retirement benefits

Unified Pension Scheme (UPS): How it might stand out to be more beneficial than other schemes at retirement

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Unified Pension Scheme (UPS): How it might stand out to be more beneficial than other schemes at retirement

The newest pension scheme for the government employees — Unified Pension Scheme’s primary objective is to consolidate various pension systems existing in the country into a unified framework. The initiative serves as a clear demonstration of PM Narendra Modi’s steadfast dedication to driving reform efforts that promote sustainable fiscal practices and safeguard the welfare of … Read more

UPS vs NPS vs OPS: Here are the key differences between the different pension schemes 

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UPS vs NPS vs OPS: Here are the key differences between the different pension schemes 

Unified Pension System: The Narendra Modi-led government has approved a new pension scheme, the Unified Pension Scheme, which will come into effect in the next fiscal year, i.e. FY2025-26. After facing much criticism for removing the Old Pension Scheme, the NDA government has introduced the Unified Pension Scheme, which amalgamates the advantages of the previous … Read more

Income tax returns 2024: How retirement, employee provident fund benefits are taxed

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Income tax returns 2024: How retirement, employee provident fund benefits are taxed

Income tax returns 2024: Filing annual income tax returns are must for all Indian citizens. Employees while retiring have to pay taxes on pension, gratuity and employee provident fund.  In India, employers provide various retirement benefits to employees. The most common retirement benefits offered by employers in India include pension, the Employee Provident Fund (EPF) … Read more

CAG suggested the govt to put in place a foolproof system to ensure registration under NPS

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CAG suggested the govt to put in place a foolproof system to ensure registration under NPS

The Comptroller Auditor General (CAG) has suggested the government to put in place a foolproof system to ensure all nodal offices and eligible employees are registered under the National Pension System (NPS). “There was no assurance that all nodal offices and 100% of eligible employees were covered under NPS, even after 15 years of implementation,” … Read more