Collective Investment Schemes: List of SEBI Prohibited Companies

The list of entities that SEBI has banned from raising funds under “collective investment schemes.”

The Board of the Indian Securities Exchange (SEBI) warns investors to invest in “collective investment projects” that are being banned by persons who are prohibited from doing so. The press release was published on July 29, 2015, and banned the listing of such businesses or companies.

These companies are not registered with SEBI and collect money / mobilize money without submitting SEBI offer documents. As per SEBI, appropriate measures have been taken against these companies and their executives.

What are Collective Investment Schemes (CIS)?

Furthermore, before investing in a collective investment scheme, investors are advised to bear the following cautionary checks:

  • Whether the entity is registered with SEBI
  • Whether the scheme (CIS) has filed an offer document with SEBI
  • Subscription to CIS units is permitted only with a banking channel, cash transactions are not allowed.
  • No guaranteed or guaranteed returns are permitted (at most, an indicative return can be specified in the offer document)

Listed below are the list of companies that have been approved by SEBI from 2011 to June 2015.

SEBI company

SEBI company list

SEBI company list 2014

SEBI company

SEBI company

 

How to contact SEBI and feedback on CIS?

SEBI has been able to sue for collective investment plans. If you agree to any of the above, you may contact SEBI and share your feedback.

  • SEBI Web Site – Click here
  • Choose the “Joint venture plan” option in the “Related” section and share your complaints/feedback with SEBI.

complaint registration

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Know where to quote your PAN – New Rules & Limits

Avoid using PAN card as a birth certificate – Say that the PAN is over

PAN (permanent account number) was established in early 1972 (long series format). The PAN card is very important and has a “document”. It provides the Income Tax (IT) department to link all financial transactions to a person with a department.

The PAN card should only be used when required by the Ministry of Finance and other defined rules at any time. If you use the PAN card as proof of Identity, there are likely to be a misuse of financial fraud, crime and fraud. It can be used to fulfil bench sales.

It is therefore important to know when and when the PAN number will be used.

What is the PAN Card?

PAN has a maximum of 10 digit code, issued by a card condition by the Department of Finance. PAN works to link different documents; paying individual taxes, investment information, borrowing etc.,

PAN Card

 

Financial transactions in which the quotation from PAN is compulsory

Below is a financial transaction in which your PAN is compulsory. All these new laws will be implemented from 2016.

  • As in the 2015 budgeting of the PAN, it is compulsory for each purchase or sale to exceed Rs 1 Lakh.
    • New law: This limit has already increased to Rs 2 Lakh. These deals can be in cash or card.
  • On the sale or purchase of any immovable property in Rs 5 Lakh or more.
    • New constraint: The monetary limit for PAN quotation for selling or buying immovable property increased to Rs.10 Lakh from Rs.5 lakh. Valuable property valuation of a stamp with a value exceeding Rs.10 lakh also requires PAN.

Income Tax Administration Some of the changes to the existing PAN design are presented below. Accordingly, new PAN cards will be issued with the combination of these changes. Please note that the holder of the PAN card is not required for the new PAN card.

PAN Card

 

  • QR Response Code (QR) with accurate information from the PAN applicant in the PAN card is used to validate the PAN card.
  • Myths are included in your name, father’s name, and birthday history. The position of the pan and the signature has changed
  • The position of the pan and the signature has changed.

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Link Aadhaar with UAN(EPF) using online process

How to connect your Aadhaar number to your EPF UAN online?

The Employee Promotion Fund (EPFO) has forced Aadhaar to close the Employee’s Provident Fund account. In the near future, EPFO has introduced many objects online.

Now you can check your PF account balance statement, file a claim online transmission of PF (or) to make a partial/full withdrawal of money from his account SFD online. But for all of these facilities, your Aadhaar number has been linked with UAN (Universal Account Number).

In this post, let’s talk about different options where you can link Aadhaar and EPF UAN.

How to connect EPF UAN to the KYC Portal? (Optional – 1)

The EPFO ??has recently launched this online provision to link Aadhaar to your ESPN account (UAN). You can submit your Aadhaar number to EPFO ??without signing in to your UAN membership portal.

  • Please visit the EPF portal.
  • Click ‘eKYC Portal‘ under the ‘online services’ section of the home page.

EPFO Online Link

  • You will be re-directed to the eKYC portal page. Kindly click on ‘Link UAN Aadhaar‘ option under ‘For EPFO members’ section.

Link UAN Aadhaar

  • Under ‘link, your UAN with Aadhaar’ screen, provide your current UAN number and mobile number that is linked to UAN and click on ‘Generate OTP’. Provide the OTP in ‘Confirm OTP’ field & your Aadhaar number and then click on ‘submit’ button. (The moment you provide your UAN number, the mobile number that is linked to it gets displayed.)

Link Your UAN with Aadhaar

  • After a successful OTP check and if your personal data between match UAN – Aadhaar then Aadhaar will be linked to your UAN. Your employer does not participate in this process.
  • If there are any inconsistencies (for example, your UAN name may be different from the name provided in Aadhaar), you must correct them in UAN (through your employer) or in the Aadhaar card.

Under this eKYC portal, you also have the ability to track the online status of eKYC (Aadhaar-UAN online status tracking).

  • Please visit the eKYC portal. Click on the “Tracking eKYC” link in the “EPFO Members” section.

Track eKYC

If UAN and Aadhaar are successfully connected, you will receive the following message.

UAN and Aadhaar Link

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