Gratuity: Calculation, Formula and Tax
Gratuity is paid to employees by their employer at the time of retirement/resignation or in case of death and disability. We share the formula to calculate gratuity and how it is taxed
Retirement planning
Leave Encashment: Calculation & Taxation
All salaried have different type of leaves namely: Sick Leave, Casual Leave, Earned/Privilege leave, etc. If employees take lesser leaves than they are eligible for, most employers encash the left over leaves either annually or at the time of leaving the company. Of all types of leaves only earned or privilege leave is encashable. Leave
Voluntary Provident Fund – A Good Tax Saving Retirement Option!
Retirement planning is one of the most important financial goals in life of a person. Most of us have heard about Employee Provident Fund (EPF) and (Public Provident Fund) PPF for building retirement corpus but do you know how can you leverage Voluntary Provident Fund (VPF) to add zing to your corpus? What is Voluntary
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Senior Citizens’ Savings Scheme: Excellent Investment for Tax Saving & Regular Income
Senior Citizens’ Savings Scheme (SCSS) is one of the best fixed deposit schemes for Retired Senior Citizens as its safe (backed by Government of India), has assured quarterly payments, gives tax benefit and easy to handle. This post provides details of rules and regulations for SCSS. Who can open SCSS? As the name states, anyone
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NPS Becomes more Attractive after Budget
Budget 2019 among many things also notified following 3 changes in NPS – which would make it more attractive to investors.
NPS withdrawal becomes Tax free
NPS Tier II now under 80C (only for Central Govt employees)
Contribution increased in NPS to 14% for Government Employees