Provident Financial News

Big changes in EPFO and EPS rules! Good news for frequent job switchers as the Centre has amended EPS rules regarding the withdrawal of money. Under the earlier rules, those with less than 6 months of service were not allowed to withdraw money contributed towards the Employees’ Pension Scheme. But now, even if you have less than 6 months of contributions made to EPS, you can withdraw your money.

The home loan market is rapidly evolving in India, presenting a range of products to cater to the diverse requirements of potential homeowners. Step-up home loans and top-up home loans are among the favoured options available. It is, however, imperative to comprehend the differences between the two in order to make a well-informed decision.

Interest rates on post office small savings schemes like Public Provident Fund (PPF), Kisan Vikas Patra (KVP), National Savings Certificate (NSC), Sukanya Samriddhi Yojana (SSY), Senior Citizen Savings Scheme (SCSS), Post Office Time Deposits (POTD), Mahila Samman Savings Certificate, and Post Office Monthly Income Scheme (POMIS) have remained unchanged for the July-September quarter 2024.

special assistance schemes of the Maharashtra government will be deposited in the bank accounts of beneficiaries on the 5th of every month, Deputy Chief Minister Ajit Pawar said on Saturday. These include the Shravanbal Seva State Pension Scheme, Sanjay Gandhi Niradhar Grant Scheme, and those for the differently-abled, among others.

Ola Electric is working on building solid-state batteries, the chief executive officer of the SoftBank Group-backed electric scooter maker said on Saturday.

Preparations are heating up for the Paris Olympics and some countries, including Canada, are making sure their athletes remain cool during the two-week-long summer sporting event.

Modern business strategies often embrace simplicity through gamification. Testament to this is Bitcoin Aligo, a crypto project that could make decentralized finance more appealing to everyone.

How many people actually know about the NSS?: While everyone knows about the Census, the NSS seems to be largely mentioned only in circles of statisticians and researchers, and we hear of it when reports are released or when the veracity of public data-sets is questioned. More than the data itself, let me draw attention to the NSS region framework that rarely gets discussed.

Union Commerce and Industry Minister Piyush Goyal, expressing concerns over the extension of the Interest Equalisation Scheme (IES) for only two months and exclusively for MSMEs. Federation of Indian Export Organisations (FIEO) president Ashwani Kumar highlighted that the scheme has so far benefitted not only MSMEs but also merchant exporters and large manufacturing companies at a lower rate of two per cent for 410 tariff lines, covering labour-intensive products. The current scheme, valid till June, provides pre and post-shipment rupee export credit, offers a two per cent interest equalisation rate for manufacturers and merchant exporters dealing with specified 410 export items, and a higher rate of three per cent for MSME manufacturers exporting under any of these items.

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Public Provident Fund (PPF) is one of the most popular savings vehicles. Individuals can only keep one PPF account, except an account created on behalf of a minor. Investment in PPF is risk-free since the government backs it, the interest rates are favourable, and many tax breaks allow you to save on income taxes. PPF, Senior Citizen Savings Scheme, Sukanya Samriddhi, NSC, other small savings schemes' rates announced for July-September 2024 quarter

BJP's extended state executive meeting to discuss strategy for the Haryana assembly elections due later this year began in Panchkula on Saturday. Union Education Minister Dharmendra Pradhan, the BJP's election in-charge for Haryana, co-in-charge Biplab Kumar Deb, Chief Minister Nayab Singh Saini, his predecessor and Union minister Manohar Lal Khattar and senior leader Saudan Singh were present during the session at the Tau Devi Lal Stadium. Union Home Minister Amit Shah will chair the meeting during the afternoon session, a BJP leader said. Besides preparing the outline for the elections, Shah will infuse fresh zeal and enthusiasm in the party workers, the leader added.

TRAI) has announced amendments to the Mobile Number Portability (MNP) regulations. Effective July 1, 2024, the new rules mandate a seven-day waiting period for issuing Unique Porting Codes (UPCs).

Indian Railways achieved another milestone on Friday with the successful trial run of High-Speed CRS on the famed Chenab Bridge, the world’s highest railway bridge, in Jammu and Kashmir. This trial run marks a significant step towards commencing rail operations on the Reasi-Baramulla route in Kashmir. Earlier, after conducting its first trial run this week, the Ministry of Railways had said: «After an extensive inspection of the newly constructed Chenab Bridge by senior officers from Railway Board, Northern Railway, and Konkan Railway, a trial run was conducted on a 46-km-long electrified line section between Sangaldan in Ramban district and Reasi at a speed of 40 kmph.» The trial, starting at 12.35 pm from Sangaldan and reaching Reasi at 2.05 pm, covered nine tunnels spanning 40.787 km, including the longest tunnel T-44 stretching 11.13 km. This marks the inaugural full train crossing on the iconic bridge between Dugga and Bakkal stations over the Chenab river, the highest arch railway bridge globally, the ministry said.

Despite being able to work with AI more fluently than others, as per a LinkedIn study, the developing mindset of the freshers is now becoming a pain point for GCCs, all of whom are trying to find ways to temper expectations and help them understand the end-to-end needs of the engineering and software assembly lines. «My biggest struggle with this generation is that they talk only about AI and ML. Just out of college, they do not understand that in a sector like banking, AI cannot be deployed just like that, that banks are bound by lots of regulations,» Srikanth Gopalakrishnan, CIO for people and head of the India technology centre, Deutsche Bank Group, said to ToI.

NASA has released an extraordinary 3D visualization of the 'Pillars of Creation,' located in the Eagle Nebula. This video combines images from the Hubble and James Webb Space Telescopes, providing viewers with a breathtaking experience of these iconic cosmic structures. The 'Pillars of Creation' in the Eagle Nebula have captivated humanity for decades, thanks to NASA's pioneering work with the Hubble Space Telescope, which first captured their ethereal beauty in the 1990s.

WeWork India, one of the flexible workspace providers in the country, has appointed Janak Malkani as the head of managed office for India. Additionally, he will also lead sales for the West region. This appointment marks another step towards strengthening the company's leadership and propelling its growth journey His deep understanding of the market, coupled with his strategic vision and extensive experience, will be instrumental in driving WeWork India's Managed Office offerings to newer heights.

As Canadians get ready for some fun in the sun over the July long weekend, several lots of sunscreen are being recalled across the country.

Securities and Exchange Board of India (Sebi) board held a meeting on June 27, Thursday and approved some major policy shifts including the exit and entry criteria for stocks in derivatives segment and tightening rules around finfluencers. ETMarkets has summarised key announcements made by the market regulator. Here are top 10 Sebi announcements: