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Don’t let your investments die

Here is why you must let some of your nearest family member know about your investments. One of the reasons is that you’d sure like to bequeath the money to whoever you decide, just in case you are not there. The data available in public domain reveals that in India, various investments (shares, insurance, mutual funds, small savings, inoperative bank accounts, demat account) worth Rs 3 lakh crore have either been only on paper or these lie unclaimed. In most cases the deceased family was not aware of the financial investments owned by the person before his death. Something of the sort happened with Delhi-based Ganjinder Singh Parmar. He was not even out of grief after losing his father when he realized that it was almost impossible for him to inherit the properties and investment left by his father. Though his father had made a will, it took him almost a year to get probate of that will, since the properties and investment were spread across various states. Even after going through t…
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गुम हो गए कागजात तो भी मिल सकती है निवेश राशि

How to recover your forgotten stock investments

We are often advised to invest and forget. While it is a practical suggestion from a savings point of view, actually forgetting all about one's investments can result in losses too. This is where Delhi-based Share Samadhan comes in, helping with the recovery of unclaimed dividends and lost stock investments. 



Read more at:
http://economictimes.indiatimes.com/articleshow/51369222.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Over Rs 1,000 crore lying unclaimed in post offices, says Ravi Shankar Prasad

Over Rs 1,000 crore is lying unclaimed in post offices for various savings schemes run by the postal department, Parliament was informed today. 

In a written reply to Rajya Sabha, Communications and IT Minister Ravi Shankar Prasad said Rs 1,000.61 crore has been lying unclaimed in post office savings bank, which includes Rs 894.59 crore for Indira Vikas Patra, Rs 60.02 crore for 5 years National Savings certificate, Rs 24.20 crore for fixed deposit, among others. 


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http://economictimes.indiatimes.com/articleshow/47038665.cms?intenttarget=no&utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Rs 64,000 crore idle wealth lying unclaimed: Here's how you can claim it

An estimated Rs 37,300 crore is lying unclaimed with insurance companies, banks, corporate houses and the Post Office department. If you add the Rs 26,497 crore lying in inoperative provident fund accounts with the EPFO, the total wealth idling without interest adds up to nearly Rs. 64,000 crore. 

Assuming a nominal rate of 8.5%, investors are losing more than Rs. 5,400 crore in interest every year. The interest alone can buy out a mid-sized bank such as Corporation Bank, which has a .. 

Read more at:
http://economictimes.indiatimes.com/articleshow/45332770.cms?intenttarget=no&utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Insurance companies holding on to stash of unclaimed Rs 11,668 crore

Unclaimed amount of policyholders with insurance companies (both life and non-life) has reached around Rs 11,668 crore as on March 31, 2016, Parliament was informed today. 

"There are unclaimed amounts of policyholders with various insurance companies in India. The approximate unclaimed amount with insurance companies as on March 31, 2016 is Rs 11,668 crore," Minister of State for Finance Santosh Kumar Gangwar said in a written reply to the Lok Sabha. 


Read more at:
http://economictimes.indiatimes.com/articleshow/53452927.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Rs 43,000 crore lies in inoperative EPF accounts: Govt dated 9th May 2016, ET

About Rs 43,000 crore is lying in inoperative Employees' Provident Fund accounts and interest would be credited to such accounts, the government said today. 

Minister of State for Labour and Employment Bandaru Dattatreya told Lok Sabha that 118.66 lakh claims were settled by the Employees' Provident Fund Organisation (EPFO) in 2015-16, adding that 98 per cent of them were settled within 20 days. 

Read more at:
http://economictimes.indiatimes.com/articleshow/52186359.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Rs 64,000 crore and counting! Here's how you can claim your untraceable investments

Invest and forget may be a prudent suggestion from a savings perspective, but can be quite detrimental if you really forget about your investments. 

For one, a large number of elderly investors prefer to hold on to their share certificates rather than dematerialising them, which is required for trading or redeeming shares. Soon, the physical shares end up as pieces of papers that are filed and forgotten. Not all investors are forgetful: there are those who keep track of their investm .. 
Read more at: Economic Times
http://economictimes.indiatimes.com/articleshow/51323004.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Unclaimed PF

Sometime one may have following issues while transferring or withdrawing the PF money

• Mismatch of Signature of the business/Member
• Mismatch of Signature of the part
• Mismatch of Provident FundAccount number of the part
• Incorrect address given by part
• Mismatch of date of joining/resigning
• Communication from PF office while handling the solicitation would not have achieved the result
• Change in Authorized Signatory of the business when the application is in procedure

EPF (Employee Provident Fund) Withdrawal procedure
An inoperative Employee Provident Fund account is one where there has been no contribution for a period of 36 months. To reclaim money lying dormant in EPF accounts, you need to register for a Universal Account Number (UAN) One has to fill up requisite form which requires you to mention the reasons behind your PF account being rendered inoperative and the help solicited from the EPFO.One has to then then fill the details of his /her employment. This includes th…