POSTED BY October 1, 2012 1:59 pm COMMENTS (3)ON
Very recently and unexpectedly I saw your site and really happy and impressed with the way the forum creates and the discussion with practical solutions provide by your experts. I believe because of the simplest way of answering and a live-in touch makes the hope in asking questions which comes always a sword to a common person like me. The articles and the forum are very informative. It`s simply awesome tool.
About me, I was NRI for couple of years and currently been transferred to Mumbai with the same company which was recently started their operations in India. The offer letter with CTC at India which I have received are not really interesting for me compared with my previous packages due to the non tax and other benefits. I haven’t signed the contract yet and started searching for some options to save tax as well as to find out the way to save money for to achieve my financial needs and goals. Since there are still some discussions ongoing for to finalize the CTC, there might be some positive variations/changes in the package which I am still expecting.
At the moment the offer is as below,
Basic salary – INR 95K / month
HRA – INR 47.5K / month
Flexible Allowance (medical, telephone, transportation, etc) – INR 47.5K / month
As part of Indian employment Act/Rule, I am new and I need to tackle all my expenses in a very positive manner for my family better future and considering expenses not by just paying taxes.
I am looking for a real financial management here, and the below are my views/thoughts for future.
1. Own a house/flat by the year of 2017
2. To save 50 Lakh INR by year 2025 (as for retirement)
3. Term policy for self to give support to family (30 years or life time) – 1 Crore
4. Looking for some mutual fund investments or so, but no idea about those
5. Some sort of planning for my 1 year kid (career and future)
6. Health insurance policy (Myself 34, spouse 26, kid 1 year, my parents- father 65, mother 58, spouse parents- father 58, mother 50)
7. Insurance policies or other sort of savings
Due to my inexperience in the financial set up compared with you guys , it may look awkward, guess it should be but looking forward for your real expertise to tackle these with options and suggestions included with benefits.
Also looking for some great options to save tax on my income.
Looking for your specific thoughts and suggestions.
Thanks in Advance