The scheme is also called the Voluntary Retirement Fund scheme. The scheme does not include the mandatory 12% that the employee makes towards the Employees’ Provident Fund (EPF). Employees can contribute up to 100% of their basic salary and dearness allowance towards the scheme.
Keeping this in consideration, what is Meezan Bank investment plan?
Meezan Asset Allocation Plan-I (MAAP-I), is an investment plan based on the existing Meezan Financial Planning Fund of Fund (MFPF). Based on the Fund Manager’s outlook on asset classes, the allocation plan will actively allocate its portfolio between the Equity Schemes and Fixed Income/Money Market Schemes.
Subsequently, how do I invest in Meezan Investments?
Fill out the appropriate application
- Investment Application Form (Applicable for All funds including Meezan Tahaffuz Pension Fund & Meezan Mahana Kharch Account (MMKA)
- Saving Plans and Meezan Indus Hospital Support Plan based on Meezan Financial Planning Fund of Funds.
Can I invest more than 1.5 lakhs in VPF?
Your investment towards the VPF earns a fixed interest as specified by the Government. Your contributions are eligible for a tax deduction under Section 80C of the income tax act up to Rs 1.5 Lakhs a year. If you invest more than this (EPF + VPF + other eligible Section 80C investments), there are no tax benefits.
What is the rule of voluntary retirement?
Voluntary retirement-(a) A Government Servant who has attained the age of fifty years or who has completed twenty years of qualifying service may retire from service by giving notice of not less than three months in writing direct to the appointing authority with a copy marked to his immediate superior officer for …
What is best monthly income scheme?
Post Office Monthly Income Scheme (POMIS) is an investment offered by India Post. It is an excellent investment option for risk-averse investors who are looking for constant regular income as it enjoys government-backing. The POMIS is currently offering interest at the rate of 6.6% per annum, payable monthly.
What is the best saving plan?
Personal Provident Fund (PPF): As the safest and most popular investment option in India, PPF is a government-backed long-term saving scheme that is tax-free. The amount of money deposited in PPF is available as deduction under section 80C of Income Tax Act; and the interest earned on PPF is also not taxable.
Is Meezan Bank profit is halal?
Truly Halal and Absolutely Riba-Free!
The Certificate of Islamic Investment (COII) is a Mudarabah-based deposit product through which you can invest your savings for periods ranging from 3 months to 1 year and earn Halal profit on a periodic basis.
How much is Pakistan pension?
Old-age pension: 2% of the insured’s average monthly earnings in the last 12 months multiplied by the number of years of covered employment is paid. The minimum old-age pension is 3,600 rupees a month.
How do I redeem my pension contributions?
How to withdraw EPS?
- Activate your UAN (Universal Account Number)
- Fill your bank account details and your Aadhar card number on the UAN portal.
- Submit a filled Form 11 (new) to your employer.
- Submit a filled Composite Claim Form (Aadhar) to the concerned EPFO office along with a cancelled cheque.
Who can invest in pension funds?
All citizens and state/ central government employees falling between the age brackets of 18 to 60 years are eligible for investing in the National Pension Scheme.
Is Al Meezan investment safe?
Meezan Islamic Income Fund is ideal for investors who wish to earn a safe and stable stream of Halal income on their investments and generate superior long term risk adjusted returns.
Is Meezan bank interest free?
The Premier Islamic Bank – Meezan Bank, Pakistan’s first and largest Islamic bank that offers a range of Shariah-compliant products and services to cater your financial needs. … Easy Home – Islamic House Finance is a completely interest (Riba) free solution to your home financing needs.
How do you withdraw money from Meezan Investments?
Withdrawing (redeeming) your money
- Make this transaction online with Online – Member Services Area.
- Make this transaction online with Online – MBL Internet Banking Facility.
- Withdrawing amount through ATM Facility.
- Or you can fill out the Redemption of Units Form.