75% of EPF can be withdrawn just after a month of unemployment
EPF is a long term retirement saving scheme. Therefore, it can be withdrawn fully(100%) only after retirement. And early retirement is not considered until the person reaches 55 years of age. However, if you get unemployed for a period of not less than 2 months, then as per old rule of section 69(2) of EPF […]
How Rs 3,700 crore online fraud happened with with 7 lacs investors !
A new online fraud worth Rs 3,700 crores has been busted recently by Uttar Pradesh special task force. Around 7 lacs people have been cheated in the name of ‘Earn Rs 5 per click’ investment scheme. This was a classic example of a very smart online fraud structure where you first make a lump sum […]
EPF interest rate reduced to 8.65% from old 8.8%
The EPFO department (Employees Provident Fund Organisation) reduced the EPF interest rate to 8.65% today. The old interest rate was 8.8%. This interest will be applicable for the deposits made for financial year 2016-2017. Which means that all the deposits which were made after 1st Apr, 2016 by the employers will be earning the interest […]
Rs 500/1000 notes banned – Here are 5 critical facts to know
Last night, it was a historic moment when our Prime Minister informed the whole nation that Rs 500 and Rs 1000 notes will not be eligible currency notes from midnight at the end of 8th Nov, 2016. Here is the RBI notification PM Modi had also explained all the points very well in his speech […]
Inactive EPF accounts to get interest from now onwards at 8.8%
Good news, the inactive EPF accounts will now start getting interest. Also the interest will be paid since Mar month of this year. This will start once the govt issues the notification regarding this. Since 2011, the EPF accounts which were not active for 3 yrs before inoperative EPF accounts and they stopped getting the […]
6.5 million debit cards compromised in India – Was your card one of them?
Around 6.5 million Indian debt cards have been compromised recently which is one of the biggest security breach our country has seen till date. Around 641 customers of 19 different banks have reported frauds worth Rs 1.3 crores in total as of now and after that all banks started investigating the matter. Some of banks […]
CIBIL to provide 1 free credit report a year – Says RBI Governor
CIBIL will soon be providing 1 free credit report a year to every person starting Jan 1, 2017 as per RBI directions . This was said by RBI governor Raghuram rajan at a seminar on ‘Transforming Rural India through Financial Inclusion’. This is great news for investors because right now one has to pay Rs […]
Closing your PPF after 5 yrs is possible now [NEW RULES]
Recently the PPF closure rules got changed and now a PPF account can be closed prematurely after 5 yrs itself, but only in some conditions which we will see in this article. Till now, as per the old rules, the PPF account had a lock in period of 15 yrs, and in no case it […]
Inactive EPF accounts will get interest from Apr 1, 2016
Good news, the inactive EPF accounts will now get interest from next month, i.e. Apr 1, 2016. Around 5 yrs back, under UPA rule, EPFO came up with the rule that any inoperative EPF account will stop getting interest after 3 yrs of inactivity. So if a person left the job and never withdrew the […]
PPF interest rate reduced from 8.7% to 8.1% effective April
The government has cut the interest rate on Public Provident Fund from 8.7%to 8.1% effective April. This was part of the interest rate cuts in the small saving schemes and apart from PPF, other very famous instruments like Kisan Vikas Patra, Senior Citizen Scheme & NSC interest rates have also come down by a good […]