Real Estate Investments

If you are planning for Real estate Investments consider following points like Land Price, Bank Loans, Ownership of the property etc., If you own any house, Villa etc., you have a option for secondary income but few things you have to consider before investing.

Real Estate Investment is Risky?

Any business / Investment will defiantly have risk factor, where risk is more chance of getting more return is high. Most of the case land value will never go down so your money is safe.

Next thing before Investing in real estate make sure to whom you are dealing with? He owns the particular land if you are investing through Real estate agents still you can get the details of the owner of the land or building.

Time for Investment

It is good when Real estate price is less and banks providing less interest, both will happen on same time. Its better you can invest when you get a cheaper price for the land or building.

Location

You have to look for a right location, if you have idea to rent your propriety its better to choose a right location may be the land / building price will be more but when in comes to return it always on the higher side. So choosing the right place is very important for Real estate investment.

Conclusion

Anybody can invest in Real Estate but before investing you have to spend some time on investing about the propriety. Lot of things are involved in buying propriety so you need to understand the things before investing. Especially people from Mumbai, Bangalore, Chennai are investing more on Real Estates.

4 Important Features of Indian Bonus Payment Act – 1965

Every employee should know what is Bonus Payment act 1965, India is developing country and has many industries especially cities like Gurgaon, Noida, Mumbai, New Delhi, Chennai, Indore, Bangalore has more factories with more working power. Bonus is paid to employees from their profit or based on employee’s production to motivate employee financially.  

1)      W hat is the Payment of Bonus Act 1965?

Indian Bonus Payment Act “has been enacted to provide & regulated the payment of bonus to employees in certain specified establishment either on the basis of profit or on the basis of productivity of the establishment”. A reward for good work or share of profit of the unit the employee is working.

2)      Applicability :

Payment of bonus Act, 1965 extends to whole India

It applies to every factory and to every other establishment in which 20 or more persons are employed on any day during an accounting year

And any factory employing 10 or more persons where any processing is carried out with aid of power

Payment of Bonus act is applicable on every employee whether doing any skilled, unskilled, manual, supervisor, administrator, technical or clerical work for hire or reward and the whether the terms of employment are expressed or implied

Other establishments (established for purpose of profit) employing 20 or more persons. This act is not applicable for Government employees, the employee of municipal corporation or municipality, Railway employee, University and employees of educational Institutions, public sector insurance employees of RBI and public sector finical Institutions, Charitable hospitals, social welfare organisations, non profit oriented organizations and defence employees.

3)      Eligibility for employees

Working for minimum 30 days in accounting year

Employees drawing less than 10,000 salary pm

4)      Bonus Calculation

Bonus percentage range from 8.33 to 20

Time limit to release bonus is 8 months from closure of accounting period.

Salary ceiling for bonus is 10,000 but in calculation it will be taken as rupees 3500 or actual whichever is less.

And calculation of bonus by using LTA Formula:

Calculate the gross profit (according to Sec 4 of IT act)

Calculate the available surplus. Equal to gross profit less prior charges allowable as deduction under section 6 plus amount equal to IT on bonus portion calculated as per provision (b) to section 5.

Calculate allocable surplus

Allocable surplus = 60% of available surplus, 67% in case of foreign companies.

Make adjustments for Set on and Set off.

10 Ways to identify fake currencies

Indian government taking so many steps to reduce or stop fake notes, still fake currencies exist, if you want to identify fake currencies. Please 10 points will be more helpful when you’re handling currencies on daily basis. According to Indian Penal code act Printing and circulating of forged notes are offences under section 489A to 489E and are punishable in the courts of law by fine or imprisonment or both.

1)      Fake currency detector

There fake currency detector machines available in the market, which will easily identify the fake currencies.

2)      Watermark

Mahatma Gandhi serious of banknotes contain the Mahatma Gandhi watermark with light and shade effects.

3)      Security Thread

Almost all the currencies will have security thread

4)      Latent Image

On the obverse side of Rs.1000, Rs.500, Rs.100, Rs.50 and Rs.20 notes, a vertical band on the right side of the Mahatma Gandhi’s portrait contains a latent image showing the respective denominational value in numeral. The latent image is visible only when the note is held horizontally at eye level.

5)      Micro lettering

On the obverse side of Rs.1000, Rs.500, Rs.100, Rs.50 and Rs.20 notes, a vertical band on the right side of the Mahatma Gandhi’s portrait contains a latent image showing the respective denominational value in numeral. The latent image is visible only when the note is held horizontally at eye level.

6)      Intaglio Printing

 On the obverse side of Rs.1000, Rs.500, Rs.100, Rs.50 and Rs.20 notes, a vertical band on the right side of the Mahatma Gandhi’s portrait contains a latent image showing the respective denominational value in numeral. The latent image is visible only when the note is held horizontally at eye level.

7)      Identification Mark

On the obverse side of Rs.1000, Rs.500, Rs.100, Rs.50 and Rs.20 notes, a vertical band on the right side of the Mahatma Gandhi’s portrait contains a latent image showing the respective denominational value in numeral. The latent image is visible only when the note is held horizontally at eye level.

8)      Fluorescence

Number panels of the currencies are printed in fluorescence ink; you can also see the optical fibres when you expose the currencies into ultra-violet light.

9)      Optically variable ink

This is the new future introduced in November 2000 & its new security features introduced in Rs.1000 & Rs.500. The colour of the numeral 1000 &500 appears green when the note is held flat but would change to blue when the note is held at an angle.

10)   See Through Register

The small floral design printed both on the front (hollow) and back (filled up) of the note in the middle of the vertical band next to the Watermark has an accurate back to back registration. The design will appear as one floral design when seen against the light.

Today’s Gold and Silver Rate

Ten Gram Gold rate – 30,050

One KG Silver Rate – 44,800

What is Bitcoin & How to get Bitcoin?

What is Bitcoin?

Bitcoin is a Virtual currency and it’s a Peer-to-peer system, it’s an open source and no one control especially it was not controlled by any government, bank, and not regulated by any government agencies.

How it works

According to Bitcoin it is like email. You can transfer or receive digital money. Once receiver confirms the transaction it will be moved to public ledger.

How to get Bitcoin?

You have to create a bitcoin wallet; bitcoin wallet is a programme in which you can make transactions. Its free of cost you can create it for free of cost. Once you created your bitcoin wallet login you need to have bitcoin address, this is very important for receive payment. Once you got the address you have to open blockchain.info and mentioned your address. Now you can buy Bitcoin.

Bitcoin is penetrating into all developing nations as well, but governments and financial agencies are not in position to regulate or completely ban the Bitcoin. We have wait and see how governments will regulate bitcoin.

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6 Important Features of Employee State Insurance Act – ESIC – 1948

ESIC will provide certain benefits to employee in case of sickness, maternity and employment injury and to make provisions for related matters.
It is applicable when your company having more than 10 employees and the eligibility criteria will be as follows.

Employees who is getting less than 15k gross salary

Covers dependents of insured persons

Employees have to contribute for ESIC? How much employee has to contribute for ESIC?

Yes, Employee has to contribute 1.75% on his gross salary even employer has to contribute 4.75% of employee gross. Again this fee has to be submitted before 21st of every month.

 Important Features

Medical Benefits – Following are free if you undergoing any Consultation, Medicines, Lab test, special aids etc.,

Sickness Benefits – Extended sickness benefits up to 2 years for long term disease of 3 years, Enhanced Sickness Benefits up to 7 days & 14 days

Maternity Benefits – Its applicable for lady employee or wife of insured employee. Benefits will be available for a period of 12 weeks and hospitalization charges.

Disablement benefits – In case of employment injury or occupational disease, Temporary disablement benefits, Permanent disablement benefits.

Dependants’ benefits – In case of death of an employee because of employment injury or occupational disease.

Funeral expenses – Up to rupees 10,000 

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5 important features of Gratuity & Gratuity Calculation?

When you are getting your final settlement from your organisation or company you will get some additional money from your company as Gratuity. Yes most of us not know much about gratuity and its calculations. So here we have a solution for that.

Basic Information about Gratuity

It’s purely a retirement benefit for an employee; it will definitely help the employee after retirement. When Gratuity is payable to an employee and when you are entitled receive the benefit? At the time of retirement, also when an employee completing 5 years of continuous services.

Note: here one year of continues services means 240/190 working days (above the ground / below the ground) in a year. Under section 10(10) of income tax act.

Important Features:

1)    It is payable a person on

·         Resignation

·         Termination on account of death or disablement due to accident or disease

·          Retirement

·         Death

2)    To all Government & Private companies employing / were employed 10 or more persons on any day in preceding 12 months and to all employees – workers as well as persons employed in administrative and managerial capacity.

3)    Gratuity is payable only after employee completes five years of continuous services. In case of death and disablement, the condition of minimum 5 years is not applicable.

4)    Gratuity is payable at 15 days wages every year of completed services in 5 years, if the employee has completed more than 6 months, it will be treated as full year for gratuity purpose.

5)    In case of seasonal establishment, gratuity is payable at 7 days wages for each seasons.

Gratuity calculation:

{(Basic + all DA)/26}* no of years*15

 

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