Latest news with #ProvidentFund
India Today
6 days ago
- Business
- India Today
No guarantees in mutual funds: Investment adviser warns against risky PF advice
'Withdraw your PF and invest in mutual funds. I can get you 12% guaranteed.' That's what a financial advisor told someone recently. Sounds smart? 'It's actually reckless advice,' said Abhishek Kumar, a Sebi-Registered Investment Adviser and founder of SahajMoney.'Because here's the truth: no one can 'guarantee' 10–13% returns in mutual funds. That's not how market-linked products work,' he said in a recent Linkedin post. advertisementKumar, who has been in the financial planning business for over 15 years, says he has seen many such cases—'well-meaning families being misled in the name of 'higher returns.'' He calls this kind of advice dangerous, especially when it involves the Provident Fund, or PF. 'PF is your retirement safety net. That money is meant to grow slowly, safely, and tax-free. Touching it for higher-risk products can wreck your future security.'While mutual funds can be valuable tools for wealth creation, Kumar stresses they are not meant to replace guaranteed instruments. 'Mutual funds are great, but not for guaranteed income. Returns are market-driven. One year may give 15%, another might give -2%.'advertisementThe push for guaranteed returns, he adds, often comes from individuals who don't have the investor's best interests in mind. 'Many 'advisors' are actually sales agents. They earn commission when you invest through them. That means their advice often serves their income, not your goals.'And just because it's possible to withdraw PF doesn't mean it's the right choice. 'Yes, you can withdraw PF. But should you? Unless there's an emergency or a solid retirement backup—don't mess with it.'Kumar also points out that 'risk isn't always visible up front.' 'When the market crashes, it's not the advisor who suffers—it's you,' he added. His advice for individuals is to stay alert and avoid falling for promises related to market-linked returns. 'So take 'guarantees' with a mountain of salt. If your advisor pushes risky products with fake guarantees, fire them. A real advisor will protect your peace of mind, not gamble your future.'(Disclaimer: This article is for general informational purposes only and does not constitute financial advice. Readers are encouraged to consult a certified financial advisor before making any investment or financial decisions. The views expressed are independent and do not reflect the official position of the India Today Group.)- Ends
Time of India
23-06-2025
- Business
- Time of India
How to merge multiple PF accounts?
Since each new employer creates a separate PF account, it becomes essential to consolidate them into a single account. Salaried employees often end up with multiple Provident Fund (PF) accounts due to job changes over the course of their careers. Since each new employer creates a separate PF account, it becomes essential to consolidate them into a single account. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) Let us understand how you can merge multiple Provident Fund accounts Salaried employees often end up with multiple Provident Fund ( PF ) accounts due to job changes over the course of their careers. Since each new employer creates a separate PF account, it becomes essential to consolidate them into a single account. This ensures accurate interest accumulation, simplifies fund management, and prevents complications during final withdrawal or pension is important to first ensure that your Universal Account Number (UAN) is active. This unique number remains the same across jobs and is used to link all your PF need to ensure that KYC details (like Aadhaar , PAN and bank account) are updated and verified in your current PF account. This is crucial for seamless the EPFO member portal and log in using UAN and password. Under the 'Online services' tab, select 'One member–One EPF account (transfer request)'. Enter previous PF account details and submit the request. The request is authenticated using Aadhaarbased OTP. Once submitted, the EPFO initiates the merging previous employer may need to verify your request digitally. After that's approved, the funds and service details are transferred to your active PF account.• Only PF accounts linked to the same UAN can be merged.• It is crucial to ensure previous employer's exit dates are updated to avoid transfer on this page is courtesy Centre for Investment Education and Learning (CIEL).Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.
The Hindu
21-06-2025
- Politics
- The Hindu
Welfare trust demands fair wages, social security for domestic workers
Regulating the domestic work sector and promoting the dignity of labour was in focus at a meeting organised by the state chapter of the National Domestic Workers' Welfare Trust (NDWWT) in Tiruchi on Saturday. The programme was part of a series of meetings held to observe the 15th International Domestic Workers' Day in the State and was attended by over 50 women in Tiruchi. In his address, A. Divianathan, Additional Commissioner of Labour, Tiruchi zone, who holds charge as Secretary, Tamil Nadu Manual Workers Welfare Board, Chennai, encouraged the workers to approach the authorities for redress of issues they faced professionally. 'The world is waking up to the condition of domestic workers and this is being reflected in our country's policies too. Use the favourable atmosphere to promote your personal and professional well-being,' said Mr. Divyanathan. P. Clarammal, state coordinator, NDWWT, presented a list of demands on behalf of the workers. These included the enactment of a comprehensive central legislation for domestic workers, fair wages, social security, and legal rights. 'We urge the implementation of the Supreme Court's judgemnt of January 29 that directed the Centre to consider enacting a law to protect the rights of domestic workers. We want legal protection against sexual harassment,' she said. The enabling of Employee State Insurance, Provident Fund, and social security benefits were among the other demands.
India Today
19-06-2025
- Business
- India Today
Bengaluru techie hospitalised after CEO's outburst on video call, shares traumatic post
A harrowing account shared on Reddit by a Bengaluru techie has sparked concern around workplace abuse in India's tech startup techie, in the post shared on the Reddit account r/IndianWorkplace, described their traumatic experience after working at a 'small event discovery startup' in Bengaluru as a junior data scientist, claiming that they suffered relentless psychological harassment during their the post titled 'I had a complete breakdown during a work video call because my CEO kept screaming - still dealing with the trauma,' the techie recounted seven months of mental torture under a non-technical CEO who 'micromanaged everything, imposed unrealistic deadlines, and yelled constantly'. Writing about their 'psychological torture', the Bengaluru techie added that their CEO had 'zero technical background but believed he was a data science expert'.'He'd create these completely unrealistic deadlines from thin air, change project requirements whenever he felt like it, and then lose his complete mind when reality didn't match his delusions,' the techie said, adding: 'Every. Single. Day. This chap demanded I explain every minute detail of my work directly to him. If my explanation wasn't flawless, or if he couldn't understand something technical, he would completely explode. I'm talking about full-scale screaming sessions where he'd destroy me both professionally and personally.'advertisementDespite working 12-14 hour days, weekends included, the techie said they were constantly belittled and publicly humiliated. Things, however, took a dark turn during a Google Meet, held a week after their resignation.'I tried desperately to address his points professionally, but he just kept escalating. Yelling louder and louder. The verbal attack was so brutal that I literally couldn't breathe properly. My chest started tightening, I began struggling for air, and I completely collapsed in my chair. Thank God, my mother heard the chaos from the adjacent room and rushed me to the hospital immediately,' they the trauma didn't end with the resignation. The company's HR - a one-person department – had a rather cold response to the medical emergency, portraying basic legal obligations like final settlement and experience letters as favours.'Then they intentionally delayed my Provident Fund paperwork for months, ignoring my respectful follow-ups. It felt like deliberate sabotage designed to harm my career opportunities. Anyone who's worked in India knows how crucial smooth PF transfers are, and toxic companies love creating obstacles in this process,' the techie added.'I still get flashbacks. This man made me question my skills, my worth, everything,' the employee said, adding that the CEO even brought a young intern to tears in a similar the entire post here: The Bengaluru techie concluded their post with a message of solidarity for those suffering in silence: 'If someone consistently makes you feel worthless, the issue is with them, not you. Your mental health is more important than any salary.'Tune InMust Watch
Mint
19-06-2025
- Business
- Mint
Bengaluru news: Employee hospitalised after company and HR continue ‘vindictive behaviour' even after resignation
At a tech startup in Bengaluru with a 'non-tech micromanaging' CEO, an employee suffered a complete breakdown, leading to hospitalisation because of the 'vindictive behaviour' of the company and its HR, even after they resigned. In a viral Reddit post, the employee, a Junior Data Scientist, said they survived 7 months of relentless psychological harassment, claiming that the CEO 'micromanaged everything, imposed unrealistic deadlines, and yelled constantly'. They shared that the CEO would demand an explanation for every minute detail of work, and if the explanation wasn't flawless, or if he couldn't understand something technical, 'he would completely explode'. 'I'm talking about full-scale screaming sessions where he'd destroy me both professionally and personally.' The employee said they think they were 'specifically targeted' because of being 'quiet and physically thin - an easy victim for his power games'. 'It was always criticism, always fault-finding, always something I was supposedly doing incorrectly.' The Redditor said they worked at the company for 12-14 hours each day, for seven consecutive months, 'weekends included.' 'I took exactly TWO sick days the entire period.' Eventually, the employee said they 'couldn't endure it anymore and submitted my resignation.' A week after their resignation, the employee said they were working from home when the CEO scheduled a Google Meet and 'deliberately excluded my reporting manager.' The Redditor shared that they 'desperately' tried to address the CEO's points professionally, 'but he just kept escalating. Yelling louder and louder.' The verbal attack was so brutal that the employee collapsed. 'I literally couldn't breathe properly. My chest started tightening, I began struggling for air, and I completely collapsed in my chair.' Thankfully, the Redditor's mother heard the chaos from the adjacent room and rushed them to the hospital immediately. The Redditor said the torture did not stop even after their hospitalisation. 'The HR department, handled by a single person, was equally malicious. She had the audacity to frame my medical emergency as some kind of charity they were providing by paying my final settlement despite my 'prolonged absence'.' The prolonged absence the HR referred to was, according to the Redditor, TWO days off in seven months, then three additional days of doctor-prescribed rest after a high-stress work-induced breakdown. The employee also said that the company 'intentionally delayed my Provident Fund paperwork for months, ignoring my respectful follow-ups.' 'It felt like deliberate sabotage designed to harm my career opportunities.' The Redditor said they still have flashbacks about that call on some nights. 'It's horrifying how one individual can completely destroy your mental health and self-confidence.' 'I understand people say 'just quit toxic jobs', but when you're experiencing it, especially as a young professional building your career, it's incredibly complex. You start believing maybe you're actually the problem.' On a sombre note, the Redditor said, 'These workplace bullies exist everywhere, and they're not just 'demanding bosses' - they're psychological abusers who happen to control your salary.' 'To anyone currently trapped in a similar nightmare: your mental health is infinitely more important than any salary. Trust your instincts. If someone consistently makes you feel worthless, the issue is with them, not you,' the employee suggested.
