👉🏼 KP Sivaraman, a retired employee of a tyre manufacturing company, made multiple visits over the last nine years to the Kochi office of the Employees’ Provident Fund Organisation (EPFO) to get his final PF dues. Earlier this month, he died by suicide after consuming poison inside the EPF office. The PF amount due to him had been rejected because of a mismatch in the identification details in his PF records and his official documents. 
  
 -- From the same article

Investment Manager

This is real. I have seen this happening to my clients too.

Software Engineer

https://indianexpress.com/article/india/rejectionoffinalepfclaimsseessurgein5yrsupfrom13to349177874/lite/   We want to see towards growth and only growth but growth in every aspect is not a good si...

Welcome to News Discussion's Private Community

https://indianexpress.com/article/india/rejection-of-final-epf-claims-sees-surge-in-5-yrs-up-from-13-to-34-9177874/lite/


We want to see towards growth and only growth but growth in every aspect is not a good sign. Govt should look at tax payers and make their life easier otherwise everyone will become farmers.

Rejection of final EPF claims sees surge in 5 years, up from 13% to 34%

Rejection of final EPF claims sees surge in 5 years, up from 13% to 34%- Grapevine

Welcome to Personal Finance's Private Community

Any comments PF holders?

Bonus - In your 1st job u can skip pf and opt for ELSS and get 1.5 lac benefits under 80c in old tax regime

Peanuts 🥜 for Middle Class

Senior Consultant

I personally see it as game changer in how invest in FDs.

Any comments or thoughts or guidance would be highly appreciated.

Is Stable money a stable choice ?

Welcome to Office Gossip's Private Community

Hey everyone, 

Thought of creating a daily post where we all can hang around and talk just about anything - without having a specific topic to discuss. 
Think of this like the Watercooler at your office. 

Look forward to hearing from y'all :)

Daily Watercooler (13th June)

Founder

Inspite of so many "better than earlier govts" reforms in the last 10 years...the govt hasnt done much needed reforms in the income tax regime.

The govt is doing a few good things like dissolving inept psu's, selling off entities like Air India (privatisation), etc.
But when and how  are we going to increase the tax base?? Why is govt failing to do so? It is high time we rationalise it. We cannot dream of becoming a prosperous country with such poor policies in place

https://timesofindia.indiatimes.com/pay-income-tax-be-political-orphans-why-it-matters-for-indias-economy/articleshow/107405605.cms

Inept income tax dept

Product Manager

We have done it.
We contribute more to the country in taxes than corporates.

Let’s celebrate this historic and absolutely patriotic moment 
in our broken dreams, 
in our rented homes, 
in our over taxed cars, 
in our pond sized potholes, 
in our over priced healthcare,
in our price gouging education, 
in our humiliating public & pvt infra, 
in our barely present desire to live,

Pride yourself in what you have achieved and shut your mouth about any criticism you have, for that’s not what you are here for.

Congrats everyone!

Consultant

Governor of India just introduced Unified Pension Scheme for government employees. 

At times when it will become very difficult for corporate employees to survive after age of 40-45 in post AI world, this assured pension which was stopped after 2004 has been reintroduced. This will bring back the charm of government job which existed in 1970s-80s . In 70s and 80s, private jobs were synonymous with lack of job security. 

Globalization brought heavy salaries in corporate world and helped in reducing charm of govt job. 

Now, in 3-4 years, AI is going to cause huge change in corporate world thereby causing huge uncertainty. 

What do you people think?

Craze for government job will be back after unified pension scheme.

Am I the only one who feels EPF alone takes major portion of the Rs 1.5 lakhs exemption limit under Section 80C? 😵‍💫

80C Exemption

Welcome to IT Company Discussion's Private Community

If someone in India earns a CTC of 50 LPA or 1 crore+ with 10-15+ years of experience, but faces a 40% deduction (due to tax, PF, etc.), does it make sense to continue working in India or consider relocating if given an opportunity? Despite earning well, the quality of life remains poor. For example, schools cost 3-4 lakhs per annum, healthcare is paid, and living in private communities comes with hefty maintenance fees. Bad roads, metro are polluted. Heavy taxes of any purchase.

I'm considering relocation. What are your thoughts?

Time to leave India…

Software Developer

Salaried folks after reading no change in Income tax slabs in Budget 2024

Hi everyone,

The year end is here. It was a great year for my FIRE journey and I thought I'll share an update with you all.

With few days left in 2023, I've crossed 2.65 CR in net worth after touching 2 CR in May this year.

Here's the breakup:

Direct shares: 1.7 CR (this was the major driver of growth),
ELSS: 0.06 CR,
Company shares: 0.06 CR,
Real Estate: 0.4 CR (while it is between 42-45 now, keeping this unchanged from May),
EPF: 0.34 CR (interest for last year kicked in),
NPS: 0.06 CR (investing because I'm in 30% bracket, getting 14.8% xirr here),
SGB: 0.03 CR

The driver for growth has been a high saving rate.

In 2023, i've added 29.5 lakhs in equity, about 2.5 lakhs every month. 6 lakhs in company shares (US listed). The EPF and NPS savings are on top of this. My target was to save 36 lakhs in equity overall, and it's done! Targeting the same for next year. I'm aiming to cross 2 CR in equity before July 24.

Another change I did this year is that I've moved away from active advisory. I get the stock ideas from Twitter discussions, analyse them fundamentally and take bets based on the charts. I'm quite confident of my charting skills with max drawdown of 25-30% but upside of multiple x. I could capture 2-3 2x this year with sizable investment in them. I got this confidence after i could take my wife's account from 11 lakhs to 20 lakhs in about 2 years.

While the next year can be a huge bull run if BJP wins, I'm still trying to diversify. I'm planning to add a real estate of about 75 lakhs by paying 10%. This will help me leverage as well. The rental yield is the property is approx 5% and calculations show that I'll have to only pay 40-45% of the EMI and rest will be covered through rent. This should bring my equity exposure down from the current 65% to less than 50%. In this I'm trying to diversify and leverage while not denting my current equity corpus.

Suggestions welcome to make this FIRE journey better!

Thanks!

Crossed 2 CR and 2.5 CR in the same year

Project manager

Do you think we are being cheated by the government!

We are paying every form of tax available on earth 🌍

Budget

Welcome to Software Engineers's Private Community

Those who are earning more than 50lpa base how much tax do you end up paying? 😶‍🌫️

Tax on 50lpa+

I heard recently from a friend that a company offered the candidate 36lpa and there is no pf cut or anything. 36/12 = 3 lakhs would be monthly in-hand directly. It's a startup and recently got registered in India so benefits would take some time to reflect. And equity yet to be decided.

Has anyone heard of such things?  Does any company pay the whole compensation/12?

Pay divided by 12

Bro, you are earning. Shouldn't you just be grateful that you are not born in war torn Afghanistan or disease ridden Africa. I mean life could be so much worse. In fact, the only difference between you and the office boy is the household you were born in. If that office boy was born in your home, he probably would be as successful as you. 

You already won the lottery. Why not just do your part and pay the income tax so that the tax money can be used to provide a better life to those who are unprivileged.

I am not excusing the corruption in the system but just find the cribbing unbearable 

Just be greatful

Why do people keep ranting about income tax

curious to know. I remember fiscal strategy was quite different from other countries during covid. 

the government focused on infrastructure related expenses rather than direct benefit transfer.

What do you think we are doing right as a country?

Don’t you think it’s kinda not fair to tax people especially in metro cities who earn less than a lakh a month. The cost of living in these places are already so high and due to that they may not even be able to make any investments. 12 Lakh kinda sets a good entry level for taxes as 1 Lakh is a decent amount to live by I guess. 


Just looking to hear opinions on why it would not be beneficial that’s all. Not willing to hear or respond to any SJWs who want to act all high and mighty on the internet.

Rejection of final EPF claims sees surge in 5 years, up from 13% to 34%

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