Tag Archives: Finance

What is PF and How it Will Help in Future?

PF is the abbreviation of Provident Fund which is paid by the employees of particular company or organization. Every organization from private to government collects provident funds. The PF amount is decided on the basis of the salary you get with the company’s standard level. The PF amount is received once the individual is retired. You can also receive PF when the person leaves the particular company, the PF amount is calculated on the basis of his working days. Pf helps you in the time of retirement; make sure you collect your PF while you leave the organization which is small amount of your monthly salary.

If you are working in Government Company then you are the one who is most benefited with PF. This is because after you retire you will receive large amounts of PF as your salary is more than private companies. We are also given the option of taking loan from our provident funds. The tax free interest and maturity ensures us with handsome amount of money leading to savings in the future after retirement.

future retirement plans

Though PF benefits us in our future retirement plans but there are several other factors which benefit us in future with PF:

  • Pension Benefits: The pension on retirement is based with the number of years of service given in the company and the average salary before retirement. Pension helps you to survive our future without any income coming through PF and enjoy the later years peacefully.
  • Insurance benefits: Most of us are not aware of the fact that small life insurance is covered under PF which helps when the employer doesn’t provide the company with group health insurance policy. Avail this PF to benefit your family in future.
  • Require funds in special occasions or have emergency, EPF gives the option to withdraw from the company with a limit and under special conditions.
  • In case you need funds for marriage or education you can withdraw 50% of PF from your contribution. This benefit gives you to withdraw the PF amount for 3 times in a year.
  • PF also benefits you with buying a new house, repairing and construction and also for repayment of the house loan. For house loan and repayment you can avail 36 months of wages from PF balance in you have completed 10years in the company. And for repairing and construction work you can avail 12 month of PF amount.
  • PF gives major benefits for surgical operation in hospital or any major disease. You can withdraw 6 times of you salary from Pf contribution till date.
  • Other benefits like buying equipments for physically handicapped person can also help you with the PF amount.

You are provided with the facility to nominate your house members who will receive the funds in your absence and thus you family must be aware of it. Provident Fund tool though gives us lot of benefits for our future; the important aspect to remember is that it is retirement tool and only should be used when PF is the last option to consider.

How To Get A Home Loan

Every individual shares a dream that he or she should have their own house. But in today’s world, it is not an easy task to buy a home. Due to technological improvement, the real estate industries are booming. As a result the price of the homes is also increasing day by day.

Get A Home Loan

By this it is very difficult for a common man to buy a house. So for this many financial institutions are offering home loan facility to people. Getting a home loan is not an easy task. Lots of documents are required for this. But these financial institutions are always there to help people in getting loan. These loans are useful to everyone in many ways. These loans are helpful for landlords, tenants, government employees, business man and many more. Approval for home loans doesn’t take so much time. If you have every document with you then your loan can be sanctioned in an hour or a day.

If you also want to raise your credit ranking rating background of previous periods by indicates of a bad credit ranking score loans, then it is certainly a very fantastic concept. It is so because although a person can acquire loans with decreased credits but he needs to pay a very high amount of fascination in most of the cases. Hence, it is better to improve the money ranking score to create sure easily accessible of loans with low cost of fascination in the long run.

If that’s the situation, then it’s time for you to wake up and scent the money – viewing that a bad credit ranking score loans have a lot of impactful financial classes to display all of us. Tenants require not keep apart difficult money for the house financial loan deposit as the inadequate credit ranking financial loan takes treatment of it. Tenants discover on their own relieved, when they buy a bad credit ranking score financial loan.

When it arrives to financing the buy of your house unless you are very wealthy you will need a home loan. The price of your home loan is straight associated to the fascination amount you will pay on your house financial loan. In general, the worse you credit ranking rating is, the much more fascination you will invest each 30 days. As an outcome the best thing you can do to help you buy a house is to restore your credit ranking rating right away. Unfortunately it is not an immediate factor to do but instead is a procedure that can take something from twice to a few months.

Nevertheless, there are a section of financial lenders who charge reasonably reduce attention levels on individual loans. Using a financial loan is not a trivial matter as they are financial loans. It puts an important asset in stake. It also impacts the finances of the borrower prior to the lender. That’s why you should create a correct lookup for the financial loan precedence. Today looking has turn out to be a lot easier with the power of details technologies.