10 facts you may not aware of EPF

10 FACT YOU MAY NOT AWARE OF EPF

We all know what is EPF – Employee Provident Fund. A small part of your salary (12% of your basic salary) is invested in something called EPF and an equal amount is matched by your employer each month. This is what 95% people know about EPF. But there are many things in EPF which a lot of people don‟t know and this article is going to open some not known secrets of EPF. One should be aware about all the EPF related information. So lets take them one by one in points format.

1: You can also nominate someone for your EPF

Do you know that there is also "nomination" facility in EPF. The nominee will be contacted at the time of death of the person and handed over the EPF money. However if nomination is not present (which you should check), it can raise to all sort of issues while claiming money. There is a form called Form 2 which has to be filled to change or update the nomination. Please contact your company finance department or directly send the form to EPFO. One very strange rule as per the Act is that you can‟t nominate your brother for EPF. Not sure why!

2: One can get pension under EPF

Do you know that there are two elements in EPF- one is called EPF and other is EPS. The EPF is actually for your provided fund and EPS is for your pension. The 12% contribution from your side goes to EPF, but the 12% contribution which your employer makes, out of that 8.33% actually goes in EPS (subject to maximum of Rs 541) and the rest goes into EPF. So understand it this way, a part of your employer contribution actually makes up your pension corpus. But there are some caveats to this. PLEASE SEE THE ATTACHMENT.

One is liable for pension only if one has completed the age of 58. One is liable for pension only if he has completed 10 yrs of service (in case of more than one companies, the EPF should have been transferred, not withdrawn) The maximum Pension per month is subject to maximum of Rs 3,250 per month. Lifelong pension is available to the member and upon his death members of the family are entitled for the pension.

3: No interest is given on EPS (pension part)

You must be thinking that you regularly get compound interest each year on your contribution + employer contribution. But it does not work like that. The compound interest is provided only on EPF part. The EPS part (8.33% out of 12% contribution from your employer or Rs 541 what ever is minimum) does not get any interest. At the time of withdrawal , you get both EPF and EPS.

4: You might not get 100% of your EPF money

Imagine your contribution + employer contribution has been total Rs 3,50,000 till date. Out of this 3,50,000 , suppose 2,50,000 has gone in EPF , and rest 1,00,000 has gone in EPS (for pension) . Now if you quit your job in 6th year of employment and opt for withdrawal of your EPF money (EPF + EPS actually) , then do you think you will get total 3,50,000 . NO !

Thats because you always get 100% of your EPF part, but for EPS there is separate rule . There is something called Table „D‟ , under which its mentioned how much you get at the time of exit from your job, there is a slab for each completed year and you get n times of your last drawn salary (depending on the completed year of service) subject to maximum to Rs 6,500 per month. So if your salary in this case was Rs 30,000 per month, still you will be given only 6,500 * 6.40 = Rs 41,600.

Note that the table D is upto 9 yrs only, because if 10 yrs are crossed, then you are liable for pension.

5: You can invest more in EPF, its called VPF

You can always invest more than 12% of your basic salary in EPF which is called VPF. In this case the excess amount will be invested in EPF and you will keep on getting the interest, but the employer is not suppose to match your contribution. He will just invest upto maximum of 12% of your basic, not more than that.

6: Withdrawing of EPF amount at job change is illegal

Almost every one thinks that withdrawing of your EPF amount after a job switch is totally fine and allowed, however as per law, it‟s illegal. You can only withdraw your EPF money only if you have no job at the time of withdrawing EPF and if 2 months have passed. Only transfer is allowed in case you get a new job and you switch to it. 

While there are no cases where EPF office tracks these things and takes up this matter, still just for your information you should know that if you got a new job and took it and then you are applying for withdrawal, its illegal as per law. However in
case of EPS, if the service period is less than 10 years, you‟ve option to either withdraw your corpus or get it transferred by obtaining a „Scheme Certificate‟. Once, the service period crosses 10 years, the withdrawal option ceases.

7: One can opt out of EPF if he wants

Yes! It might be a surprising fact for many , but if one‟s basic salary per month is more than Rs 6,500, he has an option to opt out of EPF and not be part of it. In which case he will get all his salary in hand (without anything deducted every month). But the sad part is that one has to opt out of EPF in the start of his job. If a person has been part of EPF even once in his life, then he cant opt out of it. So if you have already had EPF in your life. This option is not for you, but if you are new to job and your EPF account number still does not exist, you can tell your employer that you don‟t want to be part of EPF . You will have to fill up form 11 for this.

8: Your EPF gives you some life insurance too

A lot of people might not know that in case a company is not providing group life insurance cover to its employees, in that case the employee is given a small life cover through EPF. This is because there is something called Employees‟ Deposit Linked Insurance (EDLI) scheme and your organisation has to contribute 0.5% of your monthly basic pay, capped at Rs 6,500, as premium for your life cover. However companies which already have life insurance benefits to employees as part of the company, are exempted from this EDLI scheme. The bad part of this EDLI scheme is that the life cover under this option is very low and that‟s maximum amount of Rs. 60,000. While this is peanuts for most of the people in big cities. For employees in small scale industries and small cities, this amount of Rs 60,000 will still count something.

9: You can use EPF money can be withdrawn at special occasions

So now you know that EPF withdrawal is not permitted if you are still working. But there are occasions when EPF withdrawal is allowed. While you cannot withdraw it fully, you can withdraw a partial amount. Following is a list of events when you can withdraw the EPF amount and the conditions you need to fulfill:-

1. Marriage or education of self, children or siblings
- You should have completed a minimum of seven years of service. - The maximum amount you can draw is 50% of your contribution - You can avail of it three times in your working life. - You will have to submit the wedding invite or a certified copy of the fee payable.

2. Medical treatment for Self or family (spouse, children, dependent parents)
- For major surgical operations or for TB, leprosy, paralysis, cancer, mental or heart ailments - The maximum amount you can draw is 6 times your salary - You must show proof of hospitalization for one month or more with leave certificate for that period from your employer.

3. Repay a housing loan for a house in the name of self, spouse or owned jointly - You should have completed at least 10 years of service. - You are eligible to withdraw an amount that is up to 36 times your wages.

4. Alterations/repairs to an existing home for house in the name of self, spouse or jointly - You need a minimum service of five years (10 years for repairs) after the house was built/bought. - You can draw up to 12 times the wages, only once.

5. Construction or purchase of house or flat/site or plot for self or spouse or joint ownership - You should have completed at least five years of service. - The maximum amount you can avail of is 36 times your wages. To buy a site or plot, the amount is 24 times your salary. - Can be avail of it just once during the entire service.

10: You can file an RTI application for EPF issues
Did you know that you can file an RTI applicable to get any kind of information regarding your EPF. You can file it if you are facing issues like no clarity about balance in your EPF, no action taken for your EPF withdrawal or transfer. To find out information about other issues on EPF. 

The glimpses of body art technique

During the course of an exhibition conducted at CHENNAI TRADE CENTRE, a workshop on body art was conducted by one beautician from Italy and she could complete the art within half an hour.

An Irish Ghosh Story

This story happened a while ago in Dublin, and even though it sounds like an Alfred Hitchcock tale, it's true. ~~~~~~~~~~~~ John Bradford, a  Dublin  University student, was on the side of the road hitchhiking on a very dark night and in the midst of a big storm. The night was rolling on and no car went by. The storm was so strong he could hardly see a few feet ahead of him. Suddenly, he saw a car slowly coming towards him and stopped. John, desperate for shelter and without thinking about it, got into the car and closed the door.... Only to realize there was nobody behind the wheel and the engine wasn't on. The car started moving slowly. John looked at the road ahead and saw a curve approaching. Scared, he started to pray, begging for his life. Then, just before the car hit the curve, a hand appeared out of nowhere through the window, and turned the wheel. John, paralyzed with terror, watched as the hand came through the window, but never touched or harmed him. Shortly thereafter, John saw the lights of a pub appear down the road, so, gathering strength; he jumped out of the car and ran to it. Wet and out of breath, he rushed inside and started telling everybody about the horrible experience he had just had. A silence enveloped the pub when everybody realized he was crying... And wasn't drunk. Suddenly, the door opened, and two other people walked in from the dark and stormy night. They, like John, were also soaked and out of breath. Looking around, and seeing John Bradford sobbing at the bar, one said to the other....    Look Paddy....there's that idiot that got in the car while we were pushing it!!!!'

CONFUSIONS

RAMANATHAWSAMY TEMPLE

Rameswaram is considered to be significant for the Hindus and pilgrimage to Benares is incomplete without a pilgrimage to Rameswaram.

Ramanathaswamy temple is a famous Hindu temple dedicated to Lord Shiva located in the island of Rameswaram.

When it comes to the structure of the temple, like all ancient temples in South India especially in Tamilnadu, there is a high compound wall called as “mathil” on all four sides of the temple premises measuring about 865 feet from east to west and one furlong of 657 feet from north to south with huge towers (gopurams) at the east and west and finished gate towers on the north and south.

The temple has striking long corridors in its interior, running between huge columnades on platforms above five feet high.

The outer set of corridors is reputed to be the longest in the world being about 400 feet in each in the east and west and about 640 feet in north and south and inner corridors are about 224 feet in east and west and about 352 feet each in north and south.

Their width varies from 15.5 feet to 17 feet in the east and west about 172 feet on the north and south with width varying 14.5 feet to 17 feet. The total length of those corridors is thus 3850 feet. There are about 1200 pillars in the outer corridor and their height is about 30 feet from the floor to the center of the roof.

There are six worship services carried out each day, the first being by 05.00 A.M. Special worship services are carried out every Friday.

When it comes to festivals, Rama’s worship is commemorated in the month of Aani – (June 15 to July 15) two annual Bhrammotsvams are celebrated in Aadi and in Maasi.

PERFECT EYESIGHT IS POSSIBLE

The following are the contents from the blog of Mr Arooran reproduced for the information of the viewers

கண் குறைபாடுகள், கண்ணாடி அணிவதிலிருந்து விடுதலை - அமைதியாய் ஒரு புரட்சி


என் 9 வயது குழந்தைக்கு இடது கண்ணில் பார்வை குறைபாடு இருப்பது சமீபத்தில் தான் தெரிய வந்தது. வலது கண்ணை கைகளால் மூடிக் கொண்டு மற்றொரு கண்ணால் 10 அடி தூரத்தில் இருக்கும் எழுத்துக்களை படிக்கவைத்துப் பார்த்தபோது அவனால் படிக்கமுடியவில்லை. ஆனால் அதே  இடது கண்ணை கைகளால் மூடிக் கொண்டு வலது கண்ணால் 20 அடி தூரத்தில் இருக்கும் எழுத்துக்களை படிக்க முடிகிறது.


இரண்டு கண்களாலும் பார்க்கும் போது  இந்த குறைபாடு தெரியவதில்லை.   ஆனால் பள்ளியிலே கரும்பலகையில் எழுதும் வரிகளைப் படிக்கும்போது சிரமப் படுகின்றனர்.  ஆனால் அதை அவர்கள் சொல்வதில்லை.  எல்லோருக்கும் இப்படித்தான் இருக்கும் என்று நினைத்துவிடுகின்றனர்.


ஈரோட்டில் உள்ள மிகப் பெரிய கண் மருத்துவமணையில் பரிசோதித்த போது, நிரந்தரமாக கண்ணாடி அணியவேண்டும் என்று சொல்லிவிட்டனர்.  கண்ணாடியும் வாங்கி கொடுத்துவிட்டேன்.


அடுத்த சில நாட்களில்,   என்னுடைய பள்ளித் தோழர்.ஒருவரை சந்தித்தேன்.....பள்ளி நாட்களிலேயே பெரிய சோடாபுட்டிக் கண்ணாடி அணிந்திருந்தார். -6 என்ற அளவில் கண் பார்வைக் குறை அவருக்கு இருந்தது.  ஆனால் நான் சந்தித்த அன்று கண் கண்ணாடி அணியாமல், பைக் ஓட்டிவந்ததை பார்த்தவுடன் மிகவும் ஆச்சரியமடைந்தேன்.


என்னப்பா, கண்ணாடி போடாத உன்னை அடையாளமே தெரியவில்லை.......கண்களுக்கான அறுவைசிகிச்சை செய்து கொண்டாயா? அல்லது காண்டாக்ட் லென்ஸ்ஸா? என்று கேட்டேன்.


பாண்டிச்சேரி அரவிந்தர் ஆசிரமத்தில் கண்பார்வை குறைபாடுகளை நீக்க பயிற்சி அளிக்கின்றனர்.  அதில் போய் பயிற்சி பெற்று வந்தேன். கடந்த இரண்டு மூன்று வருடங்களாக கண்ணாடி அணிவதில்லை என்றதை கேட்டதும் ஆச்சரியப்பட்டுப் போனேன்.




அவரிடம் மேலும் தகவல்களை வாங்கிக் கொண்டு இளவலை அழைத்துக் கொண்டு பாண்டிச்சேரி  வந்து சேர்ந்தேன்.

பாண்டிச்சேரி, கடற்கரை சாலையின்,  வடக்கு மூலையில், வட்டாட்சியர் அலுவலகத்திற்கு எதிரில் இந்த பள்ளி அமைந்திருக்கிறது.





திங்கட்கிழமை மதியம் 12 மணியளவில் அந்த பள்ளிக்குச் சென்றேன்.  அப்பள்ளிக்கு ஒவ்வொரு திங்கட்கிழமையும் விடுமுறை. ஞாயிற்றுக் கிழமை வேலை செய்கிறார்கள்.  எனவே மறுநாள் காலை 8 மணிக்கு வரச்சொன்னார்கள்.
இந்த பயிற்சி வகுப்பில் கலந்து கொண்டு பயிற்சி பெற  எந்த கட்டணமும் வசூலிப்பதில்லை, நாம் விருப்பப்பட்டு கொடுக்கும் நன்கொடையை மட்டும் ஏற்றுக் கொள்வதாகவும் தெரிவிக்கப் பட்டது.


விடுமுறை தினமாக இருந்த போதும், அங்கிருந்த ஒரு உதவியாளர், எங்கே தங்கியிருக்கிறீர்கள்? என்று கேட்டார். இனிதான், ஏதாவது ஹோட்டலில் அறை எடுக்க வேண்டும் என்றேன்.  அவசியமில்லை, ஆசிரமத்தின் விடுதியில் தங்கிக் கொள்ளுங்கள் என்று கூறி ஆசிரம விடுதியின் தொலைபேசி எண்ணை கொடுத்தார்.


அழகான தனியறை.  குளியலறை இணைந்த, இரண்டு படுக்கைகள், கொண்ட அந்த அறைக்கு வாடகை நாள் ஒன்றுக்கு ரூ.70/- மட்டுமே.


செவ்வாய்கிழமை காலை 8 மணிக்கு அங்கு சென்றேன். ஆரம்ப கட்ட பெயர் பதிவு, பரிசோதனை ஆகியவற்றை முடித்து, பயிற்சி தொடங்கப் பட்டது.  சுமார் 2 மணி நேரம் பயிற்சி அளித்தனர்.


கிட்டப் பார்வை, தூரப்பார்வை, போன்ற அனைத்து கண் குறைபாடுகளுக்கும் பயிற்சி அளிக்கின்றனர்.  நான் சென்ற போது ஹைதராபாத்திலிருந்து ஒரு தம்பதியினர் தங்கள் இரண்டு பெண்குழந்தைகளை அழைத்து வந்திருந்தனர்.  8, 4 வயதுடைய அந்த இரண்டு குழந்தைகளும் கண்ணாடி அணிந்திருந்தனர்.  அக் குழந்தைகளின் தந்தையும் கண்ணாடி அணிந்திருந்தார்.


அவரின் நண்பரின் ஆலோசனையின் பேரில் குழந்தைகளை அழைத்துவந்திருப்பதாக சொன்னார்.   நேரம் ஆக ஆக, பல குழந்தைகள், நடுத்தரவயதினர், வயதானவர்கள் என்று சுமார் 30 அல்லது 40 பேர்கள் பயிற்ச்சிக்கு வந்திருந்ததை பார்க்க முடிந்தது. இதில் பல வெளிநாட்டவர்களும் அடக்கம்.


செய்வாய் முதல் ஞாயிறுவரை 6 நாட்கள் இப்பயிற்சியை நடத்துகின்றனர்.  காலை 8 மணிமுதல் 10 மணிவரை, மாலை 3 மணிமுதல் 5 மணிவரை.   நாள் ஒன்றுக்கு 4 மணிநேரம் பயிற்சி கொடுக்கின்றனர்.  முறையான கண் சிமிட்டுதல், தூரத்தில் இருப்பதை படிப்பது, இருட்டு அறையில் மெழுகுவர்த்தியின் வெளிச்சத்தில் சிறு எழுத்துக்களை படிப்பது போன்ற பல பயிற்சிகள்.....


ஆச்சரியப் படும் விதமாக, பயிற்சி முடிந்த ஆறாவது நாள் அங்கேயே கண் பரிசோதனை செய்து பார்த்ததில் பார்வையில் நல்ல முன்னேற்றம் தெரிந்தது.  தொடர்ந்து ஆறுமாதம் பயிற்சியை தொடருங்கள் பின் கண் பரிசோதனை செய்து பாருங்கள்.....கண்ணாடி அணிய வேண்டிய அவசியமே வராது என்று பயிற்சியாளர் சொன்னார்.

கடந்த 40 ஆண்டுகளாக இந்த பள்ளி நடப்பதாகவும், இதுவரை ஆயிரக்கணக்கானோர் பயன் பெற்றிருப்பதாகவும் அறிந்து கொண்டேன்.  முன்கூட்டியே பதிவு செய்து கொண்டு செல்வது நல்லது.  மார்ச் முதல் வாரம் முதல் ஜூன் முதல்வாரம் வரையிலான பள்ளிக்கூட விடுமுறை நாட்களில், அதிகமான கூட்டம் வருவதால் அந்த காலகட்டத்தில் செல்ல விரும்புபவர்கள் முன் கூட்டியே பதிவு செய்தால் தான் இடம் கிடைக்கும்.


பயிற்சிகள் முடிந்து வெளியே செல்லும் வாயிலின் மேல்புறத்தில் இருந்த "மதர் மிரா" வின் இந்த வாசகம் பல அர்த்தங்களை எனக்குச் சொன்னது...............





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Posted by ஆரூரன் விசுவநாதன் at 11:16 AM 47 comments Links to this post

ANGEL FALLS

At fifteen times the height of Niagara Falls , Angel Falls is the highest in the world. Just how tall is it? How did it get its name? Did someone seriously BASE jump from the top? Littered amongst the stunning images below you will find the answers. Enjoy!

Angel Falls is the world’s highest waterfall, with a height of 979 meters (3,212 ft) and a plunge of 807 meters (2,647 ft)

It is located in the Canaima National Park , an UNESCO World Heritage site in the Gran Sabana region of Bolivar State , Venezuela . It is one of the country’s top tourist destinations despite its isolated location

Did you know the height of the falls is so great, that before getting anywhere near the ground, the water is atomized by the strong winds and turned into mist? The mist can be felt a mile (1.6 km) away!

The base of the falls feeds into the Kerep River (alternatively known as the Rio Gauya), which flows into the Churun River , a tributary of the Carrao River

Apparently, the falls were not known to the outside world until American aviator Jimmie Angel flew over them on November 16, 1933 during a flight searching for a valuable ore bed. Returning on October 9, 1937, Angel tried to land his Flamingo monoplane, El Rio Caroni atop the mountain, but the plane was damaged when the wheels sank into the marshy ground. He and his three companions, including his wife Marie, were then forced to descend the mountain on foot. It took them 11 days to make their way back to civilization, but news of their adventure spread, and the waterfall was named Angel Falls in his honor. Angel’s plane remained on top of the mountaintop for 33 years before being lifted out by helicopter. It was restored at the Aviation Museum in Maracay and now sits outdoors on the front of the airport at Ciudad Bolívar.