What is a UAN Number?

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The Universal Account Number (UAN) is a unique identifier given to every employee who is a part of the Employees’ Provident Fund (EPF) in India. For the uninitiated, EPF is a retirement savings scheme where both the employee and employer contribute a portion of the salary each month. The UAN is a crucial number that helps…

How to Check Income Tax Filing Status?

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Filing an Income Tax Return (ITR) is the responsibility of every eligible taxpayer. When you file your ITR, your return goes through multiple stages of verification. You must check if your return is successfully submitted, processed, and validated by the Income Tax Department. If there are errors in your submission, such as missing documents or…

How To Update IFSC Code In EPFO?

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Keeping your banking information updated adds a layer of convenience to your dealings. There are many critical banking details which change as per time and place, one of them being the Indian Financial System Code (IFSC). Updating these details updated with your various financial accounts is important. This is especially true when it comes to…

What Is On-Realisation Settlement Proposed by RBI’s MPC?

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The Reserve Bank of India (RBI), through its Monetary Policy Committee (MPC), has proposed a major shift in cheque clearance called On-Realisation Settlement. This new system aims to reduce cheque clearing time. This will make funds available within hours instead of the traditional two to three days. This initiative will not only make financial transactions…

Should You Use a Current Account for Personal Expenses? Pros & Cons Explained

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Let’s face it — managing money can get tricky, especially if you’re juggling personal expenses and business transactions at the same time. If you already have a current account for your business, it’s tempting to swipe the same debit card for everything — client lunches, groceries, online shopping, you name it. It feels convenient, sure….