Yakshita

  What is PPF? PPF (Public Provident Fund) is a tax-free savings scheme offered by Govt. of India. One has to open a PPF account under this scheme and the amount deposited during a year will be claimed under section 80c deductions. How to open a PPF Account? PPF account can be opened at Post Office, nationalized banks and also in private banks such as Axis,ICICI bank etc. Now a days one can also open a PPF account online through net banking. Once the account is opened, a passbook similar to bank passbook will be issued to track the transaction records. Documents Required in order to open a PPF Account are :- Aadhaar Card/Voter Id Card for KYC Verification PAN Card Residential Address Proof. Nominee declaration form. Passport sized photograph. Eligibility Criteria:- Should be resident of India NRIs not eligible for this scheme however a resident Indian who has become an NRI after opening a PPF account can continue the account till maturity. Joint/Multiple accounts not allowed. Paren...

  What is Credit Score and Credit Report? Credit Score is basically a three -digit number, ranging from 300 to 900, that acts as a measure of once credit worthiness. The score is calculated by considering once credit history and details found in Credit report. Credit Report comprises once Credit history with detailed information like credit card accounts,Loan, late payments details etc. Credit score is one of the important factor responsible for loan approval and credit card application. The more the Credit Score i.e near to 900, greater is the chances of being approved for new loans/Credit Cards. Who Creates Credit Score/Reports?  Credit Reports are generated by CIC (Credit Information Companies) licensed in India. These are:- Equifax TransUnion CIBIL Experian CRIF High Mark What is Good Credit Score? It depends! Each creditor decides how to use these numbers, but here are some basic guidelines:- 800 - 900 = Excellent 740 - 799 = Very Good 670 - 739 = Good 580 - 669 = Fair 30...

What is NEFT? NEFT (National Electronics Fund Transfer) is a electronic fund transfer system that allows transfer of funds/money from one bank account to another. All the settlement of NEFT are made in a batch-wise format. Requirements for NEFT Fund Transfer:- One needs to check whether their bank offers the facility or not.  Beneficiary details like name,account number,bank and branch name,IFSC Code needs to be added at the time of making NEFT request. How to do NEFT? Login to Net banking portal. Go to NEFT fund transfer section. Add the recipient as a beneficiary. Enter beneficiary details like name,account details,IFSC Code. Once the beneficiary is added ,one can initiate the NEFT transfer,just enter the amount and send. Benefits of using NEFT:- Reliable ,fast and convenient Safe and Secure Paperless Economical Chances of cheating or fraud are simply eliminated. One can make the transactions with a single click at any time and any where. NEFT Charges:- No charges for recipients/...

  What is Gratuity? Gratuity refers to an amount of money which an employer pays to his employees in return for services offered by him to the company. A person is eligible to receive gratuity only if he has completed five years of service with an organization. Eligibility Criteria for Payment of Gratuity:- An individual is eligible for gratuity if he/she fulfills the following criteria:- The Employee should be eligible for superannuation. He/she should have retired from the job. An employee resigns after working for 5 years with a single employer. In case of death ,or if someone become disabled on account of sickness or accident. Gratuity Formula and Calculation:- Listed below are the components that go into calculation of Gratuity amount. Amount also dependent upon the number of years served in the company and last drawn salary (Basic +DA)                                         ...

  India will remain as host of the T20 World Cup in 2021 while Australia will host the same in 2022.Meanwhile, the Women's 50-over World Cup,scheduled to be held in New Zealand in Feb-March 2021, has been postponed to Feb-March 2022. Earlier, following a meeting of the IBC Board on July 20, the cricket governing body had announced the postponement of the 2020 edition of the Men's T20 World Cup and had also marked a window for the three men's events in 2021,2022 and 2023. ICC Men's T20 World Cup 2021 is scheduled to be played in Oct-Nov 2021,with the final on Nov 14.The 2022 edition of the T20 World Cup will be held in Oct-Nov 2022,with the final on Nov 13.The ICC Men's Cricket World Cup 2023 will be held in India in Oct-Nov 2023,with the final on Nov 26, 2023. The format of the Men's T20 World Cup in 2021 will remain the same as it was in 2020, with all teams that qualified for the 2020 event to be part of the event in India in 2021. A new qualification process ...

                                      What is UPI? UPI(Unified Payment Interface) is the trending payment mode among individuals for money transfer and Bill payments. Main advantage of UPI payment is that there is no any additional transaction charges and receiver will not know once bank account details as they can view their VPA(Virtual Payment Address).                                      What is VPA? VPA is a unique identifier that mapped with an individual ban account. VPA can be used to make and receive payments through a UPI-enabled app.It is something like an email id that is given to an individual using UPI service. To successfully start UPI ,it is mandatory to have valid username which is nothing but a VPA.                        ...

To save money is always a good habit. It helps us in planning for sound future. EPF is such an investment fund where in an employer as well as employee contributes an equal amount. All the contributed amount/funds are made in account maintained by Employee Provident Fund Organization (EPFO). The EPFO allocate the unique number i.e UAN (Universal Account Number) for such accounts. To check EPF Passbook/Balance, we must have UAN number.The Universal Account Number is a unique number allotted by EPFO and it is of 12 digits (numeric). We can check EPF Passbook balance via Online as well as offline process. EPF Passbook Balance via Offline Process:- SMS – We can check EPF balance by sending a SMS to 7738299899 and its format should be EPFOHO UAN ENG          So you your UAN is 123456789234 and preferred language is English, the SMS format should be EPFOHO 123456789234 ENG Note:-   You can facilate this process if your UAN is active and linked with Aadhar ,...

              What is Network Marketing? Network Marketing also known as multi-level marketing, is a business model which involves network of people who sell a company's product.The members of this network are usually enrolled on a commission basis. Basics Task could be- Sell the product Recruit/Add new members Make sure their recruit members make sale of the product.       How Network Marketing/MLM Works? First, a company with helpful products seeking to break into the market without paying for adverts or doing promos may decide to try out network marketing. Company then recruit or hire new participants and trained them depending on the types of product to be sold. Once the Training period is over, participants w ill have to sell off these products to people close to them with the hope of earning a commission for each product that is sold. Company will require participants to try to recruit other participants since it is a hierarchy sys...

                                                       EPF Withdrawal Online:- In this article we will cover following topics - What is EPF. Eligibility to File Withdrawal. Documents required for filling Online Claim. Checklist to File Withdrawal from EPF Account Online. Step-by-step guide to file EPF Withdrawal Claim Online. What is EPF? Employees’ Provident Fund or EPF is a compulsory savings scheme as per the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 initiated by the Government of India (GOI). This investment provision is executed and managed through the Employees’ Provident Fund Organization (EPFO) as a part of the Ministry of Labour & Employment. EPFO members receiving contribution to the fund are eligible to avail EPF withdrawal online when qualifying for defined pre-requisites.   This scheme is compulsory ...