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What happens to EPS if an employee above 60 doesn't opt for it and continues working?

Milind Vadjikar |348 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Oct 07, 2024

Milind Vadjikar is an independent MF distributor registered with Association of Mutual Funds in India (AMFI) and a retirement financial planning advisor registered with Pension Fund Regulatory and Development Authority (PFRDA).
He has a mechanical engineering degree from Government Engineering College, Sambhajinagar, and an MBA in international business from the Symbiosis Institute of Business Management, Pune.
With over 16 years of experience in stock investments, and over six year experience in investment guidance and support, he believes that balanced asset allocation and goal-focused disciplined investing is the key to achieving investor goals.... more

Asked by Anonymous - Oct 06, 2024Hindi

Money

agar employee 60 ki age main bhi eps nahi leta aur lagatar naukri karta hai to eps ka kya hoga?

Ans: EPS contribution stops at 58. You may delay pension for two years with or without contribution.

Thereafter(60 years) your EPS pension will start.

EPF you can keep on contributing till the time you want.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Mutual Funds, Financial Planning Expert - Answered on May 17, 2024

Asked by Anonymous - Apr 28, 2024Hindi

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10 Sal 4 mahine ka Mera job hai 58 year complete ho gaya hai pension bhi 58 year hone ke bad band ho gaya tha final withdrawal 19 form lagakar kiya tha reason 55 year ka de rahe hain ismein Main Kya kar sakta hun

Ans: Since you've completed 58 years of age and your job has lasted for 10 years and 4 months, it seems you're contemplating your options after ceasing your pension and completing the final withdrawal with Form 19, citing the reason as 55 years. Here's what you can consider:

Understanding Retirement Options:
1. Explore Alternative Income Sources:
Consider exploring alternative sources of income such as part-time work, freelance opportunities, or consulting services to supplement your financial resources.
Evaluate your skills and expertise to identify potential avenues for generating income during retirement.
2. Review Investment Portfolio:
Review your investment portfolio to ensure it aligns with your retirement goals and risk tolerance.
Seek guidance from a Certified Financial Planner to optimize your investment strategy and maximize returns.
3. Assess Social Security Benefits:
Determine if you are eligible for any social security benefits or government schemes that could provide additional financial support during retirement.
Consult with relevant authorities or financial experts to explore available options for accessing social security benefits.
4. Consider Delaying Retirement:
Evaluate the option of delaying your retirement to continue earning a steady income and build a larger retirement corpus.
Assess your health, lifestyle preferences, and financial obligations before making a decision to postpone retirement.
5. Seek Professional Advice:
Consult with a Certified Financial Planner to develop a comprehensive retirement plan tailored to your specific financial situation and goals.
Discuss various retirement options, investment strategies, and income sources to make informed decisions for your retirement years.
Conclusion:
As you navigate your retirement journey, it's essential to explore various income sources, review your investment portfolio, assess social security benefits, consider delaying retirement if feasible, and seek professional advice from a Certified Financial Planner. By taking proactive steps and making informed decisions, you can secure a financially stable and fulfilling retirement.

Best Regards,
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Chief Financial Planner,

www.holisticinvestment.in

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Radheshyam Zanwar |968 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Oct 07, 2024

Question by Srinivasan - Oct 07, 2024Hindi

Career

My son is doing his XII Standard in CBSE Curriculum with Maths,Physics, Chemistry and Biology as his group. He is yet to decide on what next after XII with his mind wavering between Astro Physics or Micro Biology with NEET in mind. Any guidance is welcome.

Ans: Hello Srinivasan.
I am glad to hear that your son is exploring diversified fields at this early stage. Astrophysics and Microbiology both are fascinating and rewarding paths, but they differ significantly in terms of the career options and the type of studies involved.
My suggestion for your son would be to focus only on the NEET examination at this stage. There is no need to divert the mind without any reason at this stage. After the NEET examination is over, you have ample time to discover more career options along with Astrophysics and Microbiology. The inclination toward career options of a student changes multiple times during the 11th and 12th. If he is brilliant, a hard worker, and dedicated to his studies, then set a goal of Min 650 marks in the NEET examination.
For Astrophysics: Focus on excelling in Physics and Maths in XII. He can apply to top institutions like IISc, IITs, or IISERs for B.Sc. programs.
For Microbiology: Prepare for NEET if he wants to take the medical path. Otherwise, he can explore a B.Sc. in Microbiology at a reputable university.

Best of luck for his future career and upcoming NEET examination.

If you are dissatisfied with the reply, please ask again without hesitation.
If satisfied, please like and follow me.
Thanks.

Radheshyam

Milind Vadjikar |348 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Oct 07, 2024

Question by S.Shunmuga - Oct 01, 2024Hindi

Money

I have a ppf account for my 3 year old child. According to new rules how many years I have to pay the account and when can we withdraw the amounts? Please explain in detail

Ans: If this is the only ppf account in the name of your child with you as guardian you can continue contributing to it till your child attains major status.

Then your child may extend or withdraw and close the account.

However if you have a separate ppf account in your own name then contribution in both accounts in a financial year cannot exceed cumulatively above 1.5 L.

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Insurance, Stocks, MF, PF Expert - Answered on Oct 07, 2024

Asked by Anonymous - Oct 07, 2024Hindi

Money

Now I'm 43 years old, but next 5 year's I need 3cr with best mutual funds to invest and son education, marriage and my retirement, currently I have housing loan commitment. 70lakhs, how should I close my loan ASAP and I should have 3cr in my hand. Kindly help me, I'm in scary situation, I'm working in private sector 95k my take home and current home loan emi is 63k, 4500 recently started investment through groww app in parakh Parikh small fund, 12500 in PPF etc, kindly help. I'm completely in debt trap.

Ans: Hello;

General Comments:
People always delay retirement planning for later stage but this is not ok.

Because when you are young the investible surplus amount maybe less but you have the biggest resource, time on your side.

A mere 25K monthly sip can achieve 3 Cr in 20+ years

Query Specific Comments:
If you need this corpus in 5 years then you need to make a monthly sip of 3.55 Lacs Minimum to reach 3 Cr corpus in 5 yrs.(modest return of 13% considered).

Focus on improving your earning because then you can earmark larger amounts for investing towards your goals.

Also try to prepay the home loan as early as possible through EPF corpus or some asset sale.

Do not panic if you diligently pre-close the home loan you have ample time to invest and create a comfortable corpus for your goals.

Continue investing in MFs with increasing allocation, PPF to reach your goals.

Happy Investing!!

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

Milind Vadjikar |348 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Oct 07, 2024

Asked by Anonymous - Oct 07, 2024Hindi

Money

I am 24 years old and earn a monthly salary of Rs.65,000. I am interested in investing some of my funds for future financial security and am also planning to marry in two years. As I have no prior knowledge of investment, I would greatly appreciate guidance on this matter.

Ans: Hello;

First and foremost buy a good term life cover including riders for critical care and accident benefit.

Ensure that you can top-up the sum assured later when you grow your responsibilities after marriage.

For retirement planning you should consider investing in NPS. If your office provides it well and good but otherwise also you can open NPS account and contribute regularly for financing your retirement. It's an E-E-E type of scheme. Charges are quite low and you can decide to select allocation to the asset classes like equity, corporate debt or sovereign bonds as per your risk tolerance. It allows limited withdrawal before 60.

If you decide to contribute to NPS per month an amount of 20 K, it will grow into a corpus of 6.51 Cr by the time you are 60 years of age.(A modest return of 9% is considered)

For all other goals such as marriage, house, kid's education, car, vacation you can use mutual funds as your mode of investments.

If you do a monthly sip of say 15 K into a pure equity mutual fund then at the end of 5 years you may expect to receive a corpus of 12.72 L considering moderate return of 13%.

Happy Investing!!

You may follow us on X at @mars_invest for updates.

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

Milind Vadjikar |348 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Oct 07, 2024

Asked by Anonymous - Oct 05, 2024Hindi

Money

Sir, Ppf investment in post office 10 years after amount withdrawal compulsory and how many years extension available 2.ppf investment in post office or bank best options

Ans: PPF scheme tenure is 15 years. After completing 15 years you have the option to renew for a block of 5 years or close and withdraw the entire sum.

Post office or bank both offer same PPF scheme. Their is NO difference. It is your choice. If you have a savings account with the bank then bank maybe convenient for contributions and withdrawals.

Nidhi Gupta |186 Answers |Ask -Follow

Physiotherapist - Answered on Oct 07, 2024

Asked by Anonymous - Sep 28, 2024Hindi

Health

I am 54 I want to improve my immunity please guide

Ans: Hello Anonymous,
Immunity can be improved in many ways. Listing a few-
1) Doing regular yoga and especially some form of breathwork for 15 minutes can help a lot.
2) Having some vitamin supplements like for Vit D3, B12 etc but this please take guidance of your Dr and then start
3) A healthy diet consisting of fruits, nuts, seeds, salads, soups, green leafy vegetables, fresh juices made of amla, ash gourd etc can help
4) Meditation plays a huge role in reducing stress and hence increasing immunity
5) Having a good deep sleep
6) Regular exercises like walks, cardio can help you stay fit.
All the best!

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Physiotherapist - Answered on Oct 07, 2024

Question by Naval - Sep 29, 2024Hindi

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Hi Mam Iam Naval Kishore aged 44 y having problems with burning sensation in different parts of body and burning sensation in hips lower thighs below hips and left leg sole thumb n fingers

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Have you done all your blood tests recently? Since how long is this happening?
Please go to your gp or a neurologist.

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Physiotherapist - Answered on Oct 07, 2024

Asked by Anonymous - Sep 24, 2024Hindi

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Hi Ma'am,Greetings of the day, I am a 30 years old man, I am not able to sleep from past 10 years because of this I am not able to eat anything on time, cannot work or concentrate cannot sit in one place or move , not able to excercise a bit or walk pain in my whole body, suffering because of this my weight is increasing day by day and I am tooo over weight kindly request you to please help and guide me what to do I am suffering tooo much and mainly because of motion sickness I am not able to go outside for simple chores kindly request you to please help. Warm Regards.

Ans: Hello Anonymous,
You need to give me more information to be able to help you.
Like what is your blood work like? Are you having any vitamin deficiencies? Are you having too much mental stress? Are you having sleep apnea? Why are you not able to sleep?
Are you exercising especially doing yoga and meditation?
Are you eating a healthy diet?
Which Drs have you visited for this issue?

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Physiotherapist - Answered on Oct 07, 2024

Asked by Anonymous - Sep 24, 2024Hindi

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Hi. I am married man and turned 43 recently. In my recent health check up, all reports were ok. But, I've observed that I get tired in the evening when I come home. I've office work only , even then I get tired now. Earlier it was not the case. Now when I play with my 1.5 year old daughter or, do some extensive physical work, I feel exhausted and tired. May be age factor. Your guidance please.

Ans: Hello Anonymous,
In your reports are your D3 and B12 levels ok?
Are you taking any vitamin or magnesium supplements?
Are you doing any kind of exercises especially a cardio workout?
Yes, after 40 the body does undergo changes and fatigue too hence post 40 it becomes even more crucial to take more care of our body. Usually some form of pranayama/breathwork helps a lot to reduce fatigue. Please learn some simple pranayamas' from a good yoga teacher and once you come home do them for 15 minutes and take a shower. Both can help in reducing fatigue and energizing you.
All the best!

See more questions »

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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