Knowledge is power. Comprehensive information about our business has been given here in a simple question and answer format to educate the agents and give them complete knowledge which will make them ready to handle any objections with confidence.
The "Frequently Asked Questions" (FAQ) given below are the most commonly asked questions which agents might have to answer when they contact new prospective customers
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FIVE GOLDEN RULES:-
1. Learn the complete business plan correctly
2. Attend training workshops regularly
3. Know all the FAQs on our blog by heart
4. Follow the guidance of your leader. Do not allow your ego to control you.
5. Remember you are working for yourself.
If an agent follows these 5 rules given above, it will help him to grow as a Leader.
Every agent Must and Should become a Leader and help his team to achieve success in business.
"Success" means achievement, confidence, prosperity, happiness, lots of money, higher standard of living, more positive attitude and outlook in life and many many more things.
SUCCESS IS THE ULTIMATE.
Let us all become CROREPATIS.
Everyday new questions and answers will be added here. So, please visit this page at least once daily.
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FREQUENTLY ASKED QUESTIONS:
*WHAT IS SPECIAL ABOUT SREEKARAYIL?
1. The company is completely legal.
2. It is a Public ltd company. This means closing formalities are as difficult as setting up. Too many govt procedures have to be followed.
3. The company assets as well as directors assets are all listed with the govt and can be seized the minute the company does any fraudulent activity.
4. The company is registered and recognized by both Central and State govt and is answerable to both.
5. The company is following 1982 Central chit fund act and RBI guidelines. Thus there are many strict rules and sudden audits which the company has to face.
6. Every chit is registered in the company. License or permit is obtained from Registrar of chits for each and every chit.
7. Members have an option to pay chit installments from working commission in case they are unable to pay from their pocket every week
8. The company will not demand chit payment every week.
9. No hassles of finding surity from outside.
10. Chit can be cancelled at any point in time; yet earnings will continue
11. As an agent you do not have to do any heavy work; yet lifelong financial security is possible.
12. Agents need not collect cash from the customers and are thus not responsible for customers's money.
13. Agents are required to work only in Aim 1 and can get lifelong non working passive income because they get Lifetime Ids.
14. Your id is transferable to nominee. So he can continue working in the same seniority or enjoy passive income all his life.
15. Enrollment charges are extremely low.
16. You are paying only 2 chit installments from hand; rest from your working commission. So your money is not at risk
17. There are no cash transactions in the company. So cheating is not possible.
18. Automatic saving plus earning both happen simultaneously.
19. We have a union for All India agents to safeguard our interests.
20. Seniors are very supportive and give a lot of support and service.
21. Good training is provided freely.
22. Commission payouts are given on time regularly every week without delays.
23. No targets to be completed.
24. No time limits within which to complete your tasks.
25. No product to be sold or repurchased.
26. You can work from any part of India.
27. No special skills/expertise required to join this company.
28. No great educational qualifications required.
29. No experience required.
30. Wonderful future security.
32. Excellent and strong business plan.
33. Absolute transparency in the company.
34. Your task is to recruit just 2 agents; not hundreds of people. Every person in the team shares the work as well as the income.
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*WHAT IS PSO?
Every chit is registered in the company. Prior Sanction Order (PSO) is the license or permit our company obtains from Registrar of chits for each and every chit.
The company has to keep an amount equal to the chit value as security deposit in a nationalized bank and hand over the bond to the Registrar while applying for PSO.
Members application forms are filed in the Registrar office.
Every chit auction is informed to the Registrar along with cheque no.
If surity is not produced by the member after auction, the amount is deposited in the bank and information is given to Registrar. But cheque is written out and kept ready; the Registrar will be informed that Cheque no. so and so is pending since the member has not produced surity.
The company cannot take back the security deposit amount till the chit period is completed successfully
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*WHY HAS THE COMPANY MIXED A NETWORKING SYSTEM WITH CHIT?
The company got converted from private ltd to public ltd. A decision was taken to expand business. For this the company had to reach out to all parts of the country. Advertising through media is an expensive option. So advertising through word of mouth was preferred because people only believe information given by their own friends or relatives. Therefore agents were given the task of canvassing for the chit. A plan was put into place wherein agents could pay chit installments regularly from their working commission. When the chits run properly, the company can get foreman commission from each member which is the company profit. This profit was shared with the agents in the form of Commissions and incentives. Thus the hassles involving collection of installments were also nullified. Agents were happy since they were promised weekly earnings with minimal work along with savings.
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*DOES THE CHIT FUND ACT APPROVE NETWORKING SYSTEM IN A CHIT COMPANY?
The Earning plan of the company does not require approval by the Govt.
For example: If you are a salaried person or you have your own business, what you do with your salary or profits is your own decision because it is your own money. As long as you pay your tax, the govt. cannot question you.
Similarly, foreman commission is the profit earned by the company. Other amounts that belong to the company are the (a) 200rs enrollment fees (b) 50rs service charge collected from every weekly payout (c) 200rs postal & stationary collected at the time of refunding your lapsed/cancelled chit amount.
This amount is used for paying agents commissions, incentives, bills, admin salaries, office rent etc.
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*WHAT ARE THE LEGAL DETAILS OF THE COMPANY?
Company profile and legalities:-
A. The name of our company is Sreekarayil Chits (India) Ltd.
B. Our website : www.sreekarayilchits.biz
C. Our respected founder and Chairman Managing Director is Sri Rajan Karayil.
D. Sri Rajan Karayil has 42 years of experience in running chits.
E. Sri Rajan Karayil is a registered member of All Kerala Chitty Foremen's association and govt. approved foreman of our company.
F. Earlier our company was a private limited company.
G. Our company was converted into a public limited company on 31st December 2012.
H. The company's Registered office is in Tirupur (Tamilnadu)
I. Our administrative office is in Kodungallur (Thrissur district, Kerala)
J. We have a total of 11 functioning branches across 5 states all over India. (3 in Tamilnadu, 3 in Karnataka, 1 in Telangana, 1 in Maharashtra, 3 in Kerala)
K. Our company is registered with Central Ministry of Corporate Affairs.
L. We are governed by Central Chit Fund Act of 1982 which is based on RBI guidelines.
M. We are following different State Chit Fund regulatory rules.
N. Registrars of chits are our controlling authorities. We are registering our chits and obtaining Prior Sanction Orders (license/permit) from them.
O. Both TDS and GST are applicable to our business.
P. All India Agents Union of SKCIL was registered on 30th May 2018.
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