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Showing posts from September, 2011

Employees cannot refuse official accommodation to claim HRA : Mumbai HC

The HC has ruled that house rent allowance (HRA) is not a right. A division bench of Justice B P Dharmadhikari and Justice A P Bhangale ruled that a government employee not staying in the quarters despite its availability can be disentitled from claiming the special allowance. The Nagpur has surplus government accommodation. It is one of the few cities where the central government employee, w....

Know the EMI

Home loan, Car loan... Lot of loans to avail. Lot of advertising about the EMI rates. But how much have you understood about the EMI? - its equated monthly installment, EMI. So what is this EMI and how is it calculated?
What is an EMI?
The EMI stands for equated monthly installment, or the EMI, is the amount of money we have to pay month;y to the bank or the to the lender towards clearing the loan.
EMI payments are made every month, for the entire tenure of the loan, till the outstanding amount is completely repaid.
EMI break-up
The EMI that we pay are broken in compone…Read more here