Skip to main content

How NRIs care for elderly in India?

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

Sushanto has been in US for the past decade and half, while his parents back home in Kolkatta have aged beyond the stage where they can look after themselves. Despite repeated pleas by Sushanto, his parents are unwilling to leave their ancestral home in Kolkatta to join him in the US. This presents a problem typical to many NRIs who have left behind elderly parents in India. While leaving a prosperous career abroad to return back may not be a pragmatic solution one cannot ignore the responsibility of ensuring adequate care for the parents. Here are some useful tips to give a life of comfort and dignity to elderly back home in India.

What do elderly in India really need?

Though nothing can ever replace the presence of their children besides them at an elderly age, there are a few other worldly requirements which can be catered for from abroad.

  • Health Care: which includes routine check ups, house calls, in house nursing and specialized care where needed.
  • Financial Security: Adequate money to live a decent lifestyle which may not be catered from the monthly fixed pensions that elderly have to rely upon.
  • Companionship: Includes fellow elderly people and other sources of entertainment and engagement on an ongoing basis.

How to cater for basic requirements in India?

Apart from depending on siblings or other relatives to take care of the elderly in India there are now many professional options which NRIs can opt for. A little portion of their earnings from foreign shores can help their parents lead a comfortable and satisfying life by engaging professional care services in India. Currently there are many established and recognized institutions and organizations which are providing such services to look after the elderly right at the convenience of their own homes. Some of the services that are offered include:

  • Monthly and Quarterly assessment by a Physician.
  • Free on-demand visit by the Physician even without any emergency.
  • Daily/ Weekly visits by nurses as per requirements.
  • Provision of in house nurses for special requirements.
  • Periodic outings and gathering of elderly people from similar backgrounds.
  • Organizing parties and entertainment programs for elderly.
  • Organizing transfer of money, handling of letters and other couriered items and catering to daily household requirements.
  • Organizing functions to celebrate festivals and occasions with the elderly.
  • Establishing and ensuring a regular communication between the NRIs and their parents either through telephone or video chatting via the internet.
  • Provide detailed feedback and reports on the health and other issues of the elderly to their children abroad.
  • Payment of bills, taxes and other recurring expenses. Collection of rents and depositing the same in the designated accounts.
  • Arrangement of security for the elderly residing in their own house.

Note: On an average the charges for such personalized care of elderly in India will cost $ 1000 to $ 1500 per annum excluding the cost of medical expenses which might be incurred.

How to hire a full time nurse for in house care?

Many NRIs also use the option of hiring a qualified nurse to provide round the clock attendance right in their homes itself. This option provides them with a sense of security of having someone at all times to cater for unforeseen eventualities and also deliver specialized medical attention which their parents may require depending on the condition. There are hospitals and foundations who can supply such nurses on request. Usually the general nurses charge about Rs. 400 for a 12 hour shift while specialized nurses cost about Rs. 600 to Rs. 700 for a 12 hour shift. However one needs to verify the following while hiring a nurse to look after elderly people in India especially if there is no one else residing with them.

  • The nurse should have been certified by the Nursing Association of India.
  • The nurse should have a combined experience of training and OJT of at least 3 years prior to being assigned as a personal in house nurse independently.
  • The nurse should ideally be recommended by a hospital or a social welfare agency that is registered.
  • Despite being qualified for the need, the nurse must be verified for his or her antecedents through proper channels.
  • The personal physician of the elderly must have an interview with the nurse to ascertain abilities for undertaking the responsibility before hiring the nurse.
  • The local police authorities must be intimated regarding the employment of any nurse at the house to take care of the elderly there.

Taking care of our elderly parents is one of the most important social as well as personal obligations that most of us are committed to. With a host professional agencies undertaking services for a reasonable price the NRIs now have the chance to ensure the best quality care for their parents back home.

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. ICICI Prudential Tax PlanInvest Online
  2. HDFC TaxSaverInvest Online
  3. DSP BlackRock Tax Saver FundInvest Online
  4. Reliance Tax Saver (ELSS) FundInvest Online
  5. Birla Sun Life Tax Relief '96 Invest Online
  6. IDFC Tax Advantage (ELSS) FundInvest Online
  7. SBI Magnum Tax Gain Scheme 1993Invest Online
  8. Sundaram Tax SaverInvest Online
  9. Edelweiss ELSS Invest Online

------------------

Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds Invest Online
      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    1. Mid and SmallCap Funds Invest Online
      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    1. Small and MicroCap Funds Invest Online
      1. DSP BlackRock MicroCap Fund
    1. Sector Funds Invest Online
      1. Reliance Banking Fund
      2. Reliance Banking Fund
    1. Tax Saver MutualFundsInvest Online
      1. ICICI Prudential Tax Plan
      2. HDFC Taxsaver
      3. DSP BlackRock Tax Saver Fund
      4. Reliance Tax Saver (ELSS) Fund
    2. Gold Mutual Funds Invest Online
      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund

Popular posts from this blog

Post Office Deposits Interest Rates

Best SIP Funds to Invest Online   SIPs are Best Investments when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich For further information on Top SIP Mutual Funds contact  Save Tax Get Rich on 94 8300 8300 OR You can write to us at Invest [at] SaveTaxGetRich [dot] Com

HDFC Capital Protection Oriented Fund – Series II 36M May 2014 NFO

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300     HDFC Capital Protection Oriented Fund – Series II 36M May 2014 NFO will be open for subscription from 16th May 2014 to 30th May 2014. The key features of the scheme are as mentioned below:   Type of Scheme A Close Ended Capital Protection Oriented Income Scheme Benchmark Crisil MIP Blended Index Fund Manager Mr. Anil Bamboli , Mr. Vinay R Kulkarni & Mr. Rakesh Vyas New Fund Offer (NFO) Period 16 th May 2014 to 30 th May 2014. Minimum Application Amount Rs. 5000 and in multiples of Rs.10 thereafter Plans/ Options Offered Growth and Dividend Payout Facility Liquidity To be listed For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

How Tax Deducted at Source (TDS) works?

    THE tax season is here. And if you are an employee you can't blame your employer for deducting large chunks of money from your salary towards tax deducted at source ( TDS ), which he is legally obliged to do. Your bank will also deduct some percentage from your FD interest of Rs 10,000 or more towards TDS! So what is this TDS all about? How is it computed? Are there any changes this year? Read on... What is TDS? TDS reduces your taxable income and could even provide tax relief! The TDS collections account for 40 percent of the total taxes collected in the country. As the name suggests TDS is the amount of tax that is deducted at source in certain types of income . The TDS thus collected is deposited in the Government treasury within a specified time. How is it computed? Some of the types of income where TDS is applicable include salary, interest, rental fee, interest on securities, insurance commission, dividends from shares and UTI/Mutual Funds, commission and brokerage

How to PPF Account extension after maturity

A PPF account can be retained after maturity without making any further deposits. The balance will continue to earn interest till it is closed. Public provident fund or PPF remains one of the most popular savings options for the long term despite a gradual decline in interest rates over the years. PPF accounts have a maturity period of 15 years and they can be extended. If there is no fund requirement, financial planners say, PPF account holders should extend the account beyond 15 years. In terms of income tax implications, PPF accounts enjoy the benefit of EEE (exempt-exempt-exempt) status . Under Section 80C, contribution up to Rs 1.5 lakh in a financial year qualifies for income tax deduction. The interest earned and maturity proceeds are also tax free. What are your options when a PPF account matures? 1) A PPF account can be closed after the expiry of 15 financial years from the end of the year in which the account was opened. 2) The subscriber can retain his

Indian Railways Seat Availability and Train Fare Enquiry

Enter the PNR for your train booking to find its status. Your 10 Digit PNR : Are you looking for Indian Railways Seat Availability information for trains between any two Indian Railway stations? Well, here is a detailed guide to find out seat availability and train fare information for journey between any two stations by any train on any chosen journey date. The holiday season is around and Indian all around are busy making Indian Railways Reservation .But before making the reservation, they would like to check berth availability information and here is a detailed step by step guide to check seat availability and train fare. How to check Indian Railways seat availability · 1. Go to the Indian Railways Passenger Reservation Enquiry page to check seat availability by clicking here [link] · 2. Enter the first few characters of the Originating Station against Source Station Name. For eg., if the origination station is chennai, enter "Che" against Sou
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now