MELVISHARAM | Vellore District | Tamil nadu | 632509 |

Everything about Melvisharam to make a Official Melvisharam Website.

Patna Passport Officers Are Removing Skull Caps Of Ongoing Hajis While Taking Snaps

Date: May 8, 2015 By Muslim Mirror News


Patna : Muslims of Patna are facing a major embarrassment due the behavior of passport officials of Patna nowadays, Officials are forcing to remove the skull caps while having a snap for passport to go to HAJ. It is happening every day.

All Haj going people are very much humiliated about the attitude and behavior of Patna Passport Officials. A number of people have opposed the removal of the cap while snapping but the officials said that it is a law.

According to Article 25 it has been very clearly mentioned that anyone can wear dress according to his religion.

A lot of complaints are there the caps of would be HAJI are being removed forcibly. Central and State Administration must take immediate action regarding this.

It is to be noted that Muslims men and women were asked to remove their VEIL and CAP while getting a snap for ADHAR CARD. A number of social activists have objected about it that time.

Students Are No More Interested In The SCIENCES. Why???

Date: May 8, 2015 posted on Masha’l by Mohammed Suhail
On asking a question about what is your plan after plus two to any Visharami students, the answer without a thought is engineering irrespective of career plans or huge fees. They feel that engineering alone can keep their status while the rest of other courses are nebulous. Student here in Visharam do not plan for their career, the just get into what others are doing, so-far not a single student have planned to become a Journalist or Psychologist or Sociologist or Geologist or Social Work or Physicist etc.

The same is the case for Vaniyambadi  where Prof. Mohammed Suhail gives his thoughts in his FB page. Here is the extract below:
Kind Attention: PLUS TWO GRADS
Students are no more interested in the SCIENCES. Why???
At home, Islamiah College (Autonomous), Vaniyambadi offers
B.Sc, M.Sc., M.Phil., & Ph.D in PHYSICS
WOULD YOU LIKE TO BECOME A PHYSICIST
What Can You Do With a College Degree in Physics?
The answer most appropriate for this question is: anything she wants to do. However, while some physics majors go on to become professional physicists, the majority pursue careers in fields where they can put their knowledge to more practical applications. With their skills in problem-solving, mathematical reasoning, computer programming, and organizing and interpreting scientific data, physics grads can move into government and industrial jobs that require an ability to think logically and creatively. Physics majors are well-suited to jobs that require step-by-step problem solving using math skills and good observational and communication skills.
A wide range of industries seeks physics graduates: telecommunications, industrial physics, hospital physics, electronics, computing, quality control testing, banking, insurance, teaching, management, technical sales and the armed forces, for starters. Students who become physicists tend to specialize in one or more areas of physics, such as:
Nuclear Physics
Geophysics
Atomic, Molecular and Optical Physics
Astronomy
Astrophysics
Space Physics
Physics Education
Engineering Physics
Computer Science
Go through this article to know more!
And CLICK ON THE LINK

CAHCET - Awarded "A Grade" By NAAC

Date: May 7, 2015, Source: THE HINDU
The National Assessment and Accreditation Council (NAAC) has awarded `A’ grade to the C. Abdul Hakeem College of Engineering and Technology (CAHCET), Melvisharam.
The college was assessed by a strong peer team.
According to a press release from the college, the peer team was led by B.S. Sonde, former Vice-Chancellor, Goa University.
The members comprising the team included N. Alagumurthy, Professor, Pondicherry Engineering College and Member Coordinator, and Vilas V. Karjinni, Principal, Kolhapur Institute of Technology and College of Engineering.
They visited the college for three days, March 26 to 28, 2015. A number of factors were taken into account for assessment.
They verified the infrastructural facilities and quality of academic activities through interactions with the teaching and non-teaching staff, students, parents, alumni, management, Internal Quality Assurance Cell and the Principal.

Treated Water Supply For Vellore Corporation And 11 Municipalities From April Second Week

Drinking water will be supplied to Vellore Corporation and the surrounding village panchayats from the second week of April, according to R. Nanthagopal, Collector of Vellore District.
Water will be pumped from the Cauvery River near Chekkanur Barrage downstream of Mettur Dam and treated at a plant at Thottilpatti village near Mettur in Salem district under the Rs.1,295-crore Combined Drinking Water Supply Scheme (CWSS). The Collector, along with School Education Minister K.C. Veeramani, inspected the pipeline, from which Cauvery water flowed from the pipeline into the Palar River, at Venkatapuram, in Pudu Vasur village panchayat near here on Saturday.

Talking to newspersons, Mr. Nanthagopal said that the trial run of CWSS commenced on March 26, with the raw water reaching Kodiyur near Jolarpet. “During the trial run, we are cleaning the overhead tanks and the pipelines which have become dirty and silted up. Once the trial run with raw water is over, treated water would be released into the pipelines from Tirupattur up to Vellore, benefiting the people from the second week of April,” he said.
The Collector said that when completed, the CWSS would benefit 15 lakh persons in Vellore Corporation, 11 municipalities (Tirupattur, Jolarpet, Vaniyambadi, Ambur, Pernambut, Gudiyatham, Melvisharam, Arcot, Ranipet, Walajapet and Arakkonam), five town panchayats (Natrampalli, Udayendram, Alangayam, Odugathur and Pallikonda) and 944 rural habitations in 14 panchayat unions.
Replying to a question, Mr. Nanthagopal said that treated water would be released only up to Vellore in the second week of April.
After cleaning the tanks and pipelines, water would be released to areas between Vellore and Arakkonam 10 days after the release in Vellore, possibly before the end of April, he said.
Mr. Veeramani said people of Tirupattur, Ambur and Vaniyambadi have already started using the water released under CWSS after the trial run commenced last week.
Agitation
Asked about the agitation proposed to be conducted by the DMK in Vellore under the president ship of DMK Treasurer M.K. Stalin on Monday to demand the expeditious completion of the works connected with the CWSS, the Minister said that the proposed agitation was a ‘cheap publicity stunt’ of the DMK.
Source: THE HINDU, CWSS

Halal Islamic Tax Saving Investments in India

This article is written by Fazeek Kazi and is an extract from his blog Islamic Personal Investing with little added / modified scheme list for tax saving plans. The article is solely his personal views concluding that there is no halal tax saving investment in India and written in January 14, 2012.
Halal Tax Saving Investments in India
This article only discusses tax saving through investments; it doesn't discuss about other tax saving options. There are ways to reduce taxes through deductions and I'll discuss the same in another article. Let me get straight to the point, I feel THERE IS NO HALAL TAX SAVING INVESTMENT IN INDIA.
You can continue reading further to know the reasons for the same. I am not even going into the stupid arguments that interest is allowed, small percentages are fine, interest in not usury, riba stands only for usury and not interest. Allah has given us brains to think and the Quran/ Sunna as a guide; every person is capable of investigating and finding out what is allowed and what is not.
Interest Based Investments
All these schemes are Interest based ones and hence obviously haram.
1.      PPF  (Public Provident Fund )
2.      SSY  (Sukanya Samriddhi Account)
3.      NSC/ NSS (National Saving Scheme/ Certificate)
4.      KVP (Kisan Vikas Patra)
5.      SCSS (Senior Citizens Saving Scheme)
6.      FD (Fixed Deposits) 
7.      TD (Post Office Time Deposit)
8.      Infrastructure Bonds
Insurance
Pure Life Assurance and Medical Insurance (for self and parents) is fine and a good tax deduction; but it is not literally an investment. You do not get any returns directly.
Most of the insurance schemes in India are investment based and none are halal. The following popular ones have Interest components:
1.      Guaranteed 
2.      Highest NAV
3.      Endowment
4.      Balanced
5.      Any of the Jeevan ****** from LIC
ULIP (Unit Linked Insurance Plan) 
These are somewhat similar to Mutual Funds and they can have Debt as well as Equity components. The Debt ones are obviously not allowed as that falls under Interest. The Equity one is also not allowed because of the following reason:
1.      You have no idea about which Stocks the insurance company invests the ULIP funds as they do not reveal where they have invested.
2.      Rest of the points are same as ELSS below.
Pension Schemes
Pension Schemes can take various forms and are usually from Government, Insurance Companies and Mutual Funds. However, all these are heavily into Interest based investing and hence not allowed.
1.      NPS (New Pension Scheme)
2.      ULPP (Unit Linked Pension Plan)
3.      Pension Fund from Insurances
4.      Pension Fund from Mutual Funds
ELSS (Equity Linked Savings Scheme)
Probably the most popular among Muslims as a non-interest based investment. Unfortunately this is not halal either. They do the following haram investments
1.      Although they are equity based, some portion (about 10-20%) will be invested in Debt instruments.
2.      Usually they invest a significant portion in shares of Financial Instituitions like Banks, NBFC, etc.
3.      There is nothing stopping them from investing in completely haram sectors like Alcohol, Sugar, Media & Entertainment, Tobacco.
4.      For capital intensive sectors like Infrastructure, Power, Machinery, Oil & Gas each company has to be evaluated carefully as many are heavily into debt all the time (i.e. paying huge amount of interests)
5.      Cash rich companies like IT, PSU's have huge amounts of idle cash often invested in Banks/ Bonds and other short-term investments. This pays them a good amount of interest income.
Even if you ignore the last 2 points; just go through the Investment Portfolio of any ELSS Mutual Fund and you will see that nearly 30%-50% comes under haram.
Home Loans
If you have taken a Home loan from a Bank/ NBFC, you are surely paying interest and by Shariaah both the interest payer and receiver are equally sinful. The only way this can be made halal for tax purposes is that you take a loan from your father/ mother or some close relative with 0% interest and just show to the government that you are paying them interest.
Compulsory Investments
The following are Tax Saving Investments for salaried employees and are usually compulsory; so you do end up forcefully investing in them.
1.      EPF (Employee Provident Fund)
2.      Superannuation.
Since they are forced over you, you can't do anything about it. However, whenever you resign you can withdraw the same.
Conclusion
So what do you do? It's simple you pay the Tax. What else can you do? It might be haram to pay such high levels of tax, since there is no basis in religion for such high taxes and much of the money doesn't get used up in the right way. However, to prevent one haram that is forced upon you, it is not right to willfully commit another haram by investing in non-Shariaah way. Allah knows best.

How To Withdraw Your Money From PPF Account

Hour of the need is money for many people and even if they had made investment say, under section 80C of our IT Act, they are not clear whether they are eligible to withdraw their money after maturity or partially. The post will give a clear idea about PPF Withdrawal.
The PPF is a Central Government Scheme, which is a long term small savings scheme to provide retirement security to self-employed individuals and workers in the unorganized sector. PPF account can be opened in any branches of State Bank of India or its subsidiaries or select branches of designated nationalized banks or select Post Offices across India. How to open an account or rules is not a matter now. The point here is to withdraw on maturity or partial withdrawal from account or continuation of account after maturity with investment or earning interest without investment.
Consider the below chart with applicable PPF rules where Rs. 1,00,000 is deposited in a PPF account from the Year 2011 to 2028. Account holder can withdraw from PPF account after completion  after the expiry of 5 full financial years from the end of the year in which initial investment was made or say amount can be withdrawn after completion of 6 years.

In the above case, account holder can withdraw money from his / her PPF Account only at the end of 6th Year of operation, so its ideally 7th year beginning. The PPF Withdrawal Rules in states that the maximum amount of withdrawal from PPF Account is 50% of the amount retained / remaining in the PPF account in the end of 4th year. In the above example its Rs. 3,55,293.45 INR and 50% of this amount is Rs.1,77,646.73 INR and so the Withdrawal Rules in PPF continues till the end of 12th year of which the amount can be withdrawn during the 15 year end. So ideally in PPF Withdrawal Rules is valid from 7th year end to 15th year end.
On maturity, the account holder can decide to withdraw all the money which is exempted from tax. The account holder of PPF account can continue to invest in PPF Account after the completion of maturity period by extending his lock-in-period for block of 5 years. In-case, if the account holder chooses to extend the account without making any fresh contributions, the left over balance will continue to earn interest till it is withdrawn.
For clear information about PPF account opening and withdrawal rules, refer Rajesh Goyal's article on PPF account AllBankingSolutions.com and www.ppfaccount.in

What Is Big With Sukanya Samriddhi Account aka Selvamagal Semipu With Calculator Chart

The talk of the town and many places are about a new scheme going hot on whatsapp circulation, it is not about “Sukanya Samriddhi Account”, and it is about making money or a kind of investment to the expectations of people who are looking to make easy money. The scheme about parents having a daughter who is below 10 years, they need to open an account in her name by paying Rs. 1000 for the first time and has to pay Rs. 100 every month till she completes the age of 21 will get Rs. 6,50,000 for her marriage. How it is possible? Even one who opens an account for his or her infant baby and pays that monthly Rs. 100 at the age of 21, with interest it will come to Rs. 40,000 or so, but how come the amount jump to Rs. 6,50,000 seems a fake message in the name of “Selva Maghal Thirumana Thittam” (Disclaimer: Please, check for such a scheme).
If you google and do a search for “Selva Maghal Thirumana Thittam”, you will find a lot of marriage halls in Tamil Nadu but not the information about scheme. What I found was “Sukanya Samriddhi Account” or “Selvamagal Semipu”, which is a Girl Child Prosperity Scheme where a parent or guardian needs to open an account in girl’s name in a post office or authorized commercial bank and earn an interest currently 9.1% (FY 2014-15)  to whatever the amount the deposited in that account to a maximum cap of Rs. 1,50,000 per account per year and the amount is exempted under section 80C of income tax, India.
Be sure that one may not get Rs. 6,50,000 on paying Rs. 100 every month till the girl attains the age of 21, it is a Girl Child Prosperity Scheme named “Sukanya Samriddhi Account” launched with effective notification from Ministry of Finance with notification number G.S.R.863(E) Dated 02.12.2014, scheme will be governed by ‘Sukanya Samriddhi Account Rules, 2014’
Under the scheme, an interest of 9.1 per cent is provided on deposited amount which is tax free. The account under this scheme a saving account can be opened by the parent or legal guardian of a girl child of less than 10 years of age (born on or after: 02-December-2003; For FY 2014-15) with a minimum deposit of 1,000/- in any post office or authorized branches of commercial bank.
Partial withdrawal up to 50 per cent of the account balance is allowed to meet education expenses of the girl child till she attains 18 years of age. The account will remain operative for 21 years from the date of opening of the account or till marriage of the girl child.
Features Of Sukanya Samriddhi Account
  • Per girl child only single account is allowed. Parents can open this account for maximum two girl child. In case of twins this facility will be extended to third child
  • Minimum deposit amount for this account is 1,000/- and maximum is 1,50,000/- per year.
  • Money to be deposited for 14 years in this account.
  • Interest rate for this account is 9.1% per annum, calculated on yearly basis ,Yearly compounded.
  • Passbook facility is available with Sukanya Samriddhi account.
  • From FY 2015-16 the interest earned on account will be tax exempted. As per Finance Bill 2015-16.
Document required for opening Sukanya Samriddhi Account:-
Birth certificate of girl child along with  Address proof and Identity proof of parent or gurdian of the girl child.
Below chart is to understand the amount invested and final amount to be received till the girl child attains the age of 21 in Sukanya Samriddhi account. Table gives a clear picture for yearly investment of Rs. 1,000.00 and Rs. 1,50,000.00 for a investment period of 14 years.
Thanks to my investment ideas: http://goo.gl/dfJ0eF 

Over Rs. 4 lakh worth valuables stolen in Visharam

Valuables worth Rs.4.20 lakhs including a diamond necklace, gold jewels weighing 20.5 sovereigns, 250 g of silver articles and a cell phone were stolen from a locked house in Saleem Nagar in Keezhvisharam in Arcot Town Police Station limits on Tuesday night.

According to the police, Mohammed Basha, a professor in a private engineering college in Melvisharam locked the house and went to Bangalore with his family members on Tuesday afternoon to see the wife of his friend who had been admitted to a hospital.
When he returned home in the early hours of Wednesday, he found the lock of the main door broken open. The valuables kept in the cupboard were missing. On his complaint, the Arcot Town Police registered a case. Subbiah, Inspector of Arcot Town Police Station is investigating the case.
Source: THE HINDU

10 Workers Killed in Wall Collapse at Industrial Plant in Tamil Nadu

10 Workers Killed in Wall Collapse at Industrial Plant in Tamil Nadu
Vellore, Tamil Nadu, India: Ten people, all reported to be factory workers, died after a wall collapsed today in an industrial plant in Vellore district of Tamil Nadu.

The accident happened in the SIPCOT industrial area in Vaniyambadi after a waste treatment plant at the site burst open and the sledge knocked down the wall, which collapsed on the workers sleeping in the adjoining plot, say police officials.

Seven of the deceased victims are migrant labourers from West Bengal, says the police at the spot.
Story first published: Jan 31, 2015 07:51 IST

Fleshing Energy by Lian Chawii of Down To Earth

Tanneries in Tamil Nadu now use the fleshings produced by them to generate electricity published on Oct 31, 2001 | From the print edition - http://www.downtoearth.org.in/node/17142

THE tanneries in India have a reputation that they can do without. In Vellore, Tamil Nadu, the tanneries are working to save their reputation by generating green electricity . They have set up a biomethanation plant which uses the fleshings produced by them to generate electricity for its common effluent treatment plant (CETP). By installing the plant the tannery has been able to do two things -- one, reduce the stench of putrefaction and pollution that the fleshings used to produce, and two, generate electricity from waste.
In India, there are around 3,000 tanneries and more than one third of them are located in Tamil Nadu. These tanneries, mainly concentrated in Melvisharam, process 300,000 tonnes of hide and skin per year and generate around 140 tonnes of fleshing per day. Fleshings are the flesh scrap generated during the process of conversion of skins and hides into leather. With proper means of disposal absent, these fleshing -- a health hazard -- are often thrown indiscriminately, creating an obnoxious smell and an unsightly appearance.
Earlier, the fleshings were used to manufacture glue, but the market for it declined with the emergence of synthetic glue. They were then disposed in landfills, but this contaminated the groundwater, causing the total dissolved solids in groundwater to go as high as 4,900 mg per litre in certain areas, which is about ten times beyond the permissible level. Incineration too had its own problems. "The quantity was too large to manage, it gave an obnoxious odour," says Alwar Ramanujam, assistant director, department of environmental technology at the Central Leather Research Institute (CLRI) in Chennai.
But with the biomethanation plant in place, the people living in the tanneries' vicinity will be able to live in a less polluted environment. The capital cost of the plant is Rs 1.57 crore. The Union ministry of non-conventional energy sources has paid 60 per cent of it, with United Nations Industrial development Organisation providing another 17.5 per cent. The Indian Renewable Energy Development Agency and other beneficiaries have met the remaining cost. "The concept was new to India, so everyone was apprehensive in the beginning," says Ramanujan.
The biomethanation plant, which began operation in January 2000, is designed by a French engineer, Michel Aloy and maintained by around 15 tanneries with the technical assistance from CLRI . It has two digesters of 130 cubic metre capacity and is designed to process five tonnes of waste per day -- three tonnes of fleshings and two tonnes of primary sludge from the treatment plant. The fleshings and other solids are collected daily by trucks from the tanneries and deposited at the plant. The fleshings are then minced to peices of about six micron diameter and then mixed with the primary sludge. After it is homogenised, the mixture is fed into a feed chamber.
The primary sludge from the CETP , which contains 90 per cent liquid, is used to run the plant, thus solving the need to use large quantities of clean water. Operating a biogas plant usually requires equal amount of water and fleshing. "Fortunately, the fleshings also contain around 80 per cent liquid," says P A Shanmugan, senior scientist at CLRI .
From the feed chamber, the substrates are transferred to the first digester. It takes 26 days to fill both the digesters, after which five cubic metres of the substrate is taken out from the second digester and a similar amount is added to the first digester. The fleshings are retained in the digester for 26 days. Biological process then takes place inside the digester at 32-34 C. The bacteria converts organic pollutant to methane. A safety valve releases the gases produced. Apart from lime, which is used to neutralise the acidic content of the flesh, no chemicals are used. The remaining scum is taken out by a centrifugal pump, which separates the solids from the liquid, from the top of the digester. The solid material is then directed back to the bottom of the digester.
The plant generates around 312 cubic metres of gas and 1,200 kwh of power daily, out of which 250 kwh is used to operate the plant. The remaining 950 kwh is used to meet the partial requirement of the CETP . According to Shanmugan, the CETP consumes 7,500 kwh of energy per day.
Though there are around 36 tanneries in the locality that generate a total of around 12-13 tonnes of fleshings per day, the plant can take only upto five tonnes right now. But plans are afoot to set up more on the same lines.

SIM-swap fraud: Digitally Stealing Your Money


 Mobile phones or gadgets are the most convenient tool to access our banking services, on the other side fraudsters are now-a-days are highly skilled to steal your money. One of the current trending news is the use of SIM-swap method used by these fraudsters.
It is worthy to bring awareness to our gadget freak Visharami on how to prevent such kind of frauds and protect our hard earned money.
Be sure that your mobile phone always show network signals or connected to network. Check whether or not receiving calls or text messages for unusually long periods.
Do not switch-off your mobile phone if you are receiving numerous calls, fraudsters may trick you to switch-off your phone so that you do not notice any fraudulent transaction SMS etc or try to prevent you from noticing a tampered network connection to accessing your bank accounts.
Indian financial systems are one of the most secured system, still fraudsters may trick you, be vigilant to any SIM swap or other financial SMS messages receiving on phone. Always have a watchful custody of your mobile phone or other gadgets used in for your financial transactions.
Be sure that whether you lost your money from smart phone or lost your wallet or lost the money on the road, it gives the same emotion.

One day Seminar on Tahaffuz-e-sunnat by Tanzeem-e-ulama, Melvisharam


Assalamu alaikum W/w all,
Tanzeem-e-ulama, Melvisharam has planned for a one day seminar "On Tahaffuz-e-Sunnat" to be held insha-allah on Sunday 14, December 2014, between 9:00am -12pm at HM auditorium
For all the students From 12th standards to PG and Ph.D., students, working Graduates, working professionals and for all young Generations of Melvisharam.
On the Topics of Tahaffuz-e-Sunnat-o-shariath and safeguard our eman and yaqeen.
To protect ourselves from other brain washers regarding our religious aspects.
Its a very important seminar for all of us, all are requested to make their presence for this first ever kind of event on Sunday.
Do inform yourself to invite your friends, batch-mates juniors seniors schoolmates college-mates workmates, etc
Organised by: Tanzeem-e-ulama, Melvisharam

Filing PF Withdrawal Claims Online Likely to be a Reality in December 2014

New Delhi: The Employees' Provident Fund Organisation (EPFO) will launch the online facility for submitting provident fund withdrawal claims in December, which would quicken such settlements and benefit its over five crore subscribers.
At present, subscribers of the retirement fund body have to file PF settlement claims manually after they leave a job or after their retirement. The online application of such claims would enable EPFO to eventually settle those within three days.
"EPFO has decided to provide the facility of online application for PF withdrawal claims. It will be launched by mid-December," a source said.
According to the source, all those subscribers whose PF and bank accounts are linked with Aadhaar number would be able to avail this facility.
Elaborating further he said that since Aadhaar number provide anywhere anytime authentication of identity on the basis of captured biometric details of a person, there would be remote chances of fraud or cheating.
A senior official said that sometimes EPFO takes more than mandated 30 days for settling provident fund withdrawals claims due to various reasons including errors while filling the manual form.
He said, "EPFO would eventually settle all type of claims including PF withdrawal and transfer within three days of filing those applications."
EPFO has planned to settle 20-30 per cent of PF claims online by the end of this financial year. During the last fiscal year, it had settled a total of 1.21 crore claims including over a million PF transfer cases.
The body has recently issued over four crore Universal PF Account Numbers (UAN) which are being seeded with Aadhaar number and bank accounts. This portable PF account would enable subscribers to have only one account while working with various employers throughout his/her life.

Changes in Provident Fund Rules

Changes in Provident Fund Rules
planning for retirement is as important as planning for one’s career and marriage. Everybody wishes to have a secure, independent retirement life, where you would not depend on others for your needs. Investments and allocations are accordingly channelized in this direction to achieve the desired goals. The Employee Provident Fund (EPF), Employee Pension Scheme (EPS) and Public Provident Fund (PPF) are some of the popular products to invest for the retirement years.

In the past few months, radical changes have been introduced in these schemes. Let us have a look at them.

1) PF portability: Every time you join a new company, you were given a new PF number. Then you had the option of moving your funds to the new account. Whether you did this or not affected the taxability of your PF deposits. Not any more. Your PF accounts are now going to be portable. The Prime Minister Narendra Modi is going to launch the much-awaited Universal PF Account Number (UAN) website to enable PF portability on October 16. The UAN will be portable throughout the working career of an employee. With the UAN in place, workers in the organized sector need not apply for transfer of PF claim in case of job-change. This means, the PF subscriber will not get a new number on joining a new firm. Instead the employee will get an ID linked to UAN. So, this mechanism will help in smoothening PF transfer claims. The new website is expected to provide an individual personalized log-in mechanism to help in tasks like viewing updated PF amount, transfer claims and updating KYC.

Currently, the EPFO is in the process of linking the UAN of its 40 million subscribers with their bank accounts, Permanent Account Number (PAN), Aadhar and other identification details.

2) Bank account and PF portability: The retirement fund body has asked companies to provide bank account numbers of their employer members by October 15. It has also asked for the IFSC or Indian Financial System Code number for easy transfer of PF payment. The IFSC helps identify the branch where the account is based. This helps transfer money easily. The bank account numbers with IFSC codes will be linked to the Universal PF Account Number (UAN). This will help in portability of PF accounts.

3) Higher PF wage ceiling: The retirement fund body Employee Provident Fund Organization (EPFO) has raised the salary limit for maintaining a PF account to Rs 15,000. Earlier, the limit was Rs 6,500 per month. This means, any organized sector employee earning up to Rs 15,000-a-month have to compulsorily hold an EPF account with the government. For those earning more than Rs 15,000, it is a voluntary option. This is to ensure that low-wage earners have a sufficient kitty to help them in their retirement. This new measure is expected to bring in 50 lakh new PF subscribers, according to the EPFO.

12% of an employee’s basic salary goes to the PF account and is payable back to him/her together with interest once he/she leaves the company. The employer too pays an equal sum – 12% of the basic salary. Out of this, 8.33% goes into the pension scheme and 3.67% into the EPF.

As of now, only organized sector employees are covered under the social security scheme. They amount to about 8% of the total workforce. This still leaves the majority of India’s workers in the unorganized sector without sufficient retirement help.

4) Minimum monthly pension: Once the EPFO subscriber dies, his or her family gets an amount on a monthly basis. The government has raised the minimum monthly pension distributed to Rs 1,000 per month for the financial year 2014-2015. This move will benefit about 28 lakh pensioners, especially widows, some of whom get a paltry sum of Rs 150-200 a month.

5) Insurance limit hiked: Maximum sum assured under Employee Deposit Linked Scheme, 1976 (EDLI) has been hiked to Rs 3 lakhs plus 20% ad hoc benefit over the prescribed amount. This means in case of the death of the subscriber under EPFO, his family is entitled to get Rs 3.6 lakhs instead of the current Rs 1.56 lakhs.

All employers to whom the Employee Provident Fund and Miscellaneous Provision Act applies, have to mandatorily subscribe to the EDLI scheme to provide life insurance benefit to their employees.

The above 3 changes have come into effect from September 1, 2014

6) PF interest rate: When you invest in a provident fund, you earn an interest. The government fixes this rate on a yearly basis. For the year 2014-15, the interest rate on provident fund deposits has been retained at 8.75%. This means, the nearly 50 million PF subscribers will earn 8.75% on their deposit amount this year.

7) Tax on PF withdrawal: If an employee withdraws his PF accumulation before five years of completing service, the entire amount withdrawn will be taxable for that year. However, if you transferred your PF every time you changed you job, your total tenure of work will be calculated. For example, if you worked for a year at company A and for four years at company B, and you transferred your PF, then a total work-period of five years will be calculated.


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Free Healthcare Assistance

Free Healthcare Assistance
Ayesha foundation in association with Crescent hospital proposes to conduct a free surgical camp on Sunday 2nd Nov for the poor. Surgeries that are planned are hernia, piles, fissures, appendectomy, fistula, hydrocele, skin lumps (lipoma sebeaceous cysts, etc). Surgery will be done by a leading surgeon from a reputed hospital. The surgeries are completely free of cost and the patients will be discharged on the same day. For details and registration contact Abdul Huq 9840067386. Pls pass the word

Changes in Provident Fund Rules

Changes in Provident Fund Rules
Planning for retirement is as important as planning for one’s career and marriage. Everybody wishes to have a secure, independent retirement life, where you would not depend on others for your needs. Investments and allocations are accordingly channelized in this direction to achieve the desired goals. The Employee Provident Fund (EPF), Employee Pension Scheme (EPS) and Public Provident Fund (PPF) are some of the popular products to invest for the retirement years.

In the past few months, radical changes have been introduced in these schemes. Let us have a look at them.

1) PF portability: Every time you join a new company, you were given a new PF number. Then you had the option of moving your funds to the new account. Whether you did this or not affected the taxability of your PF deposits. Not any more. Your PF accounts are now going to be portable. The Prime Minister Narendra Modi is going to launch the much-awaited Universal PF Account Number (UAN) website to enable PF portability on October 16. The UAN will be portable throughout the working career of an employee. With the UAN in place, workers in the organized sector need not apply for transfer of PF claim in case of job-change. This means, the PF subscriber will not get a new number on joining a new firm. Instead the employee will get an ID linked to UAN. So, this mechanism will help in smoothening PF transfer claims. The new website is expected to provide an individual personalized log-in mechanism to help in tasks like viewing updated PF amount, transfer claims and updating KYC.

Currently, the EPFO is in the process of linking the UAN of its 40 million subscribers with their bank accounts, Permanent Account Number (PAN), Aadhar and other identification details.

2) Bank account and PF portability: The retirement fund body has asked companies to provide bank account numbers of their employer members by October 15. It has also asked for the IFSC or Indian Financial System Code number for easy transfer of PF payment. The IFSC helps identify the branch where the account is based. This helps transfer money easily. The bank account numbers with IFSC codes will be linked to the Universal PF Account Number (UAN). This will help in portability of PF accounts.

3) Higher PF wage ceiling: The retirement fund body Employee Provident Fund Organization (EPFO) has raised the salary limit for maintaining a PF account to Rs 15,000. Earlier, the limit was Rs 6,500 per month. This means, any organized sector employee earning up to Rs 15,000-a-month have to compulsorily hold an EPF account with the government. For those earning more than Rs 15,000, it is a voluntary option. This is to ensure that low-wage earners have a sufficient kitty to help them in their retirement. This new measure is expected to bring in 50 lakh new PF subscribers, according to the EPFO.

12% of an employee’s basic salary goes to the PF account and is payable back to him/her together with interest once he/she leaves the company. The employer too pays an equal sum – 12% of the basic salary. Out of this, 8.33% goes into the pension scheme and 3.67% into the EPF.

As of now, only organized sector employees are covered under the social security scheme. They amount to about 8% of the total workforce. This still leaves the majority of India’s workers in the unorganized sector without sufficient retirement help.

4) Minimum monthly pension: Once the EPFO subscriber dies, his or her family gets an amount on a monthly basis. The government has raised the minimum monthly pension distributed to Rs 1,000 per month for the financial year 2014-2015. This move will benefit about 28 lakh pensioners, especially widows, some of whom get a paltry sum of Rs 150-200 a month.

5) Insurance limit hiked: Maximum sum assured under Employee Deposit Linked Scheme, 1976 (EDLI) has been hiked to Rs 3 lakhs plus 20% ad hoc benefit over the prescribed amount. This means in case of the death of the subscriber under EPFO, his family is entitled to get Rs 3.6 lakhs instead of the current Rs 1.56 lakhs.

All employers to whom the Employee Provident Fund and Miscellaneous Provision Act applies, have to mandatorily subscribe to the EDLI scheme to provide life insurance benefit to their employees.

The above 3 changes have come into effect from September 1, 2014

6) PF interest rate: When you invest in a provident fund, you earn an interest. The government fixes this rate on a yearly basis. For the year 2014-15, the interest rate on provident fund deposits has been retained at 8.75%. This means, the nearly 50 million PF subscribers will earn 8.75% on their deposit amount this year.

7) Tax on PF withdrawal: If an employee withdraws his PF accumulation before five years of completing service, the entire amount withdrawn will be taxable for that year. However, if you transferred your PF every time you changed you job, your total tenure of work will be calculated. For example, if you worked for a year at company A and for four years at company B, and you transferred your PF, then a total work-period of five years will be calculated.


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