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GOVERNMENT
ACCOUNTS
An
Outline of Government Business Department
(Also
view in Hindi) |
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Government
Business Department was created in July
2005 as an independent department at
Head Office for providing marketing,
educational and technological support to
operational functionaries with a view to
improve upon market share in Govt.
Business.
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The Bank was
authorized, for the first time, for
collection of C/Excise duties and
Service Tax through 25 branches in
Chandigarh Commissionerate and 15
branches in Rohtak Commissionerate,
spread over Chandigarh, Patiala, Haryana
and Delhi Zonal Offices. The EASIEST
project was launched in the Bank w.e.f.
01.10.2006 and for State Govt.
receipt/payment business at 97 branches
for collecting 10% VAT as Municipal Fund
for the state of Punjab, Haryana and
Himachal Pradesh(58 Punjab30 Haryana.9
HP) was secured.
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EASIEST
project was launched at 40 branches
collecting CBEC revenue w.e.f.
01.10.2006.
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VAT
collection business on behalf of Punjab
Govt. is being conducted at 58 branches
conducting GB for State Govt.
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The Government
Business Department (GBD) oversees the
handling of government business undertaken
by our branches as sub-agent of Reserve Bank
of India. It is a co-ordinating agency
between the branches dealing in Central /
State Government transactions and Reserve
Bank of India, CAS, Nagpur, on the one hand
and Accounting Authorities of Department of
Central / State Government on the other.
All authorised dealing/receiving branches
report their state/Central Government
transactions on a daily basis to their
respective focal/nodal/link branches by way
of electronic strings / FAX who consolidate
and report to link office Nagpur The main
function of Link office Nagpur is to settle
Central Government transactions reported by
nodal/focal/link branches with RBI, CAS,
Nagpur.
Central Government transactions
All Central Government transactions are
under Focal Point /Link Branch system. Under
the Focal Point system, the branches dealing
in Government transactions report their
transactions to the respective Focal Point
Branches. Focal Point Branches have been
identified at a centre where Pay & Accounts
Office (PAO) of the concerned
Ministry/Department is established. All the
branches handling the transactions of a
particular PAO report their transactions to
the identified Focal Point Branch for that
PAO. These Focal
CENTRALISED PENSION PROCESSING CENTER (CPPC)
(Also
view in Hindi)
The State Bank of Patiala has centralised
the payment of pension across all CBS
Branches. This has been possible with the
creation of a Centralised Pension Processing
Cell (CPPC) at Patiala to calculate, at a
centralised level, the amount of pension
payable to all pensioners drawing their
pension from State Bank of Patiala.
The CPPC credits pension to individual
customer accounts through Link/Focal Point
Branches/Branches through ftp. if all
formalities, and obtention of mandatory
certificates such as life certificate,
non-employment certificate are complete.
All changes in Pension payment parameters
including arrears of DA etc are also done
centrally and arrears calculated by the CPPC.
Timely and accurate payment of pension is
assured.
SIGNIFICANT BENEFITS ARE AVAILABLE TO THE
PENSIONER
All processes are automated, and the
pensioner gets timely and accurate payment
of pension within the time specified by the
Government (e.g., first date of the month
for State Govt. pensioners).
Delays on account of de-centralisation due
to delays in receipt of instructions from
the Pension Paying Authority on D.A
revision, payment and /or restoration of
commutation etc. and in calculation thereof
are now eliminated.
(FAQ) CENTRALISED PENSION PROCESSING CENTER |
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1. Can any pensioner draw his/her
pension from SBP?
Ans:
Yes, a pensioner can draw his/her
pension from a SBP branch if he/ she
is a Central/State Govt. employee or
Autonomous body which has
arrangement for pension payment with
our Bank.
2. What should a retiring person do
to draw his/her pension from a SBP
branch?
Ans:
The retiring person
should open an account with a SBP
branch and advise this account
number and branch to the concerned
Pension Sanctioning Authority for
release of his/her pension.
3. What should a retiring person,
who already draws his/ her pension
from a branch of another Bank, do to
draw pension from a SBP branch?
Ans:
The pensioner should
open an account with a convenient
SBP Branch and request his/ her
existing banker to send the pension
papers to the SBP branch through the
Govt. authorities.
4. What types of pensions are
handled by CPPC?
Ans:
All type of pensions
- Central Govt., State Govt. etc.,
which involve processing, payment
and maintenance of PPOs at branch
level are handled by CPPC. Payment
of pension in respect of specific
autonomous bodies is also handled,
where specifically agreed.
5.
Where will the Pensioner open
his/her pension account?
Ans:
The pensioner will
open his/her SB/CA account at the
branch of his/ her choice/
convenience (Home Branch) as
hitherto.
6. Which office/ branch will the
pensioner approach to complete
formalities connected with
commencement of his/her pension?
Ans:
The pensioner will
continue to complete all the pension
related formalities such as
submission of mandatory undertakings
for recovery of overpayment etc at
his/her Home Branch.
7. When will the payment of pension
commence in case of new PPOs?
Ans:
The payment of
pension, in respect of PPOs received
at Focal Point Branch up to one week
before last date of a month, will
normally commence from the same
month.
8. When will the arrears get paid?
Ans:
Payment of arrears,
on account of revision of pension
etc., received at CPPC up to one
week before last date of a month,
will normally be made along with
monthly pension.
9. When should life certificate be
submitted?
Ans:
As per Govt.
instructions, life certificate, duly
witnessed, should be submitted to
the Pension Paying Branch in
November each year.
10. What will happen if life
certificate is not submitted in the
month of November? |
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SBP e-TAX |
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SBP e-tax : Online Tax
Payment Facility |
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Welcome to SBP e-tax, an
online tax payment
facility that saves time
is convenient, hassle
free and paperless. It
is available on a 24x7
basis and enables you to
pay taxes online. Pay
Direct/Indirect taxes
through SBP e-tax and
relax. Here is the
customer-friendly
procedure: |
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For Direct Tax
payment through SBP
e-tax:
Step 1: Visit
www.onlinesbp.com
and Click on "SBP
e-tax".
Step 2: Select Direct
Taxes (OLTAS)".
Step 3: Select Challan
Type.
Step 4: Enter Challan
Details.
Step 5: Confirm Assessee
details and Select State
Bank of Patiala.
Step 6: Log onto
www.onlinesbp.co.in
with Username and
Password.
Step 7: Enter tax
details.
Step 8: Confirm payment
details.
Step 9: Print Instant
Cyber Receipt and
logout. |
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For Indirect Tax
payment through SBP
e-tax (Central Excise
and Service Tax):
Step 1: Visit
www.onlinesbp.co.in
and click "SBP e-tax".
Step 2: Select "Indirect
Taxes (CBEC)".
Step 3: Login with
Corporate Internet
Banking Username and
Password.
Step 4: Fill the
Assessee Code provided
by CBEC
Step 5: Select minor
head, fill the amount of
tax/ educationcessto be
paid
Step 6: Enter
Transaction Password &
click on Make e- cheque
Step 7: Note e-pay order
number.
Step 8: Authorizer to
log in with Username &
Password.
Step 9: Click on View
Inbox and select Txn.
you want to authorize.
Step10: Print or save
the Instant Cyber
Receipt. Two copies of
duly authenticated
Challan will be
delivered to your
doorstep. |
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Ans:
If life certificate
is not submitted in the month of
November of a year, payment of
pension for November and onwards is
not be paid to the pensioner, in
accordance with the instructions of
the Govt..
11. If life certificate is submitted
in a subsequent month, when will
pension for November and onwards get
paid?
Ans:
Once life certificate is keyed in
the Pension System, pension will get
paid within a week’s status.
12. If the pensioner has a query or
requires clarification on the amount
of pension paid, what should he/she
do?
Ans:
The pensioner should
approach the Pension Paying Branch
CPPC Patiala for resolution and
help. The Pension Paying Branch will
attend to it, with on-line help from
the CPPC.
13. If the pensioner wants details
of pension paid during a financial
year or Pension Payment Slip, whom
should he/she approach?
Ans:
These details for a year would be
provided to the Pensioner by the
Pension Paying Branch by obtaining
the details from the CPPC Patiala.
14. Where should the pensioner
submit his/her life certificate?
Ans:
The pensioner should
submit his/her life certificate at
his/her Pension Payment Branch
Branch only.
15. Where should a pensioner submit
details of investment for claiming
relief from Income Tax?
Ans:
The
pensioner should submit these
details at the Pension Paying
Branch. The certificate giving
details of Income Tax deducted from
pension will also be issued by the
Pension Paying Branch only.
16.
In
case of Family Pension, which office
should the dependants approach?
Ans:
The
Home Branch through which pension
had been paid to the pensioner will
be the contact point in the case of
Family Pension also.
17. Which
office will the customer approach
for grievance resolution?
Ans:
The pensioner’s
grievance will be resolved at the
Pension paying Branch. On-line help
from CPPC will be available to the
branch. The pensioner is not
required to approach CPPC directly.
PUBLIC PROVIDENT FUND
- 1968 (Also
view in Hindi) |
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Scheme
introduced by Central Government in 1968.
The Scheme enables the members of the public
to make contributions to the Fund and obtain
Income Tax rebate under the relevant
provisions of the Income Tax.
Eligibility
Minimum /
Maximum Investment ( w.e.f. 01-12-2011 )
Minimum Rs.500/- per annum in multiples of
Rs.5/-
Maximum Rs.1,00,000/- per annum
Duration
Rate of
Interest
8.60% per annum credited in account on 31st
March every year calculated on the minimum
balance between 5th day and end of the
month.
Loans
Loan upto 25% of balance at the end of first
financial year from third to sixth year.
Second loan can be taken on full payment of
first loan.
Rate of
Interest:
Interest @ 2%
above the PPF rate with monthly rest.
Withdrawals
Only one withdrawal allowed during any one
year from sixth year. Withdrawal limited to
50% of the balance at the credit at the end
of 4th year preceding the year in which the
amount is withdrawn or the end of the
preceding year whichever is lower.
The account extended beyond 15 years;
partial withdrawal allowed up to 60% of the
balance to the credit at the commencement of
the extended period.
Tax Benefits
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Benefit
available u/s 88 of the I.T. Act.
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Interest
totally exempt from Income Tax.
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Amount
standing to the credit is fully exempted
from Wealth Tax.
Other
Facilities
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Subscription
in one or more maximum 12 installments.
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Nomination
available in the name of one or more
persons.
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Nominee can
not continue account of the deceased
subscriber in his/ her own name.
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An account
may be transferred at the request of the
subscriber free of charge by one branch
of State Bank of India or its Associates
to Head Post Office or vice versa.
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Premature
closure of a PPF account on grounds of
genuine hardship could be considered
only after the expiry of five years from
the end of the year in which the account
was opened.
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The
subscriber may discontinue his account
anytime after joining the fund. The
repayment of the subscription with
interest will be made only after 15
years form the end of the financial year
in which the account was opened.
Discontinued
account can be revived on payment of Rs.50/-
per year along with arrears of subscription
of Rs.500/- per. |
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SENIOR CITIZENS SAVINGS SCHEME
(Also
view in Hindi)
Government of India have decided to operate
the scheme through all branches of Public
Sector Banks which are operating PPF Scheme,
1968.
Eligibility
(i) An individual who has attained the age
of 60 years and above on the date of opening
of an account.
(ii) who has attained the age of 55 years or
more but less than 60 years and who has
retired on superannuation or otherwise on
the date of opening an account.
(iii) who has retired at any time before the
commencement of these rules and attained the
age of 55 years or more on the date of
opening of an account,
(iv) The retired personnel of Defence
Services (excluding civilian Defence
employees) irrespective of the above age
limits subject to fulfillment of other
specified conditions.
NRI
NRI's are not eligible to open an account
under these rules.
HUF
Hindu Undivided Family is also not eligible
to open an account under these rules.
Salient features |
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Any
depositor may open an account at any
deposit office by making an application
in Form A alongwith the amount of
deposit in multiple of one thousand
rupees, along with age proof.
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A depositor
may operate more than one account
subject to the condition that deposits
in all accounts taken together shall not
exceed the maximum limit of Rs.15 lakh
and provided that deposits by depositors
shall be restricted to the retirement
benefits of Rupees fifteen lakh
whichever is lower.
A depositor may
open the account in individual capacity or
jointly with spouse.
Deposits and
withdrawals
There shall be only one deposit in the
account in multiple of one thousand rupees
not exceeding rupees fifteen lakhs.
No withdrawal shall be permitted under these
rules before the expiry of a period of five
years from the date of opening of an
account.
Mode of Deposit
The deposit under these rules may be made :
(a) In cash, if the amount of deposit is
less than rupees one lakhs
(b) By cheque or demand draft drawn in
favour of the depositor and endorsed in
favour of the deposit office.
Renewal
The depositor may extend the account for a
further period of three years after the
maturity period of five years. An
application in Form B should be made within
a period of one year after the date of
maturity period.
Interest on Deposit
The deposit made under these rules shall
bear interest @ 9 % p.a. from the date of
deposit payable at the end of each calendar
quarter e.g. 31st March / 30th June / 30th
September / 31st December.
Nomination
The depositor may nominate a person or
persons, at the time of opening of the
account or at any time after the opening of
the account but before its closure, by an
application on Form C accompanied by the
passbook to the Branch.
Nomination made by the depositor can be
cancelled or varied.
Closure of Account
Maturity
The deposit made at the time of opening of
account shall be paid by the concerned
deposit office after the expiry of five
years from the date of opening of the
account on production of the passbook
accompanied by a written application
(withdrawal form) Form E.
In case the depositor does not close the
account on maturity and also does not extend
the account, the account will be treated as
matured and the depositor will be entitled
to interest at the rate applicable to the
deposits under post office savings account
during the post maturity period.
Death of the depositor
In case of death of the depositor before
maturity the account shall be closed and
deposit refunded on application in Form F
along with interest to the nominee or legal
heirs in case the nominee has also expired
or nomination was not made as per rules.
If the total amount including interest
payable is upto rupees one lakh it may be
paid to the legal heirs on production of (i)
letter of indemnity (ii) an affidavit (iii)
a letter of disclaimer on affidavit (iv) a
certificate of death of the depositor on
stamped paper in the form as in Annexure to
Form F.
Premature closure of Account
On an application in Form E the depositor
may be permitted to withdraw the deposit and
close the account at any time after the
expiry of one year from the date of opening
of the account subject to the following
conditions :-
(a) In case the account is closed after the
expiry of one year but before the expiry of
two years from the date of opening of the
account, an amount equal to one and half
percent of the deposit shall be deducted and
the balance paid to the depositor.
(b) In case the account is closed on or
after the expiry of two years from the date
of opening of the account, an amount equal
to one percent of the deposit shall be
deducted and balance paid to the depositor.
Transfer of Account
A depositor may apply on Form G for transfer
of his account from one deposit office to
another in case of change of residence. |
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