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Daily Archives: August 25, 2021

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Family Pension of Bank Pensioners enhanced to 30% without ceiling

Bank StaffBy Surendra NaikAugust 25, 2021

Finance Minister Nirmala Sitharaman today announced that the Government has cleared the enhancement of Bank family pension to 30 percent without a ceiling. Further, Bank’s contribution to the Pension fund under NPS was enhanced from 10 to 14%. The improvements in family pension to 30 percent of last drawn pay without any ceiling cleared by…

Foreign exchange remittance limit for entities other than individuals

Foreign ExchangeBy Surendra NaikAugust 25, 2021

Entiites other than individuals can remit funds outside India for the following purposes which are stipulated under Para 1 of Schedule III to FEM (CAT) Amendment Rules, 2015. They may donate up to one percent of its foreign exchange   earnings during the previous three financial years or USD 5,000,000, whichever is less. Such donations shall…

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