Wednesday, 29 February 2012

Why the cost of insurance varies from person to person

You might have noticed that the amount of insurance premium varies from person to person; either it is life insurance or car insurance. Somebody take insurance policy immediately after purchasing a car and somebody do not like to buy insurance soon. But insure a car is mandatory. In case of life insurance also, somebody wish to insure their life immediately and somebody else do not like to take an insurance policy. But insurance company wishes to bring all type of people under the umbrella of insurance protection. But these are not the real factor for various premium rates for various insurance policy and insured. The following reasons may narrate the matter. 

1. More accident prone drivers: IF drivers met accident more frequently, the insurance company charges a high premium for the car insurance. The answer is simple that the chances of getting accident are more frequent and the compensation also may be frequent. So the insurance company charge high premium.

Why the cost of insurance varies?

2.Lack of safety devises: If the car is without safety devises such as safety belt, gear block, theft alarm system etc. the insurance cost may be cheaper.  The simple logic is that the chances and density of accident may be less and the chances of car theft also very less and there is no need to give more claim. So the insurance company charges less from such parties for the insurance.

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 3. Not taking tobacco or smoking: In case of life insurance the insurance company charges less premium for non smokers. This is with the prediction of more heath problem for smokers than non smokers. So the company charges more premiums from smokers.

4. Age factor of the insured: The life span of an old man is lesser than younger one. So the insurance company charges lesser premium from youngsters for the same policy with same amount of sum assured.

5. Some person does not like to take insurance and spend money: To attract such people insurance company may charge fewer premiums. This is also a reason to vary the insurance premium.

Whatever may be the reason or cost, we must take insurance cover to protect ourselves, our dear and near ones and our assets from emergencies and causalities. It will protect your health, wealth and life.

Monday, 27 February 2012

Job lists in Employment News 25 February 2012

Publication division of Government of India’s Ministry and information broadcasting publishes Employment news every week in English, Hindi and Urdu languages. The Employment News mainly publishes the government job vacancies and career opportunities for those who looking for a better job placement. Following are the job list of Employment News 25th February, 2012 to 02nd March, 2012. This job highlights are useful for our readers and visitors those who are looking for a good government job.

Job Highlights Employment News Employment News 25 February 2012 to 02 March 2012

1. Allahabad Bank requires 1600 Probationary Officers. Last Date: 10.03.2012.

2. Indian Bank requires 452 Probationary Officers. Last Date: 03.03.2012.

3. Steel Authority of India Limited, Rourkela requires 745 posts of Operator-cum-Technician (Trainees) and Attendant-cum-Technician (Trainees).               Last Date : 10.03.2012.

4. National Insurance Company Limited, Kolkata requires 345 Administrative Officer Scale-I (Specialist and Generalist). Last Date : 17.03.2012.

5. College of Military Engineering PO, Pune invites applications for 211 various Group ‘C’ posts. Last Date: 17.03.2012.

6. Nuclear Power Corporation of India Limited requires 105 Stipendiary Trainees (Scientific Assistant-B) and Stipendiary Trainees (Technician-B).                         Last Date: 19.03.2012.

7. NTPC Limited, New Delhi requires 60 Executive Trainees. Last Date 21.03.2012.

8. Indian Air Force requires 39 various posts of Cook, Lascar, Safaiwala, Watchman etc. Last Date: 21 days after publication.

9. Bharat Petroleum Corporation Limited, Mumbai requires 20 Process Technicians. Last Date: 31.03.2012.

10. Indian Space Research Organisation, Valiamala requires 14 Heavy Vehicle Drivers ‘A’ for LPSC Units. Last Date: 19.03.2012.

11. State Farms Corporation of India Limited, New Delhi requires 10 posts of General Manager/ Additional General Manager, Assistant General Manager, Manager and Management Trainee. Last Date: 17.03.2012.

The above-mentioned government job list are from the employment news 25th February, 2012 to 02nd March, 2012. If you are interested in any of the job vacancy, we strongly recommend reading the employment news for more details such as salary, experience. Educational qualification etc.

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Sunday, 26 February 2012

6 Steps to analyze your financial health

Analyze your financial health to know where you are. An investor must be aware his financial health and financial position. You invest money for getting profit or interest from your investment. This profit or interest makes your money grow and enable you to satisfy your financial goals. Here you have to know what you are and what you have and where you have to go. Following six simple steps help you to analyze and realize your financial health and position.

Analyze your financial health

1.Know your current financial position: This is an important step to analyze your financial health. Know your financial position. You must be aware that financially where you are. A majority of people do not know that they have any assets. Most of them think that only real estate or house property is considered as assets. But your bank investments, fixed deposits, Provident fund and even your savings account etc. are your assets. So in this first step you verify and realize your assets. Then you check your liabilities. Your loans, credit card bill and any other outstanding bills are your liabilities. Find out all of them. What you have and what you owe to pay off. Realize this and know what your financial position is? Now you can go ahead.

2.Know your income and expenditure: This is another important step you have to complete to analyze your financial health. It is not an easy thing to know all your expenses. But your income is counted and it may be from salary, interest, rent or form any business etc. But for your expenses you should do some homework. Note down all your expenses. If you could not remember, take your own time and note down your expenses daily in a note book with details of items and amount. For example, groceries, vegetables, fruit, medicine, tea, sugar, stationary, entertainment, conveyance, tuition fee of your children, petrol, newspaper etc. etc with amounts. When you list out all, you can realize and sometimes you may wonder what your expenses are. When you get awareof all these items, you can stop or cut down unnecessary expenses.

3.Know your savings: After knowing all your expenses you can easily find out your savings, the left over income of a month. Simply reduce your expenses from your income to get your monthly savings. If your monthly savings is very less check what expenses you can reduce or avoid. Do so and keep a few bucks more as balance. If you can increase your income, do so and reach out your actual monthly savings.

4.Know your bank accounts: Here you have to analyze all your bank accounts. You may have more than one bank account and each account may have some money as bank balance. Check them and found the balances left in each bank account. Check the cash inflow and outflow of your bank accounts. How the amount is credited and how it is debited and for what. Close all non operating accounts which may have some amounts are held up. Transfer these to your main bank accounts. Now you are in a position to know what you have and where you are. Then proceed to the next step.

5.Know your financial goals: Here you have to assign your financial goals. You must know what you want. Where you have to reach. If you do not have a goal you cannot reach it out. You decide what do you want and when do you want and how much you have to spend for the same. For example buy a residential house after 5 years with 25, 00,000. Higher education of eldest son after 2 years with 500,000.  Retirement at the age of 55 years and with monthly post retirement income of 1, 00,000 etc.

6.Know how to reach the financial goals: Last but not least you must decide how you can attain these financial goals. Here you must adjust your investment portfolio according to your financial goals. First check the time period you have to attain each financial goal. Then you invest in different methods of investments accordingly. If you have long time to reach a financial goal, take high risk and low risk combination and if you do not have much time go for safest investments.

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Now you are completely aware of your financial health and whereabouts. Go ahead with confidence; you can reach out all of them with high satisfaction. But keep in mind you must start it today itself. Do not put off for tomorrow. Start as much as early to get maximum benefit.

Saturday, 25 February 2012

Ten insurance related articles

A list of insurance related articles which help you to get an idea about insurnace and its needs, types of policies and many more.

LIC Jeevan Ankur child plan for the needs of child 
LIC Jeevan Ankur Child plan insures the life of insured parent for the protection of child, specially designed for education and other needs of your child. Continue reading ?
LIC online term life insurance plan launch soon 
LIC of India (Life Insurance Corporation of India) also coming with online term life insurance plan with low premium and high life cover. Continue reading ?

Car insurance quotes – avail cheapest car insurance policy 
Reduce you car insurance cost up to a certain extent and can avail maximum benefit from the car insurance policy by comparing insurance quotes carefully.Continue reading ?

Reliance life insurance protection plans for life cover 
Reliance life insurance offers (1) protection plans, (2) savings & investment plans, (3) child plans and (4) health plans. List of reliance protection plans Continue reading ?

Life insurance plans for individuals by LIC of India 
LIC of India has a number of life insurance plans for individuals. These insurance plans are best insurance plans suitable for various stages of life . Continue reading?

Reliance Life Insurance Money Multiplier Plan 
Reliance Life Insurance Money Multiplier Plan is an endowment plan from Reliance life insurance. It is a non linked non participating endowment plan Continue reading?

Factors decide the cost of your life insurance policy 
Cost of life insurance policy is the premium payable for a life insurance policy. The person who joins a life insurance policy should pay premium only. Continue reading?

Why Term life Insurance policy is not attractive 
Premium for term life insurance is comparatively very low than other life insurance policies. It gives nothing at maturity, but gives a large sum assured. Continue reading ?

LIC Bima Bachat, a single premium money back policy 
LIC’s Bima Bachat is a single premium money back policy offers life insurance till the maturity of the policy and 15% money back on every third year end. Continue reading ?

Basic types of life insurance policies 
Basic types of Life insurance policies are Term life insurance , Whole life insurance, Universal life insurance and Variable life insurance policies Continue reading ?


Development Fee in Children Education Allowance

Regarding Children Education Allowance and Hostel Subsidy, some more additional clarifications are made by the Ministry of Finance, Department of Expenditure. This is an important clarification which allows development fee also included in Children Education Allowance under certain conditions. And fee charged for catering included, only if it is under certain conditions. 

Development Fee in Children Education Allowance

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Notification is follows:-

Government of India
Ministry of Personnel, Public Grievances and Pension
Department of Personnel and Training

New Delhi, 21-02-2012


Subject: Children Education Allowance.

Subsequent to issue of Department of Personnel & Training’s O.M. No.12011/03/2008—Estt.(Allowance) dated 2nd September, 2008 and clarifications issued from time to time on the subject cited above, a number of references have been received on certain aspects of Children Education Allowance / Hostel Subsidy. After due consideration of the references, in consultation with the Ministry of Finance, Department of Expenditure, the following modifications/alterations are carried out with effect from the date of issue of this O.M. on pro-rata basis:

i. Development Fee/Parents’ Contribution charged by the school/institution in lieu of tuition fee shall be reimbursed. The Government servant will have to certify to the effect that tuition fee has not been charged by the school/institution.

ii. Fee charged directly by the school/institution for catering to the special needs of the child with disabilities, duly certified by the school authorities, shall be reimbursed in addition to items mentioned in para 1(e) of O.M. dated 2-9-2008. The school/institution shall be aided or approved by the Central/State Government/UT Administration or whose fees are approved by any of these authorities.

iii. The minimum age of 5 years, stipulated in O.M. No.12011/03/2008—Estt.(Allowance) dated 11th November, 2008, for disabled children, pursuing non-formal education or vocational training stands removed. Henceforth, there will be no minimum age for any child for claiming reimbursement of Children Education Allowance/Hostel Subsidy.

2. Cases where reimbursement has been made on the basis of earlier O.M, on the issues need not be reopened.


Friday, 24 February 2012

Does helps you to make Money or not?

There are so many money making offers in the internet. Most of them are helpful to make money only for the organizers, not for the users. Recently Wazzub also came with free money offers to its users or members with a slogan "The Power of We" the users. It claims that it is the world’s first profit sharing phenomenon. They are in pre launch and offer to pay a share of profit to all its users those who signed up before its launching and the expected date of launching is April 9, 2012. Wazzub offer $1 monthly for each member under your referral up to 5 levels.

There was a website called agloco also collected millions of membership free of cost with profit sharing offer and get memebrship from a majority of internet users at that time. So many internet users spend their time to sign up and get others singed up through different ways. But on beta test period itself they understood that they could not follow the offer which they have given to their users and they disappeared. All works of the users are vanished. to make Money or not?

Wazzub offers that they will share 50% of its profit to all its users from their activities. But the activities are not clearly defined. They claim millions of profit, but how? It is a strange phenomenon as they claim that they are particular in its kind. Wazzub offer a login page which is helpful to login wzzub to know your referrals.  You may think that this is a wazzub scam, but yet to be identified.

They clearly defined that they never ask money from its users. So the users should not pay any money to them. But Wazzub ask users to refer more people to their website through the referral link they offer to all users. But they urge that each wazzub signups should verify their email id by clicking the link automatically sends to theusers email inbox. They said that they pay only to its verified members before the pre launch period. And they recommend that each users should make sure that the referrals are verified their email ids.

Wazzub dashboard shows only the members and referral names, date of joining, number of referrals, email ID and the status of verification. No any other information. They have a blog which narrates their activities. But these are not the proof of their reliability.

This short review about is just for information to my readers about the largely spreading internet money making activity which is yet to be confirmed. Nobody is sure about its activities.

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Thursday, 23 February 2012

Multi Commodity Exchange of India Ltd (MCX) IPO

Multi Commodity Exchange of India Ltd (MCX) issues Initial Public Offer (IPO) of 6,427,378 Equity Shares with a face value of Rs. 10 each. Multi Commodity Exchange of India Ltd (MCX) has its headquarters in Mumbai and recognized for online trading, clearing and settlement operations for commodity futures in India. The Company started operation in November, 2003 and now it has around 2150 registered members and operating through 296000 (approx.) terminals and these trading terminals spread around 1570 cities all over India.

The Multi Commodity Exchange of India Ltd (MCX) offer 6,427,378 Equity Shares with a face value of Rs. 10 each as per the following details.

Opening Date of IPO: The Multi Commodity Exchange of India Ltd (MCX) IPO opened on 22nd February, 2012.

Closing Date: The IPO will be closed one 24th February, 2012.

Issue Type: Multi Commodity Exchange of India Ltd (MCX) IPO is 100% Book Built Issue IPO with an issue price bid is between Rs. 860 to Rs. 1032 per equity shares.

Minimum Order Quantity: The minimum number of shares to be applied is 6 equity shares.

Number of Equity Shares: Total number of equity shares issue through this Multi Commodity Exchange of India Ltd (MCX) IPO is 6427378 with face value of Rs. 10 each.

IPO Listing: The IPO listing will be in Bombay Stock Exchange (BSE)

Multi Commodity Exchange of India Ltd (MCX)IPO At a glance:

Issue Open: Feb 22, 2012 - Feb 24, 2012

Issue Type: 100% Book Built Issue IPO

Issue Size: 6,427,378 Equity Shares of Rs. 10

Issue Size: Rs. 552.75 - 663.31 Crore

Face Value: Rs. 10 Per Equity Share

Issue Price: Rs. 860 - Rs. 1032 Per Equity Share

Market Lot: 6 Shares

Minimum Order Quantity: 6 Shares

Listing At: BSE

Rating of IPO: CRISIL rated the Multi Commodity Exchange of India Ltd (MCX) IPO with Grade 5 and we can expect strong fundamentals with this grade 5 rating.

Multi Commodity Exchange of India Ltd (MCX)IPO

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Tuesday, 21 February 2012

Is it feasible to seek debt relief on your own?

When you’re overburdened with a huge amount of credit card debt and when you don’t have enough funds to make ends meet, you must be thinking of seeking debt relief by getting help of professional debt relief companies. However, did you know that it is always better to get debt relief on your own as you can save a considerable amount of money in the fees and success charges? Well yes, there is nothing that the debt relief companies will do for you and that which you can’t do on your own. Here are some DIY debt relief steps that you can take on your own in order to get rid of high interest debt burden.

Formulate a frugal budget and follow it: The spiraling consumer credit card debt level among the Americans is probably due to the large number of people who don’t follow a budget and if you’re one among them, you should immediately create a budget so that you can keep a close watch on your pennies. Make sure that you follow the budget throughout the month so that you don’t have to scrimp at the end of the month. Also evaluate the budget so that you may keep space for improvement.

Create a rainy-day fund: Unless you keep aside a certain portion of your money from what you earn in a month, you can never save money in the way you want. Experts are of the opinion that you should save at least 10% of what you make in a month so that you can create a rainy day fund that can be useful during a credit crunch. If you don’t have enough income, you shouldn’t postpone the idea of saving money. Instead, your aim should be to save money irrespective of what you make in a month.

Curb the usage of credit cards: You should curb the usage of your plastics as much as possible so that you don’t dig yourself further into the credit card debt hole. Stuff your wallet with cash and resolve to buy the things that you simply can’t do without. The more you spend, the more you’ll be closer to leading a lifestyle that is above your means. Therefore, write down your expenses and always try your best to keep them way below your income level.

Get professional help: When you feel that you can’t manage your high interest debts on your own, you should not delay getting help. You should look for professional debt help from any debt relief company like the debt consolidation, debt settlement or credit counseling agency. Make sure you reduce the interest rates and repay the entire amount without failure.

Thus, when you’re contemplating bankruptcy, you should give a second thought so that you don’t trash your credit score in the long run and prove yourself to be unworthy of getting new lines of credit at an affordable rate. Go for the DIY debt relief options and get back a grip on your finances.

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Monday, 20 February 2012

Job highlights of Employment News 18 Feb - 24 Feb 2012

In Employment News Weekly there are a lot of government job vacancies. If you are looking for a good government job, Employment News is a good publication to find job vacancy list. Important job highlights of Employment News 18 FEBRUARY 2012 -24 FEBRUARY 2012 are shown below for our readers and visitors. Salary from a permanent job is one of the main sources of income. So go through this job vacancies and if found a suitable one, please refer the employment news for more details. This time the last date of submitting application also listed with each vacancy.

Council of Scientific and Industrial Research, New Delhi notifies Joint CSIR-UGC Test for Junior Research Fellowship and Eligibility for Lectureship.        Last Date: 21.03.2012.

Officers Training Academy, Gaya (Bihar) invites applications for 498 posts of Gardner, Groom, Cadet orderly, Masalachi, Mess Waiter, Safaiwala, Groundsman, Fatigueman, Chowkidar, LDC, Stenographer Grade II, Civilian Motor Drivers etc. Last Date: 21 days after publication.

The Corps of Electronics & Mechanical Engineers invites applications for recruitment of 497 Group ‘C’ posts. Last Date : 21 days after publication.

Engine Factory, Avadi requires 89 posts of Machinist, Fitter, Examiner, Electrician, Millwright etc. Last Date : 21 days after publication.

Cent Bank Home Finance Limited, Bhopal invites applications for recruitment of 67 officers and Executives. Last Date : 10th March 2012.

Western Coalfields Limited, Nagpur requires 51 Staff Nurse Trainees, T&S Grade ‘C’. Last Date: 09.03.2012.

EDGC invites applications for recruitment of 30 Probationary Executive Officers. Last Date: 03.03.2012.

Machine Tool Prototype Factory, Ambarnath invites applications for 26 posts of Storekeeper and Durwan (Male). Last Date: 21 days after publication.

Indian Institute of Tourism and Travel Management, Gwalior requires 19 Assistant Professors. Last Date: 19.03.2012.

Staff Selection Commission notifies recruitment of Sub-Inspectors in CAPFs and Assistant Sub-Inspector in CISF, Examination, 2012. Last Date: 16.03.2012.

The above mentioned job vacancies are the job highlights of employment news 18 FEBRUARY 2012 -24 FEBRUARY 2012. Please go through the list to find a suitable one. Read the employment news for further details. Please note to apply in time before the last date shown with each vacancy.

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Sunday, 19 February 2012

Minimum Wages Act Coverage for all Employments

The Detailed recommendations made at the 44th Indian Labour Conference held at Vigyan Bahavan, New Delhi. These recommendations are mainly regarding Minimum Wages, Social security and Employability & employment.  These recommendations  are for activating minimum wages for all categories and increasing the minimum wages as per the current economical conditions, increasing minimum wage level in Employees Provident Fund, Regarding maternity leave etc. Just read as a detailed report published by press information bureau.

Key Recommendations of 44th Session of Indian Labour Conference

Minimum Wages Act Coverage for all Employments

Raising The Wage Ceiling in the Employees Provident Fund, Enhancement of Pension Under Employees Pension Scheme 95, Portability of PF Account, Reduction in the Requirement of Minimum Continuous Service, Etc.

Stress on Matching the Large Scale Skilling Targets with Creating Similar Number of Openings in the Area of Employment

Maternity Leave Under the Maternity Benefit Act be Increased from the Present Level of 12 Weeks to 24 Weeks

Union Labour & Employment Minister Shri Mallikarjun Kharge today detailed about the recommendations made during the 44th Indian Labour Conference concluded atVigyan Bhavan, New Delhi. Addressing the media persons he said this Session of the Indian Labour Conference had elaborate discussions on three agenda items - (i) Minimum Wages (ii) Social Security and (iii) Employability and Employment.

The Conference was inaugurated by Hon’ble Prime Minister of India.   The Conference was attended by Labour Ministers from 14 State Governments. All the major 12 Central Trade Union Organisations and 6 major employers’ organisation participated in the Conference.  Besides, senior officials from 23 Central Ministries and all State Governments/UTs attended the Conference.  The International Labour Organisation Experts based at Delhi were also present.

Shri Kharge referred the Prime Minister inaugural address in which he emphasized the great importance that the UPA Government attaches to the promotion of healthy industrial relations and well being of our workforce.

Shri Kharge said   our huge unorganized sector poses great challenges in ensuring quality employment and extension social security coverage.  Minimum Wages are an important means of protecting the interest of the workers were not in the formal sector. Our flagship health insurance scheme “Rashtriya Swasthya Bima Yojana” has covered 2.5crore Below Poverty Line families and this Scheme is being extended to cover other category of workers.

According to the minister the Conference Committee on “Minimum Wages” recommended that the Minimum Wages Act should cover all employments and thus facilitate India’s ratification of ILO’s Convention No.131.  There was convergence of views towards making National Minimum Wages and make it applicable to any employment irrespective of the number of workers engaged.  Objective suggestions were made for linking minimum wages with NSSO Consumer Expenditure Survey and inflation.

Also the Conference Committee on “Social Security” had very focused discussion and came out with specific recommendations in the areas of raising the wage ceiling in the Employees Provident Fund, enhancement of pension under Employees Pension Scheme 95, portability of PF Account, reduction in the requirement of minimum continuous service, etc.   The Committee addressed the gender issues by recommending enhancement of maternity leave.  The MSME Sector and unorganized sector workers received special attention of the committee members.  Our Ministry’s RSBY Scheme has achieved a lot of success and various recommendations were received for bringing other category of workers under its coverage and adding other type of benefits in addition to the existing ones.

Moreover, the Conference Committee on “Employability and Employment” recommendations laid stress on matching the large scale skilling targets with creating similar number of openings in the area of employment.  Labour intensive industries need to be promoted and protected.  The forthcoming National Employment Policy should be able to provide enabling framework for facilitating employment generation and decent work in the unorganized sector.  The Labour Market Information System should give real time information about skill requirements and skill availability. Other innovative suggestion were bringing the traditional skills under the certification system and involving MSMEs in skill development.  The road map for skilling 500 million persons by 2022 should be finalized in consultation with the tripartite partners.

Shri Kharge said, this Session of the Conference carried forward the rich tradition of healthy social dialogue, spirit of accommodation and keeping interest of our workforce as the top most priority.   The tripartite partners have shown full concern to the important responsibility we have towards our country’s growth and safeguarding the basic interest of our workers.  We will be very closely following up with the implementation of policy solutions arrived at the Conference and the same will be reviewed in the meeting of the next Standing Labour Committee.

The Recommendations of the Conference Committee on Employability and Employment are:

1.  Employment generation and Employability should be top agenda of the Govt.

4.  Investment in labour intensive industries should be promoted and incentivised.

5.  Labour Market Information System should be established to get skill requirement from the industry and available skills from the institutes. In this regard, employment exchanges may be modernized for providing virtual job market on real time basis.

6.  Skill mapping should be done at the local level and inventory of skill assets should be created.

7.  ITIs should also focus on sectors beyond manufacturing and should concentrate on service sector. There is urgent need for quality assurance measures in training of ITIs and instructors.

8.  Emphasis should be laid on development of infrastructure including storage, processing and marketing in rural areas and agro-based industries.

9.  ITIs should focus more on popular trades keeping in view the requirement of the local industries.

10.Institutional arrangements  for providing training in traditional skills should be encouraged and may  brought under certification system.

11.Public awareness programme should be taken up, particularly in rural areas regarding the importance of skill development and certification of traditional skills.

12.There should be functional and spatial integration of State and Central infrastructure and other available resources for optimal utilization of resources.

13.MSMEs should be encouraged and supported to participate in the skill development efforts.

14.Stipend of apprentices under the Apprentices Act should be enhanced.

15.Existing and new Centres of Excellence/Clusters in traditional crafts should be strengthened and provided support in terms of marketing, credit, new technology, etc. to promote self-employment.

16.Barriers should be removed from skilling and certification of illiterate and uneducated workers.

17.Entrepreneurship and self-employment should be encouraged by providing necessary support.

18.Existing employment in the unorganized sector should be safeguarded by assuring access to natural resources for those sectors dependent on them.  In order to increase their productivity, appropriate advanced tools and technology for traditional producers should be developed.

19.    Skill development should be promoted among the women and differently-abledpersons.  To increase participation of women in skill development, special measures should be taken.

20.    Centres of Excellence should be established at the national and State levels  which  will produce world-class technicians.

21.    National level consultation with all the stakeholders should be held immediately to finalize the road-map for preparing skill development plan leading to skilled force of 500 million persons by 2022.

22.    Comprehensive steps should be taken to create environment for employment generation and protection.

23.    Trainers should be trained in large numbers to meet growing requirement.

During the Conference a Committee was constituted to discuss Agenda Item No.(i) concerning Minimum Wages  and related issues. These issues, inter alia, include norms for fixation/revision of minimum rates of wages, Variable DearnessAllowance(VDA),  National Floor Level Minimum Wages etc. On the basis of detailed discussion, the following points emerged.

1.  There was consensus that the Government may fix minimum wages as per the norms/ criteria recommended by the 15th ILC (1957) and the directions of the Hon’bleSupreme Court (Repttakos Co. Vs Workers’ Union) 1992.  The Government may take necessary steps accordingly.

2. There was a broad consensus that the Minimum Wages Act should cover all  employments and the existing restriction for its applicability on the scheduled employments only should be deleted. This will also help India ratify ILO Convention No.131.

3.  It was broadly agreed that there should be national minimum wages applicable to all employments throughout the country.

4.There was broad agreement on the amendment proposals as listed out in Para5(iv,  v & x).

5.  In respect of 5 (iv), it was pointed out that the payment  to the apprentices should   be treated differently from the other categories.

6.The Committee noted that at present there are 12 States/UTs who have not adopted  VDA. There was a broad consensus that all States/Uts should adopt VDA.

7. It was also recommended that the payment of minimum wages should be done through Banks/Post Offices etc.

8. As regards 5(vi), it was felt that the enforcing agencies should not be given the power of adjudication and, therefore, this proposal should be re-examined.

9. The proposal of paying different minimum wages in respect of same employment    either in the Centre or in the State should be done away with.

A Conference Committee was also constituted to discuss the agenda item No. (iii) i.e. “Social Security”.  On the basis of detailed discussions, the following points emerged :-

(i) There was a broad-based consensus that the wage ceiling for the application of EPF Act be increased from the present level of Rs.6,500/- to Rs.10,000/- or Rs.15,000/- as already applicable for the ESI Corporation.  Similarly, the ceiling for workers covered under EPF Actbe reduced from 20 to 10.  However, Laghu Udyog Bharati was not agreeable to this reduction in ceiling of number of workers.

(ii)Minimum pension under the EPS 95 be increased to some floor level, which should not be less than Rs.1,000/-,  since a large number of workers receive pension which is less than that provided by the State Governments for elderly people which is normally in the range of Rs.400/- to Rs.1000/-.

(iii)The PF Accounts be computerized urgently so that the workers are able to avail the facility of PF transfer and settlement immediately. Smart Cards like RSBY be issued to PF account holders.

(iv)Minimum ceiling of 5 years of continuous service be reduced in case of gratuity and gratuity be made transferable in case of change of job by the employee.

(v)The maternity leave under the Maternity Benefit Act be increased from the present level of 12 weeks to 24 weeks.  This increased maternity benefits be made available only upto two children, while the lowerlimit  be continued for more than two children.

(vi)Accountability on the part of organizations implementing the social security schemes be fixed in order to ensure that the beneficiaries receive the deliverables in time.  Citizen Charters for these organizations be finalized early.

Courtesy : PIB

Friday, 17 February 2012

SBI Tax Advantage Fund-Series II of SBI Mutual Fund

SBI mutual fund launched SBI Tax Advantage Fund – Series II on 22nd December, 2011. The Second series of SBI Tax Advantage Fund is a close ended ELSS (Equity Linked Savings Scheme) for 10 years. The objective of the newly launched tax saving mutual fund is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related instruments of companies across large, mid and small market capitalization.

SBI Tax Advantage Fund-Series II

Face Value: The face value of one unit of the SBI Tax Advantage Fund – Series II is Rs. 10 in New Fund Offer period.

Opening and Closing date: The New Fund Offer of SBI Tax Advantage Fund – Series II opened on 22nd December, 2011 and will be closed on 21st March, 2012.

Minimum Subscription: The minimum required investment of the Tax Saving ELSS is Rs. 500 and multiples of Rs. 500 thereafter

Lock in period: The SBI Tax Advantage Fund – Series II mutual fund is 10 years close ended fund with a lock in period of 3 years.

Benefits of the SBI Tax saving fund: The First and foremost benefit of SBI Tax Advantage Fund – Series II is Tax Saving under section 80C which allows a deduction from income upto and investment of Rs. 100000. Capital appreciation and Tax free return are other two benefits of the newly launched SBI Tax Advantage Fund.

Investment options: The SBI Tax Advantage Fund – Series II is available in Growth option and dividend payout option.

Asset Allocation: The investment allocation of the new SBI Tax advantage fund is 80-100% in Equity and Equity related instruments with high risk profile and 0-20% debt and money market instrument with low & medium risk profile.

Entry load and Exit Load: There is no indication of entry load and exit load for the mutual fund. The entry is only on the new fund offer period and as a close ended fund there is no any exit load also.

SBI Tax Advantage Fund - Series II is an ELSS scheme which allows Tax exemption under section 80C of Income tax act and those who invest Rs. 100000 in ELSS or any other tax saving investment can get a tax exemption of Rs. 10300 in  10% Tax Slab, Rs. 20600 in 20% Tax Slab and Rs. 30900 in 30% Tax slab. And the ELSS is the only tax saving investment which has the lowest lock in period of 3 years. The capital gain and dividend from the ELSS are tax free in the hands of investor, but the pooled money is invested in equities and so the risk profile is very high.

Related psots

New Fund Offer (NFO) available in the market

List of tax saving mutual funds (ELSS) & Fund houses


Thursday, 16 February 2012

Eight investment mistakes must avoid by an investor

In investment you must know that the theory and practice of investments. Investment means depositing or spending money in any investment opportunities with the expectation of making more money in the form of interest or profit. This may say growth, dividend, interest, income or anything which increase the value of invested instruments or earnings from the invested items. These investment methods follow some basic principles which cannot be violated successfully. So all investors must keep in mind the following matters and should avoid it for your secure growth of investment.

An investor must avoid anything which violates the basic principles of investment.

Quick rich programs: You must be aware that no any investment makes you rich immediately. Investments give you only stable return or fluctuating return. But it does not make you a multibillionaire in one day or two. If anybody claims so, you must simply avoid it for the safe side of your money and investment.

Risk & return: This is one of the important principles of investment that if there is a high return there must be high risk. Some safest investment like fixed deposit in banks offers you a stable return, but not high return. It could offer you only normal rate of interest as per your low of land. There is no high risk and high return in it. But volatile stock market can give you a high return and at the same time it is high risky also. Anything against this risk & return principle must be avoided.

Blindly follow past performance. You might seen that the footnotes on mutual fund advertisements that, Past performance is not supposed to repeat in future. You must not invest in any financial instruments just by seeing its past performance. A mutual fund may perform adversely in future and even real estate also may fall in future with any reason. So analyze well before investing in any financial instrument or property.

Invest only in one type of investment: This is one of the common investment mistakes of a good portion of investors do. If you invest all your effort in one type of investment, it may fail and you suffer a heavy loss. So diversify your investment in a handful of investment methods and schemes. If one fails others win.

High Cost of Investment: Cost of investment also an important matter which may affect your investment adversely. Fees and other related expenses may reduce your net income. Even tax also reduces your income a lot. So plan your investment cost effective and tax effective as per the law of the land.

Follow the multitude: This is one of the important mistakes an investor must avoid. You should not follow others while investing. You should create your own strategy to invest. You can get advice from others and take your own decision. Do anything with your own strong decision and certainty.

Ignorance: You should invest only with full conscious and knowledge. Without having a thorough knowledge and awareness you must not invest in anything.

Invest without a goal: A financial goal is a must for all investment. If you don’t have a goal you could not reach anywhere. So you must have certain predefined financial goals to invest your hard earned money.

Avoid the abovementioned eight investment mistakes to become a successful investor. If you follow strictly these things you can be a good investor and can harvest well from your investment and can reach all your financial goals in time.

Related posts

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Wednesday, 15 February 2012

New Fund Offer (NFO) available in the market

New Fund Offer (NFO) or New Mutual Fund Offers are launching of a new mutual fund available to invest by public. This is just like initial public offer (IPO) of shares. Mutual funds are launched by mutual fund houses and these mutual funds are open for public. In the New fund offer period mutual funds are available to investor in face value and after the NFO period it is available only in NAV or net asset value of mutual fund which is normally higher than the face value, if the performance of the fund is better.  

There are different types of mutual funds available in the market. One can choose these mutual funds as per the risk bearing capacity and financial goals of the investor. Different types of mutual funds are available in the market and each one of them specially designed for the investors needs.

One can invest in these mutual funds at the New Fund Offer period and can redeem whenever you wish to get back the money. Some mutual funds are open ended and can sold at any time the investor needs to redeem and some are close ended mutual funds which can redeem only after a lock in period.

The following table shows the summary of new fund offers presently launched and available in the market for investors. Go through the mutual fund heads to know more about each mutual fund. The below mentioned new fund offers are from the following fund house (Mutual fund house)

AIG Global Investment Group Mutual Fund
Axis Mutual Fund
Birla Sun Life Mutual Fund
BNP Paribas Mutual Fund
Canara Robeco Mutual Fund
DSP BlackRock Mutual Fund
Fidelity Mutual Fund
Franklin Templeton Mutual Fund
HDFC Mutual Fund
HSBC Mutual Fund
ICICI Prudential Mutual Fund
IDBI Mutual Fund
IDFC Mutual Fund
IIFL Mutual Fund
ING Mutual Fund
JPMorgan Mutual Fund
Kotak Mahindra Mutual Fund
LIC NOMURA Mutual Fund
Morgan Stanley Mutual Fund
Peerless Mutual Fund
Quantum Mutual Fund
Reliance Mutual Fund
Religare Mutual Fund
SBI Mutual Fund
Sundaram Mutual Fund
Tata Mutual Fund
UTI Mutual Fund
And many more......

Latest New Fund Offer (NFO)

Tuesday, 14 February 2012

Infrastructure bonds presently available in the market

Infrastructure bonds are good options to get additional income tax exemption of Rs. 20000 under section 80CCF of income tax rule. This is the eleventh hour to invest for income tax exemption. The following infrastructure bonds are presently available in the market. You can invest in any of these infrastructure bonds as per your interest for availing additional tax exemption under section 80CCF. You can save Rs. 2060, Rs. 4120 & Rs. 6180 for 10%, 20% & 30% income tax slabs respectively. These are IDFC infrastructure bonds, L&T Infrastructure bonds, PFC infrastructure bonds and Seri infrastructure bonds.

Infrastructure bonds presently available

IDFC Ltd Long Term Infrastructure Bonds Tranche 2

Opening Date                   :  11.01.2012

Closing date                     :  25.02.2012

Face Value of one bond   :   Rs. 5000

Minimum order quantity  :   2 bonds

Lock in period                  :   5 years

Interest payment option   : Cumulate or Annual Payment

Rate of Interest                 :   8.7%

Maturity period                : 10 years

L&T Infra Bonds 2012 A Tranche 2

Opening Date                   :  10.01.2012

Closing date                     :  25.02.2012

Face Value of one bond   :   Rs. 1000

Minimum order quantity  :   5 bonds

Lock in period                  :   5 years

Interest payment option   : Cumulate or Annual Payment

Rate of Interest                 :   8.7%

Maturity period                : 10 years

PFC Secured Long Term Infrastructure Bonds Series 2

Opening Date                   :  29.12.2011

Closing date                     :  29.02.2012

Face Value of one bond   :   Rs. 5000

Minimum order quantity  :   1 bond

Lock in period                  :   5 years

Interest payment option   : Cumulate or Annual Payment

Rate of Interest                        :

10 years Cumulative        :   8.93%

10 years Annual interest  :   8.90%

15 years (both options)    :   9.15%

Maturity period                : 10 years & 15 years

Seri Infrastructure Finance Ltd Secured Redeemable Non Convertible Debentures Tax Free Bonds

Opening Date                   :  31.12.2011

Closing date                     :  06.03.2012

Face Value of one bond   :   Rs. 1000

Minimum order quantity  :   1 bond

Lock in period                  :   5 years

Interest payment option   : Cumulate or Annual Payment

Rate of Interest                 :

10 years (both options)      :   8.90%

15 years (both options)    :   9.15%

Maturity period                : 10 years & 15 years

The above mentioned IDFC infrastructure bonds, L&T Infrastructure bonds, PFC infrastructure bonds and Seri infrastructure bonds are presently available in the market. You can avail additional income tax exemption of the income of Rs. 20000 under section 80CCF through these infrastructure bonds. To invest any of these infrastructure bonds, please log in to your demat account or apply online through the website of each infrastructure bonds. You can purchase these infrastructure bonds through banks or from authorized agents.

Related posts

Get Additional Tax Exemptions under Section 80CCF

Infrastructure Bond for Additional Rs. 20000 exemption under section 80CCF


Monday, 13 February 2012

Job highlights of Employment News 11 Feb -17 Feb 2012

Government job vacancies are advertised in Employment news weekly and the current edition of employment news also has a lot of government job lists enclosed. Following are the important job highlights of Employment News 11th February 2012 – 17th February 2012. This is for the convenience of our readers and visitors those who are seeking a good government job. If you are interested to apply for any of these vacancies, we highly recommend you to refer the current employment news for more details.

Union Public Service Commission notifies Civil Services Examination, 2012.

Union Public Service Commission invites applications for various posts.

Export-Import Bank of India requires Management/MM-II and Chief Manager/MM-III.

Bharatiya Nabhikiya Vidyut Nigam Limited, Kalpakkam requires Technical Officer/C in various disciplines.

Indo-Tibetan Border Police Force requires Constables (Geneal Duty) Group ‘C’ under Special recruitment drive in J&K State.

Indo-Tibetan Border Police Force, New Delhi requires GDMOs and Specialist Doctors.

Employees’ Provident Fund Organisation, New Delhi requires Social Security Assistants.

Central Industrial Security Force requires Constables/Drive and Constable/Drive-cum-Pump-Operators.

Directorate General Border Security Force, New Delhi requires SI (Master)/SI (Engine Drive)/HC (Master)/HC (Engine Drive)/HC (Workshop)/CT (Crew) in BSF Water Wing.

Directorate General Border Security Force, New Delhi invites applications for the posts of Technicians (different Posts) for Motor Transport Workshop Cadre and Technicians (Different Posts) for BSF Air Wing.

Indian Air Force invites applications from male aspirants for selection as a Senior in Group ‘X’ (Education Instructor) Trade.

The abovementioned government job vacancies are the job highlights of Employment News 11th February 2012 – 17th February 2012. If you wish to apply any of the abovementioned job vacancies, refer the current issue of the employment news weekly for more details such as pay scale, experience, how to apply and many more details.

Related posts

Job list in Employment News 04th February 2012

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Job lists in Employment News 21 January 2012

Sunday, 12 February 2012

How to save money with your credit card, 16 tips

Your credit card is a wonderful plastic instrument of credit and at the same time you can save money with it. When the term saving related with money, remember the old slogan, little drops of water make a mighty ocean. While you save money with your credit card, you can count a good amount of money saved for a long while. Keep the following money saving tips which explains you how to save money while you use your credit card.

Ask for a credit card with free annual charges. Normally credit cards charge an annual fee according to the type of credit card. But if you bargain while apply for a credit card, they allow you a credit card with free annual charge. Only thing is that you may have to use the card for a certain limits. This is the first tip to save money with your credit card

Always use a partnership card. Second and important tips to save money with credit card are partnership card. There are partnership credit cards such an Indian oil credit card, first citizen credit card etc., which allows you to redeem the reward points while you purchase their products. You should keep in mind that while you select a partnership credit card, chooses partnership with your regular purchasing items. For example, if you have a car or motorbike you can ask for a partnership credit card with Indian oil or any other petroleum company which allow you to redeem your reward points for the purchase of oil. And such credit card gives more reward points for the purchase of their own product.

Pay credit card bill in time. One of the important tips to save money with credit card is pay credit card bill in time and it must be 3 to 4 days before the due date. The late payment or nonpayment attracts penalty and interest which makes a big hole in your wallet. And try to pay full amount of the bill, do not just pay the minimum amount. If you could not pay the full amount make it in EMI which attracts lower interest rate.

Pay credit card bill online. If you pay credit card bill online from your online net banking account the payment will be credited in time and can avoid loss of money due to the dishonoring of your check by any possible reason.

Keep away the credit card from your wallet.  Always keep the credit card in a safe place in your home. Do not use your wallet for keeping your credit card. Even if it is not convenient this is the next tip to save money with credit card. This can avoid the tendency of purchasing more and also minimize the chance to lose and misuse your credit card.

Apply the thirty day rule. Think before you make any unnecessary or luxury purchase with your credit card. The thirty day rule is that just wait for thirty days before making such unnecessary purchase or luxury purchase.  This time period is for taking a decision about the necessity of your purchase. If you feel that you still need such item, you can purchase it, unless you can save that money.

Do not blindly imitate others for purchase. This tip of save money with credit card is also valuable one. When you purchase with your credit card, never follow or imitate others. Purchase only if you need the item and this can reduce your credit card bill up to a certain extent.

Prepare a list for shopping. Make a list before shopping and stick around the list. Do not fall prey of fancy items displayed in the shop. Such fancy unnecessary items increase your credit card bill. You should Plan carefully before going for a shopping.

Do not accept an add on card. An add on card is a credit card with the same credit card number you have and it named your spouse of kids. If they are not strict in purchase, it adds up a big figure in your credit card bill.

Ask your credit card provider for a reduced rate. If you have balance in credit card to pay, just call the credit card provider and ask for a reduced rate of interest and tell them that you may go for another credit card provider. If you are a good customer they may accept your request and can save some money.

Examine your credit card bill regularly and carefully. This tip of save money with credit card is a must to follow. You have to check your credit card bill regularly for any mistake or unknown purchases or any interest or service charge. If you find anything unusual call the customer care and rectify it. If you sign up online in your credit card account, you can check these items conveniently.

Use bill pay for your regular payments. This is another important tip of save money with credit card. Your credit card company allows you to register your regular bills and insurance premiums with your credit card. It will automatically pay your bills and will give you an alert or take confirmation from you before and after payment as per your settings. Some bill pay accounts give you a certain percentage of cash back for such payments. You can save money while you pay bill in time and with the cash back.

Do not save your credit card number in your online account. For convenience you may save the credit card number in your online account and this may leads more purchase. Avoid such circumstances and if you already saved the number, remove it soon.

Avoid visiting trade fares and malls for entertainment. If you visit trade fare or business malls just for an entertainment, it may increase the chance or unnecessary purchase and a huge credit card bill.

Wait a few second before purchase online. While you making an online purchase, just wait ten to fifteen seconds and think that the items is necessary for you or not. If you could not find a satisfied answer remove it from cart.

Do not reach Rs. 200000 annual credit card bill. This tip does not save money with credit card but it avoids a lot of troubles. As per the income tax rule you must declare your annual credit card bill amount with your income tax return, if the total annual amount is Rs. 200000 or more. Avoid unnecessary troubles by reducing your annual credit card bills.

If you keep all the above mentioned tips to save money with your credit cards, you can save a good amount of money and can reduce your expenses a lot.

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Friday, 10 February 2012

How to avail income tax exemption under 80C wisely

As an income tax payer you are aware that you can avail personal income tax exemption up to Rs. 100000 of your income under section 80 C of income tax act. If you plan wisely you can reach this income tax exemption limits easily. Under Section 80C you can save a tax of Rs. 10300 in 10% tax slab, Rs. 20600 in 20% tax slab and Rs. 30900 in 30% tax slab including Education Cess of 3%.  According to the priority of payment, exemption in income tax under section 80C can classified in to three categories. (1) Unavoidable payments, (2) short term tax saving investments and (3) long term tax saving investments.

Unavoidable Payments: First priority of payments for personal income tax exemption under section 80 C must be your unavoidable payments. These are investment in

Employees Provident Fund,

Tuition fee of your children,

Repayment of housing loan (principal amount) and

Life insurance premium.

These payments are compulsory payments and normally, you cannot escape from them. But you can use these payments to cover your income tax exemption limits of Rs. 100000 under section 80C

Short term tax saving investments: Some short term investments also help you to get exemption in income tax under section 80C. If the abovementioned unavoidable payments do not cover your income tax exemption limits you can go for short term tax saving investments for your personal income tax exemption. These short term investments are

ELSS (Equity Linked Saving Schemes or Tax saving mutual funds) and some

ULIPs (Unit Linked Insurance Plans).

These investment plans allow exemption in income tax and at the same time it allows a lock in period of 3 years. You can withdraw money after three years as per your needs and financial goals. But these investments have market risks and you should check whether these investment plans are as per your risk bearing capacity.

List of Tax Saving Mutual Funds (ELSS)

Long term tax saving investments: These investments also allow you exemption in income tax under section 80C. If the abovementioned personal income tax exemption instruments do not cover the income tax exemption limits of Rs. 100000 under section 80C or you are not ready to bear the market risk of short term tax saving investments, you can choose long term tax saving investments which has a secure and safe nature. Those are

NSC (National Saving Certificates) with 5 years lock in period,

Tax Saving Fixed Deposits – Lock in period 5 years,

Senior Citizen Saving Scheme (SCSS) – 5 years,

PPF or Public Provident Fund (15 years – but can make conditional withdrawals after 6 years),

Infra Structure Bonds (5 years lock in period, but gives an additional exemption of Rs. 20000 also under section 80CCF) and

NABARD bonds (5 years).

You can go for any of these tax saving plans for getting exemption in income tax as per your priority, risk bearing capacity and financial goals. Out of the above long term tax saving schemes, PPF is ideal as a personal income tax exemption instrument. Whatever may be your tax saving plans, you should cover your income tax exemption limits under section 80 C every year so that you can save tax and also create an investment habit.

More benefits for NSC, PPF & Small Saving investments

Wednesday, 8 February 2012

How Credit card helps to improve your credit score

Credit card is a smart card which helps you to avail instant credit up to a certain limit without any difficulties. But credit card is not only act as a plastic money which allows you to purchase anything online or offline but also act as a good instrument to avail you any type of loan. Credit card plays an important role in your credit score which helps you to get loans. Free credit card report and score without creditcard is not easy. 

When you apply for a loan the financial institution look for your credit score and this credit score is an important yardstick for measuring your ability to get a loan. Credit score measures in three digit numbers and mainly it comes between 300 and 900. If your credit score is high the chances of getting a loan is high with your free credit card report and credit score.

Your credit card details reveals almost all financial information including your purchasing power, your financial stability, how you payback credit  card bill, are you paying only minimum payment or there is any default in paying credit card bill etc. etc. Your credit card shows your whereabouts, you identity etc. Use your credit card wisely for improving your credit score.

Your credit report has includes your identity and all records of your loan repayment and credit card bill repayment history. So try to get a credit card with top brand name. It helps you to bring your credit report very high and favorable.

Your credit limit improves your credit score, even if you are not using it fully or not purchasing anything. So request a credit card with high credit limit or ask your credit card provider to enhance your credit limit. A high credit limit shows a high credit score.

Close your credit card wisely: if you hold a credit card for a long period of time it ads advantage for you. So do not close any credit card or if you want to close, close the new one than the old one. A credit card company is ready to render their service to you for a long period means that you are valuable for them and your credit score also will be high.

If you are paying prompt for a long time you can ask them for lower interest rate and the credit card provider may allow this as a benefit for you.

Do not overcome your credit limit and try to use only around 50% of your credit limit which gives an impression that you are not a person who overcomes the limits and you have a control over your financial matters.

Pay off your credit card in time and do not keep it pending and default. This prompt and timely payment keeps your credit limit high.

So use your credit card wisely and it helps you to improve your credit score and at the same time you can avoid bringing a lot of liquid cash with you.



How Credit card helps to improve your credit score

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Tuesday, 7 February 2012

How Investment in stock Works, free stock investment tips

Any time you are going to be putting your money into a fund; it is a good idea to start by understanding what you are buying into.  The stock market is a complicated entity.  Know how Investment in stock works, it requires a fair amount of basic knowledge,  understanding and acceptance of the high risk factor, learn the concept of share. The more you know in advance regarding the functionality of the system, the less likely it is that you will take a heavy hit, ending in devastating loss.This free stock investment tips gives you an idea about stock investment information. 

First of all and probably most important in the trading business, you should understand what stocks actually are.  When you buy or sell a stock on the open market, you should keep in mind that you are dealing with real objects, not pieces of paper; you are buying and selling real parts of a particular company, its product, or some other various commodity. This is your preferred stock investment. 

Owning a “share” means that you have actually bought into the company or product involved and become a partial owner of that commodity.  Of course, you could be one of millions of shareholders, as most companies and products are broken into minute pieces of the whole, but you are still considered an investor in that company or product until you sell your shares.

Think of it as paying for a tank of gas in the car that your parents bought for you to drive.  You may have even bought the oil filter that has been put on the car, and you may feel that this investment makes you part owner.  However, when you look at the overall cost of the car, you have really contributed very little to that amount.  However, as long as you continue to invest in the gas for the car and take care of the maintenance needs, you can claim part ownership of the car.

Because the value of a company and its products or services can fluctuate continuously, the value of the stocks you hold will not be the same from day to day and can sometimes even change hourly.  When the price per share drops and is considered low, it is an ideal time to purchase.  This is the least expensive way to begin your trading venture, and working with a stock broker will allow you to gain more information as to what stocks are ripe for the purchase at any given time.

In doing so, you become a stockholder, and the value of your holdings will fluctuate from day to day.  Your gamble (and hope!) is that the value of the company or product in which you have invested will increase or rebound from the low price at which you made your purchase. This is the goal of all traders and means that your stock will become more valuable.

As the value of your securities increases, so does your net worth.  When the price of the stock in your possession reaches ahigh point, it is time to sell, making a profit on your original investment.  Ideally, you will always sell your holdings for a reasonably higher price than the purchase amount and should never sell when the current value of the stock is below your initial purchase price.  It is important to make sure that you do not purposely take a net loss because there are plenty of occasions when you could be forced to take a loss.

For example, if you purchase shares of a company at twenty dollars each, you should never sell them for eighteen dollars apiece.  If possible, you want to hold off until they are each worth perhaps forty dollars, in essence doubling your money.  Of course, this is just an example, and not all stocks will ever double in value, but the illustration is meaningful.

There are other, more complex ways to invest in the stock market.  However, much like learning to ride a bicycle, you do not want to make your first attempt without training wheels. Stock investment analysis will help you a lot. But before all you must completely aware about this free stock investment tips - how investment in stock works.

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Monday, 6 February 2012

Job list in Employment News 04th February 2012

Employment news (04 FEBRUARY 2012 – 10 FEBRURARY 2012) advertised a lot of government jobs. Employment news is a weekly publish by the publication division of the ministry of information and broadcasting. This weekly is for advertising government job vacancies. This is a good publication for job seekers. The job highlights of employment news (04 FEBRUARY 2012 – 10 FEBRURARY 2012) is listed below for the convenience of our readers and visitors. Kindly refer the weekly before applying for a vacancy listed here.

Reserve Bank of India requires Security Guards.

Canara Bank invites applications for recruitment of Probationary Officers.

Punjab National Bank requires Management Trainees.

Indian Space Research Organisation, Bangalore invites applications for various posts.

University of Delhi requires Assistant Professors.

National Buildings Construction Corporation Limited invites applications for various posts.

Indo-Tibetan Border Police Force requires Inspectors and Sub-Inspectors (Hindi Translators).

Indo-Tibetan Border Police Force requires Head-Constables (Motor Mechanics), Constables (Motor Mechanics) & Constables (Driver).

Indian Ordnance Factory, Yeddumailaram requires Fireman.

Indian Ordnance Factory,Katni requires Teacher (Primary), Store Keepers and Durwan.

Indian Government Mint, Mumbai invites applications for various posts.

National Defence Academy, Khadakwasla, Pune requires Lower Division Clerks, Cook, Mess Waiters, Tindle, Mali, Groom, Safaiwala etc.

National Centre for Disease Information and Research, Bangalore requires Scientists.

FCI Aravali Gypsum and Mineral India Limited, Jodhpur requires Mining Engineer, Assistant Mining Engineer, Accounts Officer, Quarry Foreman etc.

Employees’ State Insurance Corporation, Mumbai requires Upper Division Clerks and Multi Tasking Staff.

The abovementioned job lists are the job highlights of Employment news (04 FEBRUARY 2012 – 10 FEBRURARY 2012). If you wish to apply any of the job vacancy, please refer the weekly,current employment news for more details such as salary, qualification, experience etc.

Job list in Employment News 04th Feb – 10th Feb 2012

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Sunday, 5 February 2012

Budget 2012 expectation for income tax payers

As per the last budget the Direct Tax Code (DTC) will come to effect from 01st April, 2012. The budget 2012-2013 may have the amendments of income tax rule for this DTC. But the income tax payers, a majority of income tax payers are salaried person, expect the following changes in the budget 2012-13.

New allowance limits: The exemption limits of allowances such as children education allowance, transport allowance, medical allowance etc., are very low in the current financial situation and inflation. These limits are fixed long before and tax payers expect to hike these limits to beat the inflation.

New TDS rates and limits: TDS rates and minimum amount for deduction of tax at source are also may be revised. These limits and rates are also affected with inflation.

New Tax slab limits: At present there is not tax for a net income of Rs. 180000 for gents and Rs. 190000 for ladies and it is expected that these limits may be raised to 200000 for both ladies and gents.

Now the tax rates are 10% for an income up to Rs. 500000 and 20% for an income more than 5 lakh up to Rs. 800000 and 30% tax for an income more than 800000. Theses tax slab rates may be revised as follows:-

Up to Rs. 200000 the tax rate is Nil

From 200000 to 500000 the tax rate is 10%

From 500001 to 1000000 the tax rate may be 20%

And more than 1000000 the tax rate may be 30%

No income tax return: Now the salaried person those who have an income up to Rs. 500000 only (Income from salary and interest) with an interest less than Rs. 10000 should not file income tax return, if he declare the interest to the employer and allow the employer to deduct TDS accordingly. If the interest up to Rs. 10000 exempted from income tax, this declaration can be avoided.

New Tax saving strategy: It is expected that the new tax saving strategy may come into force from the coming financial year which may helpful to promote small savings investments.

All the above mentioned changes are only expectations of common man which may propose through the coming budget 2012.

Budget 2012 expectation for income tax payers

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