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A Systematic Investment Plan (SIP) is an investment strategy that provides you with the opportunity to invest a fixed amount of money at regular intervals in a mutual fund or scheme of your choice. It is not a fund, but a mode to invest in equity-related funds or other schemes. Let’s see how much time…
Gratuity is a payment made by an employer to an employee as a token of appreciation for his/her long service within the same organisation for at least a period of 5 years. Significantly, any service duration of 6 months and above is considered to be a full year. Organisations with 10 or more workers need…
The monthly pension for an employee is determined by their service period, which is taken up to the next year if their service period is six months or more. For instance, a service period of 10 years 7 months would be taken as 11 years. Taking an employee drawing a basic salary of Rs 68,000…
A Systematic Investment Plan (SIP) is a simple and smart way to invest in Mutual Funds. Instead of investing a large amount at once, you can invest small amounts regularly, like daily, weekly, or monthly. It works like a recurring investment, where the amount is automatically debited from your bank account and invested in the…
Gratuity Calculation: The number of years and the last-drawn basic salary of an employee are used to calculate the gratuity amount. To your surprise, any service period of 6 months or more is rounded up to a full year. As per the Payment of Gratuity Act, 1972, organisations with 10 or more employees are mandated…
A systematic investment plan (SIP) is a vehicle that allows you to invest a fixed amount in mutual funds of your choice on a regular basis. You can set up a SIP with a mutual fund company simply by instructing them to deduct a specified amount from your bank account at regular intervals, such as…
NPS vs EPF vs PPF: Sometimes we miss the investment opportunity and years later realise the mistake. The opportunity missed can be because of a lack of knowledge, a shortage of finances, or responsibilities to meet. When we realise the delay, we may feel discouraged, thinking there is no point in starting late. Likewise, if…
The Employee Pension Scheme (EPS) is a retirement plan managed by the EPFO that provides a monthly pension to employees after they turn 58. You can also opt for an early pension at the age of 50. Under this scheme, both employees and employers contribute to the Employees’ Provident Fund (EPF), with a portion of…
A monthly SIP of Rs 13,000 can help you create a retirement corpus of Rs 9 crore—no windfalls, no lottery tickets, just consistent investing and the magic of compounding. This strategy shows how small, regular investments can grow into massive wealth when given enough time and discipline. Can Rs 13,000 a Month Make You a…
The Public Provident Fund (PPF) is a government-backed investment scheme, making it a secure option for investors. With returns assured by the Government of India, PPF provides a reliable investment avenue. Note that a PPF account can be held in the name of only one individual. Plus, PPF enjoys Exempt-Exempt-Exempt (EEE) tax status. This means…