Rule Change From 1 April: Only a few days are left for the new financial year to start. With every new financial year, many new rules come into force, which impact the pockets of the general public. Many such rules are going to be implemented from April 1st. This includes rules related to EPFO, Fastag and SBI credit card.
EPFO
A new rule can be implemented by the Employees Provident Fund Organization (EPFO) from April 1. Under this new rule, as soon as the EPF account holder changes his job. With that his old PF balance will be transferred to the new account. The advantage of this will be that after changing jobs, you will not need to transfer your old PF balance to the new account. This will become automatic.
NPS
There is going to be a big change in the log-in process of National Pension System (NPS) from April 1. Two-factor authentication is being implemented by PFRDA from next month. After this, any NPS holder will be able to login to NPS only through Aadhaar based OTP.
New Tax Regime
The new tax regime is going to be implemented as the default tax regime from April 1, 2024. This means that if you do not select the old tax regime while filing taxes, then the new tax regime will automatically be selected from April 1.
SBI Credit Card
A major change has been made in the credit card rules by SBI Card. Under the new rule, now reward points will not be available on payment of fare through all SBI credit cards. This change is going to be implemented in some credit cards from April 1, 2024 and in some credit cards from April 15, 2024.
Fastag
The rules of Fastag are also going to change from April 1. If you have not completed the KYC process of your Fastag by March 31, 2024, then your Fastag will stop working from April 1.
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