Deposit Insurance Scheme

US prosecutors say former FTX Chief Executive Officer Sam Bankman-Fried engaged in a scheme to defraud FTX's customers by misappropriating their deposits to pay for expenses and debts.

Prime Minister Narendra Modi on Sunday said deposit insurance reforms undertaken by the government will instil confidence in account holders on the banking system.

Deposit insurance is a protection cover against losses on bank deposits if a bank fails financially and has no money to pay its depositors.

Financial planners discourage early withdrawal from EPF, which is administered by EPFO. PPF remains one of the most popular small savings schemes.

The UAN remains portable throughout the lifetime of an employee, who doesn't have to apply for PF transfer claims while changing jobs.

Presently, employees and employers contribute 12 per cent of basic wages each towards Employees Provident Fund Scheme (EPF), Employee Pension Scheme (EPS) and Employee Deposit Linked Insurance Scheme (EDLI).

In the beginning of every fiscal year, employees are asked for details like their investment in ELSS, insurance policies, house rent, home loan, education loan etc. by their employer to arrive at the annual tax liability of an employee.

Employees Provident Fund Organisation is likely to increase the maximum insurance cover for subscribers under the Employees' Deposit Linked Insurance Scheme.

US prosecutors say former FTX Chief Executive Officer Sam Bankman-Fried engaged in a scheme to defraud FTX's customers by misappropriating their deposits to pay for expenses and debts.

Prime Minister Narendra Modi on Sunday said deposit insurance reforms undertaken by the government will instil confidence in account holders on the banking system.

Deposit insurance is a protection cover against losses on bank deposits if a bank fails financially and has no money to pay its depositors.

Financial planners discourage early withdrawal from EPF, which is administered by EPFO. PPF remains one of the most popular small savings schemes.

The UAN remains portable throughout the lifetime of an employee, who doesn't have to apply for PF transfer claims while changing jobs.

Presently, employees and employers contribute 12 per cent of basic wages each towards Employees Provident Fund Scheme (EPF), Employee Pension Scheme (EPS) and Employee Deposit Linked Insurance Scheme (EDLI).

In the beginning of every fiscal year, employees are asked for details like their investment in ELSS, insurance policies, house rent, home loan, education loan etc. by their employer to arrive at the annual tax liability of an employee.

Employees Provident Fund Organisation is likely to increase the maximum insurance cover for subscribers under the Employees' Deposit Linked Insurance Scheme.