Author: Ansh Mangla

Provident Fund contributions (PF) are a crucial aspect of an employee’s salary, aimed at providing essential social security and retirement benefits through the Employees’ Provident Fund Organization (EPFO). Mandatory Contributions Organizations with 20 or more employees must register under the EPF Act and contribute to the employees’ PF accounts. Both employees and employers are required to make contributions to the employee’s PF account. How to Check if PF Contributions Are Credited To verify if your PF has been credited by your employer, follow these steps: What to Do if PF is Not Credited If an employer fails to credit the…

The global financial environment is vast and complex, with countless entities engaged in numerous transactions. To ensure transparency and mitigate risks within this complexity, it is essential to accurately identify and differentiate each participant. Enter the Legal Entity Identifier (LEI), a groundbreaking mechanism designed to provide each legal entity involved in financial transactions with a unique identity. Developed in response to the 2008 financial crisis, the LEI system aims to enhance the transparency, efficiency, and security of the global economic system. This article explores the meaning of the LEI Code, the registration process, and its benefits. What is the Legal…

Section 43B of the Income Tax Act is a crucial provision that governs the deduction of certain expenses for businesses and individuals, setting forth conditions for claiming these deductions. Here’s a detailed look at its various aspects. What is Section 43B of the Income Tax Act? Section 43B outlines specific expenses that are deductible, provided certain conditions are met. These expenses include: Conditions for Claiming Deductions under Section 43B To claim deductions under Section 43B, the following conditions must be met: Effect of Section 43B on Tax Liability Section 43B significantly impacts the tax liability of businesses and individuals. For…

Vraj Iron and Steel’s initial public offering (IPO) garnered significant investor interest by the closing day of bidding on June 28. The Rs 171-crore IPO received bids for 12.2 crore equity shares, which was nearly 20 times higher than the offer size of 61.4 lakh equity shares, as per data from exchanges. This IPO comprises solely of a fresh issue with no offer-for-sale component, ensuring that all proceeds will directly benefit the company. Non-institutional investors led the charge, oversubscribing their quota by 40 times, while retail investors followed closely with a subscription of 22 times their reserved portion. Qualified institutional…

Bharti Airtel, India’s second-largest telecom operator, has announced a mobile tariff increase of 10-21%, following a similar move by Reliance Jio. The revised tariffs, effective from July 3, 2024, will see “very modest” price hikes, amounting to less than 70 paise per day on entry-level plans. The telecom firm emphasized the need for Average Revenue Per User (ARPU) to surpass Rs 300 to sustain the financial health of telecom businesses in India. Bharti Airtel welcomed the industry-wide initiative to adjust tariffs, citing it as essential for making substantial investments in network technology and spectrum while ensuring a modest return on…

Bharat Heavy Electricals Limited (BHEL) saw a 4% increase in its share price, reaching ₹308, following the announcement of securing a major ₹13,300 crore contract to build a 1600 MW thermal power plant in Koderma, Jharkhand. The company’s strategic focus on the defense sector has also yielded substantial orders, including contracts for Vande Bharat trains and air defense systems. This development underscores BHEL’s continued expansion within the energy and infrastructure domains.

Stock Market trending Stocks HCL Technologies:HCL Technologies is set to sell a 0.46% equity stake worth Rs 1,757 crore in a block deal on June 28, according to CNBC-TV18 sources. The floor price for the deal is expected to be Rs 1,414.9 per share, reflecting a 2.75% discount to the current market price. Samhi Hotels:Several significant transactions were reported in Samhi Hotels after hours. Gopikishan Shivkishan Damani sold 8.1% of shares at an average price of Rs 265.1 per share, while Radhakishan Shivkishan Damani exited the company by selling 11.34% at an average of Rs 265.05 per share. Kiran Devi…

Bansal Wire Industries is set to debut on Dalal Street with a Rs 745-crore initial public offering (IPO) on July 3, with the price band to be announced on June 28. This marks the second public issue opening in July, following Emcure Pharmaceuticals. The IPO, comprising solely a fresh issue by the Delhi-based company, will close on July 5, while the anchor book will open on July 2. Bansal Wire Industries, which manufactures steel wires, operates through four established facilities in the National Capital Region—three in Ghaziabad (UP) and one in Bahadurgarh (Haryana). The company operates in three segments: high…

India showcased their abundant talent with a dominant performance, storming into the T20 World Cup final by defeating England with a 68-run victory in the semi-final on Thursday. Leading the charge was skipper Rohit Sharma, who scored an aggressive 57 off 39 balls. He was well-supported by Suryakumar Yadav, who contributed 47 off 36, as India posted 171 for seven after being asked to bat first in the rain-affected match. England, in response, were bowled out for 103 in 16.4 overs, setting up a title clash between India and first-time finalists South Africa in Barbados on Saturday. This marks India’s…

According to a report by Moneycontrol, the promoter group and family members of Polycab India, a provider of electrical solutions, plan to sell a 2.04 percent stake in the company via a block deal, potentially raising up to $257 million at the upper end of the price range. The block deal, advised by investment bank Jefferies, is being viewed as a liquidity event for the promoter group. Currently, the promoter group holds a 65.24 percent stake in Polycab India, as per exchange filings. The company’s share price has increased by 28.73 percent over the past six months. The offer price…