Tuesday, July 1News That Matters

Year: 2016

[How to] withdraw PF Balance

How to Series, PF
When can I withdraw my PF Balance ? As per PF rules, when you switch job, you only have ONE option – “TRANSFER to new Employer PF Account”. PF withdrawal is only allowed, if you are unemployed for at least 2 months. However, many employees withdraw money from old PF Account just by declaring that they are out of job for 2 months. They submit the withdrawal form after 2 months of leaving the last employer. As the PF data is not centralised, or no unique PF ID number is in place, it is difficult for them to track whether the employee has joined another company. [How to] Check PF Balance online [How to ] apply for PF transfer online Steps to withdraw PF Balance at time of resignation To withdraw your PF and Pension after leaving employment, you need to fill and submit two forms - Form 19...

New EPF Form 11 – Employee Declaration form & Replacement for EPF Form No. 13 (PF Transfer)

News, PF
When you change our employer, then you need to submit 2 forms - Form No. 11 (Declaration form) and Form No. 13 (for PF transfer from old EPF account to you new EPF account). However, EPFO has recently (23-Sep-2016) issued a notification which requires to submit one form only - new EPF Form 11. The new Form 11 is a one page declaration form and a simplified version of the existing Form 11. You do not need to submit Form 13. As per the notification, the Declaration Form (New Form No. 11) will replace Form No. 13 in all such cases where existing EPF member makes a request for transfer of his fund availing the facility of UAN (Universal Account Number). So, if you have UAN number allotted and your KYC details are verified by your previous employer, you can just submit new EPF Form 11 to your ...

[How to] download PF statement (e-Passbook) online

How to Series, PF
EPFO is now providing facility to download your PF statement online. You donot need to wait for year end to get the PF statement. You can also check your PF balance via SMS using their on line facility. Read post PF ePassbook It is an Online PF statement which shows details of PF transactiosn monthwise.  It is available to Active members only (not for settled, inoperative accounts). Register online on EPFO Site https://members.epfoservices.in/ Enter your mobile number, Date of Birth & Select one of the following Document Number & then Click on "Get PIN" PAN AADHAR BAnk Account Voter ID Driving Licence Passport Ration Card National Population register You will get a PIN number on your mobile. You need to get a new PIN everytime when you access the details. Poin...

ICICI Prudential Life IPO Oversubscribed 10.44 times on last day

News
Following a slow start on first two days, the IPO for ICICI Pru life is over-subscribed 10.44 times on the last day of subscription (21st Sep 2016). The IPO has received bids for 138.58 crore equity shares against issue size of 13.23 crore shares (excluding anchor investors' portion).  Qualified institutional buyers oversubscribed 11.83 times Non-institutional investors' category 28.55 times Retail investors oversubscribed 1.4 times and Shareholders' quota 12.2 times. I already posted the details of ICICI Pru LIFE IPO and its review in my earlier post. See this link.   On Day 1 – 19th Sep –  IPO subscribed 15% n Day 1 (Retail – 25%, NII – 4.48%, QIB – 6%, Shareholder quota – 20%) Grey Market Premium (GMP) – In the grey market, ICICI Prudential shares are quoting at ...

[How to ] withdraw PF early during employment (pre-mature withdrawal) ?

How to Series, PF
Money in your PF account should be kept for your retirement purpose. However, do you know that you can withdraw amount from your EPF account during the employment in case of certain emergencies? If you meet certain conditions, EPFO can sanction the pre-mature withdrawal. In this post, I am trying to explain the situations where you can withdraw PF amount early during the employment. Pre-mature PF withdrawal is allowed for specific purposes and if the individual furnish all relevant documents and satisfy the necessary requirements: 1)  Two months without any job An employee can withdraw his/her entire EPF contributions 2 months after leaving a job. However, there is a condition that the employee shouldn't start working elsewhere in that period. If another job is taken up within two months...

[How to] access UAN when mobile number changed

How to Series, PF
If you have forgot your UAN password, you can access your reset your password by using UAN and registered mobile number. https://uanmembers.epfoservices.in/forget_pass_uan.php However, if you loses your mobile number or change your mobile number then it is difficult to access UAN. A. Online Option EPFO has provided new link for UAN helpdesk https://59.180.231.60:9091/UANHD/ https://www.epfindia.gov.in/site_en/ https://www.epfindia.gov.in/site_en/For_Employees.php?id=sm2_index You need to select the problem type as "Forgot password and Mobile number is changed" Ente the details like new Mobile number, UAN, Name,Father name, Date of Birth. After the submission, you will get an OTP for the verification. Give the OTP and submit the form. This will generate an application ID. Keep it with y...

LIC’s Bima Diamond Plan (Table No. 841) – LIC New Money Back Policy 2016 – Details & Review

Insurance
On the occasion of its Diamond Jubilee year, LIC has launched a new money back plan - LIC Bima Diamond (Money Back Plan 841). This is a closed ended plan and available for sale until August 31, 2017.   UIN: 512N307V01 It is a with profit, limited premium payment, money back plan with policy term of 16, 20 or 24 years  while the premium paying terms are 10, 12 & 15 years respectively. It is non-linked plan i.e. it is not ULIP or your money will not be linked to equity market movements. Whats Unique about this new policy Money Back after 4 years interval -  This policy provide money back after every 4 years. Most of the LIC policies had money back feature after 5 years interval. Extended Coverage -  After the premium is paid for the  complete term, half of the policy term is extended w...

How to transfer PPF account from one post office to another?

PF
If you have PPF account in one post office and want to transfer it to another post office, then this post will be useful for you. Many people relocate to different cities because of new jobs, transfer etc.  They may have PPF account in post office in other cities and it is difficult for them to maintain those PPF Account.  So the best option is to get your PPF account transferred to your current city to your nearest post office. The process of PPF transfer is simple as below: 1) Fill in Form SB 10(b) - You need to fill an application for the transfer of PPF account from one post office to another post office.  Download pdf form SB 10(b) for PPF transfer -  sb010b-ppf-trasnfer-form 2) The application should be submitted to the old post office  with details of account number, balance in the...

[How to] withdraw PF amount without previous employer’s signature

How to Series, PF
Are you in situation that you want to withdraw your PF Account balance but cannot take previous employer's signature : you left the company without proper notice period & now previous employer not signing your EPF Withdrawal documents you left company long back your previous company is closed or any other reason You can still withdraw your PF amount without signature from your previous employer. 1. Fill the required forms -   Form 19 (for EPF withdrawal) and  Form 10C (for EPS Withdrawal) 2.  Get it attested by any one of the following :     Bank Manager  (preferably PSU and where you have an Account)     By any gazetted officer.     Magistrate / Post / Sub Post Master / Notary 3. Simple indemnity letter on Rs 100 stamp paper 4. Simple affidavit that you are curre...

Best 15 Freedom Stocks of 2017 by CNBC Awaaz

Stocks
On the occasion of 70th Independence Day 15th Aug, 2016, CNBC Awaaz has suggested Top 15 Freedom Stocks of 2017. Stock market experts like Mr. Gaurang Shah (Geojit BNP Paribas), Sanjeev Bhasin (India Infoline) and Sandeep Jain (Trade Swift Broking) has given a recommendation about these stocks. These investments can give you good returns over next year.   Freedom Stocks 2017 Target CMP (Aug 2016) Potential   16-Sep-16 Potential Sintex 130 71 83%   82 59% Allahabad Bank 125 73 71%   81 54% Ashok Leyland 116 87 33%   81 43% Mercator 65 44 48%   47 38% Godrej Properties 450 359 25%   335 34% Gabriel India 150 104 44%   115 30% Rallis India 275 219 26%   214 29% Agro Tech Foods 640 487 31%   522 23% Dishman 215 164 31%   187 15% Suprajit 250 192 30%   218 15% ...