« previous next »
Pages: «  1 2 3 4 5 ... 24 »   Go Down

Author Topic: All about PPF/GPF/EPF  (Read 57282 times)

RAJEEVSETHI

  • Guest
Re: All about PPF/GPF/EPF
« Reply #20 on: April 21, 2012, 03:57:12 PM »
RATE OF INTEREST IS 8.6% P.A. w.e.f. 1/12/2011.PLZ MODIFY IT.

J.S.Sandhu

  • Real Member
  • **
    • Offline
  • Posts: 152
  • Gender: Male
    • View Profile
    • Email
Re: All about PPF/GPF/EPF
« Reply #21 on: April 21, 2012, 05:10:26 PM »
Quote from: RAJEEVSETHI on April 21, 2012, 03:57:12 PM
RATE OF INTEREST IS 8.6% P.A. w.e.f. 1/12/2011.PLZ MODIFY IT.

Respected Sir,

Thanks for your suggestion, but I couldn't understand your point.

1.   In this sheet "Interest Rate" cells are editable, you can fill the interest rate according to your own requirement & according to Financial Year.

2.  For  Financial Year 2011-12 we need to set the interest rate as following :

             April  2011 = 8 %
             May  2011 =  8 %
             June  2011 = 8 %
             June  2011 = 8 %
             July   2011 = 8 %
            August   2011 = 8 %
            September 2011 = 8 %
            October    2011 = 8 %
             November   2011 = 8 %

           December 2011 = 8.6 %
           January  2012 = 8.6 %
           February  2012 = 8.6 %
           March  2012 = 8.6 %

GPF interest from April 2011 to November 2011 will calculated @ 8 %
GPF interest from December 2011 to March 2012 will calculated @ 8.6 %

No doubt interest will be calculated annually. You can cross check calculations of this sheet with dummy data.

If still I am wrong please correct me, I will made the required changes in the sheet.


Regards,

J.S.Sandhu

spdeosi

  • Guest
Re: All about PPF/GPF/EPF
« Reply #22 on: April 21, 2012, 08:40:53 PM »
how we will calculate interest  if one withdraw from g p f

J.S.Sandhu

  • Real Member
  • **
    • Offline
  • Posts: 152
  • Gender: Male
    • View Profile
    • Email
Re: All about PPF/GPF/EPF
« Reply #23 on: April 21, 2012, 09:13:49 PM »
Quote from: spdeosi on April 21, 2012, 08:40:53 PM
how we will calculate interest  if one withdraw from g p f

Sir,

In this excel file there is a provision for withdrawl also.

In this sheet third column is "Bill Type". For any withdrawl entry select Withdrawl from "Bill Type" column and select the month from "Encashment Month" columns. Excel formula will arrange the withdrawl entry in the statement automatically & Interest will be calculated accordingly.

For example if a person have monthly GPF Subscription of Rs 5000 for each month of FY 2011-12  and He withdraw GPF amount of Rs 100000 in August 2011 then entries in this "Data Entry" sheet should be made like this.

GPF Amount            Monthof Encash.        Bill Type
5000                          April                       Salary
5000                          May                        Salary
5000                          June                       Salary
5000                          July                        Salary
5000                          August                   Salary
5000                          September              Salary
5000                          October                  Salary
5000                          November               Salary
5000                          December               Salary
5000                          January                  Salary
5000                          February                 Salary
5000                          March                     Salary
100000                      August                    Withdrawl
5450                          June                       Arrear

Please Note : These entries will be arranged monthwise automatically in statement and interest calculations. I mean if there are 2 entries for any month, those will be summed up automatically.

If still problem persist then you can send your query throuh  e-mail along with your mobile No.; I will call you back and can discuss the issue in detail.

Regards.

J.S.Sandhu
Email : jsandhu76@gmail.com

manpreet singh daid

  • Guest
Re: All about PPF/GPF/EPF
« Reply #24 on: April 23, 2012, 06:27:48 PM »
Sandhu Sir, thanks for the very useful excel sheet.......

keep uploading such things........

God bless you........

kulvir singh

  • Guest
Re: All about PPF/GPF/EPF
« Reply #25 on: April 23, 2012, 07:16:14 PM »
Quote from: harjit on April 20, 2012, 04:59:53 PM
Respected sir,
                     Thanks for uploading such a valuable sheet. Plz. upload one speciman sheet also.
Quote from: SANDHU_JASBIR on April 21, 2012, 05:56:19 AM
Sir,

As per your suggestion, I have attached the specimen copy of GPF Statement and GPF Slip with this reply.

Thanks

RAJ

  • Guest
Re: All about PPF/GPF/EPF
« Reply #26 on: April 26, 2012, 08:35:54 PM »
The Union Labour & Employment Minister Shri Mallikarjun Kharge has informed the Rajya Sabha that as per para 60(1) of the Employees' Provident Funds Scheme, 1952, rate of interest on the Employees Provident Fund is determined by the Central Government in consultation with the Central Board of Trustees, Employees Provident Fund. Central Government declared 8.25% rate of interest on EPF accumulation for the year 2011-12 based on the earnings of the Fund during the year.

Replying to a written question the Minister said however, requests from various Central Trade Unions have been received to maintain the existing rate of interest.

There is no proposal under consideration to restore the Employees Provident Fund rate of interest at 9.5 percent for the year 2011-12.

The interest rate on the Employees Provident Fund in a particular year depends on the earning of the Fund during that year. Based on the earning of the Fund during the year 2011-12, 8.25 percent rate of interest on the Employees Provident Fund has been approved by the Central Government.



R S Sidhu

  • Real Savvy
  • *****
    • Offline
  • Posts: 4777
  • Gender: Male
    • View Profile
Re: All about PPF/GPF/EPF
« Reply #27 on: June 12, 2012, 08:48:17 PM »
Punjab hikes rate of interest on GPF & CPF to 8.8 %  
Chandigarh 12 June :
 The Punjab Government has fixed the rate of interest on General Provident fund (GPF) and Contributory Provident Fund of government employees of the state to 8.8 per cent for the year 2012-13.
 Finance and Planning Minister, Parminder Singh Dhindsa today said that all the Departmental Heads, Commissioners of Divisions, Deputy Commissioners, Sub Divisional Officer (Civil) and Registrar, Punjab and Haryana High Court have been asked to do the needful in this regard. He said that this rate of Interest will also be applicable on all other such funds, in which government employees had deposited money. Dhindsa said that the new rate of interest would be applicable from 1st April, 2012.
 He said that the rate of interest from 1st April, 2011 to 30th November, 2011 was 8 per cent, whereas rate of interest was fixed at 8.6 per cent for the period of December 2011 to 31st March, 2012, which has now been increased to 8.8 per cent.
 
« Last Edit: June 12, 2012, 08:51:44 PM by R S Sidhu »

RAJ

  • Guest
Re: All about PPF/GPF/EPF
« Reply #28 on: July 26, 2012, 08:49:35 PM »
Now just log on to EPFO website to check your monthly balance

 " July 25, 2012Posted in: Business
New Delhi

Over 50 million subscribers of the retirement fund body EPFO can obtain e-passbook along with details of their updated accounts online from Wednesday.

 "The EPFO subscribers can get their statement of accounts online from today,   Central Provident Fund Commissioner R C Mishra said while addressing a seminar on Employees  Provident Fund Act by the PHDCCI here.

In order to avail this facility, the active subscribers would have to register themselves on the EPFO portal by furnishing their account details.

The facility to obtain e-passbook will be available only for active members of the Employees  Provident Fund Organisation (EPFO) and would not be extended to those whose accounts are inoperative, settled or have negative balance.

The members of exempted provident fund trusts regulated by the EPFO, too will too not be entitled for this facility through its portal.

The e-passbook will also have additional information like name, date of birth and account number.

Mishra also informed that the EPFO is in the process of introducing the facility of online settlement of provident fund claims in a couple of months.

At present, the subscribers who are either superannuated or applied for withdrawals, can apply only manually and is time consuming.

As per the EPFO citizen charter, such claims should be settled within a month, though it takes longer than that.

Mishra said in order to provide the facility of online application of claims, EPFO would require a central database. At present, all regional EPFO offices maintain their database separately.

 "These works including fund transfers, settlement of PF accounts and withdrawals constitute over 80 percent of our work,   he said, adding online claim settlement will save time and improve efficiency.
About admin
No Comments

RAJ

  • Guest
Re: All about PPF/GPF/EPF
« Reply #29 on: July 26, 2012, 08:50:55 PM »
E-passbook for EPFO account holders
Now EPFO details will be made available online
 (News posted on: 26 Jul, 2012)
   

   New Delhi 26 July (Babushahi.com Bureau): In a significant move more than 50 million subscribers of the retirement fund body, Employees' Provident Fund Organisation (EPFO), will be able to get an e-passbook, along with details of their updated accounts online from Wednesday. To avail the facility the subscribers would have to register themselves on the EPFO portal by furnishing their account details. The facility to get an e-passbook will be available only for active members of the EPFO, and won't be extended to those whose accounts are inoperative, settled, or have negative balance. The members of exempted provident fund trusts regulated by the EPFO, too, won't be entitled to this facility through its portal. The e-passbook will also have additional information, such as name, date of birth, and account number.
Pages: «  1 2 3 4 5 ... 24 »   Go Up
« previous next »
 

GoogleTagged