A Well thought (but misguided) Strategy or a Scam - Program Management fee for HDFC Classic and Preferred accounts

An open letter to HDFC Bank Executives
by a long time loyal customer (now looking for moving to other banks)

Since Jan 2016, HDFC bank started charging Rs 100 per quarter as program management fee for classic and preferred accounts.

I have been a long time hdfc customer with decent amount of money parked in FDs and multiple savings accounts. I came to know about this 'program management fee' ...

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EPF — What is EE amount and ER amount

When you inquire your EPF (also called PF for provident fund) balance from EPFO, the terms you encounter are EE and ER.

EE amount - Employee Contribution in EPF account.
ER amount - Employer Contribution in EPF account.

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EPF — Claim has been approved. Payment is under process.

Once you submit the EPF/PF withdrawal forms, the status message that you see on website is

Claim Form 19 for PF Settlement AGAINST Member Account No () has been approved. Payment is under process.

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UAN Full Form and Meaning

UAN No. = Universal Account Number

Now-a-days during the company joining, one of the details asked to employee is to give their 'UAN No.' Most of the new employees (and even experienced people) are confused about the meaning of UAN as it is a relatively new ID issued by government (started in 2014).

Here are useful quick details to help you:

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EPF — Your request is in Transit between EPFO Out and In Office

Once you submit your provident fund (EPF / PF) transfer claim and it gets approved by your employers, the status message that you see on website is

Your request is in Transit between EPFO Out and In Office

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Why insurance and which insurance? Declutter, Declutter

OK. We all know that insurance is a means to financially absorb the cost of bad things that happen in life. But just look at the myriad of policies that are there - Life Insurance, Home Insurance, Travel Insurance, Critical Illness Insurance, Health Insurance, Auto Insurance, Disability Insurance........ Everything under the sun can be insured these days. Do I really need so many insurance policies? What are the basic minimums? How do I decide?

I was confronted with this question some time back and below is what I came up with. I believe, three major factors would decide the bare minimums for everyone.

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Interest rate on EPF deposits for year 2015-16

EPF interest rate is hiked to 8.8% for the current fiscal year (2015-16) from 8.75% of the previous year.

As posted earlier, EPFO's advisory body, Finance Audit and Investment Committee (FAIC), had recommended 8.95% interest on PF deposits for 2015-16, which was supported by trade union leaders but the CBT (Central Board of Trustees, EPFO's apex ...

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Interest rates on PPF and other small savings schemes reduced drastically

Interest rate on PPF and other small savings schemes like Kisan Vikas Patra (KVP), Sukanya Samriddhi Account, Senior citizens savings scheme, etc. have been reduced drastically from April 1, 2016 as the government has decided to shift to a lower overall interest rate regime.

In case of PPF, interest rate will be 8.1% from April 1 to June 30, down from the earlier 8.7%. Sukanya Samriddhi Account ...

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EPF Bonaza - Interest rates to be raised to 8.95%

EPFO has proposed to raise the interest rate on EPF deposits to 8.95 % for the current financial year 2015-16. The interest rate in the previous financial year was 8.75%.

The proposal is a bonaza to the working class, especially because it comes at a time when government is expected to lower the interest rates of many small saving schemes such as public provident fund, national savings ...

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Ten Things to Look For in a Pre-school

When we think of sending our kids to school for the first time, we want them to be in safe, loving and caring hands. But the fact that most schools are out there only for money makes things complicated. What the schools say and show to parents differs quite a lot from what actually happens inside. So what do we do?

I have been there, made my mistakes and learnt from them. Here are my few cents, ...

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