Many of us take out education, health and accident insurance policies for future needs. There is a possibility of evading the fines if the policy premium is paid on time. If the policy premium is not paid in cash or not, the policy may have some breaks. However, members of the Employees Provident Fund Organization (EPFO), which holds the Life Insurance Corporation of India (LIC) policy, are entitled to use their EPF money to pay their life insurance policy premium. This facility is provided by EPFO.
According to tax and investment experts, if an EPFO member has an EPF balance of up to at least two years' LIC policy premium, he can use his money in the EPF account to pay the LIC premium.
EPFO subscribers who are financially distressed due to job loss or any other reason can continue their LIC policy with the policy renewal payment from the EPF account.
To pay LIC premium from EPFO account, the employee has to submit Form 14 to EPFO. However, when submitting Form 14 at the EPFO office, make sure that the EPF balance is at least two years' LIC premium at the time of submission.
Under LIC Premium Renewal Terms, LIC allows you to renew the policy even if the premium is paid late. No late fee will be charged on policy renewal after 6 months from the date of policy renewal.
When a LIC policy is renewed after the policy renewal date of 6 months to 3 years, a certain late fee is payable along with the policy premium.
EPF money should be used only as a last resort for premium payment.
( 2nd Article) Title: Good News: Indian salaries increase hugely !! China or Russia have no antecedents!
Good news for Indian employees. Several reports have come to light that the salaries of employees in India are set to rise sharply this year. Moreover, it has been revealed that in the next five years, the salaries of employees from other countries will be higher than those from other countries.
According to the Ion Survey, a leading global professional services company, the salaries of Indian employees will reach a five-year high of 9.9 per cent in 2022. Companies are also forecasting a 9.9 per cent pay rise in 2022, compared to 9.3 per cent in 2021, according to the Ion Survey.
The study, which analyzed data from 1,500 companies in more than 40 industries, predicted the highest pay rise. The biggest gainers are in e-commerce, venture capital, high-tech / IT, IT-enabled services (ITES) and life sciences.
In the case of salaries:
Ion surveys were conducted in the BRICS countries of Brazil, Russia, India and China. The BRICS countries account for 41 per cent of the world's population, 24 percent of world GDP and 16 percent of international trade. However, an ion survey of the BRICS countries found that the salaries of employees working in India were higher than in Brazil, Russia and China. In terms of percentages, the pay rise will be 6 per cent in China, 6.1 per cent in Russia and 5 per cent in Brazil, the report said.
( 3rd Article ) Title: Another rare honor for India, Nita Ambani expressed her happiness !!
40 years later, India has received another rare honor. India has secured the rights to host the 2023 session of the International Olympic Committee in Mumbai next year. This session was held in 1863 in Delhi. Reliance Foundation Chairman and International Olympic Committee (IOC) member Neeta Ambani has hailed the conduct of the session in Mumbai again next year.
Speaking on the occasion, Neeta Ambani said that the session is being conducted in India after years of waiting. He thanked the International Olympic Committee for bestowing this rare honor on India. Moreover, Nita Ambani said the honor was a sign of significant development for India's Olympic aspirations.
( 4th Article) Title: Tech Mahindra: Tech Mahindra bumper for the unemployed
Leading IT company Tech Mahindra has brought good news to the unemployed. Tech Mahindra has announced a new program to provide employment to the unemployed. The company believes that employment opportunities for the unemployed will be further enhanced with this program.
Tech Mahindra's CSR division will provide free cloud computing training to the unemployed across the country. The AWS re / start program will be jointly taught by the Tech Mahindra Foundation and Amazon Internet Services Pvt. Ltd. Speaking on the occasion, Rakesh Soni, CEO, Tech Mahindra Foundation, said, "Cloud computing is a breakthrough in the 21st century. It is enabling digital transformation.
In 39 countries:
AWS Re / Start is offered in 39 countries. With the help of this program more than 90 per cent of the graduates will be directly connected with the job interview opportunities. This is a 12-week program. Individually, skill-based training is provided to the unemployed. It will cover basic AWS cloud skills, as well as practical career skills such as interviewing and resume writing. This will help you prepare for the entry-level cloud position. The program is available through TechLindra Smart Academy of Digital Technologies in Hyderabad, Mohali, Visakhapatnam, Bangalore, Delhi, Mumbai and Pune through online learning. As part of the program, students will learn programming languages (Linux, Python), networking, security and relational database skills through scenario-based exercises, hand-on labs and coursework, the company said. Tech Mahindra said the first two cohorts have already been launched on February 9, 2022 as part of the course.