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Mayank

Mayank Rautela  | Answer  |Ask -

HR Expert - Answered on Apr 07, 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
Dinesh Question by Dinesh on Apr 07, 2021Hindi
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Career

Dear Mayank,
My name is Dinesh Kumar, age 38.
I am working as an EHS coordinator (in the environment health and safety department) in a corporate office in Noida since the last 15 years.
But since the last three years, management has given extra work of the quality dept.
I am coordinating with approx 300 site safety and quality engineers (admin role), managing the safety store at the Noida office (safety uniform, personal protective equipment, safety promotional material, etc), managing the upkeep of documentation part of ISO 14001 and OHSAS 18001, distribution of safety uniform kit to sites approx 600 persons, MIS of safety reports, etc.
I am feeling overloaded and stressed and not interested in my job.
I am giving 100 per cent in my job but work not completed always.
Please advise me on how I can control my stress at the workplace and find a new job.
Dinesh Kumar

Ans:

Dear Dinesh,

I understand you are overloaded, like many people in the corporate world.

The first step to streamline your work is to clearly list down the tasks that you do and how much time it takes.

Then sit with your manager and explain to him the support you want from the management in terms of resources like manpower, online system, etc.

You are a valuable resource and if you can systematically explain the situation, then I am sure you will be heard and allocated resources to optimally carry out the critical tasks related to ESH of your organisation.

Many of the ESH activities are legal requirements, so the company will definitely support you.

 

Career

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Hi Anu, I am 42 yrs old male. I am a Public Health Professional and work in an International NGO on health issues based in Delhi. I have ageing parents (both suffering from cardiac illness, diabetes and hypertension) which are based in Mumbai, my immediate family (wife and two kids) stays with my parents as there is no one else to take care of them. My parents especially my father is adamant that he doesn’t want to leave his house and stay with me in Delhi. As a result my immediate family is also forced to stay in Mumbai taking care of my parents. My wife is very supportive, however as this situation is like this since last 4-5 years and we are staying in two different cities, it has now taking stall at emotionally and physically on both of us (me, my wife and my two kids). I am desperately searching for job in Mumbai, however in my sector there are not very good opportunities in Mumbai. I tried my hands in two there places for job, however to my misfortune things didnt work out. I am a mid-senior level professional and have reached this position after a lot of hard work, however the stress has started affecting my performance and overall reputation in the organization. Hence there is constant stress of performance, ability to deliver, overall situation has lowered my confidence level affecting my work further. Dissatisfied with my work, my supervisor has already started sidelining me. I am desperately started thinking of leaving the job, however financial condition doesn’t allow me to do that. With COVID-19 pandemic things has worsened, as I am stuck in Delhi even in lockdown, leaving my parents and my wife struggling in Mumbai amidst the lockdown. Even now cant visit them as stressed, whether i will carry risk of infection to my parents, wife and kids, Hence staying away, it’s been 8 months that have not met them. Not sure, how to handle this. One way I thought as looking out opportunities in Mumbai, even if at junior level, However i am trying for that, but not getting suitable opportunities. Not sure, how to handle the pressures from family (Parents don't want to shift, wife is not ready to stay away and has given time till March, there constant pressure of performance). Not sure, what to do.
Ans: Dear S, surely, this pandemic has put many at inconvenience in different ways for each of us across the planet.

What we can do is make the best of what is at this point in time. It indeed is hard to be away from family at a time like this.

I know parents in some families do find it hard adjusting to a new city at their age and having your wife care for them as logical as the decision was has begun to take a toll on the family as a whole.

It is an amazing feeling to come back home to a family after a hard day’s work where they wait with love, care and support.

Either a job in Mumbai or moving your family to Delhi are the options as it is evident that family and their love is important for you to have the security and stability.

Having said this, Lockdown 5.0 begins soon, I think fearlessly take a call, visit your family.

If you think you want to isolate yourself in the fear of COVID-10, do so…but more that all of this, do sit down as a family, COMMUNICATE, talk to your parents about how this is affecting you and obviously they care and love you enough to hear your side of the story.

And finally, do what needs to be done to make sure that your parents understand and are taken care of and your wife and children are with you as a family.

Happy decision making and be happy!

..Read more

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Ramalingam

Ramalingam Kalirajan  |7029 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Nov 16, 2024

Asked by Anonymous - Nov 15, 2024Hindi
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Sir, I had purchased kotak premier endowment plan in 2020. SI is 2.82 lakhs and annual premium is 32k. Premium payment term is 10 yrs and maturity term is 17 yrs. After having paid premium for 4 years, i am thinking to surrender the policy as it doesn't convince me anymore with its benefits. However, after paying Rs. 1.28 lakh premium over 4 years, surrender value is coming to Rs. 82k only. Should i continue with this policy or surrender and invest the amount anywhere else. Pls advise. Thanks
Ans: You purchased the Kotak Premier Endowment Plan in 2020. This plan combines insurance with savings. The sum assured is Rs. 2.82 lakhs, and the annual premium is Rs. 32,000.

You’ve already paid Rs. 1.28 lakhs over four years. The premium payment term is 10 years, and the maturity term is 17 years. The surrender value is currently Rs. 82,000, meaning a loss of Rs. 46,000.

Now, you are contemplating whether to continue with this plan or surrender and invest elsewhere.

Evaluating Endowment Plans
Endowment plans typically offer low returns compared to other investment options.
Most endowment plans have a return rate of 4-6%.
The main benefit is insurance coverage, which is often inadequate.
By continuing with this plan, your money may not grow significantly. It also locks your funds for a long period.

Advantages of Surrendering
By surrendering, you free up Rs. 82,000.
You stop further premium payments, avoiding additional allocation to a low-return product.
You can reallocate the funds to better-performing investment options.
Drawbacks of Surrendering
You lose Rs. 46,000 from the premiums paid so far.
Early surrender often results in reduced returns.
The plan’s long-term guaranteed returns will no longer apply.
Alternative Investments
If you surrender, the next step is reinvesting wisely.

Equity Mutual Funds: Offers long-term wealth creation. These funds outperform endowment plans in the long run.
Small-Cap Funds: For higher risk appetite, this can provide superior returns.
Debt Mutual Funds: Suitable for lower risk tolerance. Ideal for stable and predictable returns.
PPF (Public Provident Fund): A safe and tax-efficient option for long-term goals.
Benefits of Actively Managed Mutual Funds
Active funds often outperform benchmarks.
Professional fund managers actively monitor market opportunities.
You benefit from diversification and risk management.
Avoid direct funds unless you’re a seasoned investor. A Certified Financial Planner (CFP) or mutual fund distributor ensures better guidance.

Why Insurance Should Be Separate
Insurance-cum-investment plans like endowment are not ideal.
Term insurance offers high coverage at low costs.
Use the money saved from premiums for pure investments.
Tax Implications
Surrendering may have tax implications. Check if your premiums qualified for Section 80C.
New gains from investments may attract taxation. For equity mutual funds, LTCG above Rs. 1.25 lakh is taxed at 12.5%.
360-Degree Financial Assessment
Financial Goals: Align investments with your goals (e.g., retirement, children’s education).
Risk Appetite: Choose investments matching your comfort level with risk.
Emergency Fund: Maintain liquid funds to handle financial emergencies.
Debt Management: Clear high-interest liabilities before investing.
Portfolio Review: Balance investments between equity, debt, and fixed income.
Final Insights
The decision depends on your long-term goals. Surrendering is better if the plan does not align with your financial strategy. Reallocate wisely to maximize returns. Consult a Certified Financial Planner for personalized advice.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

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