Posts Tagged ‘salary’

Popular myths & wrong notions about NRI’s

July 26, 2013

There are many myths about NRI’s & immigrants amongst the general population. Most of them are based on assumptions, stereotypes & uninformed perceptions. There are many reasons why foreign citizens immigrate to other nations but a raise in the standard of living is a desire that most have.

This is our attempt to bust myths for the enlightenment of the general public.

Myth 1: NRI’s do not pay taxes

All immigrants pay taxes. They range from property to sales tax. Even undocumented immigrants pay income taxes.

Myth 2: NRI’s slog it out day & night & then send all their earning back to their home country, causing the host nation’s economy a loss.

There is great dissension in a given company where one national is irritated that an NRI works overtime & raises the bar at the workplace, thus causing undue competition. He works extra, earns extra & later collects a hefty sum to send to India. There is no doubt that immigrants send their earning to their families back to their home country. But they do so in addition to their expenditure as an immigrant in the foreign country. Their business contributes $162 billion in tax revenue to U.S federal, state & local governments.

Myth 3: Job opportunities for Americans are taken away by NRIs & other immigrants.

There are various American citizens today who started off as immigrants in the host country & today have reached a position where they are creating jobs for the public- Americans & immigrants alike. The truth is, jobs are created as well US as well as foreign workers by immigrant entrepreneurs. They posses a skill which help them thrive in competition. This does not mean that jobs are stolen, they are simply achieved on the basis of merit.

Are there any other popular myths you know of & would like to bring to our attention? What is your view on the topic listed above?

To know more about NRI Money Transfer and other online banking services you can also visit our website.

Father’s Day

June 16, 2012

Fathers and sons often have complex relationships. I’m not entirely sure why, but I suppose it’s because both parties involved are men. And as men, most of us are an un-expressive lot. It was no different with my father and I growing up. Of course, like any child, I too idolized him. He was my one and only true-life hero. Sure, like other kids, I too loved superman and he-man, but dad was real. He was my hero. A highly decorated officer in the Indian Armed Forces, he was literally and figuratively, the model man – strong, principled and a high achiever.

Unlike many people from the generation of our parents that were in the armed forces, my father was keen that I too serve the country. But that was not to be. And that, I deduced, was the first big let-down for him. Again, it wasn’t something he articulated, but I could tell. I just knew. Because every other avenue I discussed thereafter, my father’s demeanor became rather hopeless and apathetic. Again, he never discouraged me, but I could tell he had serious doubts about my future. We don’t come from the most intellectual or erudite lineage and hence his aspersions about my academic leanings were understandable. But we both soldiered on anyway.

Last year, I completed my MBA from a middle-of-the-rung school in the USA. And in a rather bleak job environment, and much to my own and everyone’s surprise, I managed to talk my way into a good job at a bank in London! And there I finally had my opportunity. An opportunity to prove once and for all to my dear dear dad, that I had made something of myself. While he enjoyed a quiet retirement back in Noida, he had little inkling of what awaited him. And pat on father’s day, I fast remitted my first salary to him.

For really the first time in many years, there was a tangible pride in my father’s voice as he congratulated me upon receiving the money. Of course, being a man, he cloaked his excitement as much as he could, even said he did not need the money. But beneath it all, the tone of his voice gave it away. I had made my old man back home in India finally proud of me. The best father’s day ever, for both the father and the son!

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