This facility available for 11 Reliance Mutual Fund schemes
Mumbai: Reliance Mutual Fund has introduced Reliance Salary Advantage Facility which will be available in 11 schemes with effect from October 10, 2011. The scheme includes Reliance Money Manager Fund, Reliance Short Term Fund, Reliance Gilt Securities Fund, Reliance Liquidity Fund, Reliance Liquid Fund – Cash Plan, Reliance Index Fund – Nifty Plan, Reliance Index Fund – Sensex Plan, Reliance Small Cap Fund, Reliance Infrastructure Fund, Reliance Arbitrage Advantage Fund, Reliance Natural Resources Fund and Reliance Long Term Equity Fund
This facility is for employers. They can enter into an agreement with Reliance MF to deduct desired amount from the salary of the employees and remit the same to Reliance MF through a consolidated Cheque/fund transfer/debit instruction. Subsequently monthly/quarterly deductions will happen each month/quarter on the specified date.