Respected Sir, I invested in ICICI PRUD MF Rs. 40000 on 30-11-2005, and purchased NFO units (NAV=10, No. Of Units= 3911.980) after a gap of nearly 18 Years, in the month of August 2023, I made redemption request for all units for all units, and received Rs. 416799 with TDS deducted Rs. 6925. While Filing current IT RETURN, you are requested to guide me under which income head i have to show this said amount, and whether i have to pay tax liability on whole amount , any exemption therein. Regards

Ans: Hello;

To correct a mismatch in your father's name in your EPF account, you may;

1. Update online
Go to the "Manage" section in EPF portal, and update your father's name. Make sure the name matches with that in your Aadhar card. This request will have to be validated by your employer.

2. Submit a joint declaration
Submit a joint declaration with your employer to the Regional PF Commissioner. You will need to include valid supporting documents.

Best wishes;

Ans: Hello;

You can talk to the HR team of your new employer and discuss these aspects. Submit a written request over mail/letter, if need be.

Check with you peers in the new establishment.

Such errors are not expected from professional organisations.

Best wishes;

Ans: Hello;

Get it corrected vide joint declaration through your current employer.

Best wishes;

Ans: Hello;
What is the extent of future expenses for kids included in the retirement corpus of 5 Cr?

Kindly clarify so as to advise suitably.

Thanks;

Ans: Hello;

If you begin with a monthly sip of 30 K in a combination of large cap fund and balanced advantage fund (50:50) then you may expect a corpus of,
25 L after 5 years
48 L after 8 years and
70 L after 10 years.

A return of 12% is considered.

Happy Investing;
X: @mars_invest

Ans: Hello;

You should seek advice from a mutual fund distributor/certified financial planner to guide you to the most appropriate funds suited to you.

Happy Investing;

Ans: Hello;

Honest answer: any top quartile flexi cap equity mutual fund that comprises a basket of stocks, rather then a single stock.

Happy Investing;

Ans: Hello;

If your investment is for long term (5-7 yr+)then you should continue with your SIPs.

Your SIP is buying you more units in such downfalls.

Happy Investing;

Ans: Hello.
You did not mention which IIT college and course your son was getting. You also did not mention which college he has been admitted to. It seems that there is a wide communication gap between you and your son. Surprisingly, a candidate getting admission to IIT rejected it and went to a 3rd-grade college (as per your opinion). You are also not clear about, what was role when your son was denied to take admission to IIT and chose a 3rd-grade engineering college. There are lots of possibilities that your son has been denied IIT college which can't be discussed on this public platform.
It seems that your son is a talented, hard worker which is already reflected in his JEE result, there is no need to worry about his future. These types of candidates are less dependent on the college and faculty. They have their inbuilt capability to learn and excel in the life. There is no need to worry much about the decision taken by your son. Just observe that, whether he is attending college regularly and engaged in extracurricular activities. If he scores well in CSE, a bright future is waiting for him. Remember, a job career is less dependent on the college name! Nowadays, show your extraordinary skills and get the job!

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

Radheshyam