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Omkeshwar

Omkeshwar Singh  | Answer  |Ask -

Head, Rank MF - Answered on Nov 26, 2021

Mutual Fund Expert... more
George Question by George on Nov 26, 2021Hindi
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Have read your questions and answers section and I like the same.

Till now, have not invested in MF except Rs 1 lakh in Edelweiss share market.

Am planning to move my FD to MF.

Kindly request you to suggest some funds where I can start a SIP and invest upto Rs 2 lakhs in lumpsum.

Age: 48 years

Total amount to invest per month: Rs 25,000.

Planning for invest upto: 58 years (10 years).

Request you to suggest the best option of mutual fund for SIP of Rs 25,000 per month and one time lump sum of Rs 2,00,000.

Ans: You can consider Axis ESG Equity Fund (Growth), DSP Focus Fund (Growth), ICICI Prudential US Bluechip Equity Fund (Growth), Parag Parikh Flexi Cap Fund (Growth), SBI Magnum Globad Fund (Growth) and DSP Quant Fund (Growth).

 

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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Ramalingam

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Mutual Funds, Financial Planning Expert - Answered on Apr 08, 2024

Asked by Anonymous - Apr 07, 2024Hindi
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Hello Sir, I want to invest 25k monthly in SIP with retirement and child education as investment goal . I am also planning to step up the SIP amount every year after I get the increment. Could you please tell me in which MF fund should I invest and how much should I increase the SIP amount very year. Target corpus ( investment horizon - 15 years) Retirement (least amount ) - 4-5 Cr Child Education - 4-5 Cr My wife is also working and can invest 15k more in addition to above amount.
Ans: Given your investment goals and time horizon, here's a suggested investment plan:

Retirement Corpus:

Allocate a significant portion of your SIP amount to large-cap, multi-cap, and diversified equity funds.
Large-cap funds offer stability, while multi-cap and diversified equity funds provide growth potential.
Gradually increase SIP amounts annually to keep pace with inflation and salary increments.
Child Education Corpus:

Diversify your SIPs across large-cap, multi-cap, balanced, and thematic funds.
Large-cap funds offer stability, while multi-cap and balanced funds provide growth potential with lower volatility.
Thematic funds can be considered for specific sectors or themes with growth potential, but exercise caution due to higher risk.
Combined SIP Allocation:

Allocate SIP investments based on your risk tolerance, investment horizon, and financial goals.
Balance the allocation between retirement and child education based on priority and time horizon.
Gradually increase SIP amounts annually to align with your financial goals and growing expenses.
Review and Monitoring:

Regularly review the performance of your SIP investments and adjust asset allocation if necessary.
Seek advice from a financial advisor to periodically assess your progress and make any required adjustments to stay on track with your goals.
By following a diversified investment approach and gradually increasing your SIP amounts over time, you can work towards building a substantial corpus for both your retirement and your child's education.
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Shekhar

Shekhar Kumar  |89 Answers  |Ask -

Leadership, HR Expert - Answered on Apr 29, 2024

Asked by Anonymous - Apr 27, 2024Hindi
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I want to work in cosmetic industry. Is it better to do major in chemistry or do chemical engineering? Which has high scope? Also is their any scope in chemical engineering in upcoming years? And how is the pay like? Other than chemical engineering wh8ch has highest demand and salary?
Ans: Both chemistry and chemical engineering can offer pathways into the cosmetic industry, but they involve different focuses and skill sets. Chemistry majors typically focus on understanding the fundamental principles of chemistry, including chemical reactions, molecular structures, and the properties of substances. If you have a strong interest in studying the composition, behavior, and interactions of molecules, a major in chemistry may be a good fit for you. Chemical engineering majors, on the other hand, apply principles of chemistry, physics, and engineering to design and optimize processes for the production of chemicals, materials, and consumer products. If you're interested in applying scientific principles to solve real-world problems and develop new products or processes, chemical engineering may be more suitable. Chemistry majors may pursue careers in various industries, including pharmaceuticals, biotechnology, cosmetics, materials science, environmental science, and academia. Potential roles for chemistry majors include research scientists, laboratory technicians, quality control analysts, and regulatory specialists. Chemical engineering majors have opportunities in industries such as petrochemicals, polymers, pharmaceuticals, food processing, energy, environmental engineering, and consumer products. Chemical engineers may work in roles such as process engineers, manufacturing engineers, project managers, and consultants. Both chemistry and chemical engineering offer competitive salary potential and job prospects, but the specific opportunities may vary depending on factors such as industry demand, location, experience, and specialization. The job market for chemistry and chemical engineering may fluctuate based on economic conditions, industry trends, and technological advancements, but salaries for chemical engineering professionals are better than those for chemical majors in the cosmetic industry. In addition to chemistry and chemical engineering, there are several other fields of study that can provide pathways into the cosmetic industry, which include biology or biochemistry, pharmacy or pharmacology, materials science or engineering, biotechnology, dermatology and dermatological sciences, marketing and consumer science, and environmental science and sustainability. These are just a few examples of fields of study that can lead to careers in the cosmetic industry.

Ultimately, the best choice for you depends on your personal interests, strengths, and career aspirations. Consider researching each major, exploring potential career paths, and speaking with professionals in the field to gain insights into the opportunities available and make an informed decision that aligns with your goals.
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Leadership, HR Expert - Answered on Apr 29, 2024

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I worked for a private PMC company with appointment letter later after four months they were unable to pay salary and assured us by mails and what's up messages that, they are having some financial problems and requested to continue and pending salaries would be released soon and later stopped taking calls, We have resigned but they have not settled our account and now again become active. What action can be taken.
Ans: It's unfortunate that you're facing this situation with your former employer. Gather all relevant documentation related to your employment, including your appointment letter, emails, WhatsApp messages, and any other communication regarding salary payments and promises made by the company. Having a record of these interactions will be crucial for any potential legal action. Reach out to the company via email or written correspondence to remind them of the outstanding salary payments and request immediate settlement of your dues. Clearly outline the amount owed, the period for which you worked without compensation, and any promises or assurances made by the company regarding payment. If the company fails to respond or refuses to settle your dues, consider seeking legal advice from a labor lawyer or legal aid organization. They can assess your situation, advise you on your rights and options, and help you take appropriate legal action to recover your unpaid wages. Depending on the jurisdiction and labor laws in your area, you may have the option to file a formal complaint or grievance with the relevant labor department or regulatory authority. Provide them with all relevant documentation and information about your case, and they may investigate the matter and take action against the company if warranted. If you see other employees are also affected by unpaid wages or mistreatment by the company, then consider organizing collectively to amplify your voices and increase pressure on the company to resolve the issue. This could involve forming a group, sharing information and resources, and coordinating efforts to seek redress through legal channels or public advocacy. Throughout this process, it's important to protect your rights and avoid taking any actions that could jeopardize your legal standing or future claims against the company. Keep records of all communications, consult with legal experts, and be prepared to assert your rights if necessary. Stay informed about any developments related to the company, including changes in ownership, financial status, or legal proceedings. This information may affect your ability to recover unpaid wages or seek other forms of recourse.

Remember that recovering unpaid wages can be a complex and challenging process, but by taking proactive steps, seeking appropriate guidance, and advocating for your rights, you can increase your chances of obtaining a favorable outcome.
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Shekhar

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Leadership, HR Expert - Answered on Apr 29, 2024

Asked by Anonymous - Apr 27, 2024Hindi
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It's been a year since I completed my engineering in mechanical engineering. I am currently unemployed. I keep sending resume through LinkedIn, indeed, monster. I only get rejection replies. I have lost confidence in everything. What i specialised and has more interest is mechanical design and simulation, but majority companies prefer experienced candidates. For my other plans to work out i initially needed a job for money as well as for experience. It's very depressing and i am kind of letting go my dreams. I feel I am very incapable of even find a job after a course. What difference do I make with those who took a year off to clear remaining arrears.
Ans: It's understandable to feel frustrated and discouraged when facing challenges in your job search, especially when you're passionate about a specific field like mechanical design and simulation. However, it's essential to remember that setbacks are a natural part of the job search process, and they don't define your worth or capabilities. While gaining work experience may seem challenging at the moment, you can focus on enhancing your skills and knowledge in mechanical design and simulation. Consider enrolling in online courses, workshops, or certification programs related to CAD software, finite element analysis (FEA), computational fluid dynamics (CFD), or other relevant areas. Reach out to professionals working in mechanical design and simulation roles through LinkedIn or industry events. Request informational interviews to learn about their career paths, experiences, and insights into the industry. Building relationships with professionals in your field can lead to job opportunities, mentorship, and valuable advice for your career. Look for internships, co-op programs, or entry-level positions that offer opportunities to gain hands-on experience in mechanical design and simulation. While these roles may not always be advertised, reaching out to companies directly or through your network can help you uncover hidden opportunities and demonstrate your enthusiasm and commitment to the field.

Remember that finding a job after completing your engineering degree is a process that takes time and persistence. Stay committed to your aspirations, continue investing in your skills and knowledge, and remain open to new opportunities that come your way. With determination and perseverance, you can overcome obstacles and find success in your chosen field.
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Moneywize

Moneywize   |98 Answers  |Ask -

Financial Planner - Answered on Apr 28, 2024

Asked by Anonymous - Apr 27, 2024Hindi
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I want to purchase auto insurance for my Maruti Ertiga which I purchased two years ago. Which auto insurance policy will best look after my interests in the event of an accident which could lead to fatalities or lead me permanently disabled? I want to choose an auto insurance policy that will take care of hospitalisation as well as permanent disability.
Ans: In the unfortunate event of an accident with your Maruti Ertiga, a comprehensive car insurance policy will best serve your interests. Here's why:

Comprehensive Coverage:

• Third-party Liability: This is mandatory by law and covers any injuries or property damage caused to a third party due to an accident involving your car.
• Own Damage Cover: This protects your Maruti Ertiga from damages caused by accidents, theft, fire, natural calamities, etc.

Additional Coverage for Permanent Disability and Hospitalisation:

• Personal Accident (PA) Cover for Owner-Driver and Passengers: This add-on provides a lump sum payout in case of death or permanent disability due to an accident. You can extend this cover to include your passengers as well.
• Medical Expenses Cover: This add-on reimburses hospitalisation expenses incurred due to injuries sustained in an accident.

Here's what to consider when choosing an insurance provider:

• Claim Settlement Ratio (CSR): Look for insurers with a high CSR, which indicates a good record of settling claims promptly.
• Network Garages: Opt for an insurer with a wide network of cashless garages for repairs to ensure a hassle-free experience.
• Customer Service: Choose a company known for providing prompt and helpful customer service.

Popular Car Insurance Providers in India:

• Acko General Insurance
• HDFC Ergo
• The Oriental Insurance Company
• National Insurance Company
• Bajaj Allianz General Insurance

Researching and Comparing Policies

• Use online insurance aggregator websites to compare quotes from different providers. These websites allow you to input details about your Maruti Ertiga, your driving history, and desired coverage options. They will then provide you with quotes from various insurers, allowing you to compare prices and features.

Consulting a Financial Advisor

• Consider consulting a financial advisor who can help you assess your specific needs and recommend the most suitable car insurance policy for your Maruti Ertiga.
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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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