rush45的部落格

Chit Cash in hand / Kuriesability - good schemes good in Bharat Chit money is a informal fiscal deal where by lasting number of peoples bond equally and share money, which is recognized by one character among them at a instance. The contribution and agreement are prolonged in turns until the round is realized where on earth up on the contribution equals the credence.

For example, suppose thatability 30 those bind mutually and add Rs.5, 000 /-each totalingability to Rs.1, 50,000/- which is recognized by any one among them. Subsequent period of time also, the sum membership of Rs.5, 000/- is agreed and the identical modus operandi is incessant for 30 months. The absolute ritual will be apparent after reading the following definitionsability.

Definitions Subscriber (Chittal) Subscriber is a soul who joins a tab run by the structure. All Endorser is havingability an determination figure. Foreman (Thalayal) Foreman is the personage who conductsability the chit. He is too one of the subscribersability of the chit.

Subscription Subscription is the oscillatory endeavour collectable by the friend.Eg.Rs.5,000/-

Sala (Face convenience) Sala is the absolute present collected from all the subscribersability all instance.Eg.Rs.1,50,000/- Prize Money Prize ready money is the amount for which the tab is prized or auctionedability.Eg.Rs.1, 05,000/- (see Bridge Decrease)

Auction Discount Auction Decrease = Sala - Superior Jewels which is faded by disposal car boot sale. The lessening is predetermined to a trustworthy per centum of sala say 30%.Eg.(Rs. 1,50,000/-) - (Rs.1,05,000/-) = Rs.45,000/-

Foreman's Commission It is trustworthy percentage of sala, as a rule 5% of sala. Eg.7, 500/-

Auction Dividend Auction Earnings is Car boot sale Price reduction less Foreman's Commission, which is disjointed among the pensionable Subscribersability. Eg.Rs.45, 000 - Rs.7, 500=Rs.37, 500

Net Subscription Net Subscription is Payment little Garage sale Dividend, which is to be cashed in dosh by the subscribersability all time.eg.Rs.5, 000 - Rs.1, 250 = Rs.3, 750 (37500/30=1250)

Prized Subscriber A Prized Endorser is a admirer who has auctionedability the bill or who was prized.

Non Prized Subscriber A Non Prized Admirer is a indorser who is yet to auction bridge the check or who is yet to win the reward.

Foreman's Liability Liability of the boss for acceptive the decoration money, unremarkably the primary gift investment. In the preceding example, subscription collectionsability of one time period is taken by the supervisor in need any estimate i.e Rs.1, 50,000/-. For the next month, whoever desires to get the acquiring any goes for a accident or an car boot sale to resolve the worst bidder, which should not overexert 30%. If more than one individual bids or let-up exceeds 30%, the crust is definite by pull towards you on loads. The rummage sale profits (Auction Discount smaller number Foreman's Commission) is jointly episodic among the bailable subscribersability and the harmonize net payment is collected in hard currency and the whole of specified collectionsability will be same to the quality funding due.

This requirement is continued until the rhythm is realised.

Let's transport a simpler illustration and drudgery it out in more point. Imagine thatability at hand are 10 those in a chittyability with the honcho. Ten folks join Rs.1000/- respectively month for ten months. So the sala is Rs.10, 000/- per month. Call back for the original month's payment collected works is taken by the chief minus tax write-off i.e. Rs.10, 000/-. For subsequent month, auction bridge takes plant and nearby is a extent for speech act it is 30%. So, lets say the price funding is not less than 70%. Say the terms medium of exchange is Rs.7, 000/- past first-year auction bridge decrease will be Rs.3, 000/-. Foreman's administrative body is 5% of sala so it will be Rs.5, 00/-. Now jumble sale profit will be Rs.2, 500/- (3000 - 500). Share of jumble sale net for respectively somebody will be Rs.250 (2500 / 10). So, subsequent months net subscription will be Rs.750/- (1000 - 250).

This procedure will spread plough up 10 installmentsability.

Sala = No: of Installmentsability * Payment Amount (10000 = 10 * 1000)

Auction Price reduction = Sala - Grant Money (3000 = 10000 - 7000)

Prize burial not smaller number than or synonymous to 70% (70% of sala (10000) i.e. 7000)

Foreman's administrative unit (FC) is 5% of sala. (5% of 10000 i.e. 500)

Auction Net = Car boot sale reduction - Foreman's commission (2500 = 3000 - 500)

Share of Rummage sale net profit = Rummage sale Profits / no: of divisions (persons) (250 = 2500 / 10)

Net Subscription (NS) = Subscription - Stock of Garage sale dividend

(750 = 1000 - 250)

Chit cash in hand in Asian nation are people by sundry country or inside laws, like Travancoreability Check Act of 1945, Chit Assets Act, 1982 and Tamil Nadu Tab Monetary fund Act, 1961. Union account money schemes are hunted to list near the Employee or Firms, Societiesability and Chits.