3.24 Process the Fund CPMF

This topic provides the instructions to invoke fund CPMF screen details.

The CPMF tax is deducted by the some banks and the money is transferred from current/savings account to the investment account.

For a few selected investment products such as funds or term deposits the bank could decide to return a part of the CPMF tax that has been deducted as an incentive for having invested. This is referred to as CPMF Bonus.

  1. On Home screen, type UTDFCPMF in the text box and click Next.
    The Fund CPMF Detail screen is displayed.

    Figure 3-32 Fund CPMF Detail


    Description of Figure 3-32 follows
    Description of "Figure 3-32 Fund CPMF Detail"

  2. Select New from the Actions menu in the Application tool bar or click New icon to enter the details of CPMF preferences for the fund.
  3. On Fund CPMF Detail screen, specify the fields.

    For more information on fields in the screen, refer the below table.

    Table 3-45 Fund CPMF Detail

    Field Description
    Fund ID Alphanumeric; 6 Characters; Mandatory

    Select the ID for the fund for which the CPMF rule is applicable.
    CPMF Bonus Applicable Optional

    Select Yes from the drop-down list if the CPMF bonus is applicable to investment made in this fund.

    Lag for CPMF Bonus Credit Numeric; 4 Characters; Optional

    If Lag basis is transaction date or trigger based, lag will not be captured. If Lag basis is user defined, then the 'Lag for CPMF Bonus Credit' will be captured.
    IRRF Load for CPMF Alphanumeric; 5 Characters; Optional

    Indicate the IRRF load to be applied to the CPMF bonus, in which case the net amount will be credited to the investor after taking into consideration the tax amount.

    CPMF Bonus Type Optional

    Select the type of CPMF Bonus, the options being:

    • Defined during Application
    • Fixed

    If the type selected is fixed then no changes can be made to the bonus at the transaction level.

    Load Description Display

    The system displays the description for the selected IRRF Load ID For CPMF.

    Default CPMF Bonus Percentage Value Numeric; 30 Characters; Optional

    Specify the default percentage value of the CPMF bonus. In case the CPMF bonus type is fixed, this value will be the value used and it can not be changed.
    Minimum Transaction Amount Numeric; 30 Characters; Optional

    Specify the minimum amount that is required to be available for the CPMF bonus to be considered, in case the application amount is less than the amount specified here the bonus will not be calculated.

    Note: The minimum transaction amount should be specified in the fund base currency.

    Fund Identification Number Display

    The system displays the description for the selected Fund ID. However, you can amend this value.

    Lag Basis Optional

    Select the lag basis from the drop down provided, the options being;

    • Transaction Date: In this case the CPMF bonus will be credited on the transaction date as an EOD activity.
    • User Defined: User Defined –In this case lag is specified in Fund CPMF preference which will be defaulted in transaction screen. This can be changed at transaction level.
    • Trigger Based: In this case CPMF bonus is credited on the day of uploading basis amount for that transaction.
    Credit Bonus on Outflow Optional

    Select Yes from drop-down list to ensure that the CPMF credit takes place even if the subscribed units have been redeemed partially or fully.

    Account Types Alphanumeric; 25 Characters; Optional

    Select the Account Types from the list of available account types for which the CPMF bonus will be applicable.

    Account Types Description Display

    The system displays the description for the selected availableAccount Type.

Parent topic: Other Fund Activities