| Schemes – RURAL POSTAL INSURANCE Whole Life (GRAMA SURAKSHA) Endow Assurance (GRAMA SANTOSH) Convertible Whole Life (GRAM SUVIDHA) Anticipated Endowment (GRAM SUMANGAL) 10 Year Rural PLI (GRAM PRIYA) Children Policy | |
| LIMIT Minimum- Rs.10,000 Maximum- Rs.25,000 (without medical) Rs.3,00,000 (on medical) Rs.1 lac (Age 45 & above/NS age proof) Minimum- 19 on next DOB Maximum | |
| AGE LIMIT WL and EA 55 CWL and 10 yr Plan 45 AEA 40 Above 35 years only medical policies | |
| Low Premium with following rate of rebate Monthly Re.01/ per 20,000 Quarterly Rs.03/ -------do---- Half yearly Rs.06/--------do---- Yearly Rs.12/-------do----- | |
| Bonus Endowment 55 per 1000 S/A W/L 60 per 1000 S/A AEA 50 per 1000 S/A | |
| Rebate for advance payment of monthly premium - 12 months 2.0% - 06 months 1.0% - 03 months 0.5% | |
| Advance deposit adjusted as 1st premium Subsequent installments to be paid on due date within in grace period as detailed in the table | |
| Period of payment of Premium | Grace Period |
| Monthly | One calendar month |
| Quarterly | 45 days |
| Half Yearly | 60 days |
| If not paid within due period DF at 12% collected | |
| Calculation of DF for arrears of monthly premiums – as in the case of PLI For quarterly, Half Yearly and Yearly premiums calculated with the help of the following formula | |
| Interest = Premium X Months x Rate of Int --------------------------------------- 100 X 12 TO CALCULATE PREMIUM PLEASE CLICK | |
SO FAR VISITED
Monday, January 31, 2011
RURAL POSTAL INSURANCE
Saturday, January 29, 2011
INDIA POST INVITES SUGGESTIONS FROM THE MEMBERS OF PUBLIC
| Department of Posts (DOP) a more than 150 years old organization, provides services through its network of 1,50,000 offices, a majority of them being in rural areas. India Post connects all of Urbanization, increased demand for financial services, increased funding by the government for the weaker sections in the rural sector have opened up new opportunities for the Department of Posts which has necessitated development of new processes and supporting technology. The DOP is also faced with the challenge of keeping pace with the advances in communication technology. In order to provide the best-in-class customer service, deliver new services and improve operational efficiencies, the DOP is undertaking an end to end IT modernization project to equip itself with the requisite modern tools an technologies. Some of the salient features that are expected to be in place in the next two years are:- 1. All the post offices to be fully networked and ICT enabled. 2. Centralized Banking Services for Urban and unbanked rural population ____________________________________________________ 3. End to end tracking of accountable articles. 4. 24 x 7 call centres. 5. Multiple channel of access to customers e.g., post office counters, kiosks, internet, ATMs etc. |
| The Department of Posts thus envisions to connect people, organizations and government using physical and electronic networks with the following objectives:- 1 Modernization of postal services. 2 Improving the reach of postal services. 3 Improving the quality of services and develop, implement and operate a system of standards with accountable performance. |
| . 4. We are in the process of developing a Strategic Plan for the Department which will set the roadmap for achieving the above objectives. As important stakeholders in this journey, India Post, requests its customers to share their views on how India Post can achieve its objectives. Feedback on the following is requested by 04/02/2001. 1 What kind of post office would meet your expectation – the infrastructure in the post office, facilities and services? 2 How to make postal service customer friendly? 3 How can the existing products and services be made more attractive? 4 What new services and facilities can India Post provide to meet the new and emerging needs of customers? |
Friday, January 28, 2011
latest Recruitment Rules for the post of Multi Tasking Staff,Postman and Mail Guard.
| Vacancies in Circle and Administrative Offices: i.(a) 25% by appointment of Casual Labourers conferred with temporary status on the basis of Selection-cum-seniority failing which by, (b) Appointment of existing Casual labourers engaged on or before 1.9.1993 working, for full hours viz. 8 hours, on the basis of selection-bum-seniority failing which by, (c) Appointment of existing part-time Casual Labourers, engaged on or before 1.9.1993, on the basis of selection-cum-seniority failing which by, (d) Direct recruitment as per the scheme circuited by the Department of Posts form time to time. ii. 75% by direct recruitment as per the scheme circulated by the Department of Posts from time to time. |
| Vacancies in Subordinate Offices: i) 50% by direct recruitment from amongst Gramin Dak Sevaks of the recruiting Division or Unit, on the basis of Selection-cum seniority. ii) (a) 25% by direct recruitment of the basis of Competitive Examination restricted to the Gramin Dak Sevaks of the Division or Unit failing which by, (b) Direct recruitment from amongst Gramin Dek Sevks of the recruiting Division or Unit, on the basis of Selection-cum-seniority. iii) (a) 25% by appointment of Casual Laborers conferred with temporary status on the basis of Selection-cum-seniority failing which by. (b) Appointment of Casual Laborers conferred with temporary status in the neighboring Division or unit on the basis of selection-cum-seniority failing which by, (c) Appointment of Casual Laborers conferred with temporary status in the neighboring Division or unit on the basis of selection-cum-seniority failing which by, (d) Appointment of Laborers engaged on or before 1.9.1993, working for full hours viz 8 hours, of the neighboring Division our unit on the basis of selection-cum-seniority failing which by, (e) Appointment of part-time Casual Labourers engaged on or before 1.9.1993, of the recruiting Division or Unit on the basis of selection-cum-Seniority failing which by. (f) Direct recruitment from amongst Gramin Dak Sevaks on the basis of their seniority in the Division our unit. |
| Failing (i), (ii) and (iii) above by direct recruitment from open market. 2. In order to initiate action to fill up the vacancies of the years 2009 and 2010 the Circles may work out the vacancies falling under various modes of filling up as provided in the Recruitment Rules. Wherever applicable the vacancies may be assessed Division/Unit wise. The direct recruitment vacancies of the erstwhile Group 'D' not cleared under Annual direct Recruitment Plans of the years 2005, 2006, 2007 and 2008 should not be taken in to consideration while assessing the vacancies. 3. The vacancies so assessed may please be furnished to the Directorate by 10th February, 2011 positively in the enclosed proforma. 4. Once the Circles complete the process of identification of vacancies to be filled up by various modes they may proceed further to fill up the following vacancies: (a) Vacancies in Circle and Administrative Offices: 25% of vacancies to be filled up by appointment of Casual labourers. (b) Vacancies in Subordinate Offices: i) 50% of vacancies to be filled up by direct recruitment from amongst Gramin Dak Sevaks of the recruiting Division or Unit, on the basis of Selecting-cum-seniority. ii) 25% of vacancies to be filled up by appointment of Casual Laborers. 5. The Circles are requested to process the above said appointments in such time-frame so that the appointment orders are issued by 29th March, 2011. 6. As regard the vacancies to be filled up by Departmental examination and direct recruitment the Directorate is in the process of finalizing the syllabus and scheme for examination. The same will be conveyed to the Circles shortly to enable them to fill up those posts also. |
| Action to be taken to fill up the vacancies on the basis of latest Recruitment Rules for the post of Postman and Mail Guard. |
| Postman: a) 25% by promotion by selection-cum-seniority of Multi Tasking Staff. b) 25% on the basis of Limited Departmental Competitive Examination by promotion from amongst Multi Tasking Staff failing which by drect recruitment. c) 25% by direct recruitment on the basis of competitive Examination limited to Gramin Dak Sevaks failing which by direct recruitment of Gramin dak Sevaks (without any examination on the basis of their seniority subject to their meeting the prescribed requirements) d) 25% by direct recruitment from open market. |
| Mail Guard a) 25% by promotion by selection-cum-seniority of Multi Tasking Staff of the recruiting Division. b) 25% on the basis of Limited Departmental Competitive Examination by promotion from amongst Multi Tasking Staff of the recruiting Division, failing which by direct recruitment. c) 25% by direct recruitment on the basis of Competitive Examination limited to Gramin Dak Sevaks failing which by direct recruitment of Gramin Dak Sevaks (without any examination on the basis of their seniority subject to their meeting the prescribed requirements). d) 25% by direct recruitment from open market with matriculation as minimum qualification |
| The number of vacancies of the years 2005, 2006, 2007 and 2008 cleared under ADRP and all the vacancies of the years 2009 & 2010 if any, not yet filled up by any Circle may be communicated to the Directorate along with there as on for the same and the date by which those vacancies would be filled up. The information in this regard may be furnished latest by 7th February, 2011. |
| . In order to initiate action to fill up the vacancies of the years 2011 the Circles may work out the firm anticipated vacancies which would fall under various modes of filling up as provided in the Recruitment Rules. Wherever applicable the vacancies may be assessed Division/Unit wise. The direct recruitment vacancies not cleared under Annual direct Recruitment Plans of the years 2005, 2006, 2007 and 2008 should not be taken in to consideration while assessing the vacancies. |
Monday, January 24, 2011
Philately
Philately is the study of stamps and postal history and other related items. Philately involves more than just stamp collecting, which does not necessarily involve the study of stamps. It is possible to be a philatelist without owning any stamps. For instance, the stamps being studied may be very rare, or exist only in museums.
eVPP services on 27.01.11.
e-VPP is a cash on delivery type of system in which a sum of money specified in writing by the sender at the time of posting of a postal article is recovered on delivery thereof from the addressee. The sum so recovered for all such articles from addressee will be consolidated electronically and paid to the sender using e Payment.
2. (i) This service is different from the existing VPP service. Sender of e VPP postal articles will get payment of the money collected from the addressee’s of articles from office of posting based on the information consolidated electronically instead of through individual VP money order for each article. There will be no need for presentation of VPMO form duly filled in at the time of booking of article. The periodicity of the payment can be mutually agreed upon by sender and postmaster of office of posting.
(ii) Service will be available for bulk customers only who send VP article in a large number regularly. Providing a definition of bulk sender is not intended. A bench mark of three hundred articles in a month time may be considered for availing this service. This may be relaxed by Divisional Superintendent for the customer who regularly sends articles in a month.
3.(i) This service will be available in e Payment offices only i.e. article will be accepted for booking at e Payment offices, and are identified as e-VPP booking offices e-VPP articles will be deliverable at all Post Offices.
(ii) Public business hours may be fixed by CPMG/RPMG with regard to local convenience and arrival and departure timings of mails.
4. The sender of postal articles under this service will be registered at the divisional level and the procedure for creation of e-biller ID of customer will be as in case of creation of National biller for e Payment. National biller id will be the customer reference number. This service is available for inland postal articles only. The clientele will be All India level for all e-VPP senders by default.
5. Registered parcels, insured parcel, registered letters, insured letters registered book packets, registered book packets containing printed books, registered book packet containing periodicals, Newspapers prepaid with postage at newspaper rates of postage and with registration fee, Express Parcels and insured express parcels may be transmitted by the Inland Post as e Value Payable postal articles provided that the amount specified for remittance to the sender shall not exceed Rs. 5000/-(five thousand)only for one article and shall not include a fraction of a rupee and provided that such articles do not contain coupons, tickets, certificates or introductions designed for the sale of goods on what is known as the snowball system.
6. Sender of the e- VPP article shall be required to pay an e-VPP fee at the time of booking of article in addition to postage, registration, insurance fee, where levy able This will not be refundable in case of article not delivered to the sender due to any reason. E-VPP fee will be Rs.15/-per article irrespective of value and class of e-VPP article.
Friday, January 21, 2011
Proposal to exempt Salaried Class from filing Tax return
| The Chairman of Central Board of Direct Taxes (CBDT) which manages Income tax department in If this proposal is considered in favour of Salaried Class, all employees including Central Government Employees need not file any income tax return that has to be filed every year in the form of ITR-1 or ITR-2. It is estimated that out of 35 Million Tax Payers in the country approximately half of them are salaried employees. This change would also reduce the work burden of Income tax department. The logic behind this proposal to exempt Salaried employees from filing tax return is obviously the income details of salaried class is available with the employer as well as banks through which they receive their salary. Source: Business Standard |
Useful tips on Mobile Phone
| Would you like to know if your mobile is original or not ? |
| Press the following on your mobile *#06# and the-international mobile equipment identity number appears. Then check the 7th and 8th numbers |
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 |
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| IF the Seventh & Eighth digits are 08 or 80 this means your cell phone was manufactured in |
| IF the Seventh & Eighth digits are 01 or 10 this means your cell phone was manufactured in |
| IF the Seventh & Eighth digits are 00 this means your cell phone was manufactured in original factory which is the best Mobile Quality |
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| THINGS YOU NEVER KNEW YOUR CELL PHONE COULD DO |
| (1 ) EMERGENCY |
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| (3) How to disable a STOLEN mobile phone? |
India Post seeks actuarial consultant to weigh funds
India Post is set to appoint an actuarial consultant to value its various insurance funds, a move which forms precursor to bring its insurance business under control of sectoral regulator, insurance regulatory and development authority (IRDA).
The postal department has called for proposals from qualified actuaries to value its insurance scheme funds such as, post office life insurance fund (POLIF) and rural post office life insurance fund (RPOIF). The POIF had around 40 lakh policies while RPOIF had around 135 lakh policies at the end of March 2010.
The department, which runs its postal life insurance (PLI) and rural postal life insurance (RPLI) schemes as an agency function of the finance ministry, earlier sought to set up a corporate entity to handle insurance schemes to give it autonomy in functioning. IRDA regulations mandate every life and non-life insurer to appoint an actuary with life insurance businesses mandated to have a permanent official for the post.
According to the letter of invitation (LoI) issued by the department, the actuary will analyze various aspects of the funds including their expenses and premium income to certify the solvency of the funds. The consulting actuary will initially be appointed for a period of two years, which can be extended later by one more year.
Actuarial valuation are used to assess risk in the insurance and finance industries. For traditional life insurance, actuarial science focuses on analysis of mortality, production of life tables and application of compound interest to produce life insurance, annuities and endowment policies.
The department of posts have been lagging behind despite having a formidable distribution base of over 1.55 lakh post offices. The department has proposed to create a corporate entity to handle the schemes, a move that will liberate it to introduce innovative products that can compete with private players effectively.
The opinion of law ministry was also sought if IRDA could take control over the department’s insurance business. As per provision of the LIC Act, PLI is a ‘scheme run by central government’ . Hence it is neither a company nor a body corporate , but is part of a department of the central government. On the contrary , Insurance Act defines an ‘insurer’ as any individual or un-incorporated body of individuals or body corporate incorporated under law.
Even as the debate on regulatory control of postal life insurance goes on, the department has requested for greater autonomy to its insurance schemes as it looks to expand its financial services business. “Corporatization of the life insurance business will enable the postal department to compete with private insurance players on a level playing field,” said an official in the department, who asked not to be named.
Wednesday, January 19, 2011
Saturday, January 15, 2011
Why should you invest in Post Office Schemes - Check the variety
| scheme | Interest Rates | Tenure | Investment Denominations and limits | Salient Features | Tax rebate |
| Post Office Savings Account | 3.5% p.a. On individual and joint account | No specific or fix tenure | Min: Rs. 50 Max: Rs. 1 lakh for individual and 2 lakhs for joint account | Cheque facility available | Interest is tax-free u/s 80L |
| 5-Year Post Office Recurring Deposit Account | 7.5% compounded quarterly | 5 years. Can be renewed for another 5 years | Min: Rs. 10 per month or multiples of Rs. 5 Max: No limit | One withdrawal up to 50% of the balance is allowed after one year. Full maturity value allowed on R.D. 6 & 12 months advance deposits earn rebate. | No tax rebate |
| Post Office Time Deposit Account | 6.25%- 1 year 6.50 - 2 years | | Min: Rs. 200 and its multiple thereof Max: No limit | Long-term accounts could be closed after 1 year for discounted interest. Accounts could be closed after 6 months but before a year for no interest. Interest is calculated quarterly but payable yearly. | Investment qualifies fordeduction u/s 80C. Interest is tax-free u/s 80L |
| | 7.25% | 3 years | | | |
| | 7.50% | 5 years | | | |
| Post OfficeMonthly IncomeAccount | 8% p.a. | 6 years | Min: Rs. 1500 per month or multiples of it.Max: Rs. 4.5 lakhs for individual account and Rs. 9 lakhs for joint account | Account if closed after 1 year but before 3 years will suffer a deduction of 2% of the deposit. Account if closed after 3 years will suffer a deduction of 1% of the deposit. On maturity, bonus of 5% on principal amount is admissible | Interest is tax-free u/s 80L |
| 15-year Public Provident Fund Account | 8% p.a. compounded yearly | 15 years tenure | Min: Rs. 500 in 1 year Max: Rs. 70000 in 1 year Deposits can be made in lump-sum or 12 installments | Withdrawal can be made every year after the 7th financial year. From the 3rd financial year, loan can be availed against PPF. No attachment under court decree order. | Investment qualifies fordeduction u/s 80C. Interest is tax-free u/s 80L |
| Kisan Vikas Patra | 8.4% compounded yearly. Money doubles in 8 years and 7 months | --- | No limits. Investment denominations available are of Rs. 100, Rs. 500, Rs. 1000, Rs. 5000, Rs. 10,000, in all Post Offices and Rs. 50,000 in all Head Post Offices. | A single holder certificate can be purchased by an adult. A certificate can also be purchased jointly by two adults. | No tax benefits |
| National SavingsCertificate (VIII issue) | 8% p.a. compounded half-yearly but payable after maturity | 6 years | Min: Rs. 100. Also available in denominations of Rs. 100/-, 500/-, 1000/-, 5000 & Rs. 10,000/-. Max: no limit | A single holder certificate can be purchased by an adult. | Investment as well as the interest deemed to be re-invested qualifies for deduction u/s 80C. |
| Senior Citizens� Savings Scheme | 9% p.a. | 5 years | Only 1 deposit allowed in multiple of Rs. 1000. Max is Rs. 15 lakhs | Age should be above 60 years or 55 years above if retired under superannuation. Account if closed after 1 year will suffer a deduction of 1.5% interest and after 2 years will suffer a deduction of 1% interest. TDS is made on interest if it exceeds Rs. 10000 p.a. | Investment qualifies fordeduction u/s 80C. |
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