TAX IMPLICATION ON LEAVE ENCASHMENT AMOUNT ON NORMAL RETIREMENT FOR A PSU BANK EMPLOYEE

I have retired normally from a PSU Bank. I have been given exemption of Rs 3 lakh from the leave encashment amount (eight months equivalent salary) on retirement and rest amount has been taxed by bank. As the Government employees are fully exempted, being a PSU bank employee, am I not eligible for the same benefit?

Ans: The Pradhan Mantri Scholarship for Pharmacy Post Graduate Studies (GPAT) allows successful candidates to receive a stipend through Canara Bank. To access this scholarship, candidates must contact the institution where they are pursuing their postgraduate studies in pharmacy.

If the candidate has not yet CONTACTED the institution, she should contact her principal to facilitate this process, with the Pharmacy Council of India (PCI). If she has already submitted her request, she can expect to receive the stipend soon (according to PCI's circular). The funds will be directly credited to the candidate's bank account.

Please note that my student, who is pursuing a PG in Pharmacy, is receiving a stipend and has completed the GPAT in the year 2023.

For reference, the Pharmacy Council of India has released relevant circulars. For more details, please visit the PCI website. Additionally, videos related to the GPAT scholarship for 2023 are available on YouTube.

If you need any additional information, please feel free to ask your question.

Ans: HI,
She should consider taking PCMB in her +2 because it offers numerous options for higher education after completing the course. Without the need for NEET, she can pursue the following courses:

- Bachelor of Naturopathy and Yogic Sciences (BNYS)
- Nursing (except for those at Central B.Sc. Nursing institutes REQUIRE A NEET SCORE FOR ADMISSION)
- Pharmacy
- Medical Lab Technology (MLT)
- Physiotherapy

ALL THE BEST.

Ans: Hi Mayuri,

Is your name the same as it appears on your birth certificate? Your name has been registered according to your birth certificate for the 10th class. Therefore, the birth certificate is the primary document registered with the local municipality or corporation. When you change your name on your Aadhaar card, they will require proof, so please attach your birth certificate when making the change.

Ans: It will depend on type of course and college. So, pl specify college and course.

Ans: If you are interested in that field then yes it is a good decision. To check your interest you can do some short course online.

Ans: Hello;

Current expenses of 65 K will reach a level of around 1.35 L in 15 years from now when you reach 50 age.

Even if you put entire 65 K in pure equity mutual funds for 15 years it looks tough to generate fixed monthly income good enough to cover your expenses fully at that time.

Hence my suggestion is you get into semi-retirement after 50 and continue some vocation or profession of your choice to also keep you occupied and generate some income for the next 10 years.

However I propose that you start a monthly sip into a combination of pure equity mutual funds for 45 K for
the next 15 years. (10 K each in flexicap, multi cap and large & midcap fund and 5 K in small cap)

This may yield you a corpus of around 2.27 Cr assuming modest return of 12%. This may provide you a post tax monthly income of around 96 K. You need to suppliment this through your alternate vocation.

Also start a monthly investment of 20 K into NPS with the intent to continue it till 60 age. At 60 this may grow into a corpus of around 3.8 Cr considering modest return of 8%.

The combined corpus of 6.07 Cr may yield you a monthly income of around 2.2 L post tax which is in line with your inflation adjusted expenses for 25 years.

Happy Investing;
X: @mars_invest

Ans: Let him go for M.Tech through GATE and regarding institutes search in net, Regards. Professor...........................:)

Ans: YES

Ans: Sasmita, Informatics Practices (IP) students in Commerce have diverse employment prospects due to their integration of financial acumen and technical expertise. They can pursue careers in Chartered Accountant, Company Secretary, Cost and Management Accountant, and other areas of expertise. Technical careers in IP include data analyst, financial analyst, business analyst, actuarial science, and e-commerce specialist. Vocational programs integrating commerce with IT include Bachelor of Commerce in Business Analytics, Bachelor of Business Administration in Business Intelligence and Analytics, Bachelor of Management Studies with Information Technology, and MBA in Business Analytics, Finance, or Marketing. Postsecondary educational paths include Bachelor of Commerce with a specialization in Information Technology, Computer Applications, or Financial Technology Diplomas. All The BEST for Your Prosperous Future.

Follow RediffGURUS to Know More on ‘Careers | Finance | Health | Relationships’.