Friday, 31 August 2012

Passbook Loan, Pros and Cons

Passbook loanYou must have heard of lot of loans such as housing loans, personal loans, gold loans, secured loans, unsecured loans, car loans, payday loans, and education loans and so on. But have you ever heard of passbook loan. Yes Passbook loan is also there.

What is Passbook Loan?

A passbook loan is a loan taken by a person by pledging his savings bank passbook to the bank. It is a loan against your savings bank account. Banks allow passbook loans from 50% to 100% of the savings bank accounts balance. They will hold the passbook as a collateral security. The interest rate will be a little bit more than the interest you earn for your savings bank account. Some banks may freeze your savings bank balance till repay the loan amount.

Pros of Passbook loan

One of the important advantages of passbook loan is that you can continue your savings bank balance even after you use the money by way of passbook loan. But this is not an advantage, unless you have to show the bank balance for any desired purpose. For some occasion the account holder have to show his savings account balance. This passbook loan can use in such situations.

You can increase your credit score by paying back the loan promptly. But experts say that a good portion of banks does not report this passbook loan and repayment to the credit rating agencies.

Cons of Passbook Loan

The main disadvantage of passbook loan is that you should pay interest for your own money. Banker will take more interest than they allow for your savings bank account.

The bank will Freeze your savings bank account till you pay the full loan amount. This is the second demerits of passbook loan. But remember that you are taking your own money in the form of loan and your savings bank account will have a hold till the end of the loan.

Who is eligible for passbook loan?

A savings bank account holder who has no any liability with his bank or those who pays off his entire loan without any delay can apply for a passbook loan. The bank must ensure that the person will pay off his entire loan amount in time.

With its own disadvantages the passbook loan is not popular at present. It is a type of person loan. Now credit card companies and other financial institution will extend loan to its customers who pay off all their bills and loans properly and in time. So the need of passbook loan is not reasonable. Credit card companies are ready to give loan without any collateral security or documents. But the interest rate is comparatively very high when compared to a passbook loan. In such a situation passbook loan has its own reasonability.

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Thursday, 30 August 2012

AEGON Religare iMaximize Insurance Plan Summary

AEGON Religare iMaximize PlanAEGON Religare iMaximize Plan is a life insurance plan from AEGON Religare Life Insurance with an objective of maximizing the investment of the policy holders with zero premium allocation charge. It gives options to choose a suitable protection (death benefit) to the customers. Their online procedure makes it more easy with a few mouse clicks and input.

The plan is easy as 1, 2, 3 & 4.

1. First you choose your premium payment mode. It can be regular or single one time premium.

2. Second step is Choose your required sum assured. Yes it is a tailor made plan.

3. Third one is choose the Number of years you need protection. (Term of the policy)

4. And the fourth and last one is pay your premium as per your option.

Investment Strategy: In AEGON Religare iMaximize Plan you can choose your investment portfolio strategy form (1) Trigger portfolio strategy or (2) Self Managed Portfolio Strategy.

Maturity Benefit: The maturity benefit of the Aegon Religare iMaximize Plan is the existing fund value on the date of maturity.

Partial Withdrawal of fund: The policy holder can withdraw 20% of the fund value at the beginning of every policy year after 5 policy years.

Full withdrawal or discontinuation of policy: You can discontinue the policy anytime. But the money will be paid out only after 5 policy years. There is a discontinuance charge also. The policy holder will get fund value after deducting discontinuance charge. No discontinuance charge for single premium policy or policy which has completed 4 policy years.

The discontinuation charge differs as per the No. of policy years completed and the amount of Annual premium as follows:-

Discontinuation Charge for policy with an annual premium up to Rs. 25000.

  • 20% of Annual Premium or Fund Value or Rs. 3000 whichever is less for a policy discontinuation during the first year of the policy.

  • 15% of Annual Premium or Fund Value or Rs. 2000 whichever is less for a policy discontinuation during the second year of the policy.

  • 10% of Annual Premium or Fund Value or Rs. 2000 whichever is less for a policy discontinuation during the third year of the policy.

  • 5% of Annual Premium or Fund Value or Rs. 2000 whichever is less for a policy discontinuation during the fourth year of the policy.

Discontinuation Charge for policy with an annual premium above Rs. 25000.

  • 6% of Annual Premium or Fund Value or Rs. 6000 whichever is less for a policy discontinuation during the first year of the policy.

  • 4% of Annual Premium or Fund Value or Rs. 5000 whichever is less for a policy discontinuation during the second year of the policy.

  • 3% of Annual Premium or Fund Value or Rs. 4000 whichever is less for a policy discontinuation during the third year of the policy.

  • 2% of Annual Premium or Fund Value or Rs. 2000 whichever is less for a policy discontinuation during the fourth year of the policy.

There is no Discontinuation charge from 5th policy year onwards

Death Benefit: There are two options for the untimely death of the insured which can choose when you join the policy.

The nominee will get higher of Sum assured (Including sum assured for top up premium) or the Actual Fund Value or 105% of the paid up premium.

Death Benefit Option 1: in case of an unfortunate demise of the Life Assured, the nominee receives higher of Sum Assured (including sum assured increased on account of payment of top up premium) or Fund Value or 105% of all the premiums paid. The policy terminates thereafter.

Death Benefit Option 2: In case of an unfortunate demise during the term of the policy, the nominee receives death benefit

Policy Term and Premium payment term: For both Regular Premium policy and Single Premium policy the policy terms are 15 years, 20 Years and 25 years. But the minimum annual premium for Regular premium plan is Rs. 24000 and for Single premium policy the premium range is Rs. 50000 to Rs. 69000 for 5 years policy, Rs. 70000 to Rs. 124000 for 10 years policy and Rs. 125000 and above for 25 years policy. The premium payment term is equal to policy term for regular premium policy.

Sum Assured: The minimum sum assured for the policy holders less than 45 years of age is 10 times of the regular annual premium or 0.5 x 10 times of Annual Premium x Policy Term. Sum Assured for Single premium policy is 1.25 x Annual Premium.

For those who has an age above 45 years 7 times of the regular annual premium or 0.25 x 10 times of Annual Premium x Policy Term. Sum Assured for Single premium policy is 1.25 x Annual Premium.

Maximum Sum Assured: Maximum sum assured is 30 times of Annualized Premium, but you have an option to choose 15 times, 20 times or 25 times of the annualized premium as sum assured. In Single premium policy maximum sum assured is 5 times of the onetime premium.

Entry Age: Minimum Entry age of Annual Premium Option 1 is 7 years and Annual premium option 2 is 18 years. For Onetime premium option the minimum age is 7 years.

The Maximum maturity age is 75 years in all options.

Premium payment frequency is monthly or annual for regular premium option.

It seems that the AEGON Religare iMaximize Plan is a good insurance plan. But the maximum benefit is as per the performance of Insurance Company and the performance of units.

Read more about

 AEGON Religare iMaximize Plan

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Monday, 27 August 2012

Job Highlights of Employment News 25 August 2012

Employment News 25 August -31 August 2102FCI, Railway and Banks conquered most of the Job highlights of Employment News 25th August, 2012. Employment News is a Weekly which publishes job vacancies. This week also there are a lot of government job vacancies published in Employment News. The Job highlights of Employment News 25th August – 31st August 2102 is given below.

Food Corporation of India notifies Combined Recruitment for Assistant Grade III in General, Depot, Technical and Account Cadres in the FCI-2013 No. of Vacancies : 6545 Last Date: 21.09.2012

Central Railway, Mumbai requires 2572 Trackmen, Hamal, Khalasi, Safaiwala and Asstt Pointsman, etc. Last Date: 25.09.2012

East Central Railway, Patna requires 2226 Porter, Trackman, Helper-II, Safaiwala & Grade 'D' (Engg & Store) Last Date : 10.10.2012

South East Central Railway requires 2079 Porter, TMO/ KSI, Helper-II, Trackman, etc. Last Date : 05.10.2012

South Western Railway, Hubli requires 790 Trackman, Helper, Porter/ Hamal/Sweeper-cum- Porter/Optg and Safaiwala/ Medi Last Date : 28.09.2012

Railway Recruitment Cell, East Coast Railway, Bhubaneswar requires 400 Helper-II Last Date : 24.09.2012

Vijaya Bank, Bangalore requires 800 Probationary Clerk Closing Date for online registration: 05.09.2012

Indian Bank, Chennai requires 215 Specialist Officers Closing Date for online registration: 05.09.2012

Steel Authority of India Limited, Salem requires 54 Attendant-cum-Technician- Trainee Last Date : 10.09.2012

The abovementioned job vacancies are from Employment News 25th August, 2012. Please visit the concerned website or read the employment news weekly for more details about each job.

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Sunday, 26 August 2012

Different Kinds of Stock or Shares

Different Kind of StocksAn investment in Stocks or Stock Trading is a good method of making money only if you are very careful. When you invest in shares you must know different types of stock  in the market. Knowledge of all types of stocks helps you to choose a few good stocks to invest. In my last articles I mentioned that you should choose any index shares such as Nifty50 or Sensex30 and buy them when the market is down and sell them when it is up. But if you have a good idea about the types of shares you can easily choose such shares as per your investment strategy and can make profit from stocks trading.

Normally shares can broadly classified in to two, preference shares and common shares. Preference shares have fixed returns as dividends and the preference share holders paid first when the company liquidated or windup. The risk of preference share holders is limited and issue of preference shares is very rare. Because the preference share holders should pay dividend as per the terms of issue of such shares.

The major portion of shares is common shares and investors invest in these shares and trade with it through stock exchange. The common share holders are the actual owners of the company and they have more power and voting right. But as per nature and growth potential of shares and companies, the common stocks can be divided in the following categories.

Blue-Chip Stocks: Shares of strong companies are coming under this category and these companies are completed long ternin business and have a good reputation. Blue chip shares pay steady dividend. These shares get high rating from rating agencies. The risk involved in the investment of this type of shares is very less than other type of shares.

Growth Stock or Glamour Stock: Stock with great growing potential and it is expected to grow above the average limit is coming under Growth Stock. The market fluctuations will not affect the growth of such shares. Investors can safely invest in these stocks because it is almost secured. Normally the earnings of growth stocks are reinvested and it fuels more growth potential. Mostly technology related companies have these types of stock.

Income Stocks: Stocks which distribute regular increasing dividend is known as income stocks. The investors those who have conservative investment strategy likes this stocks. This type of shares is less volatiles and buyers are always ready to buy these types stocks due to high and definite dividend. This shares does not have much growth because the high dividend payout. Normally real estate companies, energy and other natural resources companies have this type of stocks.

Value Stocks: This type stocks have great growth potential and undervalued. Investors can get these shares with low price but it has a high dividend yield and expected to grow high. Investors who prefer value stocks wish to buy a few high dividend yield stocks every year and they are looking for shares which are sold less than its worth.

Recurring Stocks: These type s of stock reacts the rise and fall of economy. It always swings back as per the performance ofeconomy.

If you can identify these various kinds of stocks and could identify your investment strategy you can easily win in stock trading and stock investment.

Different Kinds of Stock or Shares

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Thursday, 23 August 2012

Invest in Safe Stocks to Earn More

Invest in safe stocksInvestment is a process of spending money for getting more by way of growth or income. An investor really wants to earn more with low amount of investment which means a high rate of return. But when the expected rate of return is high, the risk of losing money is also high. If you just keep all your money in your house under lock and key, it also has some risk. Here the question is how much risk one can bear. In case of stock investing a high level of risk is there. The volatility in stock market is very high. You can make a lot of money and at the same time you can lose a lot. But if you are careful in stock investing, you can cut the risk of losing money and can increase return. Invest in safe stocks, reduce your risk and increase your earnings.

Catch fish when the water is troubled

This does not mean to make trouble the water to fish out. I just say when the water is troubled, catch enough fish. There is a tendency to sell shares in a hurry when the market is in dip. But that is not good. You should buy them when the market is going down and sell your equities when the market is up. This does not mean that buy any shares when the market is down. Buy only safe shares, shares of strong companies, when they are undervalued. Sometimes the shares may go down under the realvalue of shares. Calculate the normal value and buy when it is going down and sell when it is overvalued. If you could find out the real value of shares you can win in stock market.

What are safe stocks?

Is there such a stock which is labeled as safe? Most investors think that all stocks are risky and volatile. But there are safe stocks also. The success is to know how to find a safe stock. How to differentiate the safe ones and risky ones? Unfortunately there is not a clear definition and method to find a stock is safe or risky. But when you buy shares select it from top index shares of Nifty 50, Sensex 30 or such high indexed shares which may not give you a loss. But keep in mind that invest only when the shares are undervalued and sell them when it is overvalued. You will get a definite profit.

An investor who can find the discounted price and MRP of a group of shares could win the game. Select a group of strong shares such as nifty 50 or sensex 30 etc. Find out the MRP and Discounted price of these shares and add them to your market watch. When the price came near discounted price of any of these shares buy them and sell them when it reach near the MRP. That’s all to bring you to the way of victory.

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Wednesday, 22 August 2012

A Successful Investor is Born or Made

Qualities of a Successful InvestorHow to be a successful investor? A Successful investor is born or made? Nobody is born as an investor. So we can undoubtedly say that a successful investor is made, not born, but how? Here we are not going through the process of being an ordinary man to a glorified investor, but we will discuss the important qualities of an investor which will make him a successful one.

Knowledge of Investment related Matters:  An investor must have knowledge about investment and investment related matters. He could understand finance, financial planning and financial instruments etc. This knowledge can acquire from financial Medias and related information. If you don’t know the field of investment and investment strategy, you will fail and all your hard earned money will lose. So an investor must get enough knowledge about investment and at least the financial instrument which he invests his money.

Personal Commitment: An investor must be committed with his investments. He should study his investment portfolio regularly and make enough changes whenever required. He should watch the present financial market and learn from it. If he invested in many different financial instruments he has to spend more time to study all of them regularly. So he must be committed for it, unless he cannot be a wise or successful investor.

Well Disciplined Person: An investor must be a well disciplined person at least in his financial matters. He must be patient to watch his portfolio growing. He must not be greedy or coward. He should be ready to face victory and loss. He must not invest or disinvest in a hurry. Do it only after a careful study. If he invests in equity market or forex he has to take crucial decisions, but observe everything well before such decisions. Do not follow the multitude. Go with confidence and thorough knowledge.

Patience is the best quality: Even if we discussed this in the abovementioned discipline, but this is much important in investing. Keep in mind that the time taken for a financial portfolio is to earn good harvest is not easy just like a glimpse. It will take time and wait until then with patience. The great thing is to develop an investment strategy than managing your portfolio. Once you develop your investment strategy you can easily manage your money and wealth.

If you have no time and other related requirements to be a successful investor,  we strongly advice you do not invest in complicated equity market or mutual funds, just put your money in Bank fixed deposits, Post office savings, Provident fund etc., and live peacefully and enjoy your life. But if you have the abovementioned quality and time to spend on investment be a good and successful investor and earn more and more as a confident investor.

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Monday, 20 August 2012

Advantages of Health Insurance Policy

Benefit of Health InsuranceA Normal family could not bear medical expenses. If any member of the family got ill and the whole family will be in problem. All should adjust accordingly to get the patient treated. The huge medical expenses bring these troubles high. It will eat out the savings of the entire family. But if you take medical insurance (Health Care) policy, this financial burden can avoid and the patient can avail good medical facility.  The health insurance provider will bear all medical expenses as per the terms and conditions of the medical insurance policy. Medical Insurance is also known as health insurance. It covers all Medical treatment expenses whether the illness requires long term treatment or short term treatment.

The following are the main advantages of a health insurance policy. 

Let us see the benefit of health insurance

Low premium saves you and your family: A health insurance policy assure the medical treatment of yourself and your family up to a predetermined sum by paying around an annual premium of 1.25% to 2.25% of the insured amount.  For example if you insured you and your family’s medical treatment amounting to Rs. 300000, you have to pay an annual premium of Rs. 3750 to Rs. 6750. But you can ensure a medical treatment through Health care insurance up to Rs. 300000 annually.

Medical insurance assures medical expense and post medical care expenses: A medical insurance policy pay off your medical bill and sometimes the post medical care also, if the terms and conditions of the policy allowed it. 

Health insurance policy assures the financial security of the family: The family must not take much financial burden when a family member got ill and admitted for treatment. Your insurance provider pays off the medical bill. Check the terms and conditions of the medical insurance policy before joining the policy.

Medical insurance policy covers hospitalization and medical bills:  Most medical insurance providers have panel hospitals and the patient should be treated in any of such listed hospitals to avail full medical insurance cover and they offer cashless treatment for insured.

Tax benefits: You can avail tax exemption under section 80D of income tax act up to Rs. 15000 of medical insurance premium paid in a year and the exempted amount will be Rs. 20000 if any of the insured person is a senior citizen. Just like, you can get an additional tax exemption if you take medical insurance policy for your parents or parent’s in-law. This amount also will be Rs. 20000 if any of the insured members is a senior citizen.

Join with any health insurance policy soon. But keep in mind that you should not conceal any personal information to the health insurance provider ask you to fill while completing your medical insurance application form. If you hide any present illness or any such details you may be in trouble when you claim medical treatment expenses. Give true information. Check whether the insurance provider assure lifelong medical insurance cover, if you renew the policy every year. The time taken for claim settlement, Cashless treatment, how many listed hospitals and the type of listed hospitals. If they provide only high expensive multi specialty hospitals, your sum assured will be over soon and you have to pay the balance amount. So read the terms and conditions and prospectus carefully before taking a medical insurance policy.

Benefit of Health Insurance

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Sunday, 19 August 2012

Job Highlights of Employment News 18 August 2102

Employment News Job HighlightsEmployment News (18 Aug – 24 Aug 2012) came out with lot of government job vacancies. This time Allahabad Bank requires1100 Single Window Operators, Punjab National Bank need 120 Probationary officers/Management Trainees and Bank of Maharashtra have vacancies 30 Chartered Accountants. Northern Railway also came with 1965 Assistant Points man, Porter, safaiwala etc. Uttar Pradesh PSC invites application for 377 various posts. Many more other vacancies are also there. Job highlights of Employment News (18 Aug – 24 Aug 2012) follows:-

North Central Railway, Railway Recruitment Cell, Allahabad requires 1965 Assistant Pointsman, Porter,Peon-Porter, Safaiwala, Trackman, Helper, etc. Last Date: 30.09.2012

Allahabad Bank requires 1100 Single Window Operator ‘A’. Closing date for online registration: 23.08.2012

Punjab National Bank requires 120 Probationary Officers/Management Trainees. Closing date for online registration: 27.08.2012

Bank of Maharashtra, Pune requires 30 Chartered Accountants

Public Service Commission, Uttar Pradesh invites applications for recruitment of about 377 posts in different departments. Last Date : 19.09.2012

Dedicated Freight Corridor Corporation of India Limited, New Delhi requires 107 Asstt Managers and Executives in various disciplines. Last Date : 30 days after publication

Dedicated Freight Corridor Corporation of India Limited, New Delhi requires 140 Addl General Manager, Jt General Manager, Dy General Manager, Manager, etc. Last Date : 60 days after publication

Air India Air Transport Services Limited requires 100 Customer Agent, Ramp Service Agent, Utility Agent cum Ramp Driver and Handyman-II

Uttarakhand Sugars, Dehradun requires 51 Assistant Engineer, Manufacturing Chemist and Lab Incharge. Last Date : 15 days after publication

Council of Scientific and Industrial Research notifies Joint CSIR-UGC Test for Junior Research Fellowship and Eligibility for Lectureship - 23rd December, 2012. Closing date of submission of online application: 19.09.2012

The abovementioned job list is from Employment News 18th August 2012. Read the weekly for more information.

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Saturday, 18 August 2012

Ad-hoc Bonus, Onam Advance & Festival Allowance in Kerala

Onam Sadhaya in Happy Onam CelebrationOnam is the national festival of Kerala and also it is the harvest festival. All People in Kerala celebrate Onam without any caste, colour or creed variations. By celebrating Onam, Keralites remember the golden days of the ancient King Mahabali who ruled over with honest and justice. This time Onam is on 29th August, 2012. Onam will not be end in one day. It is celebrating more days and the main celebrations are in first three days which is called First Onam, Second Onam and Third Onam. Government of Kerala gives Ad-hoc bonus, Special Festival Allowance and Onam advance to its serving employees, pensioners and family pensioners. This time also government of Kerala decided to give Ad-hoc Bonus and Onam Advance as follows:- 

Ad-hoc Bonus to Kerala Government Employees

Ad-hoc Bonus: Kerala Government decided to give Ad-hoc Bonus of Rs. 3200 to all government employees who have a Total Monthly Emoluments not exceed Rs. 14500 as on 31st March, 2012.

Special Festival Allowance: Those who are not eligible for Ad-hoc Bonus will get a special festival allowance of Rs. 2000. Special Festival Allowance to Service Pensioners Rs. 610 and For Family pensioners Rs. 500. The amount will be disbursed from 23rd August 2012 onwards. Read the Government Order: GO(P)  No.461/2012/Fin Dated 17/08/2012

Onam Advance to Kerala Government Employees

Government of Kerala decided to give Onam Advance to all Government Employees up to Rs. 10000 (in multiples of 500) and the amount can withdraw from 23.08.2012. The amount will be deducted from their salary in five equal monthly installments. This declaration is made through Government Order No. G.O (P) No. 462/2012/Fin. Dated 17.08.2012

Onam Advance to Part-time Contingent Employees

Government of Kerala decided to give Onam Advance to part time contingent employees, NMR workers, Grass Cutters and other categories of Employees up to a maximum of Rs. 2000 and will be recovered in 5 equal monthly installments from their salary. This Onam advance also can be collected from 23.08.2012 onwards. Government Order: G.O (Ms) No. 463/2012/Fin Dated 17.08.2012

With this Onam Advance, Ad-hoc bonus and Festival Allowance Kerala government employees can celebrate their Onam with more cheerful and celebrating mood.

Ad-hoc Bonus, Onam Advance & Festival Allowance to Kerala Government Employees

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Friday, 17 August 2012

800 Vacancies of Probationary Clerks In Vijaya Bank

Vijaya Bank, One of the leading Public Sector Banks in India, invites application from young Dynamic candidates for filling 800 probationary clerks’ vacancies.

Name of the Post         :           Probationary Clerks

No. of Posts                  :           800

Minimum Age              :           18 years as on 01st August, 2012

Maximum Age             :           28 years as on 01st August, 2012

Pay Scale                      :           Rs. 7200 – Rs. 19300

Educational Qualification: The Candidate must have passed 10th Standard or Equivalent with 60% aggregate Marks OR have Passed 10+2 or Equivalent with 50% aggregate Marks OR a graduate in 10+2+3 Scheme from any recognized University. These Qualifications must have earned on or before 10th August, 2011. For SC/ST/OBC/PWD/XSM candidates the 60% in 10th Class and 50% in 10+2 is not necessary. They should have passed the required examinations.

Other Requirements: The candidate must have cleared Common Written Examination (CWE)- for Clerk-conducted by Institute of Banking Personnel Selection (IBPS) in the year 2011 and holding a valid score card issued by IBPS, Probationary Clerks.

Application Process: Candidates with required Qualification must apply online from 16th August, 2012 to 5th September, 2012.

Application Fee: Application fee is Rs. 20 for SC, ST & PWD Candidates and Rs. 100 for all other candidates.

Detailed Advertisement: We strongly recommend reading the detailed advertisement from the link before apply for the post. VJAYA BANK RECRUITMENT OF PROBATIONARY CLERKS - PROJECT- 2012-13

Apply online for the Recruitment of Probationary Clerks in Vijaya Bank

This is a good chance for those who wish to get a job in a nationalized Bank in India.

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Monday, 13 August 2012

Chris Farrell Membership for Starting Internet Business

Chris Farrell Membership is a membership offered by the website of Chris Farrell. It gives you directions and tools to make money online legally. Those who wish to make a living through online income, the website is a better option. You can join with Chris Farrell Membership with a nominal monthly fee and can access all information and tools to build a wonderful online money making program. It's 21 Days to success is really amazing and teaches you how to be success in internet

Read more about Chris Farrell Membership 



Friday, 10 August 2012

All About EPFO Member Portal

Recently EPFO (Employees Provident Fund Organisation) introduced Members Portal which allows EPF members can register their names and can see epfo member e-pass book and monthly balance. This is a portal which allows each employee to check their own PF Status online. The following points give more idea about EPFO Member Portal.

E-Pass Book is an electronic pass book arranged by EPFO for each registered members and each member can see their EPF account activities including monthly deposit and balance. They can know whether their PF amount deposited and entered correctly in their account. This is just like a bank account passbook which shows all account related transactions which involved money.

Any Employees Provident Fund Member can register with EPFO Member portal and no PF account number or name of the PF office is required for register with EPFO member portal.

Advantages of Registration. A Registered Member can download their PF Account Pass book. But only if the employer uploads online PF challan every month and the account must be active and operating. By downloading EPF pass book a registered member can know his/her PF account activities. The benefit of this portal is only for EPFO Members. IF the PF of any institution maintained in any other trust, this portal is not for them.

User ID. A member is not allowed to use any user ID. User ID must be any government issued Identity card Nos. Such as PAN No. AADHAR Card No. Passport No. etc. and it is convenient to remember by a member at any time. You can input more than one such ID numbers for the same user registration. You can edit any document number you have entered wrongly. But the document number you used to login at the time of edition is not allowed to edit that time. IF you want to edit your PAN number you must login with any other document Number. When you login the system it will ask you with which ID you want to login through a drop down menu.

Choose Your Document

Pass word. The password for this Member Portal is your mobile Number which is also easy to remember. You can change your mobile number in any circumstances. You should login with your old mobile number a can edit the mobile number. A pin number will be given you to your new mobile number and allow you to enter the pin to complete the change. One mobile number can use for only one registration and this will be added with your data.

Pin Number. Every time you login in the member ship portal or you make any request or change a pin number which you get through your mobile should be entered. This is to confirm that nobody is misusing your details and login ID.

Download E-Pass Book. You have to click on the Download epfo member eE-Passbook Link after login to the EPFO Members Portal. Select your PF office and enter your PF code and PF number. IF the passbook is available you will get a Pin in your mobile and enter the Pin to view your PF Passbook. You can save the passbook in your computer. Your EPF account balance since the computerization starts and the monthly deposits and balance can view in the Passbook. You can see all your active PF accounts. IF no contribution received for the past 36 months the account will be inactive. You can transfer such PF accounts to your operating PF account by filling form no. 13.  If there are any missing or incorrect details you can approach your employer for checking the correctness and finally you can approach your PF office for correction.

EPFO Office. If a member does not know his/her EPFO office, use the establishment search from the download e-pass book menu to find your EPFO Office.

With the abovementioned details you can use EPFO Member ship portal and can know all activities of your PF account time to time.

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Wednesday, 8 August 2012

View EPF Account Pass Book and Monthly Update of EPF

Now Employees Provident Fund Members can View their EPF Account Pass Book and can check their Provident Fund Account credit every month. Employees Provident Fund Organisation (EPFO) requested to all Employers to upload EPF Challan and related details every month to EPFO website. So an employee can register their name in the Members portal and can view and download their Provident Fund Account Passbook and also can see whether the employer credited your PF account correctly.  If not you can approach your employer to rectify it. But this facility is available only if your employer uploaded Online EPF Challan and EPF Return to the EPFO Website.

Benefit of Register with EPFO Website

By registering your name with EPFO Member Portal the PF Members can have the following benefits.

  1. Members  can View their PF Account Passbook online

  2. They Can use any of their ID to login

  3. They Can View all their PF account ( If any) at a single portal

  4. They can Get SMS about the availability of e-Passbook

Requirements to Register with EPFO Member Portal

To register your name with EPFO Members Portal you must have a Mobile Number and any of the following Identity Numbers.

  1. Permanent Account Number (PAN)

  2. AADHAR Number

  3. National Population Register (NPR)

  4. Bank Account Number

  5. Voter ID

  6. Passport

  7. Driving License

Any of the abovementioned ID Number can use for your registration and this ID will be your User ID and Your mobile number (which you can add when register your name) will be your pass word.  You can add more than one ID number (PAN, Passport No. etc) and can login with any of these numbers. The only thing is that you must remember which ID you have used to register with EPFO Website. There is a facility to retrieve your ID by clicking “Forgot Login ?”  button to get your ID in your mobile Number as SMS. This is very much convenient and an employee can confirm whether his/her PF amount has been deposited properly with EPFO.

EPF is considered as a retirement saving and it is important to make available these data to each member and through this Members portal EPFO fulfilled one important ambition of each EPF Member.

Step by step Instructions to register your name with EPFO Member Portal

Monday, 6 August 2012

Sunday, 5 August 2012

7440 Clerical Cadre Jobs in SBI Associate Banks

State Bank of India advertised for its Associate Banks to fill clerical cadre job vacancies. The written examination will be conducted by the Department of Central Recruitment and Promotion of State Bank of India. This time there are 7440 vacancies of clerks.  Those who have passed 12th class with a minimum 60% marks or a graduate from a recognized university can apply for the post. The application must be submitted online through the website of State Bank of India. Read more details and  apply online

Related Posts

 Job highlights of Employment News 28th July 2012

Job highlights of Employment News 21st July 2012

Job highlights of Employment News o7th July 2012

Disbursement of Salary in Advance for Onam Festival

Department of Expenditure under the Ministry of Finance decided to Disburse Salary, pension, wages for the month of August 2012 to Central Government Employees and Pensioners in Kerala in advance on 27th August, 2012. This decision is due to the Onam Festival. Onam is the national festival of Kerala and it is the harvest festival of Kerala. This year (2012) Onam will be celebrated on 29th August, 2012. So the Central government decided to disburse salary a little bit early to its employees in Kerala to make it convenient to celebrate Onam in time. This benefit is available for all central government employees and pensioners in Kerala. They can receive the salary for the month of August on 27th August 2012, 2 days before Onam.

Office Order for the same is issued on 03rd August, 2012. The office Memorandum says that, “all central government employees in the state of Kerala for the month of August, 2012 may be drawn and disbursed by the Central Government Offices (Including Defence, Posts and Telecommunications) on 27th August, 2012.” And this payment is considered as advance payment of the full month remuneration and will be recovered in the same month itself and if there is any balance, this will be recovered in the next month, ie, September 2012.

Read the Original Order

Other Employees News

Children Education Allowance, Clarification

MACP Joint Committee Meeting Decision


Thursday, 2 August 2012

Last Date of Income Tax Return for AY 2012-13 extended

Central Board of Direct Taxes issued a notification regarding the extension of filing Income Tax Return to 31st August, 2012 for the assessment year 2012-13. This is in consideration of the recent blackout and other considerations.  This Extension is allowed for e-filing of Income Tax Return.

How to e-file Income Tax Return on line

A step by step for filing income tax return online yourself

See the Content of the Notification: “On consideration of the reports of disturbance of general life caused due to failure of power and further in consideration of the fact that the e-filing of returns for a specified category of individuals and HUF has been made mandatory, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income Tax Act, 1961, hereby extends the 'due date' of filing of returns of income for the Assessment Year 2012-13 to 31st August 2012 in respect of assessees who are liable to file such returns by 31st July 2012 as per provisions of section 139 of Income Tax Act, 1961” Read the Notification

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No Income Tax return for Rs. 5 Lakh Income

Income Tax Return forms in Excel Format

E-filing Income Tax Return is mandatory

Wednesday, 1 August 2012

AICPIN (IW) for the month of June 2012 is 208

All India Consumer Price Index Number for Industrial Workers for the month of June 2012 is 208. This is 2 points increase from the AICPIN (IW) of May 2012, which was 206 points.

Highest increase of 8 points recorded in  Mercara centre and Godawarikhani centres. Highest Decrease of two points recorded in Ludhiana and Mysore Canters. Consumer price index of main centers are as follows:

Centers                    Jan - Feb – March- April- May-June

 1. Ahmadabad –   192    196     201       202     205   205

2. Bangalore     -   200   204     206        209     212    211

  3. Chennai         -   187    186     187        190       192   197

  4. Delhi               -   181    182     185        188      189    188

  5. Kolkata          -   184    186     190         196       197   200

6. Mumbai        -    199    200    204          208      208    212

More detailed Report of AICPIN (IW) for June 2012

Expected D.A from July 2012