Jan 16, 2016 12:59 PM
52027 Views
They are cheater. And mostly people stuck in their scheme by someone known. And it generally happens with new comers . Their victims used to think they are saving their income tax but instead of saving they lose more money in their schemes. Same thing happens with me.
Earlier I was planning to invest less amount. But my Agent( One of my friend's friend) insisted and changed my mind by saying if you invest 60k annually company will give you microwave in gift which I never got from them.I invested in Bharti AXA Merit plus scheme.
There was mistake from my side as well. I should have understood their scheme before investing. But agent used to explain their policy very cleaverly and they generally talk about their returns(Generally more than 10% annualy) . They didn't talk about their charges. In my plan they charged me 30k first year, 15k 2nd and 3rd year. After investing 1, 80, 000 my investement value was around 1, 30, 000. Later I stopped paying them and after 5th year I withdrew my money and I got less than what I have invested.
They used to take their charges in first 3 year instead of taking some fixed amount through out the plan.
I would suggest, It is better to pay income tax then investing in their plan or blindly invest in Provident Funds.
