CAGR - Compound Annual Growth Rate

The compound annual growth rate (CAGR) is the mean annual growth rate of an investment over a specified period of time longer than one year.

To calculate compound annual growth rate, divide the value of an investment at the end of the period in question by its value at the beginning of that period, raise the result to the power of one divided by the period length, and subtract one from the subsequent result.
This can be written as follows:

CAGR

Capgemini paid a lot to secure place in the US

Capgemini paid a lot to secure place in the US

Insurance Facts - Four Insurance which one should always have

Insurance Facts - Four Insurance which one should always have


1.   Life insurance


If your parents, spouse, children or other loved ones were to face financial hardship if you are no more, life insurance should be high on your list of required insurance policies. Your life insurance requirement translates to how much income your family would need if you died. It's determined by what the ongoing financial needs are or soon may be.


How much do you need?


Your life insurance cover should be equal to 12-15 times your annual expenses or 8-10 times your annual income. If you have a debt, such as a home loan, that should be included too when calculating your cover.


2.   Auto insurance

Automobile insurance is something you shouldn't miss. If you are involved in an accident, and someone is injured or their property is damaged, you could be subject to a lawsuit that could possibly cost you everything you own. Accidents happen quickly and the results are often tragic.
The own-damage cover insures your vehicles against theft or damage and passenger cover insures the lives of the passengers of the car. Insurers don't pay the cost for replacing certain parts of your vehicle but only the depreciated value.

3.   Health insurance


The soaring cost of medical care is reason enough to make health insurance a necessity. Even a simple visit to the family doctor can result in a hefty bill. Serious injuries, resulting in a hospital stay, can generate a bill that tops the price of a one-week stay at a luxury resort.


How much do you need?


Going by the average cost of major surgeries a sum insured of at least Rs6-7 lakh is important. However, if your policy has a lower sum insured, you can consider top-up plans.

4.   Home loan insurance


A home is a place where dreams are built, memories are treasured and relationships are reinforced. Buying and owning a dream home is an aspiration all of us have and it is one of the most important financial decisions you will need to make. Most Indians who decide to buy a home opt for a home loan from one of the lenders. A home loan is one of the longest debts in your life, which requires a long term commitment. You owe money to the lender and this increases your risk profile. A home loan insurance plan mitigates this risk. If something happens to the main borrower and the the family can't afford to pay the EMIs, they can be evicted from the house.

 

 

Online Application Guideline for New PAN (Form 49A)

Online Application Guideline for New PAN (Form 49A)

Guidelines
(1)	An applicant will fill Form 49A online - https://tin.tin.nsdl.com/pan/form49A.html and submit the form.
(2)	On submission, an acknowledgement will be displayed. The acknowledgement will contain a unique 15-digit acknowledgement number.
(3)	The applicant is requested to save and print this acknowledgement.
(4)	'Individual' applicants should paste two recent colour photographs with white background (size 3.5 cm x 2.5 cm) in the space provided in the acknowledgement.
(5)	Signature / Left Thumb Impression should only be within the box provided in the acknowledgement. The signature should not be on the photograph affixed on right side of the form.
(6)	If communication Address is within India
	(a). The fee for processing PAN application is 105.00 ( 93.00 + 12.36% service tax).
	(b). Payment can be made either by
	- Demand Draft
	- Cheque
	- Credit Card / Debit Card
	- Net Banking
	(c) If any of addresses i.e. office address or residential address is a foreign address, the payment can be made only by way of Credit Card / Debit card and Demand Draft payable at Mumbai.
(7)	If communication Address is outside India
	(a). The fee for processing PAN application is 971.00[ (Application fee 93.00 + Dispatch Charges 771.00) + 12.36% service tax].
	(b). Payment can be made only by way of Credit Card / Debit card and Demand Draft payable at Mumbai.
	(c). At present the facility for dispatch of PAN cards outside India is available for a select list of countries. Applicants from other countries may contact NSDL at the contact details given in point (v) below.
	This point is not applicable if applicant is providing the representative assessee details in the point no.14 of application form
(8)	Demand draft and cheque should be drawn in favour of 'NSDL - PAN'.
(9)	Demand draft shall be payable at Mumbai and the acknowledgement number should be mentioned on the reverse of the demand draft.
(10)	Applicants making payment by cheque shall deposit a local cheque (drawn on any bank) with any HDFC Bank branch across the country (except Dahej). The applicant shall mention NSDLPAN on the deposit slip. List of HDFC Bank Branches.
(11)	Credit card / Debit card / Net banking payment

For more details refer : https://tin.tin.nsdl.com/pan/form49A.html

Riders in Term Insurance

 Riders in Term Insurance

Most of the term plans also allow riders along with their plans. Riders are nothing but additional benefits which you can take by paying some extra premium. Lets see some of the riders and what they mean. A term plan might be offering some of the riders mentioned below.

AD (Accidental Death) : The policy pays you additional sum assured in case the death happens due to an accident . Note that even if you don’t take this rider, the sum assured is always paid on death, whether accidental or not !.
CI (Critical Illness) : This rider gives you a lump sum amount if you are diagnosed with an illness which is mentioned in the policy . Generally all the major illnesses are covered in Critical Illness cover.
DR (Accidental Disability Rider) : This rider covers you for disability and pays you Sum assured in 10 installments per year  incase you becomes temporary or permanent disabled person.
WP (Waiver of Premium) : This rider makes sure that incase you are not able to pay future premium due to disability or income loss, the future premiums are waived off , but your policy is still in force like always !

Retirement Insurance Plans : TERMS YOU NEED TO KNOW

Retirement Insurance Plans  : TERMS YOU NEED TO KNOW

VESTING AGE: The age at which you choose to start receiving pension.

ANNUITY: Regular monthly pension payable to you after your cross the vesting age.

SUM ASSURED: The amount that the nominee receives in the event of death of the insured during the accumulation period.

ACCUMULATION PERIOD: This is the period when you pay premiums to accumulate funds for retirement.

SURRENDER CHARES: Charges levied by the insurer if you end the policy before the date of vesting.

PARTICIPATING PLANS: These plans give a share of the insurer's profit to policy holders. This share is not fixed and depends on the financial performance of the company.

HRA and Home Loan Queries : How Tax benefits work

1: You live in your own house You have taken a home loan and residing in the house purchased with it. Since you are residing in your own house, you will not be able to claim HRA. However, you will be able to claim tax benefits on both the principal and interest repaid on the home loan.

2: You own a house in another city
This situation was the one faced by Ajit. He resided in Mumbai but had bought an apartment in Chennai taking a home loan. Ajit will be entitled to HRA exemption and tax benefits on both, the principal and interest repaid on the home loan.

3: Your house cannot be occupied at this point (e.g. under construction)
You have bought a house in Mumbai taking a home loan and you're currently living in Mumbai in a rented apartment because the house is under construction. In such a case, you are eligible to claim HRA.
In the case of tax breaks on the home loan, you can claim tax benefits only for your principal before the completion of your house. Once your house is completed, you can claim tax benefits on the total interest paid up to the date of completion in five equal installments in five years beginning from the year of completion.

4: You have a house which is ready for occupation but you cannot reside in it
You have bought a house in Delhi taking a home loan and now you aren't residing in it but are living in a rented apartment in Delhi itself for genuine reasons e.g. the house that you have bought is far away from your office. In such cases, the Income tax act permits the individual to claim HRA and home loan benefits which includes both principal and interest repaid on the home loan.

Also, please note that if your house remains vacant, then you will still need to pay tax on a notional rent income.

5: You have rented your own house and currently residing in a rented house
You took a home loan and your house is now ready for occupation. You have rented the same out while you reside in a rented house. The Income Tax Act allows you to claim both HRA and home loan benefits.

However, in such a case, since you are the recipient of rent because you have let out your own house, that income is taxable at your hands

How to get an online EPF Pass book

How to get an online EPF Pass book

Employees Provident Fund (EPF), generally known as PF is a retirement benefit scheme available to the salaried class in India, wherein both the employer and employee contribute an equal amount towards the fund. This year, the EPFO (Employees Provident Fund Organization) has introduced an e-passbook facility for members, which enables them to check their PF account online.

What is an EPF e-passbook?

The EPF e-passbook is an online version of the employee’s provident fund account. Transactions are recorded date-wise and these can be tracked easily by the member. You can check your EPF balance online anytime you wish to.

How to register online?

Registration on the EPFO website is necessary to avail the e-passbook facility. The following steps need to be followed to register online -

1.      Visit the EPFO members site - http://members.epfoservices.in/

2.      Click on the “Register” at the bottom of the page or “Click here to Register” button under the Login area.

3.      You will reach the registration page, where you will have to enter your mobile number mandatorily. You will also need to enter your date of birth, email id and select one of the eight documents (PAN number, Aadhar (UID), NPR (National Population Register), bank account number, voter ID card, driving license, passport number or ration card number) along with its unique number and your name as it is in the document. On entering a six digit unique text character, you will have to click “GET PIN” to get a four digit authorization PIN on your mobile.

4.      Once you receive the PIN on your mobile, you will have to enter this PIN in the box provided at the bottom of the page. Check the “I agree” box and click on “Submit” button.

5.      After clicking on “Submit”, your registration will be complete and you will get a confirmation message on your mobile.
This completes the registration process on the EPFO member website.

How to generate e-passbook?   
After successful registration, you will need to login to your account in the member login area to generate the e-passbook. The following steps need to be followed.

1.      Log in to your account by selecting your document, entering the document number and your mobile number that you entered on the Registration page and click on the “Sign In” button.

2.      When you successfully login, you will see your name on the right hand side of the page. This is the page on which you can edit your personal details and also download your EPF e-passbook.

3.      When you click on “Download E Passbook” link, you will be prompted to select the state under which your establishment is covered.

4.      On selecting the state, you will be asked to choose the EPFO office. If you are unaware about the EPFO to which you belong, you can use the establishment search facility to get these details.

5.      When you have selected the EPFO office, you should now enter your EPF account number. The next step is to enter your name, which should exactly match EPF records.

6.      Click on “Get PIN” to receive the PIN on your mobile and email. Do not close this page till you receive the PIN on your mobile/email.

7.      When you receive the authorization PIN, you will need to enter this in the “Enter Authorization PIN” box, check the “I Agree” button and then click on “Get Detail”.

8.      You will then be able to download the PDF.

Points to remember while using EPFO’s e-passbook facility:

1.      Only one mobile number can be used for one registration. However, your mobile number details can be edited subsequently.

2.      You can view details of only one EPF account under one establishment. If you wish to view details of all your EPF accounts under a single establishment, then you will have to first transfer one EPF to another.

3.      You can view a total of 10 EPF accounts under different establishments. You can view your accounts any number of times and transfer old EPF accounts to existing ones too.

4.      You will not be able to view details of inoperative accounts and also EPF accounts which have been settled.

5.      If you have left your job before March 2012, then you will not be able to see details online. However, you can place a request for the same on the website and it will be uploaded in a few days.

6.      For logging into your account you just need your mobile number, document name and document number.

7.      You can use multiple ids to register by using different document types.

The EPFO’s e-Passbook facility is a welcome move which will enable employees in managing their EPF accounts in a better manner. The success of this facility depends on the efficiency of the EPFO in managing the website and handling requests from the members.

Compute your Tax Liability

Compute your Tax Liability

Step 1 : Go to http://law.incometaxindia.gov.in/DIT/Xtras/taxcalc.aspx link for Tax - This calculator helps you to calculate your tax liability based on your taxable income.

Step 2  : Select assessment year

Step 3  : Select type of Assessee  ( INDIVIDUALS,HUF, AOPs/BOIs FIRMS, DOMESTIC COMPANIES,FOREIGN COMPANIES, CO-OPERATIVE SOCIETIES

Step 4  : Select Income of Individuals as Resident, FemaleResident, Senior Citizen (60 years or more but less than 80 years), Resident - Very Senior Citizen (80 years or more) or Any other

Step 5  : Enter net income

Step 6  : Click on Compute Tax Liability button. Income tax details will be displayed below.

4 Easy Step to get Mutual Fund - Consolidated Account Statement

4 Easy Step to get Mutual Fund - Consolidated Account Statement

One can get Mutual Fund - Consolidated Account Statement from any of three registrars - CAMS , Karvy and Franklin Templeton. Follow the below steps to register your email and obtain a consolidated PDF account statement :

Step 1 :

Visit one of below links : www.karvymfs.com/platformservice and www.camsonline.com/default1.html ( Click on Mailback services -> Click on Consolidated Account Statement - CAMS+Karvy+FTAMIL link )



4 Easy Step to get Mutual Fund - Consolidated Account Statement



Step 2 :

Enter your email address

Step 3 :

Enter a password ( atleast 6 characters long and should contain atleast 2 numbers ). This password will be used for opening pdf.

Step 4 :

Receive the pdf of CAS. Use password to open it

EPFO : Know your PF Cliam Status

Go to http://www.epfindia.com/ and Click on Know Your Claim Status link

Know

　Your 　Claim 　Status 　‐　How 　to 　use 　the 　facility? 　

　

This

　facility 　is 　meant 　for 　EPF 　Members/subscribers/pensioners 　who 　have 　submitted 　a 　claim 　in 　any 　of 　the 　EPFO 　offices 　across 　India. 　Using 　this 　facility 　one 　can 　track 　the 　　status 　of 　a 　claim 　so 　submitted. 　The 　only 　pre‐requisite 　is 　you 　must 　know 　your 　PF 　Account 　Number. 　1. 　If 　you 　know 　the 　EPF 　Office 　from 　where 　your 　claim 　has 　to 　be 　settled, 　select 　the 　same 　from 　the 　office 　drop 　down 　list. 　2. On 　selection 　of 　office, 　the 　mandatory 　Region 　Code 　and 　Office 　Code 　will 　get 　populated 　automatically 　in 　the 　respective 　boxes. 　　3. Enter 　the 　Establishment 　Code 　in 　the 　third 　box 　– 　which 　can 　be 　of 　maximum 　7 　digits. 　4. In 　case 　the 　Establishment 　Code 　has 　an 　extension 　/ 　sub‐code, 　enter 　the 　same 　here. 　It 　can 　be 　a 　digit 　or 　letter 　as 　the 　case 　may 　be 　and 　can 　be 　of 　maximum 　3 　characters 　in 　size. 　Leave 　this 　field 　blank, 　if 　there 　is 　no 　extension 　/sub‐code 　to 　the 　Establishment 　Code. 　5. Enter 　your 　account 　number 　which 　can 　be 　of 　maximum 　7 　digits. 　6. Click

　

　on 　submit 　to 　get 　the 　status. 　

Example:

‐　Case 　– 　I 　– 　PF 　Account 　Number 　without 　an 　extension/sub‐code 　to 　Establishment 　Code: 　

Suppose

 that 　MH 　and 　BAN 　has 　been 　populated 　already 　in 　the 　first 　two 　fields. 　

Now

　

　enter 　the 　Establishment 　Number: 　

Leave

　

　

　

　the 　next 　field 　– 　Extension 　– 　blank 　and 　enter 　your 　account 　number 　in 　the 　last 　field: 　

Now

　

　click 　on 　"Submit" 　to 　get 　the 　status. 　　

As

　

　

　

　

　

　

　

　

　

　

　this 　is 　an 　non‐existing 　number, 　　we 　get 　a 　"No 　Record 　Found" 　message. 　In 　legitimate 　cases, 　appropriate 　messages 　will 　be 　displayed. 　

Example:

‐　Case 　– 　II 　　– 　PF 　Account 　Number 　without 　an 　extension/sub‐code 　to 　Establishment 　Code: 　

In

　

　

　case 　there 　is 　an 　Extension/Sub‐Code 　to 　the 　Establishment 　Code, 　say, 　"A", 　then 　　enter 　the 　same 　as 　under 　before 　entering 　the 　account 　number: 　

Now

　

　

　Click 　on 　"Submit" 　to 　get 　the 　status: 　

Again,

 

Note:

‐　

Please

　 　note 　that 　in 　case 　the 　claim 　is 　not 　entered 　in 　the 　system/software 　for 　some 　reason 　or 　it 　is 　outside 　the 　dates 　as 　mentioned 　in 　the 　footer 　of 　the 　screen 　above, 　　such 　a 　record 　will 　NOT 　appear 　in 　this 　facility. 　In 　other 　words, 　ideally, 　a 　claim 　should 　have 　been 　submitted 　and 　an 　system 　generated 　claim 　ID 　should 　have 　been 　obtained 　for 　using 　this 　facility. 　　

　as 　this 　is 　an 　non‐existing 　number, 　　we 　get 　a 　"No 　Record 　Found" 　message. 　In 　legitimate 　cases, 　appropriate 　messages 　will 　be 　displayed. 　

　

Note 　

　your 　PF 　Account 　Number 　is 　MH/35634/523 　and 　the 　office 　is 　Bandra, 　Select 　Bandra 　from 　the 　list 　as 　under: