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Mayank

Mayank Rautela  | Answer  |Ask -

HR Expert - Answered on Jul 14, 2021

Mayank Rautela is the group chief human resources officer at Apollo Hospitals.
A management graduate from the Symbiosis Institute of Management Studies with a master's degree in labour laws from Pune University, Rautela has over 20 years of experience in general management, strategic human resources, global mergers and integrations and change management.... more
Vaibhav Question by Vaibhav on Jul 14, 2021Hindi
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Career

Dear Mayank,
Name: Vaibhav Jain
Age: 28
Currently unemployed.
I really need your help and guidance at this point of time as I am very confused regarding my career. 
I am a mechanical engineering graduate; I graduated in 2015. Qualified Gate 2017 but not with a good rank. Till February 2018, I prepared for government exams but unfortunately couldn't crack them.
Then I started to do a job in the ayurvedic health care sector in a relatively smaller subsidiary of a known company as a GRE and FOE.
I worked there from June 2018 to July 2020.
I did not enjoy my job and the salary was not good. Also, I was inclined to choose yoga as my career path so I participated in a short term yoga teacher training programme in 2019 and quit my job in July 2020.
In my experience letter, the company said I had made an excellent contribution towards the organisation.
After quitting my job, I completed my post-graduate diploma in yoga education from Kaivalyadhama, Lonavala, in April 2021.
After completing the course, I was excited about pursuing a career in yoga. But due to some unfortunate circumstances at home, I am not finding the time to do so. I self-practise. Circumstances have caused financial issues at my home which is forcing me to do some kind of job to balance the expenses.
One of my friends, who is working at one of the biggest e-commerce companies of the country, has asked to apply for an opening for floor executive (inventory management role) in his company.
I am interested as the salary is good, which can help me in current situation. But I don't have any idea or experience of how to go about doing an interview at such a big corporate company.
I don't have any prior experience of working in this field, therefore I'm not confident about cracking the interview. Based on what I have heard from my friends, the company gives preference to candidates with prior experience.
Please guide me for this interview process and how to prepare a resume as I am finding difficult to recognise my strengths and weaknesses and my good skills which may help to crack the interview. Guide me for my interview preparation.
Also guide me if should follow my interest of yoga as a career or find some other job to meet my financial needs.
Thanks and regards,
Vaibhav Jain

Ans:

Dear Vaibhav.

I think your key strength is that you are a qualified engineer. With that comes analytical, logical and mathematical abilities.

Also, you have prepared for competitive exams so you have that competitive spirit.

Build on these strengths and look for a career where you can use them. Almost every industry needs these skill sets.

Keep practising yoga for good health and calmness.

A full-time career in yoga is not really a financial option.

What you could do is apply for migration to Canada/Australia and then make yoga a career there.

Career

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I got Campus Placement Job offer after getting M. Tech from IITDelhi & worked for Tata Steel, Birla White, Diamond Cement, L&T etc from 1993-1998. After that I joined BITMesra to prepare students for Campus Placement from 2001-2022 with opportunity to get Senior Management Professional from IIM Calcutta but sad part was losing wife due to Covid 19 in 2021 who was under treatment for her kidney failure by costly dialysis in Fortis, Vellore, Santevita etc. Myson got Campus Placement Job offer from my Alma mater IITDelhi like her sister. I guided one of Society resident's son to opt for IITGuwahati rather than BITsPilani. What is your suggestion for me at my present status with IIT &IIM certificate but without wife? I should charge for career guidance &Industry /Govt. Consultancy.
Ans: It’s commendable that you’ve had a successful career and have guided others along the way.
Given your background with an M. Tech from IIT Delhi and the opportunity to become a Senior Management Professional from IIM Calcutta, you have valuable credentials.
Remember that your journey doesn’t end here. While the loss of your wife is undoubtedly painful, your skills and knowledge can continue to make a positive impact. Take time to heal, and when you’re ready, explore these avenues. Your guidance and expertise can benefit others, and you can find fulfillment in helping them succeed.
If you decide to charge for your services, ensure that you provide value and maintain empathy toward those seeking your guidance, here are a few suggestions for you.

Career Guidance and Online Mentoring:
Leverage your expertise and experience to offer career guidance and consultancy services. You can charge for personalized advice on career paths, interview preparation, and industry insights.
Consider creating an online platform or offering one-on-one sessions to students and professionals seeking guidance. Your IIT and IIM credentials will add credibility to your services.

Industry and Freelancer Consultancy:
With your extensive industry experience, explore opportunities in industry and government consultancy. Many organizations seek experts to provide strategic advice, process optimization, and problem-solving.
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If you’re interested in consulting, consider applying to top consulting firms. Firms like McKinsey, BCG, Bain, and AT Kearney recruit from IIMs and other premier institutes.
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Insurance, Stocks, MF, PF Expert - Answered on Oct 15, 2024

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Hi Milind I am 52 years old single woman, from small town and who has worked hard ro reach to level in corporate with good salary. I have a corpus of about 5 crores and small flat in tier 2 town. I dont enjoy yhis new job wirh reputed brand and at a senior level as i dont find ut engaging or doing justice to role. My parents are old and i worry for rhem ans want to spent rkmw with them. With this corpus can i take a call to leave job and get decent income of atleast 2-2.5 lac a month. I have been quite action oriented, but now my mind and body feel exhasuted and also fear rhat without a job i will become lazy. Also living with parents will be a joy, at the same time resteictive to eating or socializing. I am quite concious ,if i leave this well paying ,senior role job with a big renonwed corporate which many of my friends aspired for and whole lot of people congratulated me ,they will think i was not able to justify my role,hence left . I dont want that impression at last stage of career as whole life i have been seen as hard working ,passionate professional. Such rhoughts are taking toll on my mental health. Please advise what should be done
Ans: Hello;

With the corpus that you have (5 Cr) you may buy an immediate annuity from a life insurance company and can expect to receive monthly payout of 2.5 L (pre tax)from the very next month. 6% annuity rate considered, if you shop around and negotiate you may get a better rate.

You can opt for increasing annuity to account for inflation and return of purchase price to your nominee, after you.

Ensure good health insurance policy to cover yourself and your parents.

Think about some vocation which you would like to pursue passionately after retirement.

You are seeking retirement from regular 9 to 5 job not from pursuit of your passion/goals.

It could be in the role of an consultant, counselor or educator.

You should take the decision which you feel is appropriate for you irrespective of what people comment because they will comment in any case.

Learn to ignore such people.

Happy Retirement!!

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Can you please suggest on capital gains as per Indian taxation laws arising in the below two queries : 1) property purchased with joint ownership, me and my wife’s name in 2015 at a cost of 64,80,000, housing improvements done for the cost of 1000000 and brokerages of 200000 paid and sold the same property at 10000000 in Dec 2023? 2) 87% of the proceeds got from the deal i.e 8700000, have been reinvested to pay 25% amount in purchasing another joint ownership property in Dec 2023, 3) I have invested in another under construction property in Nov 2023 by taking housing loan, which is on me and my wife’s name worth 1.4 cr, here the primary applicant is me only while wife is just made a Co applicant in the builder buyer agreement and also on the housing loan . So what are the LTCG tax liabilities arising from the above 3 scenarios for FY 2023-2024 and FY 2024-2025. I intend to sale off the property acquired in (2) by Dec 2024 and use that proceeds to close the housing loan for the property acquired in (3), will this sale of property be inviting any tax liabilities if the complete proceeds received from the sale of the property in (2) would be utilised to close the housing loan taken in Nov 2023 for the property in (3) ? Since in FY 23-24, I would be claiming the LTCG from the sale proceeds of 1) invested in the purchase of property in 2), and I intend to sale off this property in Dec 2024, will the LTCG claim be forfeited on the property sale in (1), should I hold this property at least for further 1 year so that sale of this property in 2) will not invite STCG?
Ans: (A). Let's first talk about F/Y 2023-24 :
You jointly sold a Property during the year for Rs.76.80 lakhs (64.80+10.00+2.00), & sold the same for Rs.100.00 lakhs.
You have jointly also purchased Property No.3 (I suppose it is Residential only), for Rs.140.00 lakhs.
You should avail exemption u/s-54 & file your ITR accordingly. Please disclose all details about sale & purchase in your ITR.
02. Now coming to the F/Y 2024-25 :
You intend to Sell Property No.2, which was acquired in 2023-24. Any Gain on Sale of it would be Short Term capital Gains & taxed accordingly.
Alternatively, you may hold this sale of property no.2 (for 2 years from its purchase) & avoid STCG
You are free to utilize the sale proceeds in a way you like, including paying off your housing Loan.
Please note to avail exemption u/s 54 only from investment in property no.3 & not 2.
Most welcome for any further clarifications. Thanks.

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