Saturday, February 26, 2011

Launch of PLI website

6:53 AM SA

India Post has come up again with a new website for PLI/RPLI Insurance Information for publics. It is a very useful website. Log on to website: http://www.postallifeinsurance.gov.in/




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Thursday, February 24, 2011

New Pension Scheme- Features

8:35 AM SA

NPS Features:
Pension fund regulatory and Development Authority (PFRDA) has been established by the Government of India, Ministry of Finance vide notification F.NO. 5/7/2003-ecb & PR dated 10th October 2003 to promote old age income security. The government authorized PFRDA vide Ministry of finance, Department of Financial services letter No. 11(11)/2008-pr dated 29th July 2008 to extend NPS on a voluntary basis to all citizens of India Including workers of unorganized sector.NPS is now available to all citizens of India with effect from May 1, 2009, other than Government employees already covered under NPS.

Two Types of Accounts
1. Tire I Account.
2. Tire II Account.
Details of Tire I Account

Who can Join ?
A citizen of India , whether resident of Non Resident of India, subject to the following conditions.
Should be between age of 18 and 55.
Should comply with the Know Your Customer (KYC) norms as detailed in the subscriber registration form.Who cannot Join
Individuals who are not granted an 'order of discharge' by a court.
Individuals of unsound mind.
Pre-existing account holders of NPS.How to enroll in NPS?
To enroll in NPS , you need to submit the Registration Form to Post office or any other POP-SP. The list of POP-SPs is available in the website: http://www.pfrda.org.in.
NRIs should have an account with the bank based in India to open an account under NPS.
After the account is opened, CRA shall mail a "Welcome Kit" containing the subscriber's unique Permanent Retirement Account Number (PRAN) and the complete information provided by the subscriber. A telephone password(TPIN) which can be used to access the account on the call centre number (1-800-22220808). An IPIN(Internet Password) will also be given for accessing on the site www.npscra.nsdl.co.in.Contribution Amount
Minimum Amount per contribution: 500.
Minimum Contribution Amount per year: 6000.
Minimum Number of contributions per year: 4.
The subscriber can contribute the amount through cash, local cheque or demand draft.What are the benefits of Joining New Pension Scheme ?
a) It is voluntary-NPS is open to every Indian citizen. You can choose the amount you want to set aside and save every year.
b) It is simple. All you have to do is to open an account with any POP and get a PRAN.
c) It is flexible. You can chose your own investment option and pension fund and see your money grow.
d) It is portable. You can operate your account from anywhere in the country.
e) It is regulated. NPS is regulated by PFRDA, with transparent investment norms and regular monitoring and perfomance review of fund mangers by NPS trust.

On attaining Normal Retirement age (NRA) of 60 years you will be required to compulsorily annuitze at least 40% of your wealth and the remaining 60% can be withdrawn as a lump sum sum or in a phased manner. 
Minimum 10% of the pension wealth should be withdrawn every year.
Any amount lying to the credit at the age of 70 should be compulsorily withdrawn in lump sum.
If withdraw any time before 60 years of age: in such case, you will have to compulsorily annuitze 80% of your accumulated pension wealth. The remaining 20% can be withdrawn as a lump sum.
Courtesy: www.imyideas.com


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Postal Examination Calender for the Year 2011

8:23 AM SA

Government of India
Ministry of Communications & IT
Departments of Posts (DE Section)

Dak Bhawan, Sansad Marg ,
New Delhi – 110116
Dated 29.12.2010
No. A – 34012/02/2010-DE 
To,
All Head of Circles,
The Additionsl Director General, APS, New Delhi

Sub: - Calendar of Departmental Examinations scheduled to be held in
the year 2011.

Sir/Madam,
I am directed to say that the competent authority has approved the following schedule of Departmental Examination to be held in the year 2011: -

Name of Examination Exam schedule to be held on To be conducted by

1. LGOs for PAs/SAs cadres & PAs cadre in Cos/ROs February 2011 Directorate
2. Postal Assistants/Sorting Assistants Direct Recruitment May 2011
3. Inspector of Posts Exam 2010 June 2011
4. A. E. (C & E) Exam July 2011
5. J. E. (C & E) Exam
6. PS Group ‘B’ Examination, 2010
7. Postmaster Grade – I April 2011
8. LDCs to Junior Accountants in PAOs August 2011 Circle Offices
9. Confirmation Exam for Dr. Jr. Accountants in PAO August 2011 
 
2. It is intimated that the above schedule is tentative and examination will be held subject to availability of vacancies and as per the administrative convenience. Necessary action may please be initiated to complete to pre-examination formalities to ensure smooth conduct of examinations.

Yours faithfully,
Sd/-
(L. Mohan Rao)
Assistant Director General (DE)


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Wednesday, February 23, 2011

Web Links- Utility to View

10:13 PM SA

It is cumbersome to remember all the website address and login everytime. Here, is a weblink small utility developed by Shivaram SA Puttur.

                                                                                                         Download


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Accounts Pay Bill Drawal Error For the Month of Feb 2011

7:36 PM SA

If while drawing paybill for this month error occurs like Invalid Object Name R2010_2011
Download the below exl file and execute it
Download


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Launch of ePOST OFFICE

9:04 AM SA

A useful link newly introduced by India Post on ePOST OFFICES to all citizens of India. One Can get all the Informations on services on your Desktop. In order to view fully, one need to have flash software.


Log into the website and publish to everyone: http://www.epostoffice.gov.in/


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Meghdooth Enhancement Updater

8:10 AM SA

After executing the needed script files of Meghdoot enhancement,the updates of ePayment Client, Postman, Subaccounts, Treasurer and Accounts MIS can be copied to the respective folders through updater. EMODelivery.dll and EVPDelivery.dll files will be registered. Copy this to CD or Pen Drive and feel the ease of future installations

The Tool developed by 'srputtur' is another useful tool.

Courtesy; Shivaram SA Puttur.

                                                                                    Download from: Meghdooth Enhancement Updater


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Sanchaya Post Updater

7:59 AM SA

Sanchaya Post Updater Tool developed by Shivaram SA, Puttur popularly and lovably  known as "srputtur" is very useful tool to update Sanchaya Post R2 patches.

For more details and running of updater please visit the following site: http://www.doputtur.blogspot.com/

Download Tool: Srupdater

Courtesy: Shivaram SA Puttur.


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Sunday, February 20, 2011

SO RD Data Transfer Tool

11:13 PM SA

Updated SO RD Data Transfer tool By Anand. It works efficiently than before. Here is an option to reconcile the balances counterwise, BO wise, or altogher.

Courtesy by: Anand, SA Kunigal.

Download from here: SORD TOOL


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Point of Sale Ver 6.8.0. 4. as on 18.02.2011

5:55 AM SA

PointOfSale version 6.8.0.4

The following problems reported by some offices after the release of Meghdoot enhancements are rectified.

1.Error while generating Duplicate receipt for speed post articles.

2."Invalid procedure call or argument" error while doing speed post transactions.

3.Time out error while doing shif end.

4.Error in Premium product report.

Upgradation procedure

Meghdoot enhancement is a prerequisite for using the PointOfSale version 6.8.0.4

1.Download the PointOfSale.exe

2.Rename the existing PointOfSale exe and copy the downloaded exe to the application installation folder.

Those who are already using 6.8.0.4 need not use this exe again.

The recommended practice of selecting a destination office while doing speed post transaction is

1.Select the speed post city

2.Then all the linked offices connected to that spc will be available in the POName dropdown box.

3.Using the down arrow key either you can select from the available offices

Or

You can type first few characters of the officename in the POName drop down box and then press F8 to get the list of offices with pincode.

Then press enter key..the pincode will automatically appear in the pincode text box.

Download from here: ftp://ftp.ptcinfo.org/Meghdootv6.6/MeghdootEnhancements/Updates/PointofSale/POS_6.8.0.4/


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Friday, February 18, 2011

Rural Postal Life Insurance Schemes

7:32 AM SA

GRAM SANTOSH ( ENDOWMENT ASSURANCE )
An Endowment Assurance Scheme
Under this scheme the proponent is given an assurance to the extent of the Sum Assured and accrued bonus till he/she attains the pre-determined age of maturity.
In case of unexpected death of the insurant, the assignee, nominee or the legal heir is paid the full Sum Assured together with the accrued bonus.
* Minimum Age at entry is 19 years.
* Maximum Age at entry is 55 years and for policies with sum assured beyond Rs.1 lakh      maximum age at entry is  45 years
* Premium ceasing at the age of 35, 40, 45, 50, 55, 58 & 60
     ( Payment of premia for at least 5 years )
* Maximum Sum Assured of Rs.2 lac
* Insurance Cover starts from the date of acceptance
* Eligible for loan after payment of premia for 36 months.
* Interest Rate @ 10% on loan
* Surrender allowed after payment of premia for 36 months
* Assignment facility available
* Can be converted into Suraksha (Whole Life Assurance )
* No medical examination required if age is 35 years or less and Sum Assured
      is not more   than Rs.25000/.
* Nomination facility is available
GRAM SURAKSHA (WHOLE LIFE ASSURANCE )
It is a Whole Life Assurance Scheme.
Under this scheme, the proponent is given an assurance to the extent of sum assured and accrued bonus which is paid to the assignee, nominee or legal heir after the death of the insurant.
  • Insurance cover starts from the date of acceptance
  • Minimum Age at entry is 19 years
  • Maximum Age at entry is 55  years and for policies with sum assured beyond Rs.1 lakh maximum age at entry is 45 years
  • Premium ceasing at the age of 55, 58 & 60
  • Maximum sum assured is Rs. 2 lac 
  • Eligible for loan after payment of premia for 48 months.
  • Interest rate @ 10% on loan
  • Surrender of policy allowed after payment of premia for 36 months
  • Assignment facility available
  • Can be converted into Gram Santosh (Endowment Assurance)
  • Nomination facility available
GRAM SUVIDHA ( CONVERTIBLE WHOLE LIFE ASSURANCE )
A Convertible Whole Life Assurance Scheme.
  • Insurance cover starts from the date of acceptance
  • Minimum age at entry is 19 years
  • Maximum age at entry is 55 years
  • Premia ceasing at the age of  55, 58 & 60
  • (Payment of premia for at least 5 years )
  • Maximum sum assured Rs. 1 lac
  • Eligible for loan after payment of premia for 48 months
  • Interest on loan @ 10 %
  • Surrender of Policy allowed after payment of premia for 36 months
  • Assignment facility available
  • Can be converted into Gram Santosh
    (Endowment Assurance after 5 years with premia ceasing at the age applicable to that Scheme )
  • Nomination facility available.
GRAM SUMANGAL ( ANTICIPATED ENDOWMENT ASSURANCE )
An Anticipated Endowment Assurance Scheme which is also known as Money Back Policy
  • Insurance cover starts from the date of acceptance of the proposal.
  • Survival benefit is paid to the insurant periodically
(Such payments will not be taken into consideration in the event of unexpected death of the insurant and full sum assured with accrued bonus is payable to the nominee).
  • Two type of policies i.e. 15 years term and 20 years term.
  • Minimum age at entry is 19 years and maximum age at entry is 40 years
  • Maximum sum assured is Rs.1 lac.
  • No loan facility
  • No surrender value is payable
  • Nomination facility is available.
  • Assignment facility is available.
  • Survival benefit is payable as under:
                            15 years       20 years
  • at the end of 6 years          8 years 20% of Sum Assured
  • at the end of 9 years         12 years 20% of Sum Assured
  • at the end of 12 years       16 years 20% of Sum Assured
  • at the end of 15 years       20 years 40% of Sum Assured              With bonus
GRAM PRIYA ( 10 YEARS RPLI )
It is Anticipated Endowment Scheme for Ten Years
- Insurance cover start from the date of acceptance
  • Proponent is given an assurance to the extent of Sum Assured with accrued bonus payable till completion of ten years.
  • Minimum Age at entry is 19 year
  • Maximum Age at entry is 45 year
  • No interest charged upto one year arrear of premia in case of natural calamities like flood, drought, earthquake, cyclone etc.
  • Survival benefit is payable as under:
·  At the end of 4 years - 20%
·  At the end of 7 years - 20%
·  At the end of 10 years - 60% with accrued bonus
  • Nomination facility is available
  • No surrender value is payable
  • Assignment facility is available
  • No loan is admissible.
CHILDREN POLICY
CHILDREN POLICY-SALIENT FEATURES
   A Policy holder of WLA or EA in PLI/RPLI shall be eligible for taking such Policy for his/her child(ren) against      his/her policy.
   Minimum Age-5 Years.
   Maximum Age- 20 Years   (The age of main policy holders should be below 45 years.)
   Sum Assured limit Minimum- Rs. 20,000/- Maximum- Rs. 1,00,000/-. However, the Sum Assured of      Children policy should not exceed the Sum Assured of the main policy.
   Insurance Cover starts from Date of acceptance of the proposal or payment of the Ist premia in full, which      ever is later.
   A non-medical policy with full benefits.
   Assignment/Nomination facility available, as per POIF Rules.
   No loan facility against this policy, but can be made paid up in usual conditions to main policy provided      atleast 5 Years premia have been paid.
   Sum Assured alongwith accrued bonus shall be payable on maturity or earliesr on death of the Child(ren).
   In even of death of main policy holder before the expiry of the Children Policy- no further premia shall be      payable for the remaining term of the policy.
CHILDREN POLICY PREMIA FOR SUM ASSURED OF Rs. 1000/-


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Thursday, February 17, 2011

Postal Life Insurance Benefits

7:55 AM SA

INTRODUCTION
Postal Life Insurance was started in 1884 as a welfare measure for the employees of Posts & Telegraphs Department under Government of India. Due to popularity of its schemes, various departments of Central and State Governments were extended its benefits. Now Postal Life Insurance is open for employees of all Central and State Government Departments, Nationalized Banks, Public Sector Undertakings, Financial Institutions, Local Bodies like Municipalities and Zila Parisads, Educational Institutions aided by the Government etc.

WHY CHOOSE PLI ?
“ High Bonus Low Premium ”
PLI offers bonus rates higher than all types of policies as compared to that of other insurance agencies.

 SALIENT FEATURES
Salient Features of Postal Life Insurance:
Pass book Facility:
Premium can be remitted in any departmental Post Offices in India.
Recovery of premium from Pay:-Facility of recovery of premium from salary is available to some selected Departments.

Loan Facility:
Loan can be obtained at the interest charge of 10% p .a Loan can be obtained from other financial institutions like nationalised bank, HDFC etc on the security of Policies.

Assurance upto 10 Lakhs:
PLI offers policies up to a maximum Sum Assured of Rs.10 lakh for Whole life and Endowment Assurance Policies.

Income Tax Savings:
PLI Premium paid is eligible for Income Tax Savings under section 80C of Income Tax Act.

Non Medical Scheme.
Scheme of Non Medical policies of Endowment Assurance available up to One Lakh Sum Assured ,subject to conditions.

BENEFITS
Benefits of Postal Life Insurance.
1.     100% security by Government of India
2.     Income Tax Rebate under Sec. 88.
3.     Low Premium.
4.     High Bonus.
5.     Options for Loan, Assignment, Surrender, Conversion and Paid Up Value.
6.     Repayment of Loan is optional.  However interest is payable every 6 months.
7.     Easy transfer to any place in India free of cost.
8.     Pass book facility for payment of premia & other payments like loan, interest through any Departmental Post Office.
9.     Pay recovery facility for Institutions and Organizations having more than 20 policies.
10.  Facility for payment of premia monthly, half yearly and annually on any working day of the month for which it is due.
11.  Rebate @ 1% for payment of 6 months premia in advance.
12.  Rebate @ 2% for payment of 12 months premia in advance.
13.  Nomination facility.
14.  Facility for revival of policies lapsed due to non-payment of premium.
15.  Payment of policy money through any Post Office, anywhere in India.
16.  Centralized accounting for quick and easy settlement of claims through fully computerized office management.

Author: Najiya M Ali
Postal Assistant, Department of Posts. Source: http://www.imyideas.com/



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Wednesday, February 16, 2011

SB ORDER NO 01/2011

5:00 AM SA

SB ORDER NO. 01/2011
No.32-1/2011-SB
Government of India
Ministry of Communications & IT
Department of Posts
Dak Bhawan, Sansad Marg,
New Delhi-110001, Dated:       08.02.2011
To
Subject:-
All Heads of Circles/Regions
Addl. Director General, APS, New Delhi.

Use  of  prescribed  Account  Opening  Form  (Form'A')  while  opening  PPF
accounts to avoid irregular opening of Joint accounts in PPF.
Sir / Madam,

The  undersigned  is  directed  to  say  that  this  office  is  receiving  large  number  of  cases
from  circles/regions  for  regularization  of  irregularly  opened  Joint  PPF  accounts  by  converting
into single accounts. As Department has no power to relax any statutory rule, all such cases are
being referred to Min. of Finance (DEA) for regularization.

2.          Min. of Finance (DEA) while examining such cases has observed that Post Offices are
using SB-3 for opening of PPF accounts which is meant for opening of SB/RD/TD/MIS accounts
and this is resulting in opening of Joint PPF accounts as the form has provision for opening of
joint  accounts.  Ministry  has  pointed  out  that  PPF  Scheme  provides  for  'FORM-A'  as  account
opening form and if this form is used for opening of PPF account, there are less chances that a
Joint PPF account could be opened.

3.          It is therefore requested to ensure that all post offices operating PPF scheme should use
Form-A   for  opening  of  PPF  account  and  no  Joint  PPF  account  is  opened.  Availability  of  this
prescribed form in Post Offices operating PPF scheme may also kindly be ensured.
4.

5.
This may kindly brought to the notice of all post offices operating PPF scheme.

This issues with the approval of DDG(FS).
Yours faithfully,
(Kawal Jit Singh)
Assistant Director (SB)


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