Glow Wisdom's Pension Yojana
We noticed that in private sector, there is no pension provided to employees. At the maximum PF is there which can provide them at their later stage. Though company contributes in PF @ 12% of basic salary, employee also has to contribute the same amount. Now if a persion is earning Rs 25,000 per month with a basic salary of Rs 5,000, total amount saved = Rs 1,200 p.m. Thus total percentage of income saved for future = 4.8% of Net Income that too company contributes only 2.4% along with employee's contribution of 2.4%. Hence if < 5% is saved for future with half amount contributed by employee, anybody can easily understand that lifestyle of the employee might go down after retirement when actually more income is needed to meet medical expenses that may arise.
With the concern on people wellfare, Glow Wisdom has come up with a Pension Yojana. Glow Wisdom offers minimum 20% of its product value to those selling the product. If a persons sells approximately 4 copies of 2 different products, he/she would have crossed a sales score of Rs 1,25,000 by working at own desired flexible hours. He/she will get minimum of Rs 25,000. Additionally Glow Wisdom will give 5% of sales amount as pension yojana fund, which totals to Rs 7,500. We will not ask employee to contribute in this fund. The Glow WIsdom Pension Yajana fund amount will be given to employee which must be strictily invested in LIC / mutual funds for long term. As per above calculation, Glow Wisdom contributes 20% of ones monthly income for his/her future pension without deducting any amount from them.
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