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Employee Provident Fund Interest rate ?
Labels:
Provident Fund
Employees' Provident Fund Interest rate:
The rate of interest is fixed by the Central Government in consultation with the Central Board of trustees, Employees' Provident Fund every year during March/April. The interest is credited to the members account on monthly running balance with effect from the last day in each year. The rate of interest for the year 1998-99 has been notified as 12%. The rate of interest for 99-2000 w.e.f. 1.7.'99 was 11% on monthly balances. 2000-2001 CBT recommended 10.25% to be notified by the Government.
Benefits:
A) A member of the provident fund can withdraw full amount at the credit in the fund on retirement from service after attaining the age of 55 year. Full amount in provident fund can also be withdraw by the member under the following circumstance:
A member can withdraw upto 90% of the amount of provident fund at credit after attaining the age of 54 years or within one year before actual retirement on superannuation whichever is later. Claim application in form 19 may be submitted to the concerned Provident Fund Office.
Accumulations of a deceased member:
Amount of Provident Fund at the credit of the deceased member is payable to nominees/ legal heirs. Claim application in form 20 may be submitted to the concerned Provident Fund Office.
Transfer of Provident Fund account:
Transfer of Provident Fund account from one region to other, from Exempted Provident Fund Trust to Unexampled Fund in a region and vice-versa can be done as per Scheme. Transfer Application in form 13 may be submitted to the concerned Provident Fund Office.
Nomination:
The member of Provident Fund shall make a declaration in Form 2, a nomination conferring the right to receive the amount that may stand to the credit in the fund in the event of death. The member may furnish the particulars concerning himself and his family. These particulars furnished by the member of Provident Fund in Form 2 will help the Organization in the building up the data bank for use in event of death of the member.
Annual Statement of account:
As soon as possible and after the close of each period of currency of contribution, annual statements of accounts will de sent to each member through of the factory or other establishment where the member was last employed. The statement of accounts in the fund will show the opening balance at the beginning of the period, amount contribution during the year, the total amount of interest credited at the end of the period or any withdrawal during the period and the closing balance at the end of the period. Member should satisfy themselves as to the correctness f the annual statement of accounts and any error should be brought through employer to the notice of the correctness Provident Fund Office within 6 months of the receipt of the statement.
The rate of interest is fixed by the Central Government in consultation with the Central Board of trustees, Employees' Provident Fund every year during March/April. The interest is credited to the members account on monthly running balance with effect from the last day in each year. The rate of interest for the year 1998-99 has been notified as 12%. The rate of interest for 99-2000 w.e.f. 1.7.'99 was 11% on monthly balances. 2000-2001 CBT recommended 10.25% to be notified by the Government.
Benefits:
A) A member of the provident fund can withdraw full amount at the credit in the fund on retirement from service after attaining the age of 55 year. Full amount in provident fund can also be withdraw by the member under the following circumstance:
· A member who has not attained the age of 55 year at the time of termination of service.
· A member is retired on account of permanent and total disablement due to bodily or mental infirmity.
· On migration from India for permanent settlement abroad or for taking employment abroad.
· In the case of mass or individual retrenchment.
B) In the case of the following contingencies, the payment of provident fund be made after complementing a continuous period of not less than two months immediately preceding the date on which the application for withdrawal is made by the member:· Where employees of close establishment are transferred to other establishment, which is not covered under the Act:
· Where a member is discharged and is given retrenchment compensation under the Industrial Dispute Act, 1947.
A member can withdraw upto 90% of the amount of provident fund at credit after attaining the age of 54 years or within one year before actual retirement on superannuation whichever is later. Claim application in form 19 may be submitted to the concerned Provident Fund Office.
Accumulations of a deceased member:
Amount of Provident Fund at the credit of the deceased member is payable to nominees/ legal heirs. Claim application in form 20 may be submitted to the concerned Provident Fund Office.
Transfer of Provident Fund account:
Transfer of Provident Fund account from one region to other, from Exempted Provident Fund Trust to Unexampled Fund in a region and vice-versa can be done as per Scheme. Transfer Application in form 13 may be submitted to the concerned Provident Fund Office.
Nomination:
The member of Provident Fund shall make a declaration in Form 2, a nomination conferring the right to receive the amount that may stand to the credit in the fund in the event of death. The member may furnish the particulars concerning himself and his family. These particulars furnished by the member of Provident Fund in Form 2 will help the Organization in the building up the data bank for use in event of death of the member.
Annual Statement of account:
As soon as possible and after the close of each period of currency of contribution, annual statements of accounts will de sent to each member through of the factory or other establishment where the member was last employed. The statement of accounts in the fund will show the opening balance at the beginning of the period, amount contribution during the year, the total amount of interest credited at the end of the period or any withdrawal during the period and the closing balance at the end of the period. Member should satisfy themselves as to the correctness f the annual statement of accounts and any error should be brought through employer to the notice of the correctness Provident Fund Office within 6 months of the receipt of the statement.
RE: How Employee Provident Fund works...
Labels:
Provident Fund
Excluded Employee:
"Exclude Employee" as defined under pare 2(f) of the Employees' Provident Fund Scheme means an employee who having been a member of the fund has withdraw the full amount of accumulation in the fund on retirement from service after attaining the age of 55 years; Or An employee, whose pay exceeds Rs. Five Thousand per month at the time, otherwise entitled to become a member of the fund.
"Exclude Employee" as defined under pare 2(f) of the Employees' Provident Fund Scheme means an employee who having been a member of the fund has withdraw the full amount of accumulation in the fund on retirement from service after attaining the age of 55 years; Or An employee, whose pay exceeds Rs. Five Thousand per month at the time, otherwise entitled to become a member of the fund.
Explanation:
'Pay' includes basic wages with dearness allowance, retaining allowance, (if any) and cash value of food concessions admissible thereon.
'Pay' includes basic wages with dearness allowance, retaining allowance, (if any) and cash value of food concessions admissible thereon.
Employee Provident Fund Scheme:
Employees' Provident Fund Scheme takes care of following needs of the members:
(i) Retirement (ii) Medical Care (iii) Housing
(iv) Family obligation (v) Education of Children
(vi) Financing of Insurance Polices
Employees' Provident Fund Scheme takes care of following needs of the members:
(i) Retirement (ii) Medical Care (iii) Housing
(iv) Family obligation (v) Education of Children
(vi) Financing of Insurance Polices
How the Employees' Provident Fund Scheme works:
As per amendment-dated 22.9.1997 in the Act, both the employees and employer contribute to the fund at the rate of 12% of the basic wages, dearness allowance and retaining allowance, if any, payable to employees per month. The rate of contribution is 10% in the case of following establishments:
As per amendment-dated 22.9.1997 in the Act, both the employees and employer contribute to the fund at the rate of 12% of the basic wages, dearness allowance and retaining allowance, if any, payable to employees per month. The rate of contribution is 10% in the case of following establishments:
- Any covered establishment with less then 20 employees, for establishments cover prior to 22.9.97.
- Any sick industrial company as defined in clause (O) of Sub-Section (1) of Section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985 and which has been declared as such by the Board for Industrial and Financial Reconstruction,
- Any establishment which has at the end of any financial year accumulated losses equal to or exceeding its entire net worth and
- Any establishment engaged in manufacturing of (a) jute (b) Breed (d) coir and (e) Guar gum Industries/ Factories. The contribution under the Employees' Provident Fund Scheme by the employee and employer will be as under with effect from 22.9.1997.
How Employee Provident Fund works...
Labels:
Provident Fund
How the Employees' Provident Fund Scheme works:
As per amendment-dated 22.9.1997 in the Act, both the employees and employer contribute to the fund at the rate of 12% of the basic wages, dearness allowance and retaining allowance, if any, payable to employees per month. The rate of contribution is 10% in the case of following establishments:
· Any covered establishment with less then 20 employees, for establishments cover prior to 22.9.97.
· Any sick industrial company as defined in clause (O) of Sub-Section (1) of Section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985 and which has been declared as such by the Board for Industrial and Financial Reconstruction,
· Any establishment which has at the end of any financial year accumulated losses equal to or exceeding its entire net worth and
· Any establishment engaged in manufacturing of (a) jute (b) Breed (d) coir and (e) Guar gum Industries/ Factories. The contribution under the Employees' Provident Fund Scheme by the employee and employer will be as under with effect from 22.9.1997.
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Checking Public Provident Fund (PPF) Status Online
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Provident Fund
PPF or Public Provident Fund is a public growth scheme under which people can contribute a part of their income and claim a income tax rebate. PPF scheme was introduced by the Government of India in 1968 with the aim to include more and more individuals to the scheme and get profit. Public provident fund scheme is normally of 15 years but can be extended for 1 or more terms of 5 years while the individual holds the rights to terminate the PPF funds at any time. Here I have made a small list of FAQs (Frequently Asked Questions) to help you in understanding the PPF system better.
Q. How much can I invest?
Ans : Any Indian individual can invest a minimum of Rs. 500 per annum and up to a maximum of Rs.70000 per annum.
Q. What interest rate will be applied to my investment?
Ans : Indian Government awards a 8% interest rate to your investment, which gets added to your account on 31st March of every financial year. The invest amount is calculated based on the minimum amount that exists in your account between 5th March and 31st of March.
Q. What are the tax benefits?
And : The total interest that you accumulate from your investment on every 31st March will be completely tax free, under section 88 of IT Act. Additionally any amount that is to be credited is also fully exempted from wealth tax.
Q. How can I withdraw money from my PPF account?
And : You may not withdraw any amount from your PPF amount within first 5 years. From the 6th year onwards, you can withdraw money from your account but this is limited to once per year. If your account is 15 or more years old, you can withdraw up to 60% of the balance.
Q. How to check my PPF (Public Provident Fund) account status?
And : You may contact your bank or post office branch to know the current status of your PPF account. If your bank provides online banking, you can request them to link your PPF account to your existing online banking account. Once they merge the accounts, you can view, check your account status and pay PPF loans online.
Q. How much can I invest?
Ans : Any Indian individual can invest a minimum of Rs. 500 per annum and up to a maximum of Rs.70000 per annum.
Q. What interest rate will be applied to my investment?
Ans : Indian Government awards a 8% interest rate to your investment, which gets added to your account on 31st March of every financial year. The invest amount is calculated based on the minimum amount that exists in your account between 5th March and 31st of March.
Q. What are the tax benefits?
And : The total interest that you accumulate from your investment on every 31st March will be completely tax free, under section 88 of IT Act. Additionally any amount that is to be credited is also fully exempted from wealth tax.
Q. Is there any loan facility?
And : Yes, you can take loans from your PPF account but a maximum of 25% of the total balance at the end of 1st financial year from 3rd to 6th year can be taken. You can take as many loans as you want but you need to close any active loans first.Q. How can I withdraw money from my PPF account?
And : You may not withdraw any amount from your PPF amount within first 5 years. From the 6th year onwards, you can withdraw money from your account but this is limited to once per year. If your account is 15 or more years old, you can withdraw up to 60% of the balance.
Q. How to check my PPF (Public Provident Fund) account status?
And : You may contact your bank or post office branch to know the current status of your PPF account. If your bank provides online banking, you can request them to link your PPF account to your existing online banking account. Once they merge the accounts, you can view, check your account status and pay PPF loans online.
http://www.solidblogger.com/check-public-provident-fund-ppf-status-online/
http://www.solidblogger.com/check-public-provident-fund-ppf-status-online/
Regards,
_____________________________________________________
Sreenivasa Rao Kilaru / Capgemini
Financial Services Strategic Business Unit
Hyderabad, TDI Practise,
Phone: +9140 66526000 Extn. : 4028571 Mobile: +91 9160666689 / www.capgemini.com
Together. Free your energies
________________________________________________________
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How to withdraw PF amount/PF withdrawal
Labels:
Provident Fund
Indian Government has passed a law, well known as the Employee provident Fund scheme, according to which both the employee and the employer contributes at 12% of their wages, DA and retaining allowance to the fund, every month. This fund gets added to the employee’s EPF account (Employee Provident Fund) and the whole amount is given to him during various occasions such as retirement, medical expenditures, housing costs, family obligations, education of children or own, paying insurance policies etc.
The employee ends up paying to his EPF every month while the interest rate on his investment is calculated in the months of March/April every year. The applied interest rate gets fixed by the ruling Government of India in consultation with Central board of trustees and other concerned members. The EPF fund amount increases every year with the interest sum and deposited amount.
EPF - Employee Provident Fund
Checking EPF Fund Status
The concerned department passes a statement of EPF account to the contributing employees. The statement contains all the necessary informations such as the opening balance, amount contributed in the current financial year, total interest amount earned in the current year, withdrawn amount from the fund (if applicable) etc.
Withdrawing EPF Funds
EPF fund has been designed to help employees with some financial benefits upon his retirement. One contributing employee can withdraw his deposited amount completely, once he retires from his service at the age of 55 years.
However, there are few options and ways where the employee can withdraw EPF funds before retirement. One can withdraw any amount of up to 90% of the accrued amount if she is or more than 54 years old. On the other hand, one member is entitled to withdraw the full amount if (i) he leaves India and settles abroad or (ii) member retires from his job before reaching the 55 years age limit or (iii) if a person retires because of mental infirmity or in case of individual or mass retrenchment.
If you had applied for EPF fund withdrawal, you can check your application status here. You can also check your Provident Fund (PPF) status online.
PF Officer location
Labels:
Provident Fund
Locate an EPFO Officer:
Please click here: http://www.epfindia.com/offsearch.asp
Sometime we need to know the location of officer who processed our request. When an officer change location in h emiddle of our application it will create big mess.
EPEF Office Locator
Labels:
Provident Fund
PF Office – Hyderabad
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Chennai
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Coimbatore
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Tiruvanathapuram
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Mysore
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Bangalore
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Tambaram
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Noida
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Bandra
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Calcutta
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Pune
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Delhi
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Mumbai
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Patna
Please click here: http://www.epfindia.com/jurisdiction.asp
PF Office – Gorgon
Please click here: http://www.epfindia.com/jurisdiction.asp
Know Your PF Transfer /Withdrawal Status Online
Labels:
Provident Fund
It was a pain for all of us to know the status of PF transfer /withdrawal once it is initiated. We had to wait for a long time and there would not be any clue of whether transfer would happen or not. But now we have got a chance to see PF Transfer/Withdrawl status online.
The Indian government has created a web site where we can check the details regarding our PF transfer /withdrawal. All we have to know is our PF account number given in our previous office.
Click here to know your PF withdrawal/transfer status.
Click Here: http://www.epfindia.com/indiaepf/loginnew.aspx
Select the state and the exact place where you were working previously. Provide the establishment code which is available in your PF account number.
For example if your PF account number is TN/12345/2003, then your establishment code is 12345.
Once you provide this establishment code in the appropriate place, the name of your previous employer appears below the column which confirms that you have entered the establishment code correctly.
Finally provide your employee id of your previous company and then click the "Get Claim Status" to know the status of your PF transfer /withdrawal.
java.rmi.ServerException: RemoteException occurred in server thread
I have installed an application in IBM Web sphere. I want to use few application specific jars. So I added the jars in my application root folder and I added in MANIFEST.MF also.
But still I am getting the following error:
java.rmi.ServerException: RemoteException occurred in server thread; nested exception is:
java.rmi.RemoteException: ; nested exception is:
java.lang.NoClassDefFoundError: com.eistream.utilities.expression.op.OpVoid
at com.ibm.CORBA.iiop.UtilDelegateImpl.mapSystemException(UtilDelegateImpl.java:235)
at com.ibm.CORBA.iiop.UtilDelegateImpl.wrapException(UtilDelegateImpl.java:743)
at javax.rmi.CORBA.Util.wrapException(Util.java:296)
.
.
.
What may be the reason, please help me.
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Data got commited in another/same session, cannot update row
Always get - Data got commited in another/same session, cannot update row
When I delete a row from Sql Developer tool I am getting the following error:
Query: DELETE FROM "SONORA"."PI_GENERIC_CAPTURE" WHERE ROWID = 'AAADg9AAFAAAAPIAAC' AND ORA_ROWSCN = '1136534' and ( "ASSIGNEEID" is null or "ASSIGNEEID" is not null )
One error saving changes to table "SONORA"."PI_GENERIC_CAPTURE":
Row 1: Data got commited in another/same session, cannot delete row.
Possible Solutions:
1. Log off sql server and restart it.
2. Go to Tools -> Preferences -> Database -> Object viewer
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