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Insurance Company
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IndiaFirst Life Insurance Company Ltd
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Plan Name
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IndiaFirst Retirement Benefit Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Retirement Plan
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UIN No.
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143N016V01
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About Plan
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Our IndiaFirst Retirement Benefit Plan helps you to invest the funds set aside towards your member's retirement benefits such as Gratuity, Superannuation and Leave Encashment. With the IndiaFirst Retirement Benefit Plan, you can now ensure that your members receive the right benefits for all their hard work.
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Minimum Entry Age
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18 years
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Benefits
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| Particulars | Description |
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Retirement Benefit
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The accrued gratuity or leave encashment beneft as per the scheme rules of the employer. The lump sum amount towards the Pension benefit will be payable as per the scheme rules of te master policyholder.
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Tax Benefits
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| Section | Description |
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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You, the Master PolicyholderYou may now manager your member's retirement liabilities through a transparent and value for money plan.
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Gratuity: You may choose to cover the gratuity benefit of all your members. Your contribution is a deductible business expense.
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Gratuity benefits are tax free up to Rs.1000000 in the hands of the member. Any death benefit under group insurance is tax exempt under section 10(10D) of the Income Tax Act 1961. You have to form a trust to get the tax rebate.
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