#bank to ifsc code converter

[freemicrotools]

Bank to IFSC Code Converter

[mazharglcwealth]

Demat account and why is one necessary?

What is a Demat account and why is one necessary?

Demat account, short for “Dematerialized Account,” is an account that holds securities and investments in an electronic or dematerialized form. It is the equivalent of a bank account but is used for holding and trading financial instruments such as stocks, bonds, government securities, and mutual funds in electronic format. A Demat account is required to deal in shares electronically. Securities are held in this account in an electronic format that has been dematerialized. An investor is unable to trade stocks on the stock market without a Demat account

Importance of Demat Account:

Maintain a record of every transaction.

Minimize paperwork to facilitate easy liquidity.

Facilitates transactions that are quicker and simpler.

Provides a secure and safe place to store securities.

Removes the possibility of certificates being altered / faked / lost / damaged.

Avoids delays in the securities transfer process.

Dematerialization of shares: Dematerialization of shares refers to the process of transferring financial products, such stocks and bonds, from their physical certificates into an electronic or digital format. In the context of securities and investments, dematerialization involves eliminating the need for physical paper documents by representing ownership and transactions in a digital format.

Features of a Demat Account

Here are some essential elements to help you better grasp what a demat account means-

Simple to Reach: Via net banking, it offers quick and simple access to all of your investments and statements.

Simple Securities Dematerialization: All of your physical certificates can be converted to electronic form with the assistance of the depository participant (DP), and vice versa.

Getting Dividends & Benefits on Stock: It makes advantage of simple and quick ways to get dividends, interest, and refunds. Everything is automatically credited to the account. Additionally, it updates investor accounts with stock splits, bonus issues, rights, public issues, etc. using the Electronic Clearing Service (ECS).

Simple Share Transfers:The usage of a demat account has made share transfers considerably quicker and simpler.

Share Liquidity: Selling shares has never been easier, faster, or more convenient thanks to Demat Accounts.

Advance Against Securities: One can also apply for a loan against the securities held in their demat account after opening one.

Demat Account Freezing: For a predetermined duration of time, one can freeze a specific type or number of securities in their demat account. This will eventually prevent funds from being sent into your account from any debit or credit card.

How Demat Account works

The specifics of the shares and other securities registered in your name are kept in a Demat Account. In order to buy and sell shares, a trading account must be opened. The availability of Trading Accounts with online trading capabilities by numerous banks and brokers facilitates the participation of regular investors in the stock market.

Types of Demat Account:

Documents Required to Open:

Proof of Identity (PoI): Aadhaar Card, Passport, Voter ID, Driving License

Proof of Address (PoA): Aadhaar Card, Passport,  Voter ID, Driving License, Recent utility bills (electricity, water, gas), Bank statements.

Passport Size Photographs: Two passport-size photographs are required.

PAN Card: In order to open a Demat account, you must have a Permanent Account Number (PAN) card..

Income Proof (for trading in derivatives): Salary slips, Income Tax Returns (ITR), Form 16

Bank Account Details: A canceled cheque or a copy of your bank statement with the account number and IFSC code.

KYC Documents: Know Your Customer (KYC) documents may include additional forms provided by the Depository Participant (DP) or the brokerage

How to use Demat Account:

Using your client ID or account number, access your online Demat account.

All of your holdings, whether they be bonds, mutual funds, stocks, or securities, will be visible to you in your portfolio.

To trade, you must obtain a trading account after opening a demat account.

You must link your bank account, trading account, and Demat account after opening an account.

Before you may begin trading after linking your accounts, you must submit an order request through your trading account. After that, your broker will put you in touch with the suitable trading platform so you may place your trade.

The exchange will handle your order online.

Depending on the transaction you complete, your Demat account will then be credited or debited, and you will receive a confirmation message via SMS and email.

Using your client ID or account number, access your online Demat account.

All of your holdings, whether they be bonds, mutual funds, stocks, or securities, will be visible to you in your portfolio.

To trade, you must obtain a trading account after opening a demat account.

You must link your bank account, trading account, and Demat account after opening an account.

Before you may begin trading after linking your accounts, you must submit an order request through your trading account. After that, your broker will put you in touch with the suitable trading platform so you may place your trade.

The exchange will handle your order online.

Depending on the transaction you complete, your Demat account will then be credited or debited, and you will receive a confirmation message via SMS and email.

Visit Company Webpage: https://glcwealth.com/blog/what-is-demat-account-and-why-is-one-necessary/

[shopwithmenow]

Seamlessly Linking Your Bank Account for Refunds on Flipkart

Flipkart, one of India's leading e-commerce platforms, offers a hassle-free shopping experience, but occasionally, refunds may be necessary due to various reasons. To ensure a smooth and convenient refund process, it's essential to have your bank account linked to your Flipkart account. By following the steps outlined in this article, you can easily add your bank account information to Flipkart, enabling swift refunds directly to your preferred bank account.

Today we discuss "how to add bank account in flipkart for refund" step by step:-

Step 1: Log into Your Flipkart Account

Start by visiting Flipkart's official website or opening the Flipkart app on your device. Log into your Flipkart account using your registered email address and password.

Step 2: Access Your Account Settings

Once you're logged in, locate the account settings section. On the Flipkart website, you can typically find this by clicking on your account name or profile picture in the top-right corner. On the app, access the menu options and look for the "My Account" or similar section.

Step 3: Navigate to Payment Settings

Within the account settings, search for the "Payment Settings" or "Bank Account" option. Flipkart may use different terminology, but the objective is to manage your payment and refund preferences.

Step 4: Choose "Add Bank Account" or Similar Option

Under the payment settings, look for the option to add a bank account. Click on "Add Bank Account" or a similar button to proceed with the process.

Step 5: Enter Bank Account Details

You will be prompted to enter your bank account details accurately. Provide the required information, such as your bank account number, account holder's name, IFSC code, and branch details. Ensure that the information you provide is correct to avoid any issues with refunds.

Step 6: Verify Bank Account Details

After entering your bank account details, double-check the information for accuracy. Make sure all the digits of your account number and IFSC code are correct. A small mistake can lead to payment delays or failed transactions.

Step 7: Save and Verify Bank Account

Once you have entered and reviewed your bank account details, save the information. Flipkart may require you to verify your bank account to ensure it belongs to you. This verification process typically involves a small refund amount being credited to your account, which you will need to verify through Flipkart's instructions.

Step 8: Confirm Bank Account Addition

After verifying your bank account, Flipkart will prompt you to confirm the addition of your bank account. Carefully review the details provided and click on the confirmation button to complete the process.

Step 9: Set as Primary Bank Account (Optional)

If you have multiple bank accounts linked to your Flipkart account, you can choose to set your recently added account as the primary bank account. This selection ensures that refunds are credited to this account by default.

Step 10: Bank Account Successfully Added

Congratulations! You have successfully added your bank account to your Flipkart account for refunds. Now, when you initiate a refund, the funds will be credited directly to your linked bank account, providing a convenient and efficient refund experience.

Conclusion:

Linking your bank account to your Flipkart account for refunds is a simple and valuable process that streamlines the refund experience. By following the steps outlined in this guide, you can ensure that your refunds are credited directly to your preferred bank account, eliminating the need for additional steps or processes. Enjoy a seamless and efficient refund process on Flipkart, knowing that your bank account is securely linked for hassle-free transactions.

Also checkout "how to convert flipkart coins to cash"

[ajit777]

FUNDRAISER FOR #AJIT TO LEAVE INDIA ASAP:

I am not tagging anyone. I hope you can contribute this time. As it's very urgent. I haven't converted the currency because I am pretty sure you can do that, as per your need & convenience.

Federal Bank Ltd

Name of Account holder : Ajit Kumar Ranjan

Account Number: 99980108195863

IFSC CODE : FDRL0001769

Address: HSR LAYOUT BRANCH, BANGALORE, KARNATAKA, INDIA

Swift Code : FDRLINBBIBD

🌷🌷🌷

₹495000 + ₹3 lacs NEEDED TO LEAVE INDIA .....

ASSIST FINANCIALLY NOW & TAKE BACK JUST AFTER A YEAR.

I HOPE ITS OK.

PLEASE DM/CALL/WRITE/SIGNAL/TELEGRAM ETC...

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ONE IMPORTANT THING:

AS WE ARE COLLECTING FUNDS SO THAT AJIT COULD LEAVE INDIA.

PLEASE DO NOT SEND LESS THAN ₹1000 INR( IF YOU ARE INDIA BASED ). WHEREAS NO CAP FOR OTHER CURRENCY CONTRIBUTORS.

We won't be keeping track of that. So DON'T SEND LESS THAN ₹1000.

We understand you didn't know, but this is what it is!!

ABOVE ALL WE DON'T TAKE MONEY FROM TINY PEOPLE 🌷🌷. " NEVERTHELESS THANKFUL."

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Very badly occupied. So assist me financially now :

* ₹ 5-8 lakhs INR

* For a period of 1 year.

* Willing to return with the appropriate rate of interest added.

All contact details in bio.

Hurry!!

Federal Bank Ltd

Name of Account holder : Ajit Kumar Ranjan

Account Number: 99980108195863

IFSC CODE : FDRL0001769

Address: HSR LAYOUT BRANCH, BANGALORE, KARNATAKA, INDIA

Swift Code : FDRLINBBIBD

Every Penny counts...🌷🌷

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If you want to contribute via Milaap website the link is...

https://milaap.org/fundraisers/support-ajit-34?co=true

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The sooner you financially contribute to achieve our goal of ( ₹495000 + ₹3 LACS ), the sooner #AjitLeaves 💮🐚☸️🌺🌷👍

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[pkpconsult]

MSME Udyam Registration- Process, Benefits, Updation, Cancellation

The Indian Government is promoting micro, small, and medium enterprises. Setting up businesses, without facing legal hassles, becomes smooth under professional surveillance. Things have been simplified since the facility of filing online application has been introduced. Registering for an MSME becomes easier, simplified, and less time consuming. There are umpteen advantages that a business can enjoy after registering under MSME.

By following a simple procedure and completing all formalities, the business gets entitled to different benefits and upgrading at reduced rates & fees. For deeper insight, the write-up below for perusal will throw light on a lot of pivotal details related to MSME

Register a Micro, Small and Medium Enterprise

An individual willing to set up a micro, small or medium enterprise requires filing Udyam Registration online in the Udyam Registration portal, based on self-declaration. It doesn’t require uploading documents, papers, certificates or proof.

Soon after registration, an enterprise referred to as “Udyam” in the portal is assigned a permanent identity number i.e. Udyam Registration Number.

After the completion of the online registration procedure, the e-certificate called Udyam Registration Certificate will be issued by the authorities.

What is UDYOG Aadhaar?

Every business in the market, be it small scale or large scale, is allotted Udyog Aadhaar. It is an identity for a business active in the market and registered under MSME. The 12-digit identity number is issued to all small & medium scale enterprises and industries by the MSME Ministry. Every business is thus registered under the MSME category through the unique identification number.

Difference between Udyog Aadhaar, MSME & SSI

Previously, Udyog Aadhaar was identified by the name of MSME registration. Now onwards, the process of registration has been converted from MSME registration to Udyog Aadhaar registration.

· SSI vs. MSME

To a great extent, there’s nothing much that can be distinguished between SSI and MSME. Small scale industries (SSI) were initiated alongside MSME Development Act, 2006. The sole aim for the act is to develop the SSI sector.

Eligibility

Existing MSME Classification

· Sector Criteria Micro Small Medium

· Manufacturing Investment < Rs.25 lakh < Rs.5 crore < Rs.10 crore

· Services Investment < Rs.10 lakh < Rs.2 crore < Rs.5 crore

Revised MSME Classification

Criteria Micro Small Medium*

Investment & Annual Turnover < Rs.1 crore & < Rs.5 crore < Rs.10 crore & < Rs.50 crore < Rs.50 crore & < Rs.250 crore

Where to Apply:

Apply online without at paying fees at https://udyamregistration.gov.in/Government-India/Ministry-MSME-registration.htm

BENEFITS OF UDYOG AADHAAR CERTIFICATE

· Receiving loan from bank(s) becomes simplified

· Shield against payments that are delayed

· Zero charges for UAN

· Simplified process to gain approval, license, and registration

· Less electricity bill privilege

· Discounted trademark registration (up to 50%)

· Facility to open current account

· Compensation on ISO certificate fees

· Easy acquisition for government MSME tenders

· Exclusion from direct tax laws (promotion subsidy under MSME)

· 1% bank OD subsidy

· Authorized by the Indian Government  

Help to MSMEs to recover outstanding payments:

Government of India Ministry of Micro, Small & Medium Enterprises

· According to the Sec-8, Insolvency and Bankruptcy Code, 2016, active creditor of a company/firm can serve a demand notice in case of issues in the payment on the due date.

· Active creditors can choose/opt for corporate insolvency resolution under the provision of Section 9 of the IBC Code.  It is applicable in cases of payments under INR 1 lakh.

Micro & Small Enterprises (MSEs) can visit the Samadhaan portal. It is the portal with the `Information Utility (IU)’ of National e-Governance Services Ltd. (NeSL).

https://samadhaan.msme.gov.in/MyMsme/MSEFC/MSEFC_Welcome.aspx

A link to MSEs for logging into NeSL-IU will be sent. It allows checking respective digital signatures attesting the info on the portal

I. The NeSL will upload the copy of unpaid invoices. With permission from MSEs, the information could then be shared to other lenders like Banks, NBFCs, rating agencies and other MSMEs concerning the defaulting buyers.

II. MSE can share the details of unpaid invoices on NeSL portal.

III. This will pressurize them for clearing outstanding payments.  

GUIDELINES FOR FILING AADHAAR UDYOG FORM

1. Aadhaar Number: 12-digit Aadhaar number of the applicant is mandatory.

2. Name of the owner: Applicants are expected to fill the name stringently as stated in the Aadhaar Card issued by UIDAI.

E.g. If Anand Kumar Sahu has his name as Anand Sahu, the same name must be entered. If the name fails to match with the Aadhaar number, the applicant will not be able to fill the form.

Aadhaar Validation-

· Validate Aadhar- The option ‘Validate Aadhaar’ must be clicked for verification. Only after completing the procedure , the user can fill the form.

· Reset- By clicking the reset button, the fields like Name of the Owner and Aadhaar Number can be cleared.

· Applicant will receive the OTP on the mobile number registered with UIDAI

3. Social Category: Applicant’s caste: General/SC/ST/OBC is needed. Society sections, other than general, submitting the documents like caste certificate is mandatory, when demanded by the appropriate authority.

4. Gender- This section is to determine the gender of the entrepreneur/applicant.

5. Identification/Physically-Handicapped- If applicant is handicapped/specially-abled, he/she can select the section or ignore

6. Name of Enterprise- Applicants are expected to fill the name of the enterprises that will be legally known to the public. An applicant with multiple enterprises active in the market can be registered for separate Udyog Aadhaar with the same number for both enterprises. The combination of the same number can be integrated the second time and only additional details can be deleted/amended while editing.

7. Type of Organization- All applicants are allowed to choose the type of business/nature of business enlisted in list. Also, it is mandatory for the applicant to assure the legal authorization from legal entity i.e. enterprise being registered for Udyog Aadhaar, to fill the online form. Each enterprise shall be provided one Udyog Aadhaar number.

8. PAN Number – PAN number needs to be entered by the applicant if the business is co-operative, private limited, and limited liability partnership (LLP). Things will be optimal is the rest of the organization structure.

9. Location of Plant- Applicants are allowed to add multiple locations of the corporate site under registration by clicking the option Add Plant.

10. Official Address- Filling the complete postal address of the Enterprise including State, District, Pin code, Mobile No., and Email are mandatory details that must be filled by the applicant.

11. Date of Commencement- This section is also essential to be filled by the applicant. There must be sufficing record as when the business was commenced.

12. Previous Registration Details(if any)- In case the applicant’s enterprise already holds a valid EM-I/II for which Udyog Aadhaar is applied, by the GM (DIC) under MSME Declaration Act 2006 or SSI registration that prevailed prior, such details must be mentioned correctly.

13. Banking Details- It is essential for the applicant to provide his/her bank account number used for transactions for enterprises in the appropriate place. The applicant must share the IFS Code of the bank’s branch where his/her mentioned account exists. The IFS code is nowadays printed on the Cheque Books issued by the bank. Alternatively, if the Applicant knows the name of the Bank and the branch where his/her account is there, the IFSC code can be found from website of the respective Bank.

14. Key Activities- nature of business like “Manufacturing” or “Service” can be chosen by the enterprise for Udyog Aadhaar. In case the business is bi-nature i.e. engaged in manufacturing and service, it must be categorized under manufacturing. Enterprises, serving as manufacturers on a bigger note and offering service additionally must be categorized under manufacturing. Similarly, enterprises focusing on the service sector must include service category and do not include manufacturing in their details.

15. National Industry Classification Code (NIC Code)- The Applicant can choose two or more National Industrial Classification-2008 (NIC) Codes to encapsulate all their activities. It can be done by selecting multiple NIC code of Manufacturing and Service sector and clicking “Add More” button.

If you want to add Manufacturing then

· select “Manufacturing” radiobutton and

· keep on adding by clicking “Add More” button

If you want to choose the service option then

· select “Services” radiobutton

· keep on adding by clicking “Add More” button

Central Statistical Organization (CSO), under the ministry of statistics & program implementation (Govt. of India), is responsible for creating NIC codes.

NIC Code LIST: https://udyamregistration.gov.in/docs/NIC-code-for-MSME-classification-defination.pdf

The Applicant may use National Industrial Classification-2008 (NIC) Codes searching facility to avoid 3 steps selection process.

Example: The user requires filling the exact keywords (2 or more characters) in Search text box in Column No 11. Then all related NIC CODEs will be listed (including Nic 2 Digit, Nic 4 Digit & Nic 5 Digit) with code and description.

If User selects NIC 5 Digit code, then automatically all the related fields (like NIC 2 Digit, 4 Digit, 5 Digit & Enterprise Type) in column 11 will be automatically filled. In the same manner, If user selects NIC 4 digit, then related field of 2 digit NIC Code will filled, user still requires selecting NIC 5 digit from drop down(In this case 2 steps are required).

Nic Code not covered under MSME Retail & Wholesale trades included as MSMEs

16. Number of Employees- The applicant requires stating the workforce that is being paid by the enterprise. It is vital to assure the exact number of employees and wage earners.

17. lnvestment in Plant & Machinery / Equipment- While tallying the total investment , the original investment (buying cost of items) should be taken into consideration. However, it can exclude the resources spent for pollution control, research and development, industrial safety devices, and such other items as may be specified, by notification of RBI.

If an enterprise started with a set of plant and machinery purchased in 2008 worth Rs. 70.00 lakh has procured additional plant and machinery in the year 2013 worth Rs. 65.00 lakh, then the total investment in Plant & Machinery may be treated as Rs. 135.00 lakh.

18. DIC- Applicant requires filling in location of DIC based on the location of the Enterprise. This specific column will remain active and display option only when there are multiple DIC in the district. On the other hand, the system will automatically register you in the same DIC when there’s only one DIC in the region specified.

19. Submit- The OTP will be generated after the applicant submits all details. The OTP generated will be sent on the registered email address/mobile number.

20. The Applicant have to enter OTP received on mobile (linked with Aadhaar) second time.

21. Enter Captcha- Applicant must enter Captcha before clicking Final Submit button.

You can migrate to Udayam (Re-Register) here

UDYAM REGISTRATION FORM – For those already having registration as UAM

https://udyamregistration.gov.in/UdyamRegistrationExist.aspx

UDYAM REGISTRATION FORM – For those already having UAM registration under assisted filling

https://udyamregistration.gov.in/Udyam_AssistedMigration.aspx

Print Udayam Registration Certificate

https://udyamregistration.gov.in/PrintUdyamCertificate.aspx

Udayam Verify

https://udyamregistration.gov.in/Udyam_Verify.aspx

Forgot UAM-Udayam Registration No

https://udyamregistration.gov.in/UAM-convert-udyam-msme-free-registration.htm

Print Udyog Aadhaar Registration Certificate

https://udyamregistration.gov.in/UA/PrintAcknowledgement_Pub.aspx

Udyog Aadhaar Memorandum – Online Verification

https://udyamregistration.gov.in/UA/UA_VerifyUAM.aspx

Update/Cancel Udayam Registration:

https://udyamregistration.gov.in/Udyam_Login.aspx

Udyam Registration Form – For New Entrepreneurs (With Pan Yes)

https://udyamregistration.gov.in/docs/process_msme_regisration_new_pan_Yes.pdf

Udyam Registration Form – For New Entrepreneurs (With Pan NO)

https://udyamregistration.gov.in/docs/process_msme_regisration_new_No_pan.pdf

Vital Information You Must Know

An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely: —

A micro enterprise, where the investment in plant and machinery or equipment does not exceed INR one crore and turnover doesn’t surpass INR five crore

A small enterprise, where the investment in plant and machinery or equipment does not exceed INR ten crore and turnover remains below INR fifty crore; and

A medium enterprise, where the investment in plant and machinery or equipment do not surpass INR fifty crore and turnover stays below INR two hundred and fifty crore.

For the detailed legal framework for classification of MSMEs and Procedure for their Registration

https://udyamregistration.gov.in/docs/Udyam%20Registration%20Booklet.pdf

Information You Should Know

There’s a full-fledged system for facilitating the registration process organized by the Govt. of India:

· An enterprise, for the purpose of this process, will be identified as Udyam and its Registration Process will be known as ‘Udyam Registration’

· A permanent registration number will be allotted after registering successfully

· An online certificate will be issued for certifying the successful completion of registration

· This certificate will have a dynamic QR Code from which the web page on our Portal and details about the enterprise can be accessed.

There’ll be no requirement for renewing the registration

All applicants will be assisted by single-window systems at the Champion Control Rooms at DICs.

Registration Process is free of cost. No applicant is required to pay any fees in any form to individuals demanding fees.

ADDITIONAL INFORMATION FOR REGISTRATION PROCESS

1. The form for registration will be as provided in the Udyam Registration portal.

2. No fee is applicable for Udyam Registration.

3. Aadhaar number is mandatory for Udyam Registration

4. The Aadhaar number must be of the proprietor, in the case of a proprietorship firm, of the managing partner in the case of a partnership firm and of a karta in the case of a Hindu Undivided Family (HUF).

5. In case of a Company or a Limited (Pvt. Ltd.), Liability Partnership (LLP) or a Cooperative Society or a Society or a Trust, the organization or its authorized signatory shall be responsible for providing details like GSTIN and PAN along with its Aadhaar number.

6. In case an enterprise is duly registered as an Udyam with PAN, lack of information for previous years, when the PAN details were unavailable shall be filled on self-declaration basis.

7. No enterprise shall file more than one Udyam Registration: Provided that any number of activities including manufacturing or service or both may be specified or added in one Udyam Registration.

8. Intentional misinterpretation or suppression of self-declared facts & figures, appearing in Udyam Registration or update process, shall be penalized as per the Section 27 of the Act.

FOR EXISTING ENTERPRISES

1. Enterprises currently active and registered under EM-II or UAM require re-registering on Udyam Portal w.e.f 1st July 2020.

2. Reclassification for all enterprises, registered till 30th June, 2020, shall be done based on the notification

3. The existing enterprises registered prior to 30th June 2020, shall hold validity up to the 31st day of December, 2021.

4. Enterprises registered with other organization(s), under the Ministry of MSME, requires registering itself under Udyam Registration soon after getting notified.

PSB Loans in 59 Minutes:

Loans up to Rs.1 Crore for MSMEs within 59 minutes through dedicated Online Portal:

www.psbloansin59minutes.com for GST registered users.

· Name

· Email Id

· Mobile No

· GST No (API Access should be initiated)

· 3 years ITR Copy

· 6 months Bank Statement

· Net worth

· Personal details (Address, contact no.)

Company Bio

PKP Consult is a leading name in the chartered accountancy sector of India. Based in New Delhi, the firm is agile in offering services related to MSME registration. Everything related to MSME registration in Delhi is performed by professionals associated with the firm.

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[epfstatus-blog]

Documents Required for EPF Registration

Following documents are required for filing employer registration & establishment registration under EPF:

Name of the employer

PAN Card of the employer

Id proof such as driving license/passport/voter-id

Address proof of registered office such as electricity bill/rent agreement (in case premise is rented)/registry(for owned premise)

In case the establishment is society, trust, LLP or company, copy of Certificate of Incorporation is needed

Partnership deed, id proof & address proof of every partner if the establishment is partnership firm

MOA & AOA if the applicant is a private or public company

Details of employees for allotment of UAN number:

• Aadhar card

• Pan card

• Bank account details such as account number & IFSC Code

• Contact number & email id

• Date of birth as per Aadhar

• Designation of employees

Out of a total 12% EPF contribution of the employer, 8.33% is deposited to the Employee pension scheme (EPS) that can be withdrawn on the retirement of an employee.

An entity can be registered up to 3authorised signatory by updating its DSC on the EPFO portal. Such DSC is required to be updated to verify the KYC documentation online & for completing the PF claim online.

Out of the total employer’s contribution of 12%, about 8.33% is converted to the Employees' Pension Scheme, where the rest amount of 3.67% is converted into the EDLI account.   The Employees’ Fund Organization or EPFO allots the UAN to the contributory members of EPFO.

[findbanknumber-blog]

Find Bank Branch IFSC Code

The important government had formerly appointed Injeti Srinivas, the previous corporate affairs secretary because the Chairman of the IFSC Authority which is the umbrella frame for GIFT City. The government is stated to be keen on pushing for extra reforms in IFSC to make it a hub for economic services.

IFSC code stands for Indian Financial System Code. It is an 11 digit identity code dedicated to a specific bank department. This code is a mixture of alphabets and numbers and is supplied to bank branches by means of RBI. The first 4 alphabetic characters represent the financial institution, the 5th person is zero, and the closing 6 characters, commonly, are numeric but can be alphabetic as properly.

All the payment tactics which include NEFT, CFMS, and RTGS require IFSC to procedure the fund transfers.

Where can you discover IFSC?

You can discover the IFSC code of your department on the first page of your passbook as well as the checkbook. You can find the IFSC code list of all bank branches at the legit website of the Reserve Bank of India.

Significance of IFS Code

While making a transaction, every person wants to make certain that his/her price range attain the meant financial institution with none problem. If budget are transferred to a incorrect bank, it triggers a spread of problems and pointless inconvenience because the transaction can’t be reversed routinely.

If one of these situation arises, you'll want to get in contact along with your financial institution and discuss what precisely befell and await a specific term before getting your cash returned. Eventually, bank helpline number you will get it returned, however simplest after losing your time.

One can switch funds to a incorrect bank/department with out even understanding so. We realize that typo is a human blunders, but a mere typo can purpose you a big inconvenience. Whether you mistakenly provide wrong account details or your financial institution is to be blamed, a incorrect transaction can take place without problems and with each person.

IFSC allows in sporting out fund switch transactions electronically via sending or routing messages to the precise branches of any unique bank. Along with that, IFSC is utilized by fund shifting systems to acknowledge both the branches concerned in a switch system.

Why is IFSC Code required?

Earlier, moving a fund became carried out traditionally. You might have had to visit the financial institution department, top off a shape, and deposit the amount inside the payee’s the account. With the appearance of the net and its huge penetration, money can be transferred on line in a few easy steps. In order to complete an online transaction, IFS code is required so that the cash is deposited to the meant account.

An IFSC caters to customers outside the jurisdiction of the home financial system. Such centres address flows of finance, economic products and services across borders. London, New York and Singapore may be counted as global financial centres. Many emerging IFSCs round the arena, consisting of Shanghai and Dubai, are intending to play a worldwide function inside the years yet to come. An professional panel headed by way of former World Bank economist Percy Mistry submitted a report on making Mumbai an worldwide financial centre in 2007. However, the bank check number global economic crisis that spread out in 2008 made international locations consisting of India cautious about swiftly opening up their monetary sectors.

Should an IFSC be positioned within an SEZ?

Since India has many regulations on the financial region, inclusive of partial capital account convertibility, high SLR (statutory liquidity ratio) requirements and overseas funding restrictions, an SEZ can serve as a testing ground for monetary area reforms earlier than they may be rolled out within the complete nation. Apart from SEZ-related incentives, as according to the SEZ Act, there's an exemption from the securities transaction tax levied beneath Section 98 of the Finance Act, 2004, in case taxable securities transactions are entered into by way of a non-resident thru an IFSC.

Why are banks taking over area in the GIFT SEZ?

Commercial banks are allowed to open offshore banking units (OBUs) within SEZs, which can be deemed as overseas branches. Such OBUs can change in foreign currencies in remote places markets and additionally with Indian banks, raise funds in overseas forex as deposits and borrowings from non-resident assets and offer loans and liability products for customers. State Bank of India set up its first OBU at Santacruz Electronics Export Processing Zone in Mumbai, in 2003.

IFSC stands for Indian Financial System Code. It is a unique alphanumeric code of 11 digits that's used for on-line fund transactions performed the use of NEFT, RTGS and IMPS offerings. Each department of all banks has a completely unique IFSC. This code is assigned by way of the RBI and can be discovered at the cheque leaf issued by using any financial institution. The RBI internet site additionally has a list of banks and their IFSC. A valid IFSC is required for initiating the various fund transfers carried out thru Net Banking. The IFSC can't be revised or changed or up to date by the bank unless there is a reorganization or merger. When SBI merged with five of its partner banks, it had to exchange the IFSC of numerous branches for the duration of the united states.

IFSC Code: Key Features

Uniquely identifies a particular financial institution branch

Eliminates mistakes within the fund transfer approaches

Facilitates all digital price services along with NEFT, RTGS and IMPS

IFSC shouldn't be stressed with MICR Code. The MICR (Magnetic Ink Character Recognition Code) is a nine-digit code that also allows become aware of a particular branch of a financial institution. However, it comes of use in the Electronic Clearing System (ECS). ECS is used to clean cheques on a ordinary foundation. The MICR code can also be observed at the cheque leaves issued through the financial institution. It is likewise imprinted on the passbook issued to the account holder.

How Does IFSC Code Work

Let us observe the example of the State Bank of India IFSC code to better recognize how the IFSC works in banking transactions. The IFSC code for the primary branch of State Bank of India at Kolkata is SBIN0000001.

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IFSC Code to Bank Converter

[auditorsandsecretaries]

GST Filing In Tambaram

GST Filing in Tambaram GST registration is a completely online process, you can apply directly on the GSTN website. All receipts are uploaded directly to GSTN and registered immediately after ordering. Let’s find out the answer in three simple steps. -This well-known company is the single point of contact for local and external customers in Chennai. During the journey, the company laid a solid foundation in its industry. The belief that customer satisfaction is as important as products and services has helped the company gain a broad customer base, and this base is growing every day.The company employs people who are committed to performing their duties and doing their best to achieve the company’s overall vision and goals. In Chennai, this facility occupies an important position in the Tambaram West area. As there are different types of transportation, it is easy to reach this place. It is located on Duraiswami Pillai Street, next to Indian Scan, so beginners can easily find the hotel. As we all know, it can provide the best services in the following categories: tax consultants, accountants, GST registered consultants.Obligation to convert the national value-added tax/consumption tax into assessment tax and service tax, or convert assessment tax into a new registration reform tax for goods and services tax Even any new business owner or assessor whose cross-billing is Rs 2 lakh, but the upper limit of the Northeast State is Rs 1 lakh. India’s leading business service platform provides a wide range of services, such as tax returns, goods and services tax filing, limited company registration, trademark registration, etc.reserve fund consultants, business registered consultants, tax consultants, GST tax consultants, ESIC consultants. Billing services over 2 million rupees (1 million rupees in northeastern and mountainous countries) must be registered in the goods and services tax. In July 2017, all indirect taxes levied by the state or central government were replaced by goods and services tax (GST). It takes approximately 5 to 10 working days to obtain a GST certificate, depending on the processing time and the submission of customer documents.Make an appointment with GSTA BASIC EXCEPT in accordance with GST law and get free advice on filling out GST and GST returns. If someone provides goods or services worth more than 20 rupees, they must go through GST registration. This is required and you must apply for GST registration within 30 days. In addition, the basic allowance of 2 million does not apply to the northeastern states, including Jammu and Kashmir (JiK), Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizlowland, Nagaland, Sikkim, Tripura, Himanchal and Uthand.GST Filing In Tambaram The first page of the account statement/bank book with the MICR code, IFSC code and account number. Consumption tax registration authorization letter. passport photo. When taxpayers wish to voluntarily cancel your GST registration.In the near future, the business aims to expand its product and service range and serve a wider customer base. Our Prime Minister Narendra Modi (Narendra Modi) approved the Goods and Services Tax Law in both parliament sessions.https://www.auditorsandsecretaries.com/gst-filing-in-tambaram/

[chhotacfoin]

Procedure For Filling Form FCTRS

FC-TRS

Which means of Form FC-TRS: The strict significance of Form FC-TRS is Foreign Currency Transfer of Shares. This structure is recorded if there should be an occurrence of move of portions of an Indian Company from an occupant to a Non-Resident/Non-Resident Indian or body corporate external India as well as the other way around through its approved vendor bank (AD Category-1 Bank)

Time Limit: The structure FC-TRS will be documented with the Authorized Dealer bank inside Sixty days of move of capital instruments or receipt/settlement of assets whichever is prior.

Stage 1: Registration under FIRMS Portal of RBI as element client and Creation of Master Data in Single Master Entity Form

Authority Letter is needed to be ready for work force approving him/her for enlisting as an Entity client for the element.

Stage 2: Registration as business client on FIRMS entryway.

Authority Letter is needed to be ready for work force approving him/her for enlisting as an Entity client for the element

Stage 3: Reporting of Form-FC-TRS

Data and Mandatory/Optional connections

1. E-mail address

Email Address of the individual approved to recorded FC-TRS

2. Phone no.

Telephone No of the individual approved to recorded FC-TRS

3. IFSC Code of the Bank office to whom the announcing would be made.

It will be AD Category-1 Bank

4. Authority letter as a connection for enrollment as business client

We will get ready subsequent to finishing marks and will transfer.

5. Consent Letter

Consent letter for move/receipt of thought appropriately endorsed by the purchaser and the merchant – We can plan assent letter for both purchaser and vender however for purchaser we will require mark of the approved individual of unfamiliar substance on the letterhead of unfamiliar element.

6. Shareholding Pattern

The shareholding example of the investee organization ("the organization, whose protections are moving starting with one individual then onto the next") previously, then after the fact the obtaining of protections by an individual inhabitant outside India. – We will get ready just shareholding subtleties of move are to be affirmed at organization's end.

7. Transfer Agreement/Valuation Certificate

Certificate demonstrating reasonable worth of protections from a Chartered Accountant.

8. Certificate from Company Secretary  

Certificate on issue of offers by an Indian organization to a Foreign Investor

9. Declaration from Buyer of Securities  

Declaration from the purchaser such that he is qualified to gain shares/necessarily and obligatorily convertible inclination shares/debentures under FDI strategy. – We will plan just mark will be needed at organization's end.

9. Non-occupant declaration:

Declaration from the non-inhabitant transferee according to the arrangement determined.

10. FDI Declaration  

Declaration from Authorized Representative of the Indian Company.

11. Board Resolution

Board Resolution of Investee Company to support and recognize the protections move.

12. Transfer Deed

Securities Transfer Deed in structure SH 4.

13. FIRC/Outward Remittance copy

FIRC/Outward settlement endorsement and KYC to be appended at the predetermined connection FIRC/KYC got from the AD Bank of transferor/transferee.

Note: Additional archives might be needed according to the comments given by RBI, assuming any.

In nutshell the interaction is as per the following:

1. Receipt of thought from non-occupant.

2. Obtain FIRC (Foreign Inward Remittance endorsement) and KYC (Know your client) of individual dwelling outside India from AD Category-I bank.

3. Submitting Security move deed and different archives needed with the organization.

4. Company registers the exchange.

5. File FC-TRS on FIRMS RBI Portal alongside the connections. (As referenced previously)

6. After accommodation of FC-TRS on RBI Portal, the particular authority will analyze and return on the situation with documenting.

[ajit777]

FUNDRAISER FOR #AJIT TO LEAVE INDIA ASAP:

I am not tagging anyone. I hope you can contribute this time. As it's very urgent. I haven't converted the currency because I am pretty sure you can do that, as per your need & convenience.

Federal Bank Ltd

Name of Account holder : Ajit Kumar Ranjan

Account Number: 99980108195863

IFSC CODE : FDRL0001769

Address: HSR LAYOUT BRANCH, BANGALORE, KARNATAKA, INDIA

Swift Code : FDRLINBBIBD

🌷🌷🌷

₹495000 + ₹3 lacs NEEDED TO LEAVE INDIA .....

ASSIST FINANCIALLY NOW & TAKE BACK JUST AFTER A YEAR.

I HOPE ITS OK.

PLEASE DM/CALL/WRITE/SIGNAL/TELEGRAM ETC...

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ONE IMPORTANT THING:

AS WE ARE COLLECTING FUNDS SO THAT AJIT COULD LEAVE INDIA.

PLEASE DO NOT SEND LESS THAN ₹1000 INR( IF YOU ARE INDIA BASED ). WHEREAS NO CAP FOR OTHER CURRENCY CONTRIBUTORS.

We won't be keeping track of that. So DON'T SEND LESS THAN ₹1000.

We understand you didn't know, but this is what it is!!

ABOVE ALL WE DON'T TAKE MONEY FROM TINY PEOPLE 🌷🌷. " NEVERTHELESS THANKFUL."

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Very badly occupied. So assist me financially now :

* ₹ 5-8 lakhs INR

* For a period of 1 year.

* Willing to return with the appropriate rate of interest added.

All contact details in bio.

Hurry!!

ICICI Bank Ltd

Name of Account holder : Ajit Kumar Ranjan

IFSC CODE : ICIC0001070

ACCOUNT NUMBER- 107001516625

Address: Gautam Buddha Nagar, Sector - 1, Noida, UP

Every Penny counts...🌷🌷

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If you want to contribute via Milaap website the link is...

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[appdevelopmentcompanyinusa]

It’s Confirm Now, WhatsApp Pay Will Hit India’s Floor This Year!

After the long grapple with the Indian government over data localization and payments data sharing with Facebook, WhatsApp pay has come up with the beta version. In 2014, Mark Zuckerberg bought WhatsApp in $19 billion and since then he has been trying to think about how to monetize this platform. 

For adding a wallet feature in WhatsApp, Facebook has created the necessary data storage facilities in India to introduce WhatsApp Pay to the entire Indian user base, which is estimated to be between 350 million and 400 million users.

Recently, WhatsApp India head Abhijit Bose revealed that “the social messaging company’s focus is to expand digital and financial inclusion, to help businesses across India”.

According to Digital Payments (2018 edition), in India, the digital payments industry is estimated to grow to $1 Tn by 2023. In this growing phase of the digital payments industry, strong players such as Paytm, PhonePe, and Google Pay, may cause a freakish rift in the entry of WhatsApp Payments.

Before discussing anything in deep, let’s talk about WhatsApp Pay.

  What is WhatsApp Pay?

WhatsApp Pay is a seamless money transfer app that works conveniently on Android and iOS smartphones. Users can leverage the app to send or request money with their friends.

Facebook has made London a key hub for the development of this Fintech solution and roughly around one hundred people hired to lead new WhatsApp payments to push according to the FT.

  Blue Prints of Digital Payment App WhatsApp Pay

The upcoming feature of WhatsApp i.e. WhatsApp Pay could follow the footprints of social networking app WeChat Pay. It is most popular China’s money transfer app with 800 million monthly active users. Initially, WeChat only offers chatting facility than it used the same platform and converted its existing users to payments users. WhatsApp will do the same in India with its ingrained user base. To best leverage its user base, WhatsApp Pay will need its P2P offerings to attract connecting users just like WeChat as P2P was the main reason behind the success of WeChat Pay.

  Existing Competitors  

With the growing internet stabbing and number of increasing mobile application, many companies have launched their wallet apps. So for WhatsApp Pay, the competition level is quite high and all the wallet apps are doing good in the market. 

Existing competitors for WhatsApp Pay are:

Google Pay

Samsung Pay

MobiKwik

Paytm

FreeCharge

PhonePe

Ola Money

  What are the Indian Government Norms for WhatsApp Pay?

Based on the Economic Times report “Indian authorities are concerned that WhatsApp‘s payment service might share user data with group companies Facebook and Instagram, compromising the security, privacy and non-commercial information of its subscribers.” 

In last year August, Facebook had to put a project on hold because of data storage concerns since than WhatsApp has been having a tough time in India for payments. The Indian government had spelled out some Indian norms that WhatsApp must adhere to including:

Complying with the Reserve Bank of India’s data localization rules

Setting up an office in India

Appoint a grievance officer and formulate a team in India

After so many discussions with the India government, Facebook had recently set up its data storage facilities in India and is reportedly preparing for the full launch of its UPI payments app in association with ICICI Bank.

WhatsApp Payments app development team has also partnered with HDFC, and Axis to launch the payment services.  

In one of the events, the Company stated that “We’re building a new payment feature for India that enables people to easily send money to each other via WhatsApp”.

 Benefits of WhatsApp Payment App:

Here are some most effective features of WhatsApp Fintech mobile app:

It allows users to send and receive payment to anyone on the WhatsApp contact list from anywhere and at any time.

Its ‘Pay’ feature allows users to send funds as simple as sending a message.

The beneficiary will receive a payment notification on their chat window once the fund transfer has been made.

There is no need to enter the IFSC code while transferring money. 

User can send money via virtual address.

  Limitations

There are some issues around two-factor authentication during the time of the transaction. WhatsApp can share data with Facebook in the wake of recent data breach issues of the social media major with the UK-based political consulting firm Cambridge Analytica. 

  Summing up

As the digital payment market is increasing day by day with a rapid pace, we can assume the WhatsApp’s payments feature would compete with a brimmed market in India. WhatsApp Pay will successfully attract the WhatsApp users and will most probably can threaten Paytm’s which is the top player of this industry.

WhatsApp Pay would skyrocket the digital payment market value and can open the new doors for the financial app development companies.