KYC details for you EPF account could be updated online via UAN EPFO portal. To update or change your KYC (Know your customer) detail on UAN EPFO portal, you require UAN (Universal Account Number) credential. You can login to EPFO UAN portal and update your KYC by uploading necessary documents online. KYC details include PAN card number, Aadhaar card, and bank account details. If you have not yet updated these details on the EPFO portal you must do it now. KYC update in EPF gives following benefits. The proper KYC document completed account does not face any delay during transfer or withdrawal of money. If bank account details are not updated your claim may get rejected. The EPF member will not get any SMS alert if KYC documents are not submitted. Following documents are considere
IRCTC (Indian Railway Catering and Tourism Corporation) offers a quota of 'Premium Tatkal' for online ticket bookings on its official website- irctc.co.in and app. Premium Tatkal tickets were introduced with dynamic fare pricing by Indian Railways. According to IRCTC, dynamic fare stands for the fare component which may be increased with the subsequent bookings. Booking Premium Tatkal (PT) ticket is much costlier than Tatkal due to dynamic fare pricing, said IRCTC. The ticket prices vary according to the booking rate and seat available. 10 features of Premium Tatkal (PT) quota booking on dynamic pricing: Advance Reservation Period (ARP) of Premium Tatkal ticket booking is same as Tatkal ticket booking. Premium Tatkal booking also opens at 10 AM for AC classes and 11 AM for no
Telecom firms came up with 4G-LTE services in India in 2016. Airtel was one of the first firms to make 4G SIM cards available to its consumers. While JIO was the 2nd company to launch 4G cellular services across India followed by Vodafone and Idea. G stands for “Fourth generation” and is a successor to 3G mobile services. The downloading speed is approximately 50 mbps which is 5 times fasterthan the 3G services. Let’s see which are the best 4G internet plans in India. Airtel Bharti Airtel has come up with a plan of Rs.399 where users can avail 1GB of data per day for a period of 28 days. This offer is only available for 4G handset users. For others, users will get 1.25GB of data per day. Under this Airtel offer you will also get the bundled unlimited free calling and SMS offer. When c
The retirement body Employees' Provident Fund Organisation (EPFO) on Tuesday decided to allow its members to withdraw upto 75 percent of outstanding balance from their PF accounts if they have been unemployed for more than a month. As per the existing rules, the EPFO members are entitled to withdraw their entire balance after two months of unemployment. This provision, however, continues to stay. "EPFO extends additional facility to unemployed members to avail non refundable advance upto 75 % of outstanding balance in case of unemployed for more than a month. Existing provision of complete withdrawal after two months of unemployment remains unchanged," tweeted EPF India on Tuesday after the meeting of Central of Trustees. "The decision was taken during the Central Board of Trustees (C...
Vodafone India recently revamped all its postpaid recharge plans to increase data benefits and add a host of other benefits, in a move viewed as means to take on rival telecom operators. After offering a number of prepaid recharge plans, telecom companies are now offering postpaid plans at attractive rates with more benefits to lure customers and increase customer base. Telecom sector in the country has witnessed high competition since the launch of Reliance Jio in September 2016, pushing the sector towards consolidation. Here are the postpaid plans offered by Bharti Airtel, Reliance Jio and Vodafone India under Rs. 500: Airtel postpaid plans priced under Rs. 500 In a postpaid plan priced at Rs. 399 per month, Airtel offers unlimited calling, 20 GB data per month with a rollover
State Bank of India (SBI) offers best Fixed Deposit (FD) rates in the industry for individuals and senior citizens. An SBI FD scheme is a best savings solution that is safe and offers guaranteed returns. SBI offers a wide range of fixed deposit schemes that gives good interest rate and flexible tenure options. Use an FD Calculator before applying for an SBI FD to know how much interest you will earn out of the investment. The highest interest rate offered on an SBI FD is 6.25% for individuals and 6.75% for senior citizens. Funds can be deposited for tenure that ranges from a minimum of 7 days to a maximum of 10 years. Fixed deposits are one among the most sought after investment schemes in India and are less risky. SBI FD rates SBI offers competitive interest rates and a range of ten...
An EPF or Employees' Provident Fund account contains the money that is deducted from the salary of an individual. Because both employee and employer contribute towards EPF, it is part of the cost-to-company or CTC structure of an employee. An employee contributes 12 per cent of his or her salary towards EPF while another 12 per cent is paid for by the employer. Out of the 12 per cent paid by the employer, 8.33 per cent is invested in Employee's Pension Scheme (EPS) while the balance 3.67 per cent is invested in EPF. EPS and EPF are both run by retirement fund body EPFO (Employees' Provident Fund Organisation). If you shift from one company to another, you are required to transfer your EPF money. Here are five key things you should know if you need to transfer EPF money: 1) An EPFO
Banking majors SBI (State Bank of India), ICICI Bank and HDFC Bank charge their customers a penalty fee for non-maintenance of the minimum stipulated balance in their savings bank accounts. This penalty fee, for failing to comply with the banks' separate monthly average balance or MAB requirements, ranges from Rs 5 to Rs 600 (excluding taxes and other charges). SBI, for example, has set a monthly average balance requirement of Rs 3,000 for customers holding a savings bank account with its metro branch. Similarly, the other two major banks have also set different minimum balance average limits, failing to meet which attracts a penalty charge. Here's a lowdown of different minimum balance requirements set by these banks and the penalty charges applicable. Minimum balance required: SBI vs ...
Like Permanent Account Number or PAN is an identification number for individual taxpayers, similarly, TIN is an identification number assigned to business enterprises for tracking their transactions. Tin is basically required for all entities that are registered under VAT for trade of goods and services. The idea behind the move is to integrate at a single place all tax-related information of business enterprises operating in various states and carrying out inter-state as well as intra-state transactions. TIN is required for business enterprises and is assigned by the Income Tax Department for monitoring transactions and attributing them to various business entities. TIN consists of 11 characters out of which the last two depict the state of the applicant. All business dealers who seek
A part of employees’ salary is transferred to Employee Provident Fund ( EPF) as an initiative by the Government of India to create retirement corpus for the salaried class. However, if you are self-employed and want to create a snowball of money for your financial independence then, Public Provident Fund (PPF) can be an answer to money-anxiety. PPF is through a voluntary contribution and it has a lock-in period of 15 years. At present, interest rate in PPF is 7.6%, experts advocates investing in PPF as it builds a tax-free retirement corpus. An account holder can deposit a maximum of Rs 1.5 lacs in the PPF account. An amount in excess of Rs 1.5 lacs in a financial year won’t earn any interest. PF is applicable for salaried employees where a fixed amount is deducted from salary and taken