NI Act_Practicle Problems_54

State whether a holder can refuse to take the following acceptance or not:

a. Accepted payable when in funds.

b. Accepted payable when a cargo consigned to me is sold.

c. A bill drawn for Rs 5,000 but accepted for the 4,000 only.

d. Accepted payable at Delhi when no place of payment is specified in the order.

e. Accepted payable at Delhi only when no place of payment is specified in the order.

f. Accepted payable at Delhi when place of payment specified in the order was Bombay.

g. A bill drawn payable three months after date but accepted payable two months after date.

h. A bill drawn on X, Y, and Z (who are not partners) but accepted by X only.A bill drawn on X, Y and Z (who are partners) but accepted by X.

NI Act_Practicle Problems_53

Find out date of maturity in the following cases under NI Act :

a. A bill dated 1st January 1993 is made payable four months after date.

b. A bill, dated 30th January 1993, is made payable one month after date.

c. A bill, dated 31st July, 1993, is made payable two months after date.

d. A bill dated 1st January 1993 is payable 60 days after date.

e. A bill is payable on 28th February 1993.

f. A bill is payable thirty days after sight is presented for sight on 1st March, 1993.

g. A bill, dated 15 January, 1993, is payable three months after date.

Provident Fund Act_Practicle Problems_19

What points and matters should be kept in mind by member while sending application to Employees' Provident Fund organization ?

Instructions for a member while sending application to Employees' Provident Fund Organization:

1. Use the appropriate form for claiming Provident Fund Pension, withdrawal benefit/scheme certificate, Employees' Deposit Linked Insurance benefit, etc. as given below :-
Form-19 : To claim final settlement of Provident Fund by a member.

Form-20 : To claim Provident Fund by nominee/legal heir on death of the member.

Form-10-D : To claim pension. (In duplicate : If within state, In triplicate : If outside state.)

Form-10-C : To claim withdrawal benefit/scheme certificate under Employees' Pension Scheme '95.

Form-5IF : To claim assurance benefit under Employees' Deposit Linked Insurance '76 by nominee/legal heir of a member.

Form-31 : To claim temporary withdrawal/advance under Employees' Provident Fund scheme'52.

Form-13 : To effect transfer of Provident Fund/Pension from one A/C to another.

2. Ensure that all columns of the application are filled completely.

3. Information in the application form relating to name, a/c no. should agree with the detailsavailable with Employees' Provident Fund Organization; which were furnished by the employer at the time of enrolling to Provident Fund.

4. Application should be signed by the member/claimant.

5. It should be attested by the former employer. In case attestation by the former employer is not possible, it should be got attested by any other authorized official specified with application form.

6. Application for final settlement can be sent by a member on completion of 2 months from the date of leaving service, if the reason for leaving service is other than superannuation, medical ground, retrenchment and V.R.S./ Female members getting married etc.

7. Desired mode of payment can be given legibly, if the amount involved is more than Rs. 2000/-. The amount will sent by deposit in payees' bank a/c. To facilitate this, Bank a/c no., name and address of the bank should be furnished. An advance stamped receipt should also accompany this application. Application may be supported by the return Form-10, showing the details of leaving service and details of contribution for the year in Form-3A, if not sent earlier by the employer.

pearl

Jenny was a bright-eyed, pretty five-year-old girl.One day when she and her mother were checking out at the grocery store, Jenny saw a plastic pearl necklace priced at $2.50. How she wanted that necklace and when she asked her mother if she would buy it for her, her mother said, "Well, it is a pretty necklace, but it costs an awful lot of money. I'll tell you what. I'll buy you the necklace, and when we get home we can make up a list of chores that you can do to pay for the necklace. And don't forget that for your birthday Grandma just might give you a whole dollar bill, too. Okay?"
Jenny agreed, and her mother bought the pearl necklace for her. Jenny worked on her chores very hard every day, and sure enough, her Grandma gave her a brand new dollar bill for her birthday. Soon Jenny had paid off the pearls.How Jenny loved those pearls. She wore them everywhere to kindergarten, bed, and when she went out with her mother to run errands. The only time she didn't wear them was in the shower - her mother had told her that they would turn her neck green. Now Jenny had a very loving daddy. When Jenny went to bed, he would get up from his favorite chair every night and read Jenny her favorite story. One night when he finished the story, he said, "Jenny, do you love me?""Oh yes, Daddy, you know I love you," the little girl said."Well, then, give me your pearls.""Oh! Daddy, not my pearls!" Jenny said. "But you can have Rosie, my favorite doll. Remember her? You gave her to me last year for my birthday. And you can have her tea party outfit, too. Okay?""Oh no, darling, that's okay." Her father brushed her cheek with a kiss. "Good night, little one." A week later, her father once again asked Jenny after her story, "Do you love me?""Oh yes, Daddy, you know I love you.""Well, then, give me your pearls.""Oh, Daddy, not my pearls! But you can have Ribbons, my toy horse. Do you remember her? She's my favorite. Her hair is so soft, and you can play with it and braid it and everything. You can have Ribbons if you want her, Daddy," the little girl said to her father."No, that's okay," her father said and brushed her cheek again with a kiss. "God bless you, little one. Sweet dreams."Several days later, when Jenny's father came in to read her a story, Jenny was sitting on her bed and her lip was trembling. "Here, Daddy," she said, and held out her hand. She opened it and her beloved pearl necklace was inside. She let it slip into her father's hand. With one hand her father held the plastic pearls and with the other he pulled out of his pocket a blue velvet box.Inside of the box were real, genuine, beautiful pearls.He had them all along. He was waiting for Jenny to give up the cheap stuff so he could give her the real thing. So it is with our Heavenly Father. He is waiting for us to give up the cheap things in our lives so that he can give us beautiful treasure. Isn't God good?Are you holding onto things which God wants you to let go of?Are you holding onto harmful or unnecessary partners, relationships, habits and activities which you have become so attached to that it seems impossible to let go?Sometimes it is so hard to see what is in the other hand but do believe this one thing.................God will never take away something without giving you something better in its place.

positive thinking

Once there was loving couple travelling in a bus in a mountainous area. They decided to get down at some place. After the couple got down at some place the bus moved on. As the bus moved on, a huge rock fell on the bus from the mountain and crushed the bus to crumbs. Everybody onboard was killed.



The couple upon seeing that, said, "We wish we were on that bus" Why do you think they said that? If they had remained on the bus instead of deciding to get down, the resulting time delay could have been avoided and the rock would havefallen after the bus had passed ...!!!


Think positive in life always and look for opportunities when u can help others

Never lie to woman

A man called home to his wife and said, "Honey I have been asked to go fishing up in Canada with my boss & several of his Friends.

We'll be gone for a week. This is a good opportunity for me to get that Promotion I'v been wanting, so could you please pack enough Clothes for a week and set out my rod and fishing box, we're Leaving From the office & I will swing by the house to pick my things up" "Oh! Please pack my new blue silk pajamas."

The wife thinks this sounds a bit fishy but being the good wife she is, did exactly what her husband asked. The following Weekend he came home a little tired but otherwise looking good.
The wife welcomed him home and asked if he caught many fish?
He said, "Yes! Lots of Salmon, some Bluegill, and a few Swordfish. But why didn't you pack my new blue silk pajamas like I asked you to Do?"

You'll love the answer...
The wife replied, "I did. They're in your fishing box....."

Provident Fund Act_Practicle Problems_18

What is the voluntary rate of Provident Fund contribution by the member?

As per the Act, the member has to contribute at the rate of 10% or 12% of his basic pay, D.A. & retaining allowance if any. In case the member wants to contribute more than this, voluntarily he can do so at any rate he desires. i.e. upto 100% of basic and D.A. But the employer is not bound to contribute at the enhanced rate.