Premature Closure of Public Provident Fund (PPF) Account : Notification

Premature Closure of Public Provident Fund (PPF) Account : Notification

Premature Closure of PPF Account i.r.o. Minor Subcriber: Notification dated 18th June, 2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA. EXTRAORDINARY, PART II.

SECTION 3, SUB-SECTiON (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi. the 18th June 2016

G.S.R. . . .....(E) In exercise of the powers conferred by sub-section of (4) of section 3 of the Public Provident Fund Act 1968 (23 of 1968), the Central Government hereby makes the following scheme further to amend the Public Provident Fund Scheme, 1968, namely:-

1. (1) This Scheme may be called Public Provident Fund (Amendment) Scheme, 2016.

(2) It shall come into force on the date of its publication in the Official Gazette

2. In the Public Provident Fund Scheme, 1968, in Paragraph 9. for sub-rule 3(C). the following sub-paragraph shall be substituted, namely-

"(3C) A subscriber shall he allowed premature closure of his account or the account of a minor of whom he is the guardian. on a written application to the Accounts Office, on any of the following grounds namely:-

(i) that the amount is required for the treatment of serious ailments or like threatening diseases of the account holder. spouse or dependent children or parents. on production or supporting documents from competent medical authority,

(ii) that the amount 8 required for higher education of the account holder or the minor account holder. on production of documents and fee bills in confirmation of admission in a recognised institute of higher education in India or abroad:

Provided that such premature closure shall be allowed only after the account has completed five financial years.

Provided further that premature closure under this sub-paragraph shall be subject to deduction of such amount which shall be equivalent to one percent less interest on the interest rates as applicable from time to time in the table payable on the deposits held in the account from the date of opening of the account till the date of such premature closure. calculates in accordance with the sample calculation as shown in the table on next page:

Calculation showing the interest payable to depositor

Year (1)	Opening Balance (2)	Assumed Fresh Deposit (3)	Total Amount (4)	Rate of Interest (5)	1% less on the applicable rate of interest (6)	Interest accrued (7)	Outstanding Balance (8)
2006-07		1000.00	1000.00	8.0	7.0	70.00	1070.00
2007-08	1070.00	500.00	1570.00	8.0	7.0	109.00	1679.90
2008-09	1679.90	500.00	2179.90	8.0	7.7	167.85	2347.75
2009-10	2347.75	700.00	3047.75	8.0	7.0	213.34	3261.09
2010-11	3261.09	600.00	3861.09	8.0	7.0	270.28	4131.37
2011-12	4131.37	1000.00	5131.37	8.6	7.6	389.98	5521.36
2012-13	5521.36	1200.00	6721.36	8.8	7.8	524.27	7245.62
2013-14	7245.62	1500.00	8745.62	8.7	7.7	673.41	9419.03
2014-15	9419.03	1500.00	10919.03	8.7	7.7	840.77	11759.80
2015-16	11759.80	1000.00	12759.80	8.7	7.7	982.50	13742.30
Total		9500.00					13742.30

[F.No. 1/04/2016-NS.II]

Prashant Goyal
Joint secretary

Source: www.finmin.nic.in
[http://finmin.nic.in/the_ministry/dept_eco_affairs/budget/Premature_ppf18162016.pdf]

Staff Selection Commission to hold CGL examination online

Staff Selection Commission to hold CGL examination online

The Staff Selection Commission (SSC) has decided to conduct its flagship Combined Graduate Level Examination (CGLE) online to check malpractices and make the test more transparent.

Besides, the Commission has also changed the pattern of the examination and included descriptive portion (essay writing) in it for the first time.

Hundreds of students are selected through the CGLE every year for various mid-level central government jobs, including as Assistant in Intelligence Bureau and Inspector in Income Tax.

"It has been decided to conduct the CGLE through online mode rather than Optical Mark Recognition (OMR) based. It is a historic decision that will bring in more transparency in the examination process," SSC Chairman Ashim Khurana said.

He said a video walk through on the SSC's website has been put up to help the aspirants understand the new pattern.

About 38 lakh aspirants, who had already applied for CGLE 2016, will have to take the test under the new pattern which will be conducted in the next two months.

"A notice mentioning the changes in pattern of examination has been issued. The new online system will effectively put a check on any incident of leakage of exam paper or tampering with the examination process," Khurana told .

He said the Commission is getting positive feedback from the students across the country on the recently announced changes.

The decision to hold the CGLE online was endorsed by Prime Minister Narendra Modi also, senior officials in Personnel Ministry said.

The SSC is one of the largest recruiting agencies in the country mandated to conduct eight exams. It will fill about 89,000 government posts this year alone from among about two crore applicants.

The Commission's flagship CGLE is for filling vacancies in 30 different services in the central government.

There will be no fresh application for CGLE 2016 and those who have already applied will have to take the exam on computer rather than OMR mode, which was prone to malpractices by tech-savvy syndicates, the officials said.

The computer-based examination will ensure greater confidentiality and faster processing of results, they said.

The SSC has for the first time been authorised to make recruitment for gazetted posts of Indian Audit and Accounts department.

As per the changed pattern, the CGLE will now be conducted in three tiers instead of two.

In phase I, there will be 100 questions as against 200 earlier. The aspirants will get 1.15 hours instead of two. There will be no change in tier II and two papers of 200 marks each would continue. Those who qualify in both tier I and II, will have to take tier III exam of 100 marks which will be descriptive in nature, the officials said.

They said the descriptive portion will help in checking candidates' comprehension and analytical skills. 

Source : The Times of India

Flushing of DNS for getting more faster Internet access.

Get in to CMD and run the command ;
IPCONFIG/FLUSHDNS
then click on Enter, we can find the blocking will be removed .
Try it.

some steps for Finacle Beginners

CBS WORK FLOW FOR SUB OFFICES WITH BO

LOG IN;- When appilate loaded successfully  give your User ID & Password accurately . If it shows “block or don’t block” then clik on don’t block .

Clock on “select”àfincoreàthe menu pad will be shown .

For SB Deposit at SO:-

Invoke “CTM”àgo(f4)à(function) Addà(function type)depositàgo(f4)àgive SB A/C noà give amountà click on “post”à write down the trans ID on the voucher.

Verify;-

Log in as Supervisor , invoke “CTM” ”àgo(f4)à(function) verifyàgive trans IDàgo(f4)àpost

For SB withdraw  at SO;-

Invoke “CTM”àgo(f4)à(function) Addà(function type)withdrawàgo(f4)àgive SB A/C noà give amountà click on “post”à write down the trans ID on the voucher.

Verify;-

Log in as Supervisor , invoke “CTM” ”àgo(f4)à(function) verifyàgive trans IDàgo(f4)àpost

For RD Deposit at SO;-

invoke “CRDP”à(function) Addà(trans type) cash depositàgo(f4)àgive account NOàgive total amountàclick on “submit”(f10)à write down the trans ID on the voucher.

Verify;-

Log in as supervisor , invoke “CRDP”à(function) Postàgive trans IDà go(f4)àsubmit(f10)

SSA deposit at SO;-

Invoke “CTM”àgo(f4)à(function) Addà(function type)depositàgo(f4)àgive SSA A/C noà give amountà click on “post”à write down the trans ID on the voucher.

Verify;-

Log in as Supervisor , invoke “CTM” ”àgo(f4)à(function) verifyàgive trans IDàgo(f4)àpost

SB deposit at BO;-

Log in as PA invoke “CXFER”à(function) Addà(transaction type) Transfer bank inducedàgo(f4)àinter Dr. A/C ID( SOL  ID +0339 Ex.752081010339 for odagaon)àCr.A/C ID (SB A/C No.)àenter amountàPost-> note down the trans ID

Verify;-

Log in as Super invoke “CXFER”à(function)verifyà give trans ID àgo(f4)àpost.

SB withdraw at BO;-

Log in as PA invoke “CXFER”à(function) Addà(transaction type) Transfer bank inducedàgo(f4)àinter Dr. A/C ID(SB A/C No)àCr.A/C ID (SOL  ID +0339 Ex.752081010339 for odagaon.)àenter amountàPostà note down the trans ID

Verify;-

Log in as Super invoke “CXFER”à(function)verifyà give trans ID àgo(f4)àpost.

RD Deposit at BO;-

Log in as PA  invoke “CRDP”à(function)Addà(trans type) Transfer to bank inducedàgo(f4)àgive RD A/C Noàgive total amountàclik on mode payment as Transferàgive total amount including defaultàgive account ID (SOL ID+0339   for Ex.752081010339 for odagaon)àsubmit(f10)

Verify;-

Log in as Super  , Invoke “CRDP”à(function)Postàgive trans IDà Submit(f10)

SSA deposit BO;-

Log in as PA invoke “CXFER”à(function) Addà(transaction type) Transfer bank inducedàgo(f4)àinter Dr. A/C ID( SOL  ID +0339 Ex.752081010339 for odagaon)àCr.A/C ID (SSA   A/C No.)àenter amountàPost-> note down the trans ID

Verify;-

Log in as Super invoke “CXFER”à(function)verifyà give trans ID àgo(f4)àpost.

RD close at SO;-

Log in as PA , invoke “CRDCAAC”à(function) close “Z”à inter A/C IDàgo(f4)à enter closure reason ‘NORML’ if  closure is normalàselect repayment mode as cash/transferàenter repayment A/C IDà clik on submit (f10)à note down the trans ID.

Verify;-

 Log in as Super , invoke “CRDCAACV”à(function) verify ‘V’à give trans ID àclick on submit (f10)

Invoke  “HCASHPND” menu for cash transaction àgive transaction IDàverify trans ID in “HTM” menu.

VAULT TRANSECTION;-

Taller ID= Treasurer A/c  SOL ID+0501

Vault ID= PA A/c                 SOL ID+0406

First of all PA has to take advance from Taller ID ;-(Treasurer to PA cash transfer)

Log in as PA invoke “HTM”àAdd à cash transfer àDr.A/C ID (Taller ID , i.e SOL ID+0501)à enter amount àAdd àCr.A/C ID (Vault  A/C ,i.e SOL ID+0406)àenter amount given previously àpost ànote trans ID generate ..

Verify;-

Log in as Super  invoke “HTM”àfunction verify(V)àenter trans ID àpost

PA to treasurer cash transfer ;-

Log in as PA invoke “HTM”àAdd à cash transfer àDr.A/C ID (Vault ID , i.e SOL ID+0406)à enter amount àAdd àCr.A/C ID (Taller A/C ,i.e SOL ID+0501)àenter amount given previously àpost ànote trans ID generate ..

Verify;-

Log in as Super  invoke “HTM”àfunction verify(V)àenter trans ID àpost

How to see cash position of taller ;-

Log in as PA , invoke “HTCPIAE”àenter taller ID àsubmit    you can see taller cash position.

Report menu;-

Log in as PA , invoke “HFINRPT”àgive SOL IDàgoàselect the pages you want and clik on Submit. àOK now Invoke “HPR” and select the file to be printed àprint screenàprint

EOD Procedure ;-

Log in as Super , Invoke “HTCPIAE” see the taller cash position à invoke “HFTI” see all part of entered,posted and verified transections àinvoke “HISCOD” give time in hour and minutes àinvoke “HPR” see the EOD statusàInvoke “HSSI”

Next will be updated soon...