JavaTechies / Personal Finance

Life Insurance premiums are now eligible for LTC benefits!

2021-02-18T02:47:00.004-08:00

Recently, eligible spends for Leave Travel Concession (LTC) have widened. The government announced a LTC Scheme, whereby salaried individuals can avail exemption when they buy specified goods and services, including new life insurance policies.

This exemption can be claimed for deemed LTC fare and is applicable till March 31, 2021. So, when you buy a new life insurance policy, you can now get tax* benefits under the LTC scheme on your life insurance policy.

You don't know about - LTC Cash Voucher Scheme : link

What is gratuity? How to calculate gratuity?

2019-08-13T05:31:00.001-07:00

The Central Government amended the Payment of Gratuity Act of 1972 under the 7th Central Pay Commission roll out in 2017. Under the amendment, the ceiling on tax free gratuity was doubled to Rs20 lakhs from Rs10 lakhs earlier.

Most people are not aware of the element of gratuity in their salary irrespective of being a government employee or working in private sector. Under the Payment of Gratuity Act of 1972, you are eligible to receive gratuity if you have rendered continuous services for a minimum of five years. This Act is applicable to employees of factories, railways, oilfields, ports, mines, plantations and any establishment that has 10 or more employees.

It is not compulsory for establishments or organisations to pay gratuity if they do not fall under the Gratuity Act. If such an employer, still chooses to pay gratuity, the amount paid is tax free. However, the calculation is slightly different in such cases. We shall explore the calculation in detail, later in the article.

Rules of gratuity payment
Unlike the Employee Provident Fund (EPF), where you have to make a contribution from your salary, you are not required to make a contribution to be eligible for gratuity. Your employer may pay the gratuity component as a retirement benefit or as a social security from its own funds. Alternatively, it may enter into an agreement with a life insurer for a group gratuity plan.

In case you suffer from a disability or expire while employed with the organisation, your employer will have to offer the gratuity amount to your nominee or legal heir. In such cases, the number of years in service will not be taken into consideration. In case your nominee is a minor, he or she is still eligible to receive the gratuity. However, the funds are deposited in his or her name in a term deposit by the Assistant Labour Commissioner in any nationalised bank. Your nominee becomes eligible to withdraw the funds once he or she turns 18.

Forfeiture of gratuity
The gratuity of an employee can also be forfeited under the following circumstances:

The service of the employee was terminated due to anti-social activity/violence, disorderly conduct.
The service of the employee is terminated following an offence that involved moral turpitude during his employment.

However, there must be a termination order provided by the employer on such grounds clearly stating the reason for the forfeiture of gratuity. In the absence of a termination order, an employee’s gratuity cannot be forfeited.

Calculation of gratuity
There is no set percentage for the amount of gratuity that you may be eligible for. Your employer may use a formula based approach or may even choose to pay a higher amount. There are two main components that go into the calculation of gratuity, i.e. the last drawn salary and years of service. To calculate how much gratuity is payable, non-government employees are classified under two categories:

Employees covered under the Gratuity Act
Employees not covered under the Gratuity Act

Employees covered under the Gratuity Act
For employees that fall under the Gratuity Act, the formula used for calculation of gratuity is as follows:

Number of years in service x Last drawn salary (inclusive of basic salary, dearness allowance and commission received on sales) of 15 days = Number of years x 15/26 x monthly salary.

Let us understand this with an example:
Suppose Mr Ashok Banerjee has worked in a steel plant for 21 years where his last drawn salary was Rs60,000/month. Thus using the formula as explained above, his gratuity would be calculated as follows.
(15 x 60,000 x 21) /26 = Rs 7.26 lakhs

Employees not covered under Gratuity Act
As mentioned earlier, an employer who does not fall under the Gratuity Act can also choose to pay gratuity to his employees. The calculation however differs in such cases.

The formula will be as follows:
15 x last drawn salary x tenure of working /30

To understand this with the above example, if Mr Ashok were to be employed with a company that does not fall under the Gratuity Act, his gratuity would be calculated as follows:
(15x 60,000 x 21) /30= Rs 6.30 lakhs

Increase in ceiling
The Central Government amended the Payment of Gratuity Act of 1972 under the 7th Central Pay Commission roll out in 2017. Under the amendment, the ceiling on tax free gratuity was doubled to Rs20 lakhs from Rs10 lakhs earlier. This puts Central Government employees at par with private and unorganised sector employees.

Further, the Government is also considering increasing the gratuity component of all employees who fall under the Payment of Gratuity Act 1972. This is in consideration of the fact that inflation and wages have increased considerably over the last four decades. The Government is keen on the amendment as the main aim of gratuity is to provide a social security to individuals post their retirement.

Copyrights by #indiainfoline

How investment of Rs. 29.4 lakhs has become Rs. 7.6 crs?

2019-07-18T05:28:00.000-07:00

"A smooth sea never made a skilled sailor."

- Franklin D. Roosevelt

HDFC Equity Fund has launched 24 years ago on 1^st January 1995. From an initial corpus (AUM) of ~ Rs. 52 crores in Jan’ 95, HDFC Equity Fund has grown from strength to strength and has an AUM of ~ Rs. 23,500 crores as on June 30, 2019.

The Fund has stood the test of time over the last 24 years in which the market witnessed series of domestic and global events such as Asian Currency Crisis, Kargil War, Dot Com Bubble, Global Financial Crisis and multiple state and central elections resulting in market volatility.

While such events and market volatility would have given cold feet to an ordinary equity investor, an investment through Systematic Investment Plan (SIP) would have helped those investors who would have continued with their SIP regardless of market volatility.

Below table gives investment summary of SIP of Rs. 10,000 per month since the inception of the fund:

SIP per Month	Total Investment	Market Value as on 30^thJune 2019	CAGR	Investment has grown	Time Taken
Rs. 10,000	Rs. 29.40 Lakh	Rs. 7.62 Cr	21.78%	26 times	24 years, 6 months

The above is only an illustration. Returns are not assured

SIPs help eliminate the role of emotions from investing and ensure rupee cost averaging by buying more units at lower price and vice versa. For long term wealth creation, an investor should follow simple SIP mantra of:

"Start Early, Invest Regularly and Stay Invested."
Patience & Perseverance Pays.
Past performance may or may not be sustained in the future.
^Assuming Rs. 10,000 invested systematically on the first Business Day of every month over a period of time.
^*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
#Copyright by #HDFC MF

NPS withdrawal made 100% tax free!

2018-12-21T02:33:00.002-08:00

Wish you happy Christmas & New Year 2019 in little advance.

This year is little busy with many professional & personal work so first post i was able to publish on JAN 2018 and this is late post on today.

Now start your 2^nd innings care free, your retirement corpus is 100% tax free.

The Government on December 6, 2018 has approved tax exemption limit for Lump sum (one-time) withdrawal from NPS corpus at the time of retirement from the present 40% to 60%.

At the time of retirement, a NPS subscriber can withdraw 60% of the accumulated corpus through lump-sum mode and remaining 40% has to be compulsory annuitized.

Now, with this change entire 100% (60% lump-sum withdrawal and 40% annuity) in NPS will be tax free.

Age wise tax planning

2018-01-03T02:18:00.000-08:00

Wish you happy new year 2018.

Let's start year with understanding the your tax saving investment base on your age group.

and here is interest chart for those investment components .

Source : ICICIIDirect.

Mutual Fund Model Portfolio 2017 (Aggressive,Moderate & Conservative)

2017-11-23T05:05:00.001-08:00

Mutual Fund Model Portfolio 2017

Courtesy : IIFL

Why FMP and Debt Fund Better Than Fixed Deposit ?

2017-11-23T05:03:00.001-08:00

Why FMP and Debt Fund Better Than Fixed Deposit ?

Courtesy by : IIFL

PERSONAL FINANCE SPECIAL (BUDGET 2017-2018)

2017-03-03T06:22:00.000-08:00

Hello Readers,

Here, I able to collected short note about personal financial budget 2017-2018 year.

1) Income Tax rate cut to 5 % in the income slab between Rs 2.5 lakh and Rs 5 lakh from 10%

Effect on Tax Payer: Positive. This will reduce the tax liability of all tax payers across slabs. The percentage reduction of tax liability will be greater for tax payers in the lower slabs.

2) Rebate under Section 87A reduced from Rs.5,000 to Rs.2,500 and the applicable limit has been reduced from taxable income of Rs.5 lakh to Rs.3.50 lakh.

Please refer below illustration to understand the effect of both the above changes:

3) 10% surcharge on individual income above Rs 50 lakh and upto Rs 1 crore to make up for Rs 15,000 cr loss of due to cut in personal I-T rate. The existing surcharge of 15% for total income above Rs 1 crore remains unchanged.

Effect on Tax Payer:Negative. This will increase the tax liability of tax payers with total income more than Rs.50 lakh and upto Rs.1 crore. The percentage reduction of tax liability will be greater for tax payers in the lower slabs.

4) First time income tax returns filing will not come under government scrutiny.

Effect on Tax Payer: Positive. This will encourage more income earners to file income tax returns.

5) The holding period for computing long term capital gains (LTCG) on land & building reduced from 3 years to 2 years

Effect on Tax Payer: Positive. Investors can now sell their investments into property quicker than before.

6) For the purpose of computation of capital gains, the Indexation base date has been changed from April 1, 1981 to April 1, 2001.

Effect on Tax Payer: Positive. As the general price increase in capital assets has been more than the cost of inflation index in the last 15 years, this move would benefit all investors who have bought properties between 1981 and 2001 by increasing their indexed cost of acquisition, thereby reducing the capital gains on which tax has to be paid.

6) For the purpose of computation of capital gains, the Indexation base date has been changed from April 1, 1981 to April 1, 2001.

Effect on Tax Payer: Positive. As the general price increase in capital assets has been more than the cost of inflation index in the last 15 years, this move would benefit all investors who have bought properties between 1981 and 2001 by increasing their indexed cost of acquisition, thereby reducing the capital gains on which tax has to be paid.

7) Set-off amount for loss from house property, against other heads of income, capped at Rs. 2 lakh. Any unabsorbed loss can be carried forward for next 8 assessment years and set off against future income from house property. Currently there is no upper limit for let out properties; however, there is a maximum limit of Rs.2 lakh for self-occupied properties.

Effect on Tax Payer:Negative. Hitherto, investors have been using this provision of no upper limit for let out properties to a great extent to save more tax. These investors will now have to shell out more tax. The carry forward provision might not be of use in the initial years of the loan, as there might not be any income from house property to set off, in these years

8) Partial withdrawal from NPS tax - exempt up to 25% of employee's contribution

Effect on Tax Payer: Positive. Till now, only at maturity, 40% of the withdrawals were exempt from tax. This move will help investors to fund any emergencies without getting much of a bite.

9) Exemption on Long-term capital gains tax on sale of equity investments will now be available, only if Securities Transaction Tax (STT) is paid both at the time of sale & purchase. Earlier, the requirement of STT was only at the time of sale of the shares.

10) The time limit for filing your income tax return and revising the return filed has been reduced and has to be done before end of the respective assessment year. The budget also provides for levy of mandatory fee if you delay filing of your income tax return beyond the due date.

thanks to icicidirect,copyright noted.

Myth & Fact all about Mutual Fund

2017-03-03T06:05:00.004-08:00

Myth & Fact all about Mutual Fund

Myth: Mutual funds are stock market investments

Fact: Mutual funds are diversified investments that invest across stocks, bonds, money market instruments and combination of these. Mutual

Myth: One can only invest large sum in mutual funds

Fact: An investor can start mutual fund investment via Systematic Investment Plan (SIP) mode and invest regularly with amount as small as ` 1000.

Myth: SIP gives positive returns

Fact: Mutual fund SIPs are subject to market risks and there are no guaranteed returns in these tools

Myth: SIPs are beneficial for short-term

Fact: There are different mutual fund options for short-term and long-term goals. SIPs have historically given better returns when invested for long-term.

Myth: Net Asset Value (NAV) is the performance indicator of a mutual fund.

Fact: NAV is only the price per unit of your invested fund. The decision to select a mutual fund should not be based alone on this factor.

Myth: Entire amount invested in Equity linked savings scheme (ELSS) via SIP can be withdrawn after 3 years.

Fact: Every SIP installment of ELSS fund has to complete lock-in period.

Myth: Star rated / top performing funds are risk free

Fact: Performance of all mutual funds are subject to market risk.

How does it work ? SASI (SSTable attached secondary indexes)

2017-02-27T05:50:00.001-08:00

Hello Cassandra Developer,

Today, we will talk about how does indexes work into Cassandra, mainly about SASI.

Motivation factor :

It's help you to fulltext search
It's can be get by secondary index on cassandra columns
it's help you to get unpredicate search query on cassandra data model

How does it work (SSTable - secondary indexes):

Maintain complete indexes data into single SSTable(kind of concurrent thread safe map collection in java)
Since it's single SSTable, it has memory issue and need good RAM when huge data.
it's called as "Classic C* Indexes"
Support few basic comparison operation ("=").
It's based on SSTable format.
Support into Cassandra older version (less than 3.3)
SSTable need to play with memory & disk operation for indexes data.

How does it work (SASI):

Maintain the Token tree base format - (B tree collection concept in java)
It's create the different separate SASI for each indexes , each index would have separate file i mean.
Since it's sets of small chunk/dataset, search performance faster
Support into Cassandra version(3.4)
Complete index data built into memory and then store into disk for normal cases
Support Inequality & intersect scan operation too (look image)

Below is quick comparison chart :

New Operation support into SASI as below

Enjoying cassandra coding and data modelling ...

Cassandra Materialized view vs Index

2017-02-23T07:18:00.000-08:00

Cassandra, it's not new now, mostly all developer should know it somehow or might read some where.

if you are not part of this big data column base database development usage then grab it and learn it for your next scaling problem at data level, what you are or you would face in project work :) this help you !!!

Today, let's me give you detail about cassandra materialised view (new feature in 3.0 cassandra) and how it's work.

Also, how it's defer than apply index on column in your single data model table.

Real life issue with cassandra :

Data model best practice suggest you to make read faster, use query base data model, do not worry about write or duplicate of data at the cassandra level, it can be handle by your application
But, it's not easy to handle this at application level when we simple change one or few row and it's effect to update many data model even if it's part of one entities or one record object.

What was solution pre cassandra 3.0

Cassandra community has answer either build query base data model mean each query execution should have one table in cassandra so read operation become faster.
Another quick solution if you wont like above approach

use concept of index on query column and use single table in data model (fun)
fun behind this, application need to write and maintain the single table in cassandra side for all CRUD operation. - here you are thinking for better write , not read :(

What was post cassandra 3.0

Cassandra(indirectly datastak might be) introduce the concept of Materialise view .
More info : link

Let's understand simple example :

Here, how would you make cql.

Here, How you can get same thing with Local Indexes ?

How does it hit at node level in cluster env. ?

Since Index column is not partition key, it has to hit all nodes in your cluster env.

Problem : it would hit your performance but if you are looking for predicate base query or application does not know which column query got execute then it's OK also it's ok if you are looking for fulltext search functionality, you dont have any option as of now :).

Let's see how does it help here ?

Since Cassandra managed partition key or create partition key while making the materialized views,
it wont be talk with all your nodes but only which has real your result data :)

Let's quick look, how does it compare and who will WIN.

Enjoy and keep using the cassandra for your product .

thanks to apache cassandra & datastak.

3 Mistakes to Avoid When You’re Challenging the Status Quo

2017-02-23T02:17:00.001-08:00

February 23, 2017

3 Mistakes to Avoid When You’re Challenging the Status Quo

You have a great idea that will improve operations, but it goes against the way things are done. Now the challenge is to break through the bureaucracy to get your idea implemented. When you’re taking the role of rebel at work, there are a few pitfalls to avoid:

Going solo. It’s tempting to think you can do it all on your own. But you can’t. Temper your ego and collaborate with others to advance your idea. Bringing in fresh perspectives will only help.
Flunking the pitch. When you’re ready to share the idea, keep your pitch short — no more than 15 minutes — and leave lots of time for discussion and questions. Engagement is the first step to buy-in.
Giving up too soon. Set small goals and appreciate the small wins along the way. When you hit a setback, reflect on your positive progress to help you stay the course.

Copy right by

Harvard Business

Build Your Own Personal Board of Directors

2017-02-22T02:04:00.001-08:00

February 22, 2017

Build Your Own Personal Board of Directors

If you’re looking to rise through your organization’s ranks, but aren’t sure how, consider creating a personal board of directors. This informal group comprises six to eight people who can help with your professional development.

There are three types of people you should include.

First, you need fans — people who support you and will deliver tough feedback with kindness and good intent.
Second, recruit potential sponsors — senior leaders who can advocate for you when it’s time for a promotion.
Third, include at least one critic. These people may be the toughest to approach, but they can be the most valuable.

Look for people who have deep-seated perceptions of you and are likely to block you from advancing. If you enlist their help, you may be able to shift the relationship into a positive one and use their criticism to grow.

copy right by Harvard Business

How to get Original RC/License document from PMC RTO office ?

2017-02-22T01:30:00.001-08:00

How to get Original RC/License document from PMC RTO office ?

coming soon :)

Patience is the mother of all virtues #Equity Market # Share Market

2017-01-24T07:10:00.000-08:00

Equities over medium to long term is a wealth creating asset. However, it is the nature of the equities to move up and down over the short-term. Trying to time the market over the short-term is extremely challenging. One solution is to maintain a long-term horizon and ignore the short-term fluctuations. On the other hand, SIP (Systematic Investment Plan) helps take advantage of ups & downs in market and mitigate risk arising from market volatility, provided the SIP is continued over long periods of time.

There are abundant stories highlighting the importance of long term investing and the importance of averaging through SIP investing. But, nothing can tell it better than the numbers do. Consider this, SIP of Rs 3000 per month in HDFC Top 200 Fund since inception (Oct 11, 1996) has created wealth to the tune of Rs ~82 lakhs as on Dec 30, 2016, despite the fact that the journey was bestrew with many global/local events like tech bubble, Asian crisis, Pokhran blast, Lehman crisis, Brexit, etc.

Illustration: HDFC Top 200 Fund

In the table below, we have taken the snapshot of SIP performance on quarter ends for the time periods as given therein. You shall observe that, SIP returns up to 3 years is very volatile. On the other hand, return on the SIP filed for the longer term, say 5 years & above, is steady and rewarded decently irrespective of market fluctuations in the short run.

P.S. Past performance may or may not be sustained in the future

Step by step guide on how to pay Income Tax that is due

2016-07-27T05:09:00.001-07:00

1. Select Challan 280

Go to the tax information network of the Income Tax Department and select Challan 280.
Click here to go to the government website and pay your tax

2.Enter Personal Info

For individuals paying tax, select . Please choose the Assessment Year correctly . Choose if you are paying taxes after the Financial Year has ended.

View mandatory fields to be filled in

Note: Choose "(100) ADVANCE TAX" if you are paying taxes during the financial year. Choose "(400) TAX ON REGULAR ASSESSMENT" if you get a demand notice from the Tax Department.

3.Double check info

You will be redirected to the net banking page. Double check the information entered here and enter the income tax amount to be paid in the income tax field.

Tip: You can leave surcharge, education cess, interest and penalty blank.

4. Check Receipt (Challan 280)

This is your Challan 280. You will be able to see details about your payment on taxpayer’s counterfoil. Add BSR code and challan number on the right.

HOW WOULD YOU SAVE 83945 RS ON YOUR TAXES ?

2015-10-07T10:16:00.002-07:00

Hello Friends,

I got time to write this page after long time.

Here, How would you have 83945 RS on your taxes ?

1) Equity Linked Savings Schemes (ELSS)

ELSS the tax saving investment with shortest lock-in period and the potential of higher returns. Equity linked savings scheme or ELSS, as they are popularly known, are diversified equity mutual fund schemes that provides capital appreciation and also qualifies for tax saving.

Amongst other tax saving instruments u/s 80C, ELSS not only has the potential to deliver higher returns but also has the shortest lock-in period of three years.

Key Features :

Type of Scheme: Equity-oriented Scheme
Asset Allocation: 80-100% equities
Scheme Objective: Capital Appreciation

Tax Benefits :

Investment up to a maximum of ` 1,50,000 is eligible for deduction under section 80 C. You can save a maximum of ` 46,350/- (depending on your income-tax slab)

In addition to saving tax, the investor can benefit with ELSS as under

Long term capital gain on equity oriented mutual fund are exempt from tax u/s 10(38)
Dividends received from a mutual fund are exempt from tax u/s 10(35)

2) Life Insurance

Life Insurance is a must have!

To save tax, Life Insurance plays an important role. It helps mitigate the financial burden of your dependents in case of your unfortunate death and also helps in saving tax.
You can choose from a pure protection no-return term insurance plan or a plan that provides for protection along with an investment option. Our advisors will be happy to assist you in selecting the right fund that meets your protection, investment and tax saving needs.

Tax benefits available under Income Tax Act, 1961 when buying Life Insurance:

Premium paid on Life Insurance policies up to ` 1,50,000 is eligible for deduction subject to conditions specified in section 80C. You can save tax up to ` 46,350/- (Tax benefit calculated on highest tax slab rate of 30.90% on premium of ` 1,50,000).
In addition, amount received on Death is tax free and maturity proceeds will be tax free subject to conditions as per Section 10(10D).

Health Insurance - A must in this age of rising healthcare costs

Over the last few years healthcare costs in India have spiralled upwards. There has never been a greater need for individuals and families to ensure that they are financially protected from the cost of a medical emergency.

Tax Benefits :

You can avail tax deduction upto ` 55,000.

The total maximum deduction that can be claimed under section 80D is as follows
Description	Health Insurance Premium paid in respect of		Total Deduction under Sec. 80D
Description	Self, Spouse & Dependent Children	Parents (whether dependent or not)	Total Deduction under Sec. 80D
No-one has attained the age of 60 years	` 25,000	` 25,000	` 50,000
Assessee and his family is less than 60 years & parents are above 60 years of age	` 25,000	` 30,000	` 55,000

You can save tax up to ` 16,995 (depending on your income-tax slab).

Rajiv Gandhi Equity Savings Scheme

In addition to deduction available under section 80 C, all individual tax payers with income under ` 12 lakhs who are first time investors and can benefit from the Rajiv Gandhi Equity Savings Scheme (RGESS).
A maximum of ` 50,000 can be invested in approved stocks and mutual funds and the tax payer can claim 50 per cent of the amount as tax deduction under Section 80CCG. A maximum amount allowed for deduction is ` 25,000. The maximum tax saving possible under the RGESS will be ` 5,150/- , in addition to the allowable deduction under section 80C.

Tax Benefits :

Allowable deduction of 50% on a maximum investment of up to ` 50,000 in approved stocks or mutual fund Tax
Lock in of 3 year with blanket lock in of 1 year
Investors can trade after 1 year with certain restrictions

Let your second innings be a new beginning to happiness

Second innings is a time to leave all your worries behind, be free of responsibility, and celebrate. All of us desire to live our lives based on our choices and be financially independent especially when it comes t o our retirement.
To help you fulfill your retirement plans, we suggest you to consider channelising your savings towards National Pension System (NPS).
NPS is a voluntary contributory pension scheme introduced by Central Government. It helps you accumulate a pension corpus during your work life for a peaceful retired life.

Tax Benefits :

You can avail tax deduction upto ` 2,00,000 paid as subscription to NPS.
If you have exhausted the tax deduction limit of ` 1,50,000 (u/s 80C), you can avail tax deduction of additional ` 50,000 (u/s 80CCD) and save up to ` 15,450 (depending on your income-tax slab).

Disclosure : this is my personal view and please contact financial adviser to make it well, thanks to ICICIDIRECT for above information.

What is your Universal Account Number (UAN) ?

2014-10-18T04:50:00.002-07:00

Dear PF Friends,

Good Afternoon,

If you are in touch with news paper or latest news then you'd heard about UAN.

Don't worry if you don't know ..even i was not aware about this two day before ..of course it was launched on 17th OCT by new government and it's from EPFO.

EPFO has launched an Universal Account Number (UAN) based Member Portal to provide a number of facilities to its members through a single window

• Activate your registration to avail various facilities such as UAN card download, member passbook, updation of KYC information etc.

• As of now, only active members (contribution received through ECR for the wage month October 2013 onwards) would be able to register themselves.

• For registration, obtain UAN from your employer alongwith your member ID.

• Your mobile number would be required to activate registration.

Let's find out, wheter your employer has processed and enrolled UAN for you.

here is clue, you can check your UAN is enroll and process by EPFO or not .

please click link and provide your PF number in valid format.

If you are lucky mostly yes you'd get lucky then you'd sure get below message

Your UAN is allotted, kindly get your UAN No. from your employer.

Good, yes i can see you are smiling and worry about next thought... that you have not received UAN from your current employer, No Problem, please just talk to your respective concern department or finance/account department and ask for UAN.

Now, what ? if you have UAN then you have to activate it based registration. please check here for same

In this simple form, you have to fill following three very important information to activate your UAN.

Universal Account Number (UAN)
Your register mobile number ( registered it with EPF, click here)
Employee Provident Fund Number

That's it ...and just click on "GET PIN" button after fill up captcha text box.

Once you received unique PIN number on your mobile ,please fill it in the "Enter Authentication PIN" text box and clicked "I Agreed" checkbox ..

Finally, please click on submit button and it's activate your UAN.

Enjoy and keep investing your hardworking money into growing places.

Bonus Point :

If you have an UAN then you don't need to worry about withdrawal or transfer PF amount whenever you change JOB. you just provide UAN number to new employee that's it.

Buying Medical Insurance, Your Check List Point before buy it

2014-10-18T04:28:00.000-07:00

Today, I would like to give you a DIWALI gift. this gift is not physical gift and it could help you to buy medical insurance that would be proper,sufficient & could be best fit to your requirement

So, Let us discuss few check list that would help you to find best or suitable medical insurance for you and it's as following .

Don't buy too low or too high medical insurance.
Your Medical insurance should cover few regular charges.
Your Medical insurance should extendable and customization in future.
Your Medical insurance should renewal and eligible even older age.
Don't only depend on your company's medical insurance, you must have your personal one too.
You should have maximum medical insurance if possible
Don't go with only bigger and credited company only, if any small or new company approve by IRDA and you are getting good medical insurance with lower premium then please go ahead.

Bonus point :

In this technology world, you'd able to compare and find the best/lower/suitable medical insurance policy from many online medical insurance portal.

Happy Diwali and New Year 2014 :)

Disclosure : this is my personal view and point about medical insurance policy, please contact to any expert or financial consultant or medical insurance agent.

How do you check balance of your Employee's Provident Fund (EPF) ?

2014-10-18T04:21:00.002-07:00

Dear friends,

Today, I would like to teach you how to access and get balance of your provident fund account ?

Firstly, you have to register your self with one of the following valid ID proof.

PAN Card
AADHAR ID
Bank Account Number
Voting ID
Driving License Number
Passport Number
Ration card number

and also you have to give valid and your personal mobile number for same registration too.

Please follow this link for EPF registration link

Once you have done the registration successfully, you are ready to access your EPF balance information.

Please login with your above given valid ID proof and mobile using this link

If you have logged in successfully then you'd able to see home page of EPF.

Please follow below steps to download your EPF balance passbook as PDF file.

Click to "Download E Passbook" tab
Click to "Download E Passbook" first link in that tab
Select State (mostly company's registered state or HQ's state)
Select Office name (it's display on your PF Number)
Fill up Establishment code (Employer's Code, it's display on your PF number)
Extension : Mostly leave it blank if you dont have it
Account Number : Mostly it's your employee code.
Fill that Captcha Text book properly and click on GET PIN Button
You would get 4 digit number to your register mobile number, so please check your mobile message app.
Checked "I Agree" checkbox and Fill the PIN text box that your got it as message
Finally, Click on "Get Detail" Button and it'd ask to download or save PDF file or give you as link for download your EPF Passbook as PDF file.

Bonus Point :

Ideally, you should check your EPF Passbook balance quarterly or half yearly.
Check with your employer if you'd find any problem with credited PF Amount
In the EPF Passbook, You can find your pension fund amount and judge your retirement life too :)

Enjoy and keep investing your money in growing place.

EPF Limit increased to Rs. 15000 from Rs. 6500 and Less Take Home

2014-09-04T02:23:00.000-07:00

Hello my friends,

EPFO has increased the limit of EPF from the amount 6500 to 15000 RS .

current deducting PF following way from employer/employee

Employee : 6500*12% = 780

Employer : 6500*12%*1.61%(ST) = 885.

And now, minimal total PF deduction will be work as below ..

So,

Employee : 15000*12% = 1800

Employer : 15000*12%*1.61%(ST) = 2041.

How much additional loss & profit ?

Employee : 1020 (1800-780)

Employer : 1156 (2041-885)

Now, Please be ready to cut your monthly take home salary by more than 1020 RS and good news is that employee will be giving additional 1156 appx RS to your PF account from employer PF contribution.

Do not bother much about this thing and it would help you in retirement...

Clean Simple Tax Benefit for Tax Payer from Budget 2014-2015

2014-07-10T10:45:00.001-07:00

Hello My friends,

This is your own clean simple tax benefit for you only, you would get it from budget 2014-2015 published today by our FM, Sir Arun Jetley.

Our FM has published many very good benefits for our tax payers and ..give us very nice tax rebate for small & middle tax payer person..

Today, I am not going to give you all the complete benefit that would help you to save tax and take more money hand home :) yes ..for same i need to read the new budget in detail..

but do not worry, this post makes you happy and tell you in simple language what you get and save ...

following three many point that would help you to save tax and get benefit from this financial while paying tax ..

Increase limit in 80c : 1 lacs to 1.5 lacs
Increase Home loan Interest : 1.5 lacs to 2 lacs
Increase tax exempt from 2 lacs to 2.5 lacs ..

So, to understand this funda in clean, let's consider you are earning total 10 lacs per year ...

In this year, if you have to invest total 1.5 lacs in two part, first 1 lac that you would get benefit from home loan principal and remaining 50,000 you can invest to PPF .. you can get tax benefit on this complete amount ..

Now, as you might or you have home loan then you can show your home loan interest total 2 lacs, you can get tax benefit on this complete amount.

Also, you won't get tax up to 2.5 lacs ..so, let me calculate your tax deduction with this simple three new tax rules .

So, if you understood this rules completely and correctly from above example then you can easily see you are getting total 1.5 lacs amount that decease from your tax payable amount .....and depend on first tax bracket rules ..it's give total 15,000* RS clean tax amount benefit ( this amount is calculated without consider surcharge & education charge**).

Enjoy ..and Ab ki bar Modi sharkar .....

Ache Din is started ..

Thanks to FM for this wonderful benefit for your hand worker salary employee.

....

Congratulation, You are promoted and you become CEO !!!

2014-07-02T02:40:00.000-07:00

Hello Friends,

In this post, I am going to tell you what you are and what your position !!!

Congratulation again, you are promoted and you become CEO of yourself & your wealth.

How ?

Are you sure ? Yes,

you are not still believing this position ? you are promoted of-course you were but after reading this post, you are promote to CEO , This is the new position in your wealth ...

Please ask following question to yourself :

Do you have money ?
Are you keeping your little money to bank account?
Are you keeping your little money to bank deposit ?
Do you feel your money little growing through that ?
Do you always think about get more money ?
Do you always think about faster grow your money ?
Do you try to invest your money to equity market /mutual fund for growing it faster or better return ?
Do you think little bit about saving when you do shopping ?
Do you think little bit about saving when you go for outing/lunch/dinner ?
Do you feel you don't know number but you try to understand it ?
Do you try to feel that your income tax should get less deduct ?
Do you think about getting extra money apart from your regular wage/salary ?
Do you try to find best/fulltalktime recharge when you do it for mobile/Digital TV ?
Are you getting benefit from your credit card if you have it ?
Are you using your credit card in smarter way if you have it ?
Do you think first about better health ? then do think about better wealth ?
Do you prefer go by walk instead of use own vehicle for short distance ?
Do you prefer to use public transport instead of use own vehicle (not in term of time saving but saving money).
....many more in daily routing life ..

Think and ask again these question to yourself.

and if you have answer of these question : "YES" with range of 80-100% then i am sure you are doing very good in your wealth and you are YES, YOU ARE CEO OF YOUR WEALTH.

If Not then don't worry, you have two option as below

Either you have to work to become CEO of your wealth.
Or you have either no value of money or you have enough money for spend :).

Enjoy ..

Keeping think about money ..

have nice day !!

How do i meet end-user expectations for application response times ?

2014-06-27T08:13:00.001-07:00

Thinking ? visit me in few days

It's reality or not, does project build this way ?

2014-06-26T05:50:00.000-07:00

Reality or not, it's own pocket....how does project development work ?

courtesy by : http://www.dilbert.com/