If you want to read how I landed up on this forum, then read on... If you want to read only the CRUX of the PEO application then skip the paragraph in between "********************************************" .
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I was not a member of any of the immigration forums until today... However I reaped umpteen benefits from several forums when ever i wanted to find out information regarding the immigration and its nuances.
I used to think, Oh! Common I am pretty Intelligent and Highly Skilled

How many days can i be outside UK? what will break my continuity of stay in the UK? BLAH BLAH BLAH....
A MAJOR THANKS TO ALL THE SELFLESS PEOPLE ON THE FORUM WHO WROTE SO MUCH AMAZING STUFF WHICH HELPS MANY OF US DAY IN AND DAY OUT !!!
Having got the ILR, I feel it as a responsibility to write as much as possible so that people like me can benefit irrespective of them asking a question on the forum or not.
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20th June 2014 : Croydon:
1) Took the Southwest train from basingstoke to west croydon via clapham. I would recommend people to take the train to west croydon if they can, Travel cannot be smoother than this. Lunar house is just 2 minutes walk away from the west croydon station.
2) The moment you are out of the station turn left, you will see Maplin store (DO NOT TAKE THIS LEFT), go a little further ahead and then take a left turn. just at the end of this road you will be able to see LUNAR HOUSE.
3) Try to reach 30 minutes before the actual appointment to undergo security checks and later proceed to the 3rd floor (premium service).
4) You will be asked to show the payment notification letter and appointment letter , keep them handy. You will get these while you book the PEO Premium service online via UKBA website. https://apply.ukba.homeoffice.gov.uk/iapply.portal
5) you will be given a token at the counter and then you will be waiting for your turn to register your application with one of the case workers.
6) Then you will be asked to go for Biometric , where you will be signing a document and submitting your finger prints on the scanners.
7) Now its your turn to go and chillax in the cafeteria and wait for your token number to be either seen on the screen or called by the UKBA Associates.

**** DON'T WORRY THIS IS IN FACT A BOON AND NOT A BANE******
9) I just went to counter and said I am not being called while others who came after me have been called already, they said its a machine glitch and they need to register my application manually.
10) I asked if my application will be lost?????? they said its kinda normal their machines have some faults ( I SAID USE OUR ENTERPRISE SOFTWARE ... SNEAKED A SALES PITCH THERE LOLZ..)
11) They took me to the case worker who registered my application and then straight away i was taken to Biometric booth.
12) I then submitted all the documents and gave the finger prints.
13) Now the waiting game in the cafeteria till you hear someone calling your number (or in normal case seeing your token number on the screen).
Documents Provided :
A) 2 photographs
B) 12 months payslip ( Original)
C) 12 months bank statments (Original) - Previously during tier 1 general extension i submitted online statements with bank stamps which i requested at the local branch of my bank. ( This is no problem so don't worry if you don't have original bank statements).
D) Life in the UK pass letter
E) Degree taught in English ( I am from India and my degree is recognised by UKNARIC via the point based system calculator)
F) PBS Calculator printout showing the degree is recognised by UKNARIC.(if your degree is not recognised by UKNARIC then get a letter from UKNARIC for degree comparison. Again don't worry its simple!!!
G) SET(O) application duly filled with black Ink.
H) Absence letter from previous and current organisation as i was out on business for 160 days, and annual leave constituted around 130, altogether 290 days out of UK in the 5 years, Not an issue at all, therefore don't worry a bit here.
I) I did not give any cover letter as it is not required, if your case is straight forward you have nothing to declare and try to act over smart and impress the case workers, they will not even care, they will have there own checklist and if your documents meet their criteria then its a straight YES.
******* NOTHING ELSE IS REQUIRED**************
Its a straight forward process and you will get a straight forward result which is ofcourse an APPROVAL !!! So don't worry just have a coffee and relax in the cafeteria and by the time you finish it you will be called and handed your approval letter.
Your card will reach you in next 7 working days at the latest.
Have fun guys, its 11:35 at night and I wanted to compile this post before 12:00 AM. Any queries i will be happy to help with my limited knowledge.
Thanks to one and all for the selfless approach and helping others, it does mean a lot to all of us.... keep posting and keep rocking...
and finally keep getting your ILR's.
Cheerio ... adios amigos !!
Zia.....