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Although many subscribers of the Employees' Provident Fund Organisation (EPFO) are not aware of this but they could be eligible for pension at the time of retirement but for that you need to get a Scheme Certificate at the right time. Under the Employees' Pension Scheme, there are around 3.3 lakh pensioners. Your employer contributes 8.33% of your basic salary and dearness allowance (DA) to employees' pension scheme (EPS), as part of EPFO contribution. There is, however, a maximum cap of  ₹ 1,250. The amount of pension you receive is calculated by multiplying pensionable salary (average of last 60 months) with pensionable service and the dividing it by 70. The minimum pension that you get under the scheme is  ₹ 1,000. You are eligible for pension on superannuation at the age of 58 years. If you quit your job between 50 and 57 years you can avail an early but reduced pension. If you continue to work and contribute to EPF even after 58 years, you can avail pension...

You can now generate a UAN on your own without going to your employer.... Yes you heard it right.... But, only Aadhaar card holders with a registered mobile number are allowed to use this facility. Giving more independence to account holders, the Employees' Provident Fund Organisation (EPFO) has now launched a new facility which allows you to generate your universal account number (UAN) online on your own. Earlier, the only option for an EPF account holder was to contact his or her employer who would generate the UAN after getting the relevant forms signed by the employee. The employer would have to submit the forms to EPFO and generate the UAN which was then shared to the employee. In most cases, the UAN is mentioned on salary slips. If not, you had the option of finding your UAN from the EPFO website. But now you can generate your own UAN without the intervention of your employer. Remember that you can not have more than one UAN as the number will remain the same t...

One of the best investment option for regular growth and high return with moderate risk is mutual fund's Mutual funds offer a wide variety of investment choices. You can choose them basis your risk appetite, financial goals and time horizon. Here’s how - Funds based on maturity period Open ended funds Open ended funds allow investors to subscribe or redeem units as per the prevailing Net Asset Value (NAV) on a continuous basis. Basically, what you get with open ended funds is liquidity and flexibility of time. Close ended funds Listed on the stock exchange, these funds come with a fixed maturity date, like 3-6 years. Investors can opt to subscribe to close ended funds at the time of initial launch. Interval Funds These funds are a hybrid of open and close ended funds. While they operate mainly as close ended funds, these funds may trade on stock exchanges and are open for sale or redemption at predetermined intervals at the prevailing NAV. Funds based...

Best education system in the world!!!!!! Finland has the answer for it..... Following are some of the factors which makes Finland the best in the world:-  Accountability for teachers (not required) A lot of the blame goes to the teachers and rightfully so sometimes. But in Finland, the bar is set so high for teachers, that there is often no reason to have a rigorous “grading" system for teachers. Pasi Sahlberg, director of the Finnish Ministry of Education and writer of Finnish Lessons: What Can the World Learn from Educational Change in Finland? Said that following about teachers' accountability: "There's no word for accountability in Finnish… Accountability is something that is left when responsibility has been subtracted." All teachers are required to have a master's degree before entering the profession. Teaching programs are the most rigorous and selective professional schools in the entire country. If a teacher isn't perfor...

The EPFO (Employees' Provident Fund Organisation) has some rules that may help a person get compounding benefit on one's Provident Fund (PF) interest as well as pension benefits. However, to avail such benefits, subscribers need to continue their PF account without any withdrawal. According to the EPFO rules for pension available on at epfindia.gov.in — the official website of the EPFO — if someone doesn't withdraw from one's PF account till retirement then he or she can get pension benefits and interest on the interest that further lead to compounding benefits on PF interest. Speaking on the EPFO rules that help an EPF subscriber get more returns and benefits, Kartik Jhaveri, Director — Wealth Manager at Transcend Consultants said, "It has been found that people generally withdraw their PF after switching jobs. By doing this they not only withdraw money from their PF account, but they have also denied the compounding benefits on the PF interest getting credited in...

Here's a warning for debit and credit card users in India. Data of 1.3 million credit/debit card users is up for sale on a dark-net website called Joker's Stash. The Reserve Bank of India (RBI) too has taken notice of the theft and has reportedly sent advisory to banks across the country. Here's all you need to know about this and why you may need to go for a new card: The hack has been discovered by Group-IB, a Singapore-based company that specialises in detection and prevention of cyberattacks. Of the 1.3 million cards whose data is available for sale, 98% are believed to be from India. Group-IB has not shared the names of the banks whose credit/debit cards have been compromised. 5.5 lakh cards analyzed are said to be of a single Indian bank Though Group-IB did not reveal the source of the breach, hackers most likely acquired the card details through skimming devices, which were secretly planted on ATMs or PoS systems. In a letter s...