Linking of GPF Interest Rates With EPFO


Linking of GPF Interest Rates With EPFO

The rates of interest on General Provident Fund (GPF) is 8% for the period from 1.4.2011 to 30.11.2011 and 8.6% from 1.12.2011 to 31.3.2012, whereas the rate of interest on EPF for the financial year 2011-12 is 8.25%. Rate of interest on EPF is fixed on the recommendation of the Central Board of Trustees (CBT) by the Employees Provident Fund Organisation (EPFO), Ministry of Labour and Employment based on the income earned on the accumulated fund during the financial year. However, rate of interest on GPF is generally fixed after taking into consideration the average secondary market yields on government securities of similar maturity. 

This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Lok Sabha today

Subscribers to NPS to Now have Choice of Annuity Service Providers


Subscribers to NPS to Now have Choice of Annuity Service Providers

PFRDA takes Important Step towards Providing an Exit Route to the Subscribers

Subscribers to the National Pension System (NPS) will now have a choice of Annuity Service Providers, from whom they can choose their annuity schemes on their exit from NPS on attainment of 60 years of age. Pension Fund Regulatory and Development Authority (PFRDA) has empanelled the following six IRDA approved life insurance companies for providing annuity services to the subscribers of National Pension System (NPS). 

1. Life Insurance Corporation of India
2. SBI Life Insurance Co. Ltd. 
3. ICICI Prudential Life Insurance Co. Ltd. 
4. Bajaj Allianz Life Insurance Co. Ltd. 
5. Star Union Dai-ichi Life Insurance Co. Ltd. 
6. Reliance Life Insurance Co. Ltd. 

under the provisions of NPS, a maximum of 60% of corpus accumulated at the time of exit, normally on the attainment of 60 years of age, can be withdrawn but a minimum of 40% corpus has to be utilized for purchasing an annuity from one of the empanelled annuity service providers. Subscriber can choose from any of the six above mentioned annuity service providers and can also make their choice of the annuity scheme from amongst the schemes being offered by these providers. 

With the above empanelment, PFRDA has taken an important step towards providing an exit route to the subscribers. 

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Updated LTC 80 Fares as on 1st May , 2012


Remarks & Notings

Bookings through Air India web site: 10% discount offered on the basic fares till 30th September,2012

1 a) EAP14 & SAP 7 Fare Levels are Advance Purchase Fares which are  available for sale  
upto 14 days, & 7 days respectively in advance before schedule date of departure of the flight.

2 Taxes, Fee & Charges

  In addition to the above fares, Passenger Service fee, Airport Development Fee (wherever applicable) and Service Tax would be applicable.

a) Passenger Service fee is Rs. 233 except  (a) Ex Jammu,Srinagar  Leh where it is 207 & (b) ex Bangalore, Hyderabad  & Kochi it is 225/-

b) Airport tax (UDF)  ex  Hyderabad Rs. 484, Bangalore Rs. 260, Jaipur Rs. 150, Delhi Rs.225 
Amritsar Rs. 150, Trichy Rs. 150, Vishakapatnam Rs. 150, Udaipur Rs. 150, Ahmedabad Rs. 124, Mangalore Rs. 150, Varanasi Rs. 150.   
  
c) Service Tax  would be additional as applicable.



3 Fare Rules:

Fee for Refund/revalidation/re-issuance  is levied as detailed under: 
(i) First/Executive & Economy class under RBDs Y,B & M and LTC fares

(ia) On Refund -  a processing fee of Rs.200 per coupon is levied. 
(ib) No re-issuance and revalidation fee is  applicable.

(ii) Tickets issued  on fares  under RBDs H to T 

(iia) Refund – Permitted up to 1 hr before scheduled departure of the flight against a Refund Fee of -Rs.500 per coupon . 
  Refund of No-show ticket, permitted  against a Refund Fee of -Rs.1500 per coupon 
(iib) Revalidation /re-issuance – Permitted up to 1 hr before scheduled departure of the flight against a Change Fee of -Rs.500 per coupon 
  Revalidation of No-show ticket, permitted  against a Change Fee of -Rs.1000 per coupon

(iii) Tickets issued  on fares under RBDs E & S  
(iiia) Refund  – Non-Refundable.

(iiib) Revalidation /re-issuance – Permitted up to 1 hr before scheduled departure of the flight against a Change Fee of -Rs.750 per coupon 
  Revalidation of No-show ticket, permitted  against a Change Fee of -Rs.1500 per coupon



4 Updated Fares as on 1st May , 2012



5 These  fares are subject to Change without prior  notice.


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