Showing posts with label GOVERNMENT RULES. Show all posts
Showing posts with label GOVERNMENT RULES. Show all posts

NPS rules amended: Entry age increased, exit norms revised// servicebloggers.com

PFRDA (Pension Fund Regulatory and Development Authority) has revised the NPS guidelines on entry and exit, notable changes were on the maximum age limit for joining the NPS from 65 years to 70 years of age. 

The detailed age eligibility for entry in NPS has been revised as 18-70 years from 18-65 years. In short I have also registered in this scheme. 

As a huge relief for late entry pension subscribers in National Pension Scheme (NPS), the PFRDA has revised the rules for those joining it after 65 years of age. In a set of new rules, PFRDA has permitted them to allocate up to 50% of the funds in equity, besides easing the exit norms.


Any Indian citizen and Overseas Citizen of India (OCI) in the age group of 65-70 years can also join NPS and continue up to the age of 75 years, according to a PFRDA circular on the revised guidelines.

One of highlighted good news is “Those customers who have closed their NPS accounts have also been permitted to open a new account as per increased age eligibility norms," PFRDA said in a statement. 

The maximum equity exposure, however, will be only 15%, if subscribers joining NPS beyond the age of 65 years decide to invest, will be under the default option without any choices. A customer joining NPS beyond the age of 65 years, can have a choice of PF (pension fund) and asset allocation with the maximum equity exposure of 15 per cent and 50 per cent with respect to Auto and Active Choice.  

The NPS customer has the freedom to allocate his/her contributions to different asset classes through 'Active Choice' or 'Auto Choice'. Under 'Active Choice', the user has more way on allocation of funds across asset classes, while in 'Auto Choice' the funds gets invested in pre-determined proportion as per the age of the utilisers.

The contributions of customers are invested by the PF's (chosen by the customer) in compliance with the investment guidelines for each asset classes; namely equity, corporate bonds, government securities and alternate assets.

Customers joining the social security scheme beyond the age of 65 years can allocate only 5 per cent of the funds to alternate assets under 'Active Choice'. This asset class is not available under the 'Auto Choice' option.

"Important point to note is the PF can be changed once per year, whereas the asset allocation can be changed twice".

Normal maturity exit shall be after 3 years on the exit conditions for customers joining NPS beyond the age of 65 years, the circular said. 

One of the conditions say: The customers will be required to utilise at least 40 per cent of the corpus for purchase of annuity and the remaining amount can be withdrawn as lump sum.

However, if the corpus is equal to or less than ₹5 lakh, the user may opt to withdraw the entire accumulated pension wealth in lump sum.

The other conditions from PFRDA says; exit before the completion of three years will be treated as 'premature exit'. Under premature exit, the customer is required to utilise at least 80% of the corpus for purchase of annuity and the remaining can be withdrawn in lump sum. 

In the case of premature exit, if the corpus is less than ₹2.5 lakh, the customer may opt to withdraw the entire accumulated amount in one go. The PFRDA further said that in case of death of the subscriber, the entire corpus will be paid to the nominee as lump sum.

Other NPS customer's having a specified corpus at the time of retirement or attaining the age of 60 years need to buy an annuity, offered by insurance companies, on a mandatory basis.

Gramadhanam Meaning/ Gramathana sites Meaning // servicebloggers.com

The Gramadhanam (கிராமதானம்) means a peace of land had been given to local residence for free within a village. Gramadhanam properties do not need conversions as they have been used as residences for a long time. In olden village maps drawn during British ruling days, these Gramadhanam can he observed as having been marked as palayam, ooru, etc... (village) properties surrounded Icy survey numbers corresponding to agricultural lands, even in BBMP areas, there are Gramadhanam's for which you can directly obtain a Khata provided the land is a genuine Gramadhanam. Forms 9 and 10, which were tax paid receipts issued by village accountants or other revenue officials in the early days, were previously illicit as proof of a property being designated a Gramadhanam property. But in the 1990s, these forms were issued to lands with survey numbers (agricultural lands), and sellers would use this as proof to convince the buyers to buy unconverted agricultural land passing them off as Gramathana/ Gramadhanam. However, even now there are genuine Gramathana properties within the city. To ensure that it is so, obtain a certificate from the Department of Survey. Settlement & Land Records stating that the property is a Gramathana/ Gramadhanam.



Other related questions:


What is Gramathana Land sites or properties and how to sell Gramathana land?

A Gramathana Site is a site inside village limits which can be used for residential purposes. In many cases the site is surrounded by agricultural lands, but the Gramathana Site itself can be used for non-agricultural purposes.


Is it safe to buy Gramathana Sites ?

Yes, It is legal. e-Khata is now given. Owner details can be checked online as it is electronic; your details can also be checked once you buy property and register on your name. A Khata and e-Khata both are 100% legal.


Which Khata is issued for Gramathana Sites?

Form-9 is a document issued by the Gram Panchayat for non-agricultural properties in its jurisdiction as per Karnataka Panchayat Raj (Grama Panchayat Budgeting and Accounting) Rules 2006, Amendment Rules 2013 mentioned under Rule 28. Gram Panchayats can issue Form 9 only for properties which are attested by the Tahsildar through a sketch certifying the location as located within the Gramathana of the village as per Karnataka state Revenue Department circular bearing No. RD 174 MUNOMU 2005 dated 23.08.2005 and bearing No. RD 146 ASD 2013 dated 14.06.2013. You may download this by click here

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Why curdling happens when boiling milk and jaggery at the same time?


Curdling of milk happens due to the acidic nature of the jaggery. Curdling can be avoided by adding jaggery powder after stopping the stove or make jaggery syrup by boiling jaggery with water and mix with hot milk.

Five health benefits of consuming Jaggery in place of white ash sugar:

1. Prevents constipation: Jaggery activates the digestive enzymes in the body, stimulates bowel movements and thus helps prevent and relieve constipation.
2. Detoxifies the liver: Jaggery helps cleanse the liver by flushing out harmful toxins from the body. So if you want to effectively detoxify your body, bite into a piece of jaggery.
3. Treats flu-like symptoms: Fight symptoms of a cold and cough with the help of gur/Naatu sarkarai. All you need to do is mix it with warm water and drink up, or even add it in your tea instead of sugar to reap the benefits.
4. Blood purifier: One of the most well-known benefits of jaggery is its ability to purify the blood. When consumed on a regular basis and in limited quantities, it cleanses the blood, leaving your body healthy.
5. Boosts immunity: Jaggery is loaded with antioxidants and minerals such as zinc and selenium, which in turn help prevent free-radical damage and also boost resistance against infections. Jaggery also helps increase the total count of hemoglobin in the blood.

We Sri Amman Products are manufacturers and packers of this product. Feel free to purchase from us as we provide Organic Jaggery powder, Herbal Jaggery powder cheaper than the market price. Contact call or Whats app +919626227212.