Gratuity is the amount paid to employees in recognition of their continuous service, honouring their hard work and contributions. Gratuity is one component that the government has placed on par with pension and provident fund (PF). The Gratuity Act applies to factories, mines, oil fields, plantations, ports, railways, motor transport undertakings, companies, and shops or
In the Pre-Budget Memorandum 2025, the Institute of Chartered Accountants of India (ICAI) has suggested introducing a provision allowing joint income tax return filing for married couples. This proposal seeks to address the increasing economic pressures families face. Currently, individuals can either opt for the default tax regime under Section 115BAC or choose the normal
For many individuals seeking to buy a home, navigating the challenges of securing a loan in the face of high property prices can be difficult. Joint housing loans often offer a practical solution. Many dual-income households are opting for joint home loans to help make their dream of homeownership a reality. A joint home loan
The Reserve Bank of India has announced new rules for credit bureaus and lenders aiming to enhance consumer protection and improve the overall credit reporting process. Let’s look into the key facets of the new rules that will positively impact consumers. Fortnightly reporting One of the most notable changes is the implementation of standardised reporting
Systematic lumpsum withdrawal plan (SLWP) in National Pension System (NPS) enables an investor to withdraw a fixed amount and let the corpus stay invested in market-linked instruments. This allows for compounding to earn higher returns and reduces the risk of reinvestment with single lumpsum withdrawal. By withdrawing in tranches, an investor reduces the risk of
The Employees’ Pension Scheme (EPS), run by the Employees’ Provident Fund Organisation (EPFO), is one of India’s largest social security programmes. Under this scheme, employees receive a monthly pension based on their service period and salary. Launched on November 16, 1995, the EPS is designed to provide regular income to organised sector employees after retirement.
The Reserve Bank of India (RBI) has come out with a circular on FAQs clarifying doubts regarding resetting of floating interest rates on personal loans with equated monthly installments (EMIs). The FAQs, issued on January 10, will improve transparency, give borrowers more control, and bring more clarity to how lending institutions operate. It is important
Senior citizen tax benefits: Each year during the Budget, taxpayers eagerly await the government’s announcements on tax relief, particularly for senior citizens. With limited sources of income, senior citizens often rely on pensions, which act as a crucial financial safety net for them. Experts believe that Finance Minister Nirmala Sitharaman may finally adjust the tax
Arvind Fashions, the Rs 4,300-crore branded apparel arm of the Arvind group, is looking to scale up its largest brand US Polo in the next few years. In a conversation with FE, Kulin Lalbhai, vice-chairman and executive director, Arvind said that the company was eying a topline of Rs 3,000 crore for US Polo in
Retail sales has been growing between 2-7% over the last ten months of FY25 for most organised retailers, data from business surveys conducted by the Retailers Association of India (RAI), an apex body of retailers, shows. Yet, there is hope that the domestic retail market, valued at $82 billion, according to the Boston Consulting Group
The Tech Entrepreneurs Association of Mumbai (TEAM), which represents startups and tech companies from the city, is having discussions with legacy companies to work out partnerships and collaborations, governing council member Naiyya Saggi said. She added that some of these partnerships have become incubators for the startups involved. “These meetings usually involve some consultation sessions
Tata Projects, which is among the top three engineering, procurement and construction (EPC) firms with a 12-15% market share, is positioning itself for better liquidity cycles and long-term growth. Vinayak Pai, MD & CEO, shares with Geeta Nair insights on the company’s future, major projects and industry trends. Excerpts: ALSO READIkea’s expansion plans to be
In the past three years, Madhabi Puri Buch had one of the toughest jobs as a regulator — keeping retail investors as safe as possible in a roaring bull market. The Securities Exchange Board of India’s (SEBI) first woman chairperson – and the first to come from the private sector – who completes her three
