Personal Financial Literacy Series by ASTO Vadodara

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Dear All 

On behalf of team ASTO Vadodara I sincerely thank all the participants for their cooperation and making the interactive session a success. Most of the ONGCians are experts in their respective domain but when it comes to managing personal finance, lack of personal time and appropriate inputs hampers their efforts. In an endeavour towards promoting Financial literacy the topics relevant to every employee are chosen. Tax efficient salary is right of every employee and ASTO is putting all the efforts in this regards. Salary can be restructured to make it more tax efficient through various cafeteria options like Food Coupons in lieu of salary, Newspaper allowance etc. In this regard representation from President ASTO, Vadodara has already been sent to CMD & Director Finance. NPS is a good option for generation of tax efficient cash flow and retirement corpus. 

    Your ASTO Vadodara is committed to empower all the members with relevant knowledge. First event of this Series was organised at Officers Club on 6th of June 2019 to address the issues of Taxation, ITR forms, NPS, EPS etc. Now, ONGC management has agreed to allow all the beneficiaries to opt for both PRBS as well as NPS and divert fund from PRBS to NPS, if the employee chooses to do so. To address the dilemma of PRBS vis a vis NPS and other Investment avenues the session, 2nd in the series, was organised on 22nd December 2019 at Hotel Grand Mercure. Many geoscientists of WON Basin missed the program due to official engagements. For them we can arrange a separate session if they desire. More workshops will be organised on this topic (including with POP of NPS) once the modalities and official orders are available. 

The positive feedback of participants encourages us to organise more of such events of general interest. Many good suggestions were received in feedback. All the suggestions by participants are very well taken. ASTO Vadodara is in the process of organising more activities based on your valued suggestions. I believe that only a participative and collaborative association can go a long way. We organised a workshop on Stress Management on 27th January 2019 in association with The Art of Living Foundation at Officers Club. After all, Wealth without Health makes no sense. As suggested by many, session on ONGC policies will also be planned in future. 
    I once again thank you all for your support and cooperation in making the event a success. We look forward to serve the cause and meet your expectations. 

Puneet Saxena
President ASTO

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