Personal Finance

The EPFO wage ceiling has been raised to Rs 25,000 from Rs 15,000, increasing monthly PF contributions and potentially boosting retirement savings through compounding.

Credit card balances do not work in quite the same way as conventional loans, where interest is generally linked to the amount that remains outstanding.

An SIP calculator can offer a useful snapshot of how regular investing and the power of compounding may build wealth over the years.

NRIs can transfer eligible funds from an NRO account to an NRE account, but the facility is subject to a USD 1 million annual limit, applicable taxes and documentation.

Employees whose mandatory contribution was previously restricted to Rs 1,800 could see another Rs 1,200 deducted from their pay each month.

With a hypothetical 12% annual return, Rs 10 lakh invested at 30 could grow to about Rs 3 crore by 60, compared with Rs 96.46 lakh at 40.

Senior citizens can earn up to 8.5% interest on fixed deposits in September, with ESAF and Suryoday offering the highest rates on specific tenures

The Federal Reserve raised its benchmark policy rate by 25 basis points to 3.75%-4%, while the NSE IPO saw its subscription gather pace on Day 2.

A Rs 10,000 monthly SIP with a 10% annual step-up can grow to around Rs 11.71 crore over 32 years at an assumed 12% annual return.

A monthly minimum basic pension of Rs 9,000 could increase to Rs 34,470 with a 3.83 fitment factor, while a 4.0 multiplier would take it to Rs 36,000.

For those leaving employment or moving to a new job, knowing when and how to use Form 10C can be important for accessing pension-related benefits or obtaining a scheme certificate.

The decision is expected to bring more than 51 lakh additional employees within the ambit of mandatory EPFO coverage, significantly expanding access to provident fund savings and pension protection under the Employees’ Pension Scheme (EPS).