Technodealz - Technology Updates & News

  Permanent Account Number or PAN Card has become a very important document today. It is needed everywhere from availing financial services to filing income tax returns. Without PAN you cannot even open an ordinary bank account. Investment in any financial sector cannot be done without it. In such a situation, if someone loses important documents like PAN card, then there can be a lot of problem. But there is nothing to be worried about. Electronic PAN card or e-PAN card will solve this problem. Most of the financial institutions accept e-PAN card. You can carry e-PAN card in your phone and it is also very convenient. Instead of filling a two page form (PAN Card Form), you can apply online for a new PAN card in just 10 minutes. For this, you need to complete your Aadhaar and e-KYC process. PAN card is a 10 digit alphanumeric number issued by the Income Tax Department. On the other hand, e-PAN is a virtual PAN card that can be used for e-verification anywhere if required. Easy steps...

  WhatsApp is reportedly working on bringing multi-device support to phones. Currently, users need to log using browsers if they wish to use the same account on a different phone. The multi-device feature support has been spotted on the app’s latest beta version. WhatsApp is reportedly working on a new update that will allow it to finally offer a feature that has been available on Telegram for years. A new update is expected to bring multi-device support to phones. WhatsApp has had multi-device support for some time now but the app allowed users to log in only on desktops, leaving users who wished to use the same account on different mobiles empty handed. According to a WaBetaInfo report, WhatsApp is working on a new update that will change this. WhatsApp is working on bringing multi-device support to phones, which will enable you to use the same account on different phones. WhatsApp companion device WhatsApp will reportedly name the new feature as a companion device...

  Among the prominent takeaway from the the new wage code –once implemented — is its impact on working hours, salary restructuring and PF contribution, encashing of Earned Leaves among the prominent ones.  New Delhi: The four labour regulations on labour codes on wages, social security, industrial relations and occupation safety, health and working conditions might be adopted from July 1, several media reports have stated. Among the prominent takeaway from the the new wage code –once implemented — is its impact on working hours, salary restructuring and PF contribution, encashing of Earned Leaves among the prominent ones.   Media reports say that at least 23 states have pre-published draft rules on these laws, while the Centre has completed the process of finalising the draft rules on these codes in February 2021. The central government has notified four labour codes, namely, the Code on Wages, 2019, on August 8, 2019, and the Industrial Relations Code, 2020, the Cod...

  Leave encashment tax calculation:  Accumulated leave can either be encashed during service or at the time of retirement or resignation. Any leave encashed during service is fully taxable and forms part of ‘income from Salary’. However, relief under Section 89 can be claimed. Leave encashment received at the time of retirement / resignation is fully exempt for Central or State Government employee. Leave encashment received by Non-Government employee is exempt to the extent of lower of the following: Amount notified by the Government- Rs 3 lakh Actual leave encashment amount  Average salary of last 10 months  Salary per day x unutilised leave (considering maximum 30 days leave per year) for every year of completed service Salary referred above includes basic salary, dearness allowance and commission based on fixed percentage of turnover secured by employee For instance, Gopal resigns from company XYZ. His monthly salary is Rs. 1.5 lakh. He was entitled to 30 days lea...

  Several small finance banks and new private banks are offering interest rates of up to 7.5 percent on three-year FDs for senior citizens as per data compiled by BankBazaar.  Senior citizens can invest a part of their savings in these fixed deposits in order to get maximum returns.   Here’s the list of banks that offer the best interest rates on three-year FDs for senior citizens. Suryoday Small Finance Bank Among small finance banks, this bank offers the best interest rates of 7.50 percent on three-year FDs for senior citizens. That means a sum of Rs 1 lakh invested grows to Rs 1.25 lakh in three years. Ujjivan Small Finance Bank It offers 7.40 percent interest in three-year FDs for senior citizens. Rs 1 lakh invested grows to Rs 1.25 lakh in three years.  AU Small Finance Bank This bank offers 7.25 percent interest in three-year FDs for senior citizens. Rs 1 lakh invested grows to Rs 1.24 lakh in three years. Bandhan Bank, IndusInd Bank, Yes Bank and Equitas ...

  The Reserve Bank of India has announced new guidelines for issuance of credit and debit cards, as well as directions to issuing agencies for the same. The new rules announced by Central Bank will come into effect from 1 July this year. According to the new rules, card-issuers have to honour any request for closure of a credit card within seven working days. Failing that, the issuer will have to pay a penalty of Rs 500 per day to the card holder till the card is closed, provided there are no outstanding dues in the account. Further guidelines have also been issued about interest rates, debit cards and closure of such cards. RBI’s new guidelines for credit card: The card-issuer must remember that “issue of unsolicited cards/upgradation is strictly prohibited”. In case a credit card provider upgrades an existing card or activates an unsolicited card without the customer’s permission, and bills them for the same, the issuers will have to withdraw the facility. The will also have to p...

  The month of May will start from 8 days from today and people who go to banks should know that banks will remain closed for 10 days in that month. Besides national holidays, there are certain state-specific holidays, which include all Sundays and the second and fourth Saturdays of the month. New Delhi: Every year, the Reserve Bank of India (RBI) releases a holiday calendar that specifies which particular dates banks across the country stay closed. Banks will be closed for four consecutive days at the start of the month in May, according to the RBI holiday calendar. These holidays may also differ from state to state because they are based on state-specific celebrations. The Reserve Bank of India (RBI) determines bank holidays in four categories: Negotiable Instruments Act, Holidays, Real-Time Gross Settlement Holiday, and Banks’ Closing of Accounts, according to a report. Apart from national holidays, there are certain state-specific holidays, which include all Sundays as wel...

  Once implemented, the new wage code will impact working hours, salary restructuring and PF contribution, encashing of Earned Leaves among the prominent ones. New Delhi: The four labour codes on wages, social security, industrial relations and occupation safety, health and working conditions are likely to be implemented from July 1, several media reports have quoted. Once implemented, the new wage code will impact working hours, salary restructuring and PF contribution, encashing of Earned Leaves among the prominent ones. As per reports at least 23 states have pre-published draft rules on these laws, while the Centre has completed the process of finalising the draft rules on these codes in February 2021. The central government has notified four labour codes, namely, the Code on Wages, 2019, on August 8, 2019, and the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 on September 29, 2020. Since...

  With the increase in the number of vehicles on the roads, the number of accidents and fatalities are on the rise. To reduce the incidents of traffic violations that often result in accidents, many stringent steps have been taken recently. Apart from imposing heavy fines on violations of traffic rules, as per the direction of court, rules for insurance claims have also been changed and the new rules will be implemented by the insurance companies and the transport departments with effect from April 1, 2022. As per the new rules, the following mistakes would make you ineligible for making any insurance claims or getting any insurance benefits: OVERLOADING No insurance cover will be available if the number of passengers travelling by auto and two-wheelers exceeds the permitted numbers. RIDING WITHOUT HELMET No insurance cover will be available to persons riding two wheelers without wearing a helmet. DRIVING ON WRONG SIDE Not only will any compensation be given to the people driving t...

  As the world celebrates Earth Day 2022, we list down all the electric cars you can buy in India under Rs 25 lakh, from Tata to Hyundai and MG.  Every year on April 22, the world celebrates the Earth Day, signifying the actions taken by us to reverse the climate change and save the environment. Vehicular pollution is considered a major challenge in combating pollution globally and the governments across the globe are striving hard to reduce this pollution. Electric Vehicles are one such category that has been promoted to replace the conventional ICE-engined vehicles to reduce pollution. While many countries, especially in the Europe and China have moved a long way in incluindg EVs in mainstream transportation, India is slowly adopting this trend as well. In a country like India, where money the foremost consideration before buying any vehicle, it’s essential for automakers to launch affordable EVs to further push the penetration. From only one affordable EV to a handful of th...

  From free insurance to partial withdrawal to loan facility, know these 5 benefits of PF account. New Delhi: Provident Fund is a long term savings scheme that comes with several additional benefits for the subscribers. While the savings scheme is a good cushion for your future, it also has various perks for the salaried person. HERE ARE 5 BENEFITS OF EPF FUNDS THAT EVERY SALARIED PERSON MUST KNOW. Employees’ Deposit Linked Insurance Scheme (EDLI) A PF subscriber can avail benefits of free insurance up to Rs 7 lakh in case of death during the service period under EDLI scheme. In May, the insurance benefits under the EDLI scheme were enhanced and liberalized. Amount of maximum insurance benefit has been increased from Rs 6 lakh to Rs 7 lakh. Pension Scheme for EPF account holder An EPF Account holder is also entitled to lifelong pension scheme under Pension Scheme 1995 (EPS). As regards Employees’ Pension Scheme (EPS), 1995, a minimum pension of Rs. 1,0...

  Reliance Jio has announced six new JioFiber plans for existing and new postpaid subscribers. The plans start at Rs 399 and go up to Rs 3,999. Users who opt for any of these plans will be eligible for a free set-top box and home installation. All six plans for users will be available starting April 22. The new JioFiber postpaid plans are worth Rs 399, Rs 699, Rs 999, Rs 1499, Rs 2499, and Rs 3999. These plans will be listed on the official website and MyJio app once they go live later this week. Jio also announced plans that will offer up to 14 entertainment platforms at Rs 100 – Rs 200 extra. These entertainment apps include Disney+ Hotstar, Zee5, Sonyliv, Voot, Sunnxt, Discovery+, Hoichoi, Altbalaji, Eros Now, Lionsgate, ShemarooMe, Universal+, Voot Kids, and JioCinema. Jio is calling these plans — entertainment and entertainment plus. Customers who opt for any of these new JioFiber postpaid plans will also get a free gateway router, set-top box, and installation worth over Rs 1...

  The market timing for various markets has been revised by the Reserve Bank of India (RBI). The new rule will come into effect from April 18. New Delhi:  The Reserve Bank of India (RBI) on Monday announced that restored the pre-pandemic trading timings in RBI-regulated markets, which includes the money market. From today (April 18) onwards, trading in markets regulated by the RBI will start from 9 am and end at 3.30 pm, the central bank said in a release on Monday. Until today, the markets have been open at 10 am. This change in trade timings will give bank customers an extra hour to get their work done. However, no change has been made in the closing time of banks. With the substantial easing of restrictions on movement of people and functioning of offices, it has now been decided to restore the opening time for regulated financial markets to their pre-pandemic timing of 9 am,” the release said. “The trading hours for various markets regulated by the Reserve Bank were amende...

  The Centre has begun the process for issuing e-passports for all citizens and is selecting an agency that will set up the IT infrastructure to implement the project, according to an Economic Times report. Indian citizens are likely to start getting e-passports starting 2021. Currently, passports issued to Indian citizens are printed on booklets. India had issued 20,000 official and diplomatic e-passports on a trial basis with an electronic microprocessor chip embedded in them. The move is to make forgery of passports difficult and to help faster immigration for passengers. These e-passports will be based on the International Civil Aviation Organization (ICAO) standards. All 36 passport offices in India will issue e-passports after the components of the personalisation system are inducted in the existing issuance system, the ET report suggested. The agency set up will have a dedicated unit for preparing personalised e-passports that will allow issuance of 10,000-20,000 p...

  Bank Fixed Deposits:  Several banks, in both private and public sectors, have been hiking their fixed deposit interest rates for quite some time now. Recently, private sector banks, including HDFC Bank, Axis Bank and Kotak Mahindra Bank have hiked their interest rates on fixed deposits of various tenures and across different amounts of deposits. Fixed Deposit schemes have been the most preferred form of investment for Indian investors. FDs offer a stable and guaranteed rate of return. Here, we list some of the banks that have hiked their fixed deposit interest rates recently, so that you can compare and invest in them. Axis Bank Fixed Deposit Rates (For Deposits Above Rs 2 Crore) 7 days to 14 days: 3.05 per cent for General Public; 3.05 per cent for Senior Citizens 15 days to 29 days: 3.05 per cent for General Public; 3.05 per cent for Senior Citizens 30 days to 45 days: 3.2 per cent for General Public; 3.2 per cent for Senior Citizens 46 d...