS BANK: For general customers, a minimum interest of up to 3.50 per cent is being offered for a period of 7 days. While paying 7.26 percent interest annually for a period of up to 10 years. In terms of maximum period and interest, the investment of Rs 1 lakh will be Rs 2.05 lakh.  
• SBI: For general customers, a minimum interest of up to 3% is being offered for a period of 7 days. While paying 7.10 percent interest annually for a period of up to 10 years. If you invest Rs 1 lakh, then after 10 years at an annual interest rate of 7.10 percent, your amount will increase to Rs 2.02 lakh. 
• HDFC Bank: For general customers, for a period of 7 days, a minimum interest of up to 3 percent is being offered. While paying 7.10 percent interest annually for a period of up to 10 years. With an annual return of 7.1%, an investment of Rs 1 lakh will grow to Rs 2.02 lakh over a period of 10 years.

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US Citizenship and Immigration Service (US Citizenship and Immigration Service – USCIS) has given this information through a press release. Will provide a confirmation number for registration. This number will only be used to track the registration. One cannot use this number to track the case status.

This visa is most sought after by Indian IT professionals. H-1B visa is a non-immigrant visa. Which allows US companies to recruit foreign workers in specialized specialized professions. IT companies depend on it to recruit thousands of employees every year from countries like India and China.

You can apply from March 1 to March 17

USCIS said that H-1B visa forms will be accepted from March 1 to March 17. H-1B visa holders are allowed to work in the US for 6 years in specific sectors like engineering and medical. After 6 years the path opens for permanent residence or green card. To register electronically, you must use a myUSCIS Online account.

Along with this, 10 dollars will have to be paid for registration. Explain that America issues 85,000 H-1B visas every year. Of which 20,000 visas have been set aside for workers with advanced degrees from American institutions. The remaining 65,000 visas are issued through a lottery system.

Highest demand for H-1B visa

The demand for H-1B visas remains the highest. In such a situation, there is a demand for reform in the H-1B program. Many are advocating increasing the number of existing visas and simplifying the application process. In FY 2021, Indians got more than 74 per cent of the allocation for H-1B visas.

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Here are some major banks that are offering up to 8% interest on fixed deposits. Let us know which banks are paying interest on FDs to senior citizens.

Under SBI’s special FD, 7.5 percent interest is being given on fixed deposits ranging from 5 years to 10 years. It is available till March 31 and can be invested up to less than Rs 2 crore.

ICICI Bank is giving 7.50 percent interest under Golden Year FD to senior citizens on tenure of five years to 10 years. This special FD is available till 7th April.

HDFC Bank is offering a maximum interest of 7.75 per cent on special FDs for tenures of five years and 10 years. This FD is available till March 31.

Senior citizens on IDBI Bank Fixed Deposit are paying 7.50 percent interest on tenure between 1 year and 2 years. 7.9 percent interest is being given on 444 days tenure and 8 percent interest is being given on 700 days tenure. These FDs are available till March 31, 2023 only.

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It may take time till March 15-20 to get the interest money in the account of all the account holders, however, no announcement has been made on this yet. But if the money comes, then it should also come in your account, for this it is necessary that the KYC process of your account is complete and all the details are updated.

EPFO provides facility of online KYC process

The good thing is that EPF account holders have the facility to update their KYC details online. You get many benefits by keeping KYC details updated. Your account runs smoothly, withdrawal is also easy. You can update EPF KYC through UAN EPFO ​​website. For this you must have UAN (Universal Account Number).

What is the process to update KYC details of EPF Account? (How to update KYC details with UAN?)

• Login to your EPF account on the Unified Member Portal of EPFO.
• Go to the ‘Manage’ section and select ‘KYC’.
• Fill all the information asked and click on ‘Save’.
• You will see ‘KYC Pending for Approval’ on the screen.
• Once your employer approves this update, then you will see ‘Digitally approved by the employer’. On the other hand, after updating the details of Aadhaar, you will see ‘Verified by UIDAI’ on it. 

If you want to update contact details, then follow this process-

• Go to the member portal of EPFO ​​and login by entering the password along with the UAN.
• Go to the ‘Manage’ section and click on Contact details in the drop down menu below.
• Your mobile number and email address must be pre-entered here.
• If any of these have changed, to update it either click on ‘Change mobile number’ or ‘Change email id’ and then click on ‘Get Authorization Pin’.

Let us inform that EPFO ​​had announced in October that EPF Subscribers will start getting money from November. But, till now the interest is stuck. The Finance Ministry had approved interest payment at the rate of 8.1% in June 2022 itself. Soon the interest money should come in your EPF account.

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Now the customers of these 5 banks will not be able to withdraw money. Along with this, many other restrictions have been imposed on these banks. Let us tell you that in view of the deteriorating economic condition of these banks, RBI has imposed restrictions on these banks. Let’s check which banks’ names are included in this list.

Can’t transfer money for the next 6 months

According to the statement issued by RBI, this ban on these banks will remain for the next 6 months i.e. the customers of the bank will not be able to withdraw money for the next 6 months. Along with this, these banks can neither approve loans nor make any kind of investment without giving prior information to RBI.

Many types of restrictions have been imposed, let us tell you that now these banks do not even have the right to give any kind of loan. Apart from this, no new liability can be taken. Along with this, no transaction or any other use of any kind of property can be done.

HCBL Sahakari Bank , Lucknow (Uttar Pradesh), Adarsh ​​Mahila Nagari Sahakari Bank Maryadit, Aurangabad (Maharashtra) and Shimsha Sahakari Bank Regular, Maddur, Mandya (Karnataka) due to current cash position, according to RBI. Customers of banks will not be able to withdraw money from their accounts.

Customers of these banks can make transactions up to Rs 5,000.

Tell that the customers of Urvakonda Co-operative Municipal Bank, Urvakonda (Anantpur district, Andhra Pradesh) and Shankarrao Mohite Patil Co-operative Bank, Akluj (Maharashtra) will be able to withdraw up to Rs 5,000.

Customers will get 5 lakh

RBI said that the eligible depositors of the five co-operative banks will be entitled to receive deposit insurance claim amount up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation.

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Haryana government has increased the pension

In this episode, the pension given to the elderly, disabled and widows has been increased by the Haryana government. On Thursday, Haryana CM Manohar Lal presented the budget for the financial year 2023-24. In this, it was announced to increase the social security pension from the existing Rs. 2,500 per month to Rs. 2,750 per month.

The amount of pension will increase from April 1.

On social security pension, Khattar said that at present, under this, about 29.71 elderly respect allowance, widow pension and disabled pension beneficiaries are being given help of Rs 2,500 per month. Now this amount will be increased to Rs 2,750 per month from April 1, 2023.

Apart from this, in the budget, the state government proposed to provide health insurance Viva Ayushman Bharat Yojana to all families with annual income of Rs 1.80 lakh to Rs 3 lakh according to the family identity card.

Khattar said that under this, a family will get the facility of treatment up to Rs 5 lakh in a listed hospital. For this, a contribution of Rs 1,500 will have to be made every year.

No new tax was imposed

Presenting the fourth budget of his second term, the Chief Minister told the assembly here that there is no proposal to impose new tax in the budget. Financial assistance of Rs 2,500 per month will be given to a girl child taking admission in a government industrial training institute and having an annual income of up to Rs 3 lakh.

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On the other hand, if a child or teenager below 18 years of age earns income from any source (YouTube, Social Media or others), he will also have to pay tax. For this, his income should come under the purview of taxable income. Although there is a ban on child labor in India, but nowadays children are earning huge amount in many other legitimate ways which comes under the ambit of tax.

If this is not done, the Income Tax Department can issue a notice to the parents. The Income Tax Department has put the income of a minor child (ITR on Minor Child Earnings) or money received as gifts, property, investment etc. in the tax net. Let us know what are the rules….

Over 4800 minors filed ITR

Age is no excuse when it comes to filing Income Tax Return (ITR). Many taxpayers are not aware that children/minors also have to pay tax and file returns if they are earning some income. In the financial year 2022-23 till January 31, 2023, more than 4800 minors below the age of 18 years filed their ITR.

What does the income tax law say According to Sujit Bangar, founder of Taxbuddy, ‘Income tax rules say that persons below the age of 18 years are considered minors and are taxed differently. Minors are not required to file their own tax returns, and their income is clubbed with the income of their parents or legal guardians,” under section 64(1A) of the Income Tax Act for persons under 18 years of age. The children’s money will be clubbed with the parent’s income tax return. This means that the income tax return on the child’s wealth will have to be filed by the father.

When is the exemption available

If the child earns less than Rs 1,500 in a year, it will be added to the parent’s income, and exemption under section 10(32) will be available on income up to Rs 1,500. So no tax will be levied in such a case. This income may include interest income, dividend income etc. If the income is more than Rs 1500 in a year, then this income will be considered as the income of the parents, and the parents will have to pay tax here. However, a tax exemption of Rs 1,500 per year per child is available to parents on the income of minors.

According to experts, if a minor is generating income through influencer marketing or other means, then it is considered the responsibility of the parent or guardian to pay tax on behalf of the minor. However, if the income of the minor exceeds the basic exemption limit in a financial year, which is currently Rs 2.5 lakh, then the minor will have to pay tax on the excess amount.

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Today we will tell you about such a facility, under which now senior citizens will be able to travel by air for free. After the discount given by the Railways, now the facility of free travel in flight is available.

Let us tell you that the state government has started the facility , along with the center, many types of facilities are also provided by the state government. Madhya Pradesh Chief Minister Shivraj Singh Chouhan has started a special facility for senior citizens, in which they are being given the facility to travel by air.

The Chief Minister made the announcement

Giving information, the CM of the state has said that the senior citizens of the state will have the option of going on pilgrimage by air from next month. The Chief Minister made this announcement on the occasion of the birth anniversary of Saint Ravidas in Bhind and the launch of development journey of Chambal division.

You can travel on government expenses, let us tell you that many places have been included in this pilgrimage scheme. The birthplace of Saint Ravidas has also been included in this. Explain that under this Teerth Darshan Yojana, senior citizens above 60 years of age can travel to pilgrimage places at government expense.

The state government is upgrading, along with this, the Chief Minister of the state informed that at present there is a municipal council in Bhind. The state government is working on upgrading it as a municipality. Along with this, the city will also get a medical college. The CM said that the ‘Vikas Yatra’ would go to all wards and villages of the state and provide benefits of government schemes to eligible people, while also inaugurating and laying foundation stones of developmental projects.

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The state government has stepped up preparations for the budget 2023. If reports are to be believed then the upcoming budget will focus on youth and women. State Chief Minister Ashok Gehlot has also discussed the budget with youth, sportspersons, women, professionals and talented students in the Government Secretariat.

Will give cooking gas for Rs 500: Ashok Gehlot

Not only this, Chief Minister Ashok Gehlot is going to take special care of women in the budget this time. Assembly elections are going to be held in Rajasthan this year. At present, there is a Congress government in the state which wants to come back to power again at any cost. In the month of December in Alwar, the Chief Minister of Rajasthan, Ashok Gehlot had said something to give relief to the public. Addressing the public, he said that this time I will present the budget and announce in it that we will give 12 domestic cylinders worth Rs. 1,040 for Rs. We will do whatever we can in inflation.

The issue of price rise is serious. We will give 12 gas cylinders in a year at Rs 500 each to BPL families after April 1 next year. No one should remain deprived of benefits of government welfare schemes: Rajasthan CM Ashok Gehlot at Alwar pic.twitter.com/unrGvFwJfp

— ANI MP/CG/Rajasthan (@ANI_MP_CG_RJ) December 19, 2022

What did Ashok Gehlot say before the budget

Let us discuss here that Rajasthan Chief Minister Ashok Gehlot will present the annual budget of the state on February 8. The budget session of the state assembly has started from 23 January. The finance department is also under Gehlot, so the expectations of the people are high this time. A few days ago, Chief Minister Ashok Gehlot said that last year a separate budget was presented for agriculture and this time the budget will focus on youth and students.

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At the same time, while filing income tax online, some things should be kept in mind, so that there is no problem of any kind. There is no more hassle in filing income tax return as before. Gone are the long queues and endless worry of meeting tax-filing deadlines.

E-filing

Now income tax can be filled online as well, that is, its e-filing can be done. Income tax return can be filed in a very short time from your home or office. At the same time, after filing income tax return, one important thing should be kept in mind.

How to download Income Tax Return?

It is important to file ITR on time to avoid last minute stress and penalty. Once you file your ITR, an Income Tax Verification Form is generated through the Income Tax Department so that the taxpayer can verify the validity of the e-filing. These are applicable only if you have filed your return without digital signature.

Income Tax Return Verification Form

After filing income tax, also download the Income Tax Return Verification Form. This form can be downloaded in easy steps. For this, login to the website of Income Tax India. View the e-filed tax return by clicking on the ‘view return/form’ option there.

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Yes, an order has been given by Union Finance Minister Nirmala Sitharaman to simplify the banking system. It was said on behalf of the Finance Minister that banks should make banking operations simple according to the needs of the customers.

With this, more and more customers will be able to connect with them. The Finance Minister suggested in the meeting The Union Finance Minister said last days that banks should pay attention to the facilities of the customers. This will make the process easier for the borrowers.

On behalf of the Finance Minister, it was also told to the banks that the standards of giving loans should be correct. This suggestion was made a few days ago in a meeting between industry representatives and the Finance Minister.

During this, Nirmala Sitharaman asked all the big banks to implement it. Following this suggestion given by the Finance Minister will benefit the customers of all banks including ICICI Bank, SBI and HDFC Bank. The Finance Minister also said that there is a need to make the banking system more and more customer friendly. You have to take care of the facilities of the customers.

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According to the RBI report, banks will remain closed for 10 out of 28 days in the month of February. Let us check on which days there will be no work in the bank-

RBI issues the list

The list of bank holidays is already issued by the Reserve Bank of India, so that customers and employees do not face any kind of trouble. According to the official website of RBI, banks will remain closed for 10 days in February.

Bank Holidays List February 2023

• 5 February 2023 – Banks across India will remain closed due to Sunday
• 11 February 2023 – Banks across the country will remain closed due to second Saturday
•  12 February 2023 – Banks across India will remain closed due to Sunday
• 15 February 2023 – Banks of Imphal will remain closed due to Lui-Ngai-Ni
• 18 February 2023 – Ahmedabad, Belapur, Bengaluru, Hyderabad, Kanpur, Lucknow due to Mahashivratri Banks will remain closed in Mumbai, Nagpur, Raipur, Ranchi, Shimla, Thiruvananthapuram.
• February 19, 2023 – Banks across India will remain closed due to Sunday
• February 20, 2023 – Banks will remain closed in Aizawl due to State Day
• February 21, 2023 – Banks will remain closed in Gangtok due to Losar
• February 25, 2023 – Banks across the country will remain closed due to fourth Saturday
• February 26, 2023 – Banks across India will remain closed due to Sunday

You can take advantage of online facilities

Tell me, you can also take advantage of online facilities due to bank holidays. That is, you can do money transactions through online banking even on holidays

Check Official Link

For more information about bank holidays, you can also visit the official link of Reserve Bank of India https://rbi.org.in/Scripts/HolidayMatrixDisplay.aspx . Here you will get information about bank holidays of every state every month.

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People are hopeful that many tax relief announcements can be made by the government in this budget and tax slabs can be changed. On February 1, 2023, the budget speech will be given in Parliament by Finance Minister Nirmala Sitharaman.

Budget 2023 In such a situation, we are going to give you information about the tax slab before the budget. At present, tax is collected according to two tax slabs. In this, the name of one is Old Tax Regime and the name of the other is New Tax Regime. Today we are going to update you about the amount on which 5% tax is levied in both the tax slabs.

Income Tax First talk about Old Tax Regime, then if your age is less than 60 years, then according to the financial year 2022-23, you will have to pay 5% tax on income between Rs 2.5 lakh to Rs 5 lakh per annum. On the other hand, if your age is between 60 to 80 years, then you will have to pay 5% tax on income from Rs 3 lakh per annum to Rs 5 lakh per annum.

Income Tax Slab Apart from this, if tax is to be filed according to the New Tax Regime according to the financial year 2022-23, then people of all ages will have to pay 5% tax on income between Rs 2.5 lakh to Rs 5 lakh per annum.

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The government has made a big change in the ITR rules. From now on, certain people will not have to file income tax returns. Finance Minister Nirmala Sitharaman had announced this in the budget.

The Finance Ministry has announced that from now onwards such senior citizens above 75 years of age will not have to file income tax returns. Let us tell you that those senior citizens who have only pension or interest from the bank, then they will not have to file ITR. The Finance Ministry has given information about this by tweeting.

Under which act will you get the benefit?

The government has told that a new section Section 194P has been added to the Income Tax Act, 1961, under which senior citizens will get this benefit.

As announced in Budget FY 2022-23, senior citizens above 75 years of age, having only pension and interest income, are now exempted from filing Income Tax Return. #PromisesDelivered pic.twitter.com/iuyIzyQPnJ

— NSitharamanOffice (@nsitharamanoffc) January 5, 2023

CBDT has given the information While giving the information, the Central Board of Direct Taxes has told that a notification has been issued regarding this. Apart from this, amendments have also been made in Rule 31, Rule 31A, Form 16 and 24Q and this sector has been operationalized.

The last date to start manufacturing has been extended by 1 year for full tax benefits as promised . Now its last date has been made 31 March 2024. The Income Tax Act provides many concessions and exemptions along with making provisions for tax on the income of the citizens. Tax payers also get a lot of relief from these concessions and exemptions. Keeping this in mind, an important decision was taken by the Modi government in the budget of 2018.

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The government is likely to increase the annual basic exemption limit from the current Rs 2.5 lakh to Rs 5 lakh under both the old and the new tax regime in the coming budget. The current annual basic exemption limit of Rs 2.5 lakh (under both old and new tax regime) for tax payers below 60 years of age remains the same from FY 2014-15. This limit may be reconsidered considering several factors like rise in cost of living, inflation, number of taxpayers required to file income tax returns, tax revenue foregone by the government etc.

From the financial year 2014-15, the deduction limit under section 80C of the Income Tax Act, 1961 (Act) has been capped at Rs 1.5 lakh. Most of the deductions under Section 80C encourage taxpayers to invest in long-term savings such as Public Provident Fund (PPF), National Pension System (NPS) and fixed deposits which provide long-term finance for infrastructure projects in the country. does. Apart from this, the taxpayer spends the amount required to repay the home loan, insurance for self and dependents and children’s education. Therefore, it is an expectation that the deduction limit may be increased from Rs.1.5 lakh to Rs.3 lakh.

Tax-free medical reimbursement and traveling allowance exemption was withdrawn by applying standard deduction from the financial year 2018-19. Since then, while the amount of the deduction has remained constant, medical expenses and fuel costs have increased. Thus, there is a mater to consider increasing the standard deduction from the existing limit of Rs.50,000 to Rs.1 lakh.

Currently, the deduction limit for health insurance premium is Rs 25,000, including checkup for self, spouse and children, and Rs 50,000 for parents of whom at least one is a senior citizen. Considering that there has been an increase in the cost of hospitalization and medical expenses, these limits may be raised to Rs.50,000 and Rs.1 lakh respectively.

Child Education Allowance is currently exempt to the extent of Rs 100 and Rs 300 per child per month (up to a maximum of two children) for children’s education and hostel expenses respectively. This amount of exemption was fixed about two decades ago. Therefore, in view of the increase in the cost of education in recent times, there is a possibility of capping these exemptions to at least Rs 1,000 and Rs 3,000 per child per month respectively.

The deduction for interest on home loan is currently Rs 2 lakh. With interest rates rising and the deduction available for housing interest being capped at Rs 2 lakh, home loan buyers face a challenge in terms of non-tax deductible interest expense. Keeping the same in mind, this deduction can be increased from the existing limit of Rs 2 lakh to Rs 5 lakh. Also, this deduction (interest on home loan on own property) is not allowed under the new tax regime. Given that buying a home is a long-term financial commitment, it can also be assessed for providing this deduction under the new tax regime.

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But before the budget, the Finance Minister has given a big gift to the senior citizens. The rules have been amended for this. Fulfilling the promise made to senior citizens, the Finance Ministry has given information about this by tweeting.

what was said in the tweet

According to the tweet, senior citizens above 75 years of age, who have only pension and bank interest as their source of income, will get relief. Apart from this, there will be no need for them to file income tax. The round of discussions is going on before the budget 2022 regarding relief in income tax. Employed people are waiting for relief in the income tax slab. But before that good news has come for the elderly.

As announced in Budget FY 2022-23, senior citizens above 75 years of age, having only pension and interest income, are now exempted from filing Income Tax Return. #PromisesDelivered pic.twitter.com/iuyIzyQPnJ

— NSitharamanOffice (@nsitharamanoffc) January 5, 2023

Will get tax exemption

In the tweet, the Finance Ministry said that tax exemption has been given to elders above 75 years of age. Relief will be given to those people whose income is pension or interest from banks. For this, the government has added a new section in the Income Tax Act. In order to benefit citizens above 75 years of age, a new section section 194-P has been added by amending the rules of the Income Tax Act, 1961. Banks have also been informed about this amendment.

The Central Board of Direct Taxes has said that notification has been issued for the forms and conditions related to it. Along with this, necessary changes have also been made in Rule 31, Rule 31A, Form 16 and 24Q of the tax. The Finance Minister had also announced about this in the 2022 budget. Now the bank in which the elderly will have an account, the same bank will deduct whatever tax is made on their income. For exemption in tax return, senior citizens will have to fill Form 12BBA and submit it to the bank.

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In the new year, in the first week of January, many banks including Bandhan Bank, Punjab National Bank, Yes Bank and Kotak Mahindra have announced to increase the interest rate. The increased rates will be applicable for fixed deposits up to ₹2 crore. Some economic analysts predict that RBI may announce or implement another hike in February 2023. Due to this, the possibility of further increase in interest rates has increased in the coming days.

• Punjab National Bank on January 1 announced an increase in the rates of interest on savings accounts and fixed deposits. PNB increased the interest rate on savings account by 25 basis points, while increased the interest rate on FD by up to 50 basis points. The bank is now offering 4 to 8 percent interest rate on FD.
• Indian Overseas Bank (IOB) on January 1 increased the interest rate on short-term FDs of 7 to 90 days by 75 basis points. The bank currently offers a maximum interest of 6.55% on FDs of 444 days. While the additional rates for senior citizens remain at 0.50% and 0.75% respectively.
• On January 1, Punjab and Sindh Bank has announced an increase in the interest on FDs. The bank is currently offering 2.80% to 6.25% interest on Fixed Deposits with maturities ranging from 7 days to 10 years, while the rate for a tenure of 601 days is 7%.
• Bandhan Bank has announced an increase in interest on FDs on January 5, 2023. The bank currently offers 3.00% to 5.85% on FDs maturing in 7 days to 10 years, while for senior citizens it ranges from 3.75% to 6.60%. The bank is giving maximum interest rate of 7.50% to general citizens and 8% interest to senior citizens.
• Kotak Mahindra Bank increased interest rates on savings schemes by up to 50 bps on January 4, 2023. On FDs maturing in 390 days to less than two years, the bank is now offering a maximum interest of 7% to the general public, while the rate for senior citizens is 7.50%.
• Yes Bank has announced a change in the interest rate on FDs up to ₹ 2 crore on January 3, 2023. The bank is offering interest between 3.25% and 7.00% to the general public, while the rate for senior citizens is 3.75% to 7.75% on deposits ranging from 7 days to 120 months.

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Instructions were given to do so. In the circular issued by the Employees’ Provident Fund Organization (EPFO) on December 29, the Central Government has ordered the implementation of the Supreme Court’s directions. The Regional Offices have been asked to implement the directions contained in para 44 (9) of the Supreme Court’s judgment dated November 4, 2022, within the prescribed time limit.

Along with this, the regional offices will also have to give adequate publicity to the decision taken by the EPFO.

There was an increase in the pensionable salary limit

Earlier, the Supreme Court had upheld the Employees Pension (Amendment) Scheme 2014 in its decision. The EPS revision (August 2014) raised the pensionable salary limit from Rs 6,500 per month to Rs 15,000 per month. In addition, members were allowed to contribute 8.33 per cent of their actual salary (if it exceeds the limit) to the EPS along with their employers.

In this, all EPS members were given 6 months to opt for the revised scheme. In its order, the apex court had given 4 months more time to the eligible subscribers to opt for higher pension option under EPS-95.

When can the money deposited in PF account be withdrawn?

After retirement, you can withdraw the money deposited in your PF account anytime. Apart from this, you can withdraw the entire amount of your EPF even after 2 months of leaving the job. If you have lost your job and you are unemployed for 2 months, then even in such circumstances you can withdraw the entire amount of PF.

However, if you want to make partial withdrawal of PF while working, then you have to follow some rules. Money deposited in PF account is received within 3 to 7 days (Working Days) of the application.

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In this series, the Ministry of Labor is running a scheme named EPS-95 for EPFO ​​account holders. Under this, the account holders get minimum monthly pension. EPFO has informed its account holders about this scheme by tweeting.

Employees’ Provident Fund Organization ( EPFO ) gave information about the benefits and features related to EPS 95 by tweeting. At present, there are more than 6 crore subscribers of EPFO ​​and 75 lakh pensioners across the country, who will get its benefit. Let us know in detail about EPS 95 …

Major advantages of EPS 95 The special thing is that the EPS-95 scheme covers the account holders as well as their widowed man or woman as well as children. Under this scheme, if an account holder dies during his job, then his spouse is given a minimum monthly pension of ₹ 1000.

• In this scheme, the member gets pension on retirement at the age of 58 years.
• The initial member pension (if unemployed) is available from the age of 50 years in the scheme.
• There is a provision for disability pension if the member is permanently and totally disabled during the service period.
• On the death of the account holder, two children get an amount equal to 25 percent of the pension his or her spouse is getting.
• Both the children get equal amount of 25-25 per cent till the age of 25 years.
• Pension to the dependent father/mother on the death of the member account holder provided there is no nominee of the family or any other member.
• Please tell that the full name of this scheme is Employees Pension Scheme-1995. This scheme of EPFO ​​was named EPS-95 because it was started in the year 1995.
• Employees’ Provident Fund Organization is one of the largest social security organizations in the world. This organization keeps on offering different schemes for its account holders. EPFO schemes can be very useful for you in times of trouble.

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An announcement can be made by the government on the dearness allowance and dearness relief allowance for 65 lakh employees and 50 lakh pensioners in the Modi cabinet meeting to be held on Friday. Apart from this, the rapidly growing case and prevention of Kovid-19 is also expected to be discussed in this meeting. Shobha Karandlaje said that the free ration available under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) can also be extended further.

This will be a New Year’s gift for the employees, a decision can be taken on the increase of 4 percent dearness allowance from the Modi cabinet. If this announcement is made by the government, then it will be a New Year gift for the employees. The figures of AICPI index till October have been released by the Labor Ministry. The AICPI index for October has increased by 1.2 points as compared to September and has reached the level of 132.5. In September it was 131.3 percent.

DA will increase to 42 percent!

If DA is increased by 4 percent, then it will increase to 42 percent. Based on the DA hike in September, it is currently at 38 percent. After this increase, there will be a good increase in the salary of the employees. Under the Seventh Pay Commission (7th Pay Commission), DA hike is done twice every year by the government. In January 2022 and July 2022, a total increase of 7 percent DA was announced.

Who releases the data?

Let us tell you that it is decided on the basis of AICPI index that how much will be the increase in dearness allowance? On the last working day of every month, the figures of All India Consumer Price Index (AICPI) are released by the Labor Ministry. This index has been prepared for 88 centers and for the entire country.

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Income Tax Saving: Form-16 has been issued by the companies. The last date for filing ITR has been fixed by the Income Tax Department as July 31. In such a situation, if you are also thinking of paying tax on income of 10 lakh rupees, then you are wrong.

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If you also make fixed deposits, then know that RBI has made a big change in FD rules. The new rules of FD by RBI have also become effective. On one hand, after increasing the repo rate of RBI, many government and non-government banks have also increased the interest rates on FDs. Therefore, if you are also going to get FD done, or have got it done, then definitely read this news before that. Otherwise you may have to bear the loss.

Change in maturity rule of FD

RBI has changed the rules of Fixed Deposit (FD), now if you do not claim the amount after completion of maturity, then you will get less interest on it.
– The interest you get will be equal to the interest you get on the savings account.
Currently, banks usually pay more than 5% interest on FDs with a long tenure of 5 to 10 years.
At the same time, the interest rates on savings account are around 3% to 4%.

RBI ordered

According to RBI, . The new rule will apply to deposits in all commercial banks, small finance banks, cooperative banks, local regional banks. If the Fixed Deposit matures and the amount remains unpaid or unclaimed, the interest rate applicable to the savings account or the interest rate prescribed for matured FDs, whichever is less, will be given

Know what the rules say?

For example, understand that if you have got an FD with a maturity of 5 years, which has matured today, but you are not withdrawing this money, then there will be two situations.

1. If the interest received on FD is less than the interest received on the savings account of that bank, then you will continue to get FD interest only.

2. If the interest received on FD is more than the interest received on the savings account, then you will get the interest received on the savings account after maturity.

What were the rules earlier?

Now if we talk about the earlier rule, earlier when your FD was matured and if you did not withdraw its money or did not claim it, then the bank used to extend your FD for the same period for which you had earlier FD It was But now it is not so. Now if you do not withdraw money on maturity, you will not get FD interest on it, so it is better that you withdraw money immediately after maturity. This new rule has become effective.

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It will depend on many factors like current age, employment status, risk appetite, health status, cash flow requirement, taxes etc. This eligible employee should evaluate other options and then choose There has been a lot of discussion on the Supreme Court’s order related to more pension contribution. Is this good news for the members of Employees’ Pension Scheme ie EPS ? What is the significance of this decision?

Employees contribute about 12 per cent of their salary every month to the provident fund and the same amount is deposited by the employer. Out of the employer’s contribution, 8.33 per cent goes towards EPS. However, a wage ceiling (which is Rs 15,000 at present) remains in place for this purpose. In other words, the pension contribution per month does not exceed Rs 1,250.

Even though scheme employees have been given the option to contribute on higher wages to the EPS scheme , in practice not many employees have opted for it.

Increase in wage ceiling

In August 2014, when the notification was issued to increase the wage ceiling from Rs 6,500 to Rs 15,000 per month, some other changes were also made, which are as follows:

Those earning more than Rs 15,000 per month will not be eligible to become EPS members. The pensionable salary will be calculated on the average of the last 60 months’ salary to determine the pension, whereas the current system is the average of 12 months.

Existing members who are paying contribution on higher salary were given 6 months time to give a joint declaration confirming the option to contribute pension on higher salary.

If the joint declaration is not submitted, their contribution to EPS will be transferred to PF accounts and future EPS contribution will be capped at the wage ceiling. This notification was challenged in various courts and finally the Supreme Court gave its verdict on November 4, 2022.

The Supreme Court considered the challenges faced by the employees due to ambiguity in the provisions and ruled that the employees would have four months to opt for higher pension contribution.

EPFO was instructed to issue guidelines related to it within eight weeks. This opportunity was available to all employees who had become EPS members by September 1, 2014.

Higher pension contribution

The higher pension contribution will definitely make the employee eligible to get higher pension. This may sound like an attractive proposition as the pension will be based on the average of the last 60 months’ salary, while the contribution will be made at very low salary levels during the service period.

However, this is not the only factor that needs to be considered before making a decision. Why so? Simply because the funds going to EPS will be transferred from the PF account of the employees along with the interest.

An additional payment of 1.16 per cent from the salary will also be made as the difference from the PF contribution of the employees till a legal amendment is made to do away with this requirement. This would mean that now no one would be eligible to withdraw that portion outright.

Now the question arises whether EPS members should contribute to the EPS scheme on higher salary? It will depend on many factors like current age, employment status, risk appetite, health status, cash flow requirement, taxes etc. This eligible employee should assess the other options and then choose.

So how can an employer help? They can sensitize the employees and enable them to take informed decisions. Overall, there is still a long way to go.

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Actually, the central government employees have been waiting for some big decisions from the center for many months and there is a possibility that they may get 3 gifts related to salary increase from the center in the coming new year. This includes increase in DA, fitment factor and payment of outstanding DA. According to reports, government employees can get their gift from the government in the new year.

Decision on outstanding DA of 18 months The DA of the last 18 months from January 2020 to June 2021 is still pending. According to media reports, if the DA is calculated for 18 months, then it can reach from thousands of rupees to lakhs of rupees. In such a situation, the employees are hopeful that a decision can be taken on the outstanding DA of 18 months in the coming year.

Increase in fitment factor

A decision to increase the fitment factor can be taken after next year’s Union Budget through the Central Government. If the fitment factor is increased, then there will be a significant increase in the salary of the employees. Government employees are hopeful that a decision on the fitment factor can be taken soon through the government.

Next DA Hike

If reports are to be believed then in view of the high inflation rate for government employees, DA can be increased by 3 to 5 percent in the new year. Recently, the Union Cabinet had approved 4 percent Dearness Allowance and Dearness Relief for government employees and pensioners payable from 01.07.2022.

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Dearness allowance arrears for 18 months. It has been clearly stated by the government that it is not practical to issue arrears of Dearness Allowance for 18 months. If you remember, during the Corona epidemic, the work was done to stop the Dearness Allowance (DA) received by the central employees and Dearness Relief (DR) of the pensioners.

Minister of State for Finance Pankaj Chowdhary gave a written reply to a question in the Rajya Sabha recently in this regard, in which it was clearly stated that the release of outstanding installments of dearness allowance and dearness relief to central government employees and pensioners, which were stopped during the Corona period, is not possible from anywhere. Doesn’t seem practical. Due to the adverse effects of Covid in the year 2020 and the welfare measures taken by the Centre, its fiscal impact was seen after the financial year 2020-21.

Central government received application in this regard

Minister of State for Finance Pankaj Chowdhary informed the House that the government has received several applications from various employees’ and pensioners’ associations regarding release of DA and DR for 18 months. Let us discuss here that in view of the economic situation caused by the epidemic, the government had done the work of stopping the 3 installments of DA and DR payable from January 1, 2020 to January 1, 2021.

Later, the Modi government gave gifts to the employees.

It is worth mentioning that a month before Diwali, the Modi government at the center had spread a smile on the faces of the central employees. The dearness allowance (DA) of central employees was increased by 4 percent by the central government. Central employees used to get 34 per cent DA, which has now been increased to 38 per cent.

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Fluctuations on Senior Citizens FD Interest Rate

Fixed Deposit (FD) is considered to be the safest investment option. Amidst high inflation and volatility in the stock market, many people are opting for Fixed Deposit (FD). You can invest in low-risk financial instruments from banks, non-banking financial institutions and post offices.

Senior citizens FD Interest Rate

Tamil Nadu Power Finance and Infrastructure Development Corporation Limited is one such government company which is offering very attractive interest rates on Fixed Deposits (FDs).

The company has decided to offer 8.5 percent interest rate to senior citizens customers. The company has currently offered two options as per the requirement of the investors. One is Non Cumulative Fixed Deposit and the other is Cumulative Fixed Deposit.

Non Cumulative Fixed Deposit

Investors can get monthly, quarterly and annual interest under this fixed deposit. When the fixed deposit matures, they can withdraw their investment. This fixed deposit can be done for tenures of 2, 3, 4 and 5 years. The interest rates on it for non-senior citizens range between 7.25 per cent to 8 per cent depending on the tenure.

At the same time, senior citizens get interest at the rate of 8.5 percent. By the way, let us tell you that only on FDs maturing in 60 months, they will get an interest rate of 8.5 percent. FDs maturing in 48 months will get 8.25 percent interest.

Cumulative fixed deposit

Cumulative fixed deposit is another product of Tamil Nadu Power Finance and Infrastructure Development Corporation Limited which can be availed by senior citizens. In this, the interest rate will be compounded quarterly, which will be paid to the investors on maturity.

The tenure of this fixed deposit is also 1, 2, 3, 4 and 5 years. The interest rate has been fixed between 7.25 percent to 8.5 percent according to the time period. People of 58 years and above can avail 8.5 per cent interest rate on fixed deposits of 60 months.

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Let us tell you that it can also be opened in the name of children above 10 years of age. If you open this special account (Post Office Monthly Income Scheme) in the name of your children, then you will not even have to worry about his school fees. Let us know all the details related to this scheme.

Where and how to open account?

You can open this account (Post Office Monthly Income Scheme Benefits) in any post office.
Under this, a minimum of Rs 1000 and a maximum of Rs 4.5 lakh can be deposited.
At present, the interest rate under this scheme (Post Office Monthly Income Scheme Interest Rate 2021) is 6.6 percent.
– If the child’s age is more than 10 years, then you can open this account (MIS Benefits) in his name
.
The maturity of this scheme is 5 years, after that it can be closed.

Know the calculation

If your child is 10 years old and you deposit Rs 2 lakh in his name, then every month your interest will become Rs 1100 at the current rate of 6.6 per cent.
In five years, this interest will become a total of 66 thousand rupees and in the last you will also get a return of 2 lakh rupees (Post Office Monthly Income Scheme In Hindi).
In this way, you will get 1100 rupees for a small child, which you can use for his education.
This amount can become a good help for the parent.
Similarly, if you deposit Rs 4.5 lakh, then you will get about Rs 2500 every month

The post Post Office MIS: Dhansu Scheme of Post Office! Open account of children above 10 years, will get 2500 rupees every month first appeared on Rightsofemployees.com.

It was told on behalf of the company that it plans to invest $ 400 million to make both its wide-body fleets, including 27 Boeing B787-8 aircraft and 13 B777 aircraft, as new.

The comfortable economy cabin will be introduced

. It was told by the airline that in this change, the interior of the cabin will be completely changed. Apart from this, new type of seat and good arrangement of entertainment inside the aircraft will be done in all classes. It was told that expensive and comfortable economy cabins would be introduced in both the fleets. First class cabin will be restored in B777.

On the other hand, after coming to the Tata Group, Air India’s operations and staff etc. have been changed. Air India has taken the aircraft on lease to expand the existing aircraft fleet. These include both A320 Neo and Boeing 777 aircraft.

The post Good new for Air India passengers, the c will provide this special facility in the old plane first appeared on Rightsofemployees.com.

If the customers want to continue this service, then they can take its customized version, but for that they will have to inform the bank first. Yes Bank is discontinuing the balance alert service provided through SMS. The customers who are getting balance alert SMS service under any package will not get it from tomorrow, December 1. However, if the subscription time of your package is left, then you will continue to get this service till the subscription is valid.

Yes Bank issued alert

Some time ago Yes Bank had issued an alert message for its customers and this message was regarding the SMS balance alert facility of Yes Bank that the bank is going to stop this service from 1st December. It has informed all its customers about the closure of this service through e-mail and SMS. For whatever work they use the SMS service, customers will now have to adopt other methods. For example, you can use mobile banking to know the balance.

This is how you can take advantage of these services

Yes Bank said that customers can check account balance using online facilities of the bank like Yes Mobile, Yes Online, Yes Robot etc. However, customers can customize the SMS service as per their convenience. You can register for SMS service. If some changes have to be made in that service, then those can also be done.

This is how to register for service (How to Register for Yes Bank Service)

These are the steps

Step 1 : Log in online with your Yes Bank customer ID and password.

Step 2: Click on Menu at the corner of the page.

Step 3: Click on Alert on Profile Manage.

Step 4: Select the account to be modified, registered or de-registered.

Step 5: Select the type of alert.

Step 6: Once you have selected the alert, save it. Your service will be activated.

The post Yes Bank issued alert! Bank customers must complete their work today, otherwise…. first appeared on Rightsofemployees.com.

At the same time, there are some schemes in which interest is more than fixed deposit ie FD. National Saving Certificate (NSC), Sukanya Samriddhi Yojana, Senior Citizen Saving Scheme (SCSS), Kisan Vikas Patra (Kisan Vikas Patra – KVP) are all such schemes. Good money can be made in a safe way by investing in them.

In such a situation, if you want to invest money in a government scheme for a long time and also want to avoid risk, then the Kisan Vikas Patra scheme of the post office can be a good option for you. Any adult citizen can open his account in this. If you want, you can also open a joint account in the name of 3 people.

Investment in KVP will double your money

Kisan Vikas Patra (KVP) is a savings scheme provided by the Government of India. This is a double money scheme of the Government of India where you get interest at the rate of 6.9% per annum and it doubles in 124 months (10 years and 4 months). You can start with investing as little as Rs 1,000 in KVP. There is no maximum investment limit in this. You can open any number of KVP accounts.

Post Office’s National Saving Certificate Scheme

6.8 percent interest is being received on the National Saving Certificate of the Post Office. Along with guaranteed returns on NSC, tax exemption is also available on the amount invested. The maturity period of this scheme is for 5 years. Your money will double in about 10.59 years on investment in this 5-year savings scheme.

Time deposit scheme

Post office time deposit is a great scheme to double the money. In this, the benefit of interest is available at the rate of 5.8 percent on time deposits ranging from 1 to 3 years. By investing in it, your money will double in about 13 years.

Sukanya Samriddhi Yojana

Post Office’s Sukanya Samriddhi Yojana is currently getting interest at the rate of 7.6 percent. A maximum investment of Rs 1.5 lakh and a minimum of Rs 250 can be made in this scheme in a financial year. Annual compound interest is available on this scheme. This post office scheme will double your money in nine and a half years i.e. 113 months. By the way, after 21 years of investing in this scheme, the benefit of maturity is available.

Senior Citizens Savings Scheme

Your money will double in about 113 months in the Senior Citizen Savings Scheme of the Post Office. In this scheme, the benefit of interest will be available at the rate of 7.6 percent.

The post Post Office New Scheme: Your money will double in about 113 months in Post Office Senior Citizen Saving Scheme first appeared on Rightsofemployees.com.

If you do not submit the life certificate by November 30, you may face problems in getting pension. Also, banks are going to remain closed for 13 days in December. Let us know the details of these rules.

PNG, CNG prices will be fixed

Mostly on the first date or first week of every month, the prices of PNG, CNG are fixed across the country. In Delhi and Mumbai, companies change the rate in the first week of the month. If we look at the trend of the last few months, the prices of CNG and PNG have increased in Delhi-NCR and Mumbai.

LPG cooking gas cylinder prices will be fixed

The prices of LPG Rasoi Gas Cylinder are fixed on the first of every month. Last month, the government had reduced the prices of 19 kg commercial cylinders. However, there was no change in the price of 14 kg domestic cylinder. This time it is expected that the government will reduce the price.

Bank will remain closed for 21 days and stock market for 13 days.

Banks are going to remain closed for a total of 13 days in December 2022. The 13 days of bank holidays include weekend holidays on the second and fourth Saturdays and all Sundays. December marks Christmas, the last day of the year and Guru Gobind Singh’s birthday, on which banks are closed. All private and public banks in India remain closed on holidays. However, some banks observe local festivals and holidays and remain closed on that day in the state. When the banks are closed, you can do most of your work through online banking.

4. Pensioners have to submit life certificate by 30th November

Pensioners have to submit their annual life certificate by 30 November 2022 to continue receiving pension. Pensioners can submit the Life Certificate by visiting the branch in person or online. They will have to complete this work by 30 November. So that, their pension does not stop and they do not have to worry about the subsequent hassles.

The post Financial Rules from 1st December: Many rules related to your daily life will change from 1st December. first appeared on Rightsofemployees.com.

There is big news for Aadhaar card holders. From time to time, new updates regarding Aadhaar are issued by UIDAI, so that the users do not face any kind of problem and they can deal with their domestic or government work. Another big update has been released by UIDAI.

UIDAI has written in its official tweet that now you can easily get the demographic details (name, address, date of birth, gender, mobile and email) updated by paying a fee of just Rs 50.

UIDAI has written in its official tweet that now you can easily get the demographic details (name, address, date of birth, gender, mobile and email) updated by paying a fee of just Rs 50.

Apart from changing the address in your Aadhaar, you can also download e-Aadhaar by visiting the Aadhaar Centre. If your number is updated in Aadhaar, then you can also verify the income tax return. Apart from this, NPS account can also be opened.

Apart from this, you can also find out about your nearest Aadhaar Seva Kendra in just one click. For this you just have to click on this link https://bhuvan.nrsc.gov.in/aadhaar/.

The post UIDAI issued guidelines! Big update regarding name, date of birth and phone number in Aadhaar first appeared on Rightsofemployees.com.

The coming days or rather the coming year can be very good for the central employees. Many gifts are waiting for them. From the year 2023 itself, preparations will start regarding the increase in his salary. But, one gift that they will get without any planning is dearness allowance. It is available every year and will continue to be available in the future. But, the twist in the story will come when the year 2024 comes.

From here there will be a tremendous increase in the salary of the employees. There is a reason behind this. The government had issued a notification in the year 2016, stating that if the dearness allowance crossed 50 per cent, it would be made zero for the employees and 50 per cent DA money would be added to the basic salary. Let us understand how much the salary of the employees will increase due to this rule and how the calculation will be done.

Dearness Allowance (DA Hike) will increase by 4 percent in January

Central employees are getting 38 percent dearness allowance from July 2022. Now the next revision is to be in January 2023. Its figures have started coming. The dearness allowance figures from July to September have come. At the end of November, the number of October will also come. It is clear from this that there can be an increase of 4 percent in the dearness allowance next time also.

According to experts, inflation is increasing continuously all over the world. However, steps are being taken to control it in India. Last month, there was a decrease in retail and wholesale inflation. But, global inflation still remains very high. Its effect may still be there. In such a situation, there is only hope of increase in dearness allowance. The figures that are visible so far are pointing towards an increase of 4 percent. If there is an increase of 4 percent in January also, then the dearness allowance will reach 42 percent.

Merger will happen after 50 percent DA

Dearness allowance is revised every six months for the employees. But, under the 7th Pay Commission, a condition has been added to it. The condition is that when the dearness allowance of the employees crosses 50 per cent, it will be merged with the basic salary. And dearness allowance ie DA will be made zero.

When it is 50 percent, the money that the employees will be getting as dearness allowance will be added to the basic salary and the revised salary will be added to the allowance money. The minimum basic salary of a Level-3 employee is Rs 18000. Suppose DA increases to 50%, then the employee will get Rs 9000 as allowance. If we add this amount of 9000 rupees to the basic salary, then the basic salary of the employee will be 27000 rupees. And from here the dearness allowance will be zero.

When does dearness allowance become zero?

When the new pay scale is implemented, the DA received by the employees is added to the Basic Salary. According to experts, according to the rules, the DA received by the employees was added to 100% basic salary. In the year 2016, the government changed the rules. When the sixth pay scale came in the year 2006, at that time 187 percent DA was being received till December in the fifth pay scale.

The entire DA was merged with the basic pay. Hence the coefficient of 6th pay scale was 1.87. Then new pay band and new grade pay were also made. But, it took three years to deliver it. This was also done in the 7th Pay Commission. Now the recommendations of the 8th Pay Commission are to come in 2024, then it is expected to happen once again.

What happened in 5th and 6th pay commission?

At the time of the Sixth Pay Commission in the year 2006, the new pay scale was implemented from January 1, 2006, but its notification was issued on March 24, 2009. Due to this delay, DA Arrear of 39 to 42 months was paid to the government in 3 installments in 3 financial years 2008-09, 2009-10 and 2010-11. A new pay scale was also created. In the fifth pay scale of 8000-13500, 186 percent DA on 8000 was Rs 14500. Therefore, on adding both, the total salary was 22 thousand 880.

In the sixth pay scale, its equivalent pay scale was fixed at 15600 -39100 plus 5400 grade pay. In the sixth pay scale, this salary was 15600-5400 plus 21000 and on adding 16 percent DA 2226 on January 1, 2009, the total salary was fixed at Rs 23 thousand 226. The recommendations of the Fourth Pay Commission were implemented in 1986, the fifth in 1996, and the sixth in 2006. The recommendations of the Seventh Commission came into force in January 2016.

How much does the salary increase when DA is zero?

Automatic revision will happen in HRA

The next revision in House Rent Allowance will also happen when Dearness Allowance will cross 50 per cent. There is to be an increase of 3% in this. At present, the maximum rate is 27 per cent, which will be increased to 30 per cent. According to the government memorandum, HRA will be 30%, 20% and 10% when DA crosses 50%. The category of House Rent Allowance (HRA) is divided into X, Y and Z class categories. It has a list of cities. The central employees who fall in the X category have 27 per cent HRA, 18 per cent for Y class and 9 per cent for Z class HRA at present. There has to be a revision of 3-3% in this.

The post 7th pay commission: Basic salary of central employees will increase, instead of 18000 it will be 27000 rupees! first appeared on Rightsofemployees.com.

Is. Now the invested money can be withdrawn by just filling a withdrawal form. For this investors will not have to fill separate annuity form.

As per the circular issued on September 13, 2022, the NPS subscriber will not be required to fill a separate annuity proposal form for NPS withdrawal. This form can be filled online. All the information related to the plan and withdrawal will have to be filled in the NPS withdrawal form. Missing any kind of information can stop your NPS money.

What is the process for withdrawal now? Till now online and offline forms are submitted to the nodal office for withdrawal under NPS. At the same time, along with an amount in this form, detailed information has to be given about it. Once they decide on the plan, they have to submit the form given by the insurance companies with complete details.

According to a PFRDA circular dated November 14, 2022, with the coming together of the two financial institutions, the benefits available to the subscribers have increased manifold. At the same time, with this decision, NPS subscribers will get many benefits. Let us know what are the benefits of this.

What will be the benefits

– Now it has become easy to get annuity and it will take less time to issue it.
There will be a uniform process for lump sum payment and issuance of annuity.
After the retirement of the subscriber, the amount will be paid as retirement fund and pension every month.

Where to download

the form : According to the circular issued by PFRDA, subscribers along with KYC and all relevant documents will have to upload the exit form on the CSR system. On the other hand, NPS retired along with senior citizens will have to register on Jeevan Pramaan portal for life verification with Aadhaar enabled.

The post Pension Rules: Changes in the rules of NPS, now relief from the hassle of filling many forms first appeared on Rightsofemployees.com.

At this time, Aadhaar number is used for all the work from bank to home. So you know what update has been given by UIDAI regarding Aadhaar. UIDAI has given information by tweeting.

There will not be c

, let us tell you that nowadays Aadhaar has become an important document even for children, so you should know that now you cannot get any change done in your child’s Aadhaar number.

#MandatoryBiometricUpdate#BaalAadhaar

Please note that there won’t be any change in your child’s #Aadhaar number after updating the biometrics.

To locate Aadhaar centers near you, click – https://t.co/TM0HQAFteK pic.twitter.com/aiK5bWhcmR

— Aadhaar (@UIDAI) November 21, 2022

UIDAI tweeted

UIDAI has written in its official tweet that please note that there will be no change in your child’s Aadhaar number after updating biometrics. So you should get any kind of change done before updating the biometrics.

Check official link

If you want to see any Aadhaar center near you, then for this you can visit the official link https://bhuvan.nrsc.gov.in/aadhaar/ .

You can complain on this number, apart

from this, if you have any problem related to Aadhaar, then a number has been issued by UIDAI. UIDAI’s helpline number is 1947. From Monday to Saturday, you can talk on this number anytime from 7 in the morning to 11 in the night. On the other hand, talks can be held on Sundays from 8 am to 5 pm.

The post Aadhar Card Update: UIDAI has issued a big update, now you will not be able to make any change in the Aadhaar number! first appeared on Rightsofemployees.com.

If you have also got FD in the bank or have a plan to get fixed deposit, then big information has been given by RBI. The Reserve Bank has made a big change in the FD rules (RBI FD rules). The new rules have also become effective. So before depositing your money, take information about the new rules of RBI, so that you do not have to suffer loss in any way.

RBI has given information that after the increase in the prices of repo rates by the Reserve Bank, banks have also started increasing the interest rates of FDs. RBI has changed the rules of FD after this.

Know what is the new rule?

Let us tell you that the Reserve Bank has told that from now on if you do not claim your amount even after completion of maturity, then you will get less interest on it i.e. you will be at a loss. Explain that this interest will be equal to the interest received on the savings account.

The Reserve Bank told why the rules have changed , according to the information received from the Reserve Bank of India, if your FD has matured and no further payment is required, then the interest on it will be the same as that of the savings account. Will get or fixed interest on FD, according to which of these two is less, you will get the benefit of interest.

Let us tell you that these rules apply to all banks, these new rules will apply to deposits in all commercial banks, small finance banks, cooperative banks, local regional banks.

Understand by example, for example, if you have made an FD with a period of 5 years, which has matured today, but you do not withdraw this money today, then the interest on your FD and the interest being paid on the savings account will be different. Whichever amount is less out of the two, you will get the benefit of interest accordingly.

What were the rules now?

Let us tell you that before this, if you do not claim after the FD matures, then after that the bank used to extend your FD for the same period for which you had made the deposit, but now it will not happen. That’s why you withdraw your money immediately after maturity.

The post Bank FD Rules: Big update for crores of people getting FD, RBI changed the rules, know what will happen now? first appeared on Rightsofemployees.com.

FD Rules Changed: If you also do fixed deposits, then know that RBI has changed the big rules of FD. RBI changed the rules related to FD some time back and these new rules have also become effective. After the decision of RBI to increase the repo rate, many government and non-government banks have also started increasing the interest rates on FD. Therefore, before making FD, definitely read this news. Otherwise you may have to suffer loss.

Changed rules on maturity of FD

Actually, RBI has made a big change in the rules of Fixed Deposit (FD) that now after the completion of maturity, if you do not claim the amount, then you will get less interest on it. This interest will be equal to the interest received on the savings account. Currently, banks usually offer more than 5% interest on FDs with a longer tenure of 5 to 10 years. Whereas the interest rates on savings account are around 3 percent to 4 percent.

RBI issued this order

According to the information given by RBI, if the fixed deposit matures and the amount is not paid or claimed, then the interest rate on it as per the savings account or the rate of interest fixed on the matured FD, Whichever is less will be given. These new rules will be applicable on deposits in all commercial banks, small finance banks, cooperative banks, local regional banks.

Know what the rules say

Understand this in such a way that, suppose you have got an FD with 5 years maturity, which has matured today, but you are not withdrawing this money, then there will be two situations on this. If the interest being received on FD is less than the interest being received on the savings account of that bank, then you will continue to get the interest with FD. If the interest earned on FD is more than the interest earned on the savings account, then you will get the interest on the savings account after maturity.

What was the Old Testament?

Earlier, when your FD matured and if you did not withdraw or claim it, then the bank used to extend your FD for the same period for which you had made the FD earlier. But now it will not happen. But now if the money is not withdrawn on maturity, then FD interest will not be available on it. So it would be better if you withdraw money immediately after maturity.

The post Fixed Deposit Rules: Big News! RBI changed the big rules of FD, know otherwise there may be a big loss first appeared on Rightsofemployees.com.

By September 30, 2022, anyone could get themselves registered under this pension scheme, but from October 1, its rules have changed. Now only those people can take advantage of this scheme, who do not come in the income tax slab. People in the age group of 18 years to 40 years can register in it.

Your pension depends on contributions

Under the Atal Pension Yojana, after the age of 60 years, people are given the benefit of monthly pension ranging from Rs 1000 to Rs 5000. The amount of pension you will get depends on your contribution. If you also want to secure your old age and want to take advantage of Rs 5000 under this scheme, then know here at what age you will have to pay how much monthly contribution, so that at the age of 60 you can get Rs 5000 a month.

Bank account required for contribution

Under this scheme, you get the facility of depositing the contribution in monthly, quarterly and half-yearly terms. If you opt for monthly, you will have to deposit the age-wise contribution every month if you opt for quarterly, every three months if you opt for quarterly and every six months if you opt for half-yearly. For this, it is necessary to have a bank account because, the money of your contribution in the scheme will be deducted from your bank account and you will also get pension through the bank account. If you already have a bank account, then you can get it linked to the Atal Pension Yojana. Once you subscribe to Atal Pension Yojana, you have to contribute continuously till the age of 60 years.

At what age how much contribution for pension of 5000

If you want to get a pension of Rs 5000 every month on old age and open an account at the age of 18, then you will have to deposit Rs 210 monthly, Rs 626 quarterly and Rs 1239 half-yearly. On starting the contribution at the age of 19, Rs 228 will have to be paid monthly, Rs 679 quarterly and Rs 1346 half-yearly. At the age of 20 years Rs 248, Rs 739, Rs 1464 on monthly, quarterly and half yearly basis, at the age of 21 years Rs 269, Rs 802, Rs 1588, at 22 years Rs 292, Rs 870, Rs 1723, 23 years At the age of Rs.318, Rs.948, Rs.1877, starting from 24 years, Rs.346, Rs.1031, Rs.2042 will have to be paid on monthly, quarterly and half-yearly basis respectively.

If you start contributing under this scheme at the age of 25, then you will have to pay Rs 376 monthly, Rs 1121 quarterly and Rs 2219 on a half-yearly basis. 26 years Rs 409, Rs 1219 and Rs 2414, 27 years Rs 446, Rs 1329, Rs 2632, 28 years Rs 485, Rs 1445, Rs 2862, 29 years Rs 529, Rs 1577 , 3122 will have to be paid on monthly, quarterly and half yearly basis respectively.

On registration at the age of 30 years, Rs 577 will have to be paid for monthly contribution, Rs 1720 for quarterly and Rs 3405 for half-yearly option. Similarly, Rs 630, Rs 1878, Rs 3718 at the age of 31, Rs 689 at 32, Rs 2053, Rs 4066 at the age of 33, Rs 752 at the age of 33, Rs 2241 and Rs 4438 at the age of 34 But Rs 824 will have to be paid on monthly basis, Rs 2456 on quarterly and Rs 4863 on half yearly basis.

Rs 902, Rs 2688, Rs 5323 at the age of 35 and Rs 990, Rs 2950, ​​Rs 5843 at the age of 36, Rs 1087 at the age of 37, Rs 3239, Rs 6415, Rs 1196 at the age of 38, Rs 3564, Rs 7058 and if you register at the age of 39 years, then you will have to deposit Rs 1318 monthly, Rs 3928 quarterly and Rs 7778 annually, till your age is 60 years. In this way, after giving full contribution for 60 years, after 60, you start getting this money in the form of lifelong pension like the government.

The post Senior Citizen Best Pension Scheme: You will get 5000 rupees every month for life, know full details first appeared on Rightsofemployees.com.

If you use the credit card of State Bank of India, then there is big news for you. Now the processing fee has been increased on some credit card transactions done through credit card. According to the new update of SBI Cards, now the credit card rent payment transaction and merchant EMI transaction will attract higher processing fee. These new charges have come into effect from November 15, 2022. SBI Cards has also sent SMS regarding this to its customers.

According to the SBI Card website, “From November 15, 2022, all rent payment transactions will be charged a processing fee of Rs 99 + applicable taxes.” Also, “From November 15, 2022, all merchant EMI transactions will be charged a processing fee of Rs 199 + applicable taxes of Rs 99 + applicable taxes.” That is, if you are paying the rent with a credit card, then a processing fee of Rs 99 and GST at the rate of 18% will be levied on it.

ICICI Bank had also increased the processing fee

Last month, ICICI Bank had also increased processing by 1% on credit card rent payments. From October 22, this new fee was implemented for the bank’s credit card holders.

Apart from this, SBI Cards has issued another notice for its cardholders, according to which the reward points for shopping on Amazon are also going to be cut. 10X reward points for shopping on e-commerce sites with SimplyCLICK/SimplyCLICK Advantage SBI Card will become 5X points from January, 2023. You will continue to get 10X reward points for shopping at Apollo 24X7, BookMyShow, Cleartrip, EazyDiner, Lenskart & Netmeds.

The post SBI Card User Big Alert ! These transactions have become expensive, processing fees have increased first appeared on Rightsofemployees.com.

80,000 employees working in Indian Railways are going to get bumper gift. Actually, the salary of all these candidates is going to increase, for which new provisions will be implemented. In fact, the supervisory cadre of Indian Railways will get a chance to reach higher pay scale at par with Group A officers.

For this, the Railways implemented a new provision. Through the new provision, the salary of 80 thousand railway employees is expected to increase. The salary of all these employees was not increasing for a long time.

Announcing the new provision on Wednesday, Railway Minister Ashwini Vaishnav said that there was a stagnation in the pay scale of the supervisory cadre in Level-7 of the Railways and there was little scope for their promotion. Although, these employees may not be promoted, but there will be a big increase in their salary.

What did the Railway Minister say?

Ashwini Vaishnav said in the press conference, ‘For the last 16 years there was a demand for an increase in the pay scale of the supervisor cadre. The only way of promotion was to get selected by giving Group ‘B’ exam. Now provision has been made for 50 percent employees to go from level 7 to level 8.

He said, ‘Provision has been made for 50 percent employees in non-executive grade to reach level 9 by getting promotion from level-8 in four years.’

Who will benefit from the new provision?

This move of railways is expected to benefit 40,000 employees of supervisor category like station master, ticket checker, traffic inspector. All these people are considered as Railway ‘field level workers’. The increase in pay grade means that everyone will get an additional salary of Rs 2,500 to Rs 4,000 per month on an average.

Because of this, the budget of the Railways will increase by Rs 10,000 crore. But the Railway Minister said that this step is financially neutral. The savings made through diesel bills will be used to meet this budget

The post 7th pay commission: Good news! 80000 people will be promoted in railway, know how much salary will increase first appeared on Rightsofemployees.com.

But apart from this, many other tasks are done by banks such as home loan, education loan, business loan etc. are provided by banks only. But if you also get the FD fixed in the bank, then you get interest for it. For which you will not need to take any kind of risk and you will get money sitting at home.

If you are also familiar with all these services provided by the banks, then probably some special of you readers have also got FD done in the bank. So you have always brought a very good news for all the readers through the article. We hope that this article will definitely make you happy. So to know what is this good news, definitely stay connected with our article till the end.

As we have mentioned in the heading that the bank has increased its FD interest rate. Due to which an atmosphere of happiness has been created among all the FD holders. If you have also made FD, then your interest rate will also increase.

Let us tell you that for the senior citizens of our country,a Suryoday Small Finance Bank , Jana Small Finance Bank and Ujjivan Small Finance Bank have decided to provide interest rates up to 8%. This section is applicable to deposits of less than Rs. 2 crores. As it is in the headlines right now that as a result of the rate hike by the Reserve Bank, the interest rates on bank FDs have also increased.

FD Rates of Suryoday Small Finance Bank

• 3.25% for 7 to 14 days, 3.75% for senior citizens.
• 3.25% for 15 to 45 days, for senior citizens 3. 75%.
• 46 to 90 days 4. 25% for senior citizens 4.75%
• 91 days to 6 months 4. 25% for angels 5. 25%
• 5.25% for 6 months to 9 months, 5.75% for senior citizens
• Above 9 months but less than 1 year 5.75%, for senior citizens 6.25%
• 6.50% for 1 year to 1 year 6 months, 7.00% for senior citizens
• 7.00% for more than 2 years up to 998 days, 7.50% for senior citizens
• 999 days to 7.49% for senior citizens 7.99%
• 7.00% for 1000 days to 3 years, 6.80% for senior citizens
• Above 3 years but below 5 years 6.50%, for senior citizens 7.00%
• 6.75% for 5 years, 7.25% for senior citizens
• Above 5 years and above 10 years 6.00% for Senior Citizens 6.50%

FD rate of Jana Small Finance Bank

• 7 days to 14 days – 2.50%, for senior citizens 3.30%
• For 15 days to 60 days 3.00% for Senior Citizens 3.80%
• 3.75% for 61 days to 90 days 4.55% for senior citizens
• 4.50% for 91 days 180 days, 5.30% for senior citizens
• 5.50% for 181 days to 364 days, 6.30% for senior citizens
• 6.50% for 1 year (365 days), 7.30% for senior citizens
• 7.00% for 1 year and above 2 years, 7.80% for senior citizens
• 7.25% for 2 years and above and below 3 years, 8.05% for senior citizens
• 7.25% for 3 years and above and less than 5 years, for senior citizens 8.05% for citizens
• 7.35% for 5 years (1825 days), 8.15% for senior citizens
• 6.00% for 5 years and above 10 years, 6.80% for senior citizens

Ujjivan Small Finance Bank FD Rates

• 3.50 % for 30 days to 89 days, 4.00 % for senior citizens
• 7 days to 29 days – 2.90%, for senior citizens – 3.40%
• 4.75% for senior citizens
• 5.00% for 6 months, 5.50% for senior citizens
• 6 months and above 4.75% for less than 9 months, 5.25% for senior citizens
• 5.05% for 9 months, 5.55% for senior citizens
• 6.50% for 9 months and less than 1 year, 7.30% for senior citizens
• 6.70 % for 1 year, 7.20% for senior citizens
• 6.00 % for 12 months and 1 day to 15 months, 6.50 % for senior citizens
• 7.00% for 15 months and 1 day to 18 months, for senior citizens – 7.50%
• 18 months and 1 day to less than 24 months – 6.60%, 7.10% for senior citizens
• 7.10% for 24 months, 7.60% for senior citizens
• 6.50 % for 990 days, 7.00 % for senior citizens
• 7.20% for 991 days to 36 months, 7.70% for senior citizens
• 18 months and less than 1 day for 24 months 6.50%, for senior citizens 7.00%
• 6.25% for 36 months and 1 day to 42 months , 6.75% for senior citizens
• 7.20% for 42 months and 1 day to 60 months, 7.70% for senior citizens
• 6.00 % for 60 months and 1 day up to 120 months, 6.50 % for senior citizens

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Every day thousands of people travel through railways. At the same time, due to the huge crowd on the railway platform, people are not able to get tickets and due to the fear of missing the train, people board the train without a ticket. However, if you are traveling by train without a ticket, you may also face a penalty. But today we are going to tell you a way through which you can book Unreserved Train Ticket even by boarding the train.

UTS App

Actually, the facility of booking unreserved train tickets is provided by the Railways on the UTS app in an online way. Passengers traveling by train through the UTS application can book unreserved train tickets online even after boarding the train.

download for free

The mobile app UTS works on smartphones with Android, iOS and Windows versions and can be downloaded for free. At the same time, the payment of tickets can be done online only. Apart from unreserved tickets, platform tickets can also be booked with this facility provided by the Railways.

How to do Unreserved Train Ticket Booking

from UTS – Go to the UTS app.
– Select the option of Normal Booking.
Then enter the departure station name/code and the departure station name/code.
– Select the type of ticket, such as Passenger, Mail or Express.
– Choose the type of ticket you wish to book between paper and paperless.
– Choose a payment method from Wallet or other online payment methods.
– Pay your ticket and you will get a message regarding ticket booking.
– In the UTS Dashboard, there will be an option to ‘Show Tickets’. From that option you can see the ticket.

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However, it has to be kept in mind that you will get the benefit of the new income tax rates only when you do not take advantage of any kind of deduction and tax exemption. Taxpayers who want the benefit of deduction and tax exemption can continue in the old tax regime. Let us know what has changed in the tax rates.

No change in tax rate on such income.

Income of Rs 2.5 lakh will not be taxed. This discount was already there. No changes have been made to this. Income from Rs 2.5 lakh to Rs 5 lakh will also attract 5 per cent tax as before. People with income above Rs 5 lakh have got a big relief.

Tax rate reduced on income above Rs 5 lakh, now income of Rs 5 lakh to Rs 7.5 lakh will attract 10 per cent tax. Income from Rs 7.5 lakh to Rs 10 will now attract 15 per cent tax. Income between Rs 10 lakh and Rs 12.5 lakh will now attract 20 per cent tax. Income between Rs 12.5 lakh and Rs 15 lakh will now attract 25% tax. Those earning more than Rs 15 lakh will be taxed at 30 per cent as before.

After filing the income tax return, if you become a tax liability, then you have to pay tax to the central government. If you are filing Income Tax Return (ITR) on your own, then you should know how much tax the government charges on the annual income.

It is necessary for every person earning income from job, business or profession in India to pay income tax. The condition for this is that your income should exceed the general limit of tax exemption of Rs 2.5 lakh.

In this case, relief is available only to those people whose income is less than the basic exemption limit. Let us know about the slab set by the government for tax exemption or tax liability.

Tax exemption on investment of 1.5 lakhs, if you invest in tax saving investment options under section 80C, then through this, you can get tax exemption on investments up to Rs 1.5 lakhs.

National Pension System (NPS), Voluntary Provident Fund (VPF) and Section 80D of the Income Tax Act along with Section 24, you can save tax separately on certain expenses.

Income tax is levied on the income of an individual in a phased manner. As your earnings increase, so will the tax rate. In fact, the tax rates are decided according to the income slab. The government reviews the income tax slab rate every year in the Union Budget.

If the first slab 5%

taxable income is between Rs 2.5 lakh and Rs 5 lakh, then 5% tax will have to be paid on it. Keep in mind that the taxable income is calculated after deducting the amount of tax benefits on investments and expenses etc. made to save tax from the total income.

The second slab of income tax of 20 percent, on the same lines, you had to pay income tax at the rate of 20% on income of five to ten lakh rupees.

Third slab of 30 percent

The third income tax slab for the common taxpayer was 30%. For this, your annual taxable income should be more than Rs 10 lakh.

The post Income Tax Rules: Big News ! Government issued some instructions for tax payers, check details first appeared on Rightsofemployees.com.

In such a situation, crores of pensioners across the country have to submit their Annual Life Certificate Submission this month. It is to be noted that the elderly above the age of 80 years have got time to submit the life certificate from 1st October 2022 to 30th November 2022. Earlier, all pensioners had to personally visit the bank, treasury or post office to submit the life certificate.

Due to this, many old people had to face a lot of trouble because many people are not in a position to come to the bank due to old age and illness. In such a situation, the Department of Pension and Pensioners’ Welfare recently issued a notification saying on 20 September 2022 that now pensioners can submit their annual digital life certificate through ‘Door Step Banking’. Apart from this, he can also submit the Life Certificate to the India Post Payment Bank (Net Banking) of the post office.

These people can get the digital

life certificate submitted- According to the information given on the official website of Jeevan Pramaan, the pensioners whose pension sanctioning authority has been registered on the Jeevan Pramaan portal can easily submit their life certificate through this portal. can. If you want to check the name of your authority on Jeevan Pramaan Portal, then you can go to its official website https://jeevanpramaan.gov.in and check the complete list by clicking on the Circulars option. Those who have remarried after the death of their spouse or have started working elsewhere cannot submit their life certificate on this portal.

Process to submit Life Certificate through Doorstep Banking-

1. First of all download the Doorstep Banking App of your bank in your mobile.
2. After this choose your door step service.
3. After this, fill your pension account number.
4. After this deposit your door step service fee. Keep in mind that each bank decides this fee on its own.
5. After making the payment, a service message will come on your mobile which will contain the name of the bank employee who will take your life certificate at your home.
6. Its bank employee will come home and submit your life certificate at home.

Let us tell you that like the bank, India Post Payment Bank (IPPB) also allows its customers to submit a digital life certificate in this way. You can easily submit your Life Certificate through door step banking sitting at home. This service is available to both IPPB and Non-IPPB users. You can request for door step visit of postman for submission of Digital Life Certificate by visiting India Post Payment Bank website. For this you will have to pay a fee of Rs 70. After this the postman will come to your home and easily submit your life certificate.

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Some important information related to PPF account

The first condition for opening a PPF account is to be an Indian citizen. Also, it is a clear rule that no person can open multiple PPF accounts in the same name. In such a situation, if you want to open two PPF accounts in your name, then you will have to change your thoughts a bit.

Many times people ask that accounts can be opened in more than one bank with the same name, then why can’t PPF accounts be opened in the same name? So the answer to their questions is that there is a fundamental difference between a PPF account and a bank account. PPF account is opened for long-term investment purpose, whereas savings or current accounts are opened in the bank to keep your money safe.

There is no upper age limit for opening a PPF account. That’s why you can open your account in any age group. With this, single parent or parents can also open a PPF account in the name of their minor child. Also, those NRI citizens can continue their PPF account, which they have opened during their residence in the country as a normal citizen of India.

How much can be invested in PPF account?

bank market. According to Adil Shetty, CEO.com, “You can open your PPF account with Rs.100. However, it is necessary to deposit at least Rs 500 in the PPF account in a financial year. Whereas a maximum of Rs 1,50,000 can be deposited in the PPF account. You can also get benefits related to tax deduction from PPF account. But if you have deposited more than 1.5 lakh in your PPF account in a financial year, then you will not get any kind of interest on the amount deposited more than the maximum limit.

The same rule will be applicable to those PPF accounts which are opened by single parent or parents in the name of their minor child. The maximum investment limit for these accounts is also fixed at Rs 1.5 lakh. That is, parents should not invest more than 1.5 lakh in their child’s PPF account.

Documents required to open PPF account

While filling the required form for opening PPF account, you should have self attested photo copy of Aadhar card, Voter ID card, passport size photographs and PAN card. Whereas, for opening a PPF account in the name of a minor, passport size photographs of the child as well as his birth certificate and KYC information of the parents are required.

Rules for withdrawing money from PPF

The rules for withdrawing money from PPF account have been kept a bit strict by the government. So that the investor should be more careful while withdrawing money, although the investor has been given the right to withdraw money as per the requirements by the government. That is, the government has given the investor the right that the investor can withdraw money up to the limit fixed on the basis of different circumstances.

Important information for PPF account holders

There is no doubt in the fact that PPF gives returns with utmost safety, tax benefits and guarantee, but the account holder should always remember that investment in PPF account is made for the long term. However, the interest rate payable on the amount invested in PPF can be changed by the Central Government.

PPF is a safe investment option for long term and is suitable for those who want attractive tax benefits and returns like EPF which is available only to salaried individuals.

The post Public Provident Fund: What are the rules for withdrawing money from PPF account? Complete details on eligibility, documents and tax benefits first appeared on Rightsofemployees.com.