The Ministry of Labour and Employment on Sunday announced additional benefits for workers through social securities schemes run by the EPFO and the ESIC amid the COVID-19 pandemic. “The Ministry of Labour and Employment has announced additional benefits for workers through ESIC and EPFO schemes to address the fear and anxiety of workers about well…
In terms of GoI notification F.No.4(5)-B(W&M)/2021 and RBI press release dated May 12, 2021, the Sovereign Gold Bond Scheme 2021-22 – Series III will be open for subscription for the period from May 31, 2021 to June 04, 2021. The nominal issue price per gram of gold for off-line subscriber is Rs.4889 (Rupees Four thousand…
The RBI, in a statement yesterday, said the redemption price for the early redemption of SGB tranche-1 due on May 30 shall be ₹4,837 per unit of SGB and payable on May 29 (May 30, 2021, is Sunday). This translates into an appreciation of about 80 percent over the issue price of ₹2,684 per unit…
RBI announces issue of the second tranche of the Sovereign Gold Bonds (SGBs) scheme 2021-22. The subscription opens for public from May 24, 2021, and will close on May 28, 2021. Issue price per gram of gold is Rs 4,792 for those investors applying online and the payment against the application is made through digital…
The resident Indians (individuals, HUFs, Trusts, Universities, Charitable institutions, etc.,) as defined under FEMA Act 1999 are eligible to invest both in a single name or joint names. In the case of joint names, the buying limit applies to the first applicant. The bonds can also be purchased in the minor’s name. These Bonds are…
The Employees’ Deposit Linked Insurance Scheme (EDLI) is an insurance cover provided by the Employees’ Provident Fund Organization (EPFO). The government of India has introduced the Employees Deposit Linked Insurance Scheme (EDLI) in 1976 to help the employees particularly keeping in mind the private-sector employees who may not enjoy any social security benefits as normally…
(Evaluation of 10 widely preferred tax-saving instruments eligible for tax deductuion under old tax regime- section 80C ) Updated and reposted on 04.05.2021 The ultimate idea of buying any tax-saving instrument is not just to reduce the tax liability for the year; we must get back good returns on the investments made by us. There…
The Ministry of communication, Government of India has made certain amendments to make the process of claiming money from the small savings schemes such as Public Provident Fund (PPF), National Savings Certificate (NSC), Post Office Monthly Income Scheme (PO-MIS), etc. The process of claiming money has been streamlined by the department via a circular dated…
In the event of death of the subscriber, the amount standing to his credit can be repaid to his nominee or legal heir, as the case may be, even before the expiry of 15 years. Amount in a PPF account will continue to earn interests as per the terms even after death of the subscriber…
The following post elucidates the claim procedure of NSCs where Nomination is registered or in the event of death of nominee of the deceased certificate holder, or when there is no nomination, interest payment clauses, and continuation of the certificate holder. There are 3 types of saving certificates issued by the Postal Department. (1) A…