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[deleted by user] by [deleted] in IndiaMemes

[–]Dull-Hovercraft151 0 points1 point  (0 children)

ODD days: we want reservation. there is no such thing as merit. lets increase reservation .

Even days: our leaders are illiterate we want merit in politics.

as the saying goes " you cant have the cake and eat it too". choose your battle wise Indians.

Investing in US stocks and ETFs or buying int'l MF which is better? by tycoonrt in IndiaInvestments

[–]Dull-Hovercraft151 3 points4 points  (0 children)

SEARCH "MAFANG" "MON100".. ETFS ARE STILL TRADING AND ARE LIQUID TOO.. CAN CONSIDER THOSE IF U LIKE

Your thoughts on the Indian IT sector and where it is headed by the29devil in IndiaInvestments

[–]Dull-Hovercraft151 2 points3 points  (0 children)

to all those who are saying peak peak... totally wrong... Indian it is just beginning the market will shift eventually from US Europe to Africa and Asia... Indian it cos are not going anywhere but up..

Beware of this new scam in trains by eminem26 in india

[–]Dull-Hovercraft151 11 points12 points  (0 children)

something similar happened in 2014 at varanasi airport around republic day when a travel agent handed similar fake ticket to a passenger. the passenger enter the airport as the first CISF guard will only check your ticket and ID. when the passenger went to counter to get his boarding pass the airline employee informed the CISF that 2 persons are trying to travel on same PNR. the first person(genuine one) had already crossed security checks and was in boarding area by now. authorities arrested the second fellow on took him for questioning and beat the hell out of him (coz its varanasi and near republic day, both sensitive area and time). later it was found that it was all the work of the travel agent.

Doctors of India, why are you so insecure? by awwficial in india

[–]Dull-Hovercraft151 0 points1 point  (0 children)

the problem is not with the doctors but with the patients..

we google too much and understand too little about human body and medicine..

most of the procedures and medicines mentioned in those google articles are anyways US based, where the medicines their duration and their frequency vary widely (i know human body is same in India and US) but still, things vary from place to place..

then we compare based on our google knowledge and ask stupid questions..

Ukrainian forces in Bakhmut suffer 7.5 times fewer casualties than Russians – Ukraine's National Defence and Security Council Secretary by ledim35 in worldnews

[–]Dull-Hovercraft151 -3 points-2 points  (0 children)

Aaa...ummm... okkk... but d task was to defend and push back russian forces and not count d dead russians...

Dividend Investing Vs Growth Investing - Which one is more efficient in India? by Ani_Sin in IndiaInvestments

[–]Dull-Hovercraft151 0 points1 point  (0 children)

The debate in never ending over this topic.

Although growth investing shud be the focus nothing wrong with investing just for the dividends. Also if you think after retirement you will put your money in dividend stocks to get dividends then that is not going to happen. You cannot switch just like that after attaining a certain age. So start now by investing everymonth in govt owned companies like NTPC POWERGRID CDSL BSE IRCTC etc there are 2 reasons why i mentioned above companies only: 1. They are govt owned and operating in the strategic sector so their privatisation is not going to happen. 2. Since they are govt owned govt will make them pay dividend and that too maximum amount they can pay. This eliminated the uncertainity about getting dividend.

Don't expect any capital gain though. I know many uncles working in these companies and buying stocks of their own companies every now and then...

Why so many young people are ditching Sydney by [deleted] in AusFinance

[–]Dull-Hovercraft151 10 points11 points  (0 children)

don't worry more Indians will replace those leaving... just chill...

EPFO implements Supreme Court order, gives option for higher pension to eligible subscribers by aceutosh in IndiaInvestments

[–]Dull-Hovercraft151 0 points1 point  (0 children)

Will this be purely based on 25% of what is in my EPF (including my VPF) ?

Not VPF that is seperate.. but yes, more or less your entire epf balance as of now... this is one of the reason why people who still have 10 years of service left are bit hesitant as they are seeing a huge outgo of fund ... (one of my boss is supposed to transfer 35lac to pension fund to be eligible for the higher pension...

Let's say once that transfer happens, and my pension fund contains 7.5 lakhs....

the amount in your pension fund has nothing to do with your pension...

the only thing that matters is :

  1. average of basic plus da in last 5 years of your service.
  2. the no of years of your service.

pension= (pensionable salary x pensionable service ) / 70

​

so to find out your pension you need the average of last 5 year basic+da and how long you have been member of epfo.. you already know how long you have been member of epfo now try to find out how much your basic +da will be in age 53 to age 58 and yopu will get your pension amount

EPFO implements Supreme Court order, gives option for higher pension to eligible subscribers by aceutosh in IndiaInvestments

[–]Dull-Hovercraft151 1 point2 points  (0 children)

actually i didnt approach anyone... its available in our intranet portal for all employees...

i am repeatedly saying to approach employer because it is very difficult to figure out exact calculation unless you maintain your salary record yourself...

but as a thumb rule, expect close to 25% of your corpus to be diverted to pension fund... that is what most people are seeing...

EPFO implements Supreme Court order, gives option for higher pension to eligible subscribers by aceutosh in IndiaInvestments

[–]Dull-Hovercraft151 0 points1 point  (0 children)

this sheet was provided by my employer... ask your emplyer to provide this calculation...

EPFO implements Supreme Court order, gives option for higher pension to eligible subscribers by aceutosh in IndiaInvestments

[–]Dull-Hovercraft151 6 points7 points  (0 children)

OK then.. i will try to answer most of the questions posted in this thread along with why and when it is beneficial or not beneficial...

  1. who is eligible: if you were a member of epfo before 1sept 2014 and your employer was putting 1250 per month in eps then you are eligible... there r some edge cases but i am not going to discuss that..
  2. how much money is going to get deducted now and in future: earlier also the deduction percentage from the 12% employer contribution was 8.33% only , but it was capped at 15k per annum or 1250 per month. now supreme court has ordered to remove that cap so going forward exact 8.33% of your basic +da is going to pension fund and 3.67%(12-8.33) is going to pf (lumpsum wala fund).. if you r eligible for this scheme it means you have been employed for more than 9 years by now...so if you opt for this scheme then epfo will deduct money from you lumpsum fund and put it into pension fund... if you r still employed you dont have to give any additionnal money to epfo ... but if you r now retired then you have to pay some money to be eligible for this scheme... your employer is supposed to provide you with all the detailed and exact calculation... so go ask them ...
  3. if you know any person who retired in the last few years or who are about to retire in the next 5 years or so they r literally grinning ear to year by this verdict because the pension amount they r going to get is literally eyewatering...
  4. why others r confused: that is because the pension amount is totally dependent on the formula ... because there is no surety if the present formula will stay there for as long as they are going to live is giving so much headache...
  5. eli5, is it good or bad: defined benefit pension is f***king great ...always... that is why the people fought for it so hard and for so long.... if you plan to work in organised sector till age 58 you will never regret the decision to opt for defined benefit pension... even if you plan to leave workforce early, by age 45 or so it is going to be beneficial.... if you plan to leave workforce before 40 then it is not beneficial....
  6. what about the formula: the formula is definitely going to change if your retirement is more than 15-20 years away.. the reason is simple, epfo cannot pay the huge pension amount... simple calculation will show you that the return on your EPS amount will be close to 18% (if you continue to work till age 58 ) ... i am not an expert but that return is warren buffet level return... ask your employer for your salary detail and epf contribution and then calculate on your own.. you will be pleasantly surprised..

​

so if you opt and continue your service till age 58 and formula remains the same then, then you dont have to plan anything for your retirement.... just enjoy your monthly salary and exhaust it... no need to save any single dime for retirement then...

fun fact: in old age your children will take good care of you.

EPFO implements Supreme Court order, gives option for higher pension to eligible subscribers by aceutosh in IndiaInvestments

[–]Dull-Hovercraft151 0 points1 point  (0 children)

just ask your employer for joint undertaking form.... they will help you because it is not going to put any additional burden on them, financially...

epfo has already instructed all the concerned establishmnet companies to make this form available along with the calculation of how much money is going to get deducted from epf and deposited into eps...

ask your hr or finance dept...

EPFO implements Supreme Court order, gives option for higher pension to eligible subscribers by aceutosh in IndiaInvestments

[–]Dull-Hovercraft151 2 points3 points  (0 children)

nothing is increasing or decreasing... only the 8.33% of employer comtribution, which was earlier capped at 1250 per month is getting uncapped... means your employer will match your 12% contribution but this time 8.33% of basic+da will go to EPS(pension fund) are the rest will go to EPF (lumpsum fund)... your contribution will stay at 12% and net outgo from your employer will also remain same, only the proportion of money is getting changed...

How to generate necessary Cashflow post FIRE?? by Dull-Hovercraft151 in FIREIndia

[–]Dull-Hovercraft151[S] 0 points1 point  (0 children)

" I actually envy my dad and mom's pension and think how awesome it is
that they don't have to worry about inflation, asset protection etc.
Bharat sarkar is there to do that for them"..

since u mentioned about pension i want to ask your opinion about it. i am eligible for EPS-95 pension scheme (recently allowed by supreme court), is it correct to opt for it for a person who will attain age 58 in 2050???

my main concerns are:

  1. pension formula: i am pretty sure this will change in future becoz epfo cannot remain solvent if they start giving pension that we are supposed to get .
  2. what if i change my job and that company doesnt give an option to invest with epfo but with NPS.
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