How to do E-nomination in PF account
What is E –Nomination for Provident Fund? The employees must ensure the proper nomination of his/her employee provident fund so that the family members who are the nominees, do not have to make frequent visits to the Government offices to receive the provident fund claims. The whole E-Nomination process on the EPFO portal takes only just 15 mins, unlike the initial process which used to take much more time. Why is it necessary to file an E – nomination of Employee’s Provident fund? E- Nomination by PF holder helps him/her to file for online pension claims. It had become easier
Read moreBusiness Loan for Women Entrepreneurs
In today’s post, we are going to talk about how women entrepreneurs can make a difference in society with their contributions by availing business loan for women. Without women’s contribution, we can’t think about great India. In a patriarchal society like India, women have been struggling hard to break the shackles of old prejudices and practices, removal of which will also give them the confidence to be self-dependent and will come across as the major counterpart contributing towards the growth and prosperity of the economy. Premillennial women faced a lot of difficulties and restrictions to also join the workforce and
Read moreBusiness Finance Tips for Entrepreneurs to manage their finances
Many businesses face difficulties in managing their finances and end up losing out money that can be utilised better on for other business activities. It becomes imperative for the small business to keep their fund organised as they are involved in the day to day operations and loses track of their daily finances. Here are the 7 tips that will help businesses to manage their small business finances in an organised way. 1. Separate personal & business banking accounts Businesses shouldn’t have any business transactions going through the personal accounts of the owner as it becomes challenging to dissociate accounting
Read moreWorking Capital – Stent that helps business to run
What is working capital? Working capital is the fund that is available to a company for its day to day operation. A company’s working capital includes cash, inventory, account receivable, accounts payable that can also be extended to inventory management, debt management, revenue collection and payments to suppliers. How to calculate working capital loan? One can calculate the working capital of the company by subtracting current liabilities from current assets. Working Capital = current assets – current liabilities The formula for net working capital is (Current assets – cash) – (Current liabilities – debt considerations) = Net Working Capital How
Read moreNew Tax or Old Tax Regime – Which one should you pick?
Much awaited tax system has already been announced by the finance minister Nirmala Sitharaman on Feb1, in the budget 2020. The curiosity among the taxpayers of the country was build up as this year tax system claimed to be the improved version of the old tax system. The objective of the new tax regime is to remove the complications of the current tax system with numerous exemptions and deductions and to eradicate the dependency on the financial consultants that arise from the complexity. What is a new tax slab? In the new income tax regime, 6 slabs have been introduced
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