(CLICK LINK BELOW FOR DETAILS ) http://www.livemint.com/Industry/VtuKVTtxNypBzhFhA2lhiO/India-Post-pushes-ahead-with-banking-plan-despite-opposition.html
Saturday, 28 September 2013
Wednesday, 25 September 2013
ANNOUNCEMENT OF CONSTITUTION OF 7TH PAY
COMMISSION BY GOVERNMENT OF INDIA
NEW DELHI: Ahead of elections, the government on Wednesday announced constitution of the Seventh Pay Commission, which will go into the salaries, allowances and pensions of about 80 lakh of its employees and pensioners.
"Prime Minister Manmohan Singh approved the constitution of the 7th Pay Commission. Its recommendations are likely to be implemented with effect from January 1, 2016", finance minister P Chidambaram said in a statement.
The setting up of the Commission, whose recommendations will benefit about 50 lakh central government employees, including those in defence and railways, and about 30 lakh pensioners, comes ahead of the assembly elections in 5 states in November and the general elections next year.
As the Commission takes about two years to prepare its recommendations, the award of the seventh pay panel is likely to be implemented from January 1, 2016, Chidambaram said.
The Sixth Pay Commission was implemented from January 1, 2006, fifth from January 1, 1996 and fourth from January 1, 1986.
The names of the chairperson and members of the 7th Pay Commission and its terms of reference will be finalized shortly after consultation with major stakeholders, Chidambaram said.
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DEMANDS OF BHARATIYA POSTAL EMPLOYEES FEDERATION
Our Federation demands that with the constitution of 7th pay commission, Interim Relief @ Rs. 25% of basic pay ( Pay + Grade pay ) must be given by the Govt. for the intervening period of constitution of commission and implementation of the recommendations since govt. has not allowed DA Merger so far.
S.K. MISHRA
SECRETARY GENERAL BPEF
Tuesday, 24 September 2013
Enhancement of ceiling for
calculation of ex-gratia bonus
payable to Gramin Dak Sevaks
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The Union Cabinet today approved the proposal of the Department of Posts to enhance the ceiling for calculation of ex-gratia bonus payable to Gramin Dak Sevaks from Rs. 2,500/- to Rs.3,500/- same as that prescribed for the regular departmental employees. The decision would be applicable with prospective effect that is from the accounting year 2012-13 payable in 2013-14.
The increase in bonus calculation ceiling will restore the long established parity between regular departmental employees and Gramin Dak Sevaks on the issue of payment of bonus. This decision will benefit 2.63 lakh Gramin Dak Sevaks working in the Department of Posts, who play a very vital role in providing postal, financial and insurance services in the rural, hilly and tribal areas of the country.
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Friday, 20 September 2013
RELEASE OF ADDITIONAL INSTALLMENT OF DEARNESS ALLOWANCE TO CENTRAL GOVERNMENT EMPLOYEES AND DEARNESS RELIEF TO PENSIONERS, DUE FROM 1.7.2013
The Union Cabinet today approved the proposal to release an additional installment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners with effect from 01.07.2013, in cash, at the rate of 10 per cent increase over the existing rate of 80 per cent.
Hence, the Central Government employees as well as the pensioners are entitled for DA/DR at the rate of 90 per cent of the basic with effect from 01.07.2013. The increase is in accordance with the accepted formula based on the recommendations of the 6th Central Pay Commission.
The combined impact on the exchequer on account of both dearness allowance and dearness relief would be of the order of Rs. 10879.60 crore per annum and Rs. 7253.10 crore in the financial year 2013-14 ( i.e. for a period of 8 month from July, 2013 to February 2014).
Thursday, 19 September 2013
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Wednesday, 18 September 2013
MACP on Hierarchy: Supreme Court dismissed the Govt. petitions against HC Decision
Dear Brothers,
The Principal CAT [OA 904/2012 dt. 26-11-2012], Delhi and the Punjab & Haryana High Court [CWP No. 19387 of 2011 (O&M) Date of Decision: 19.10.2011] have held that MACP is to be granted on promotional hierarchy and not on next higher Grade Pay as per the 6th Pay Commission Recommendation. The SLP filed by Union of India against the P&H decision was dismissed by theSupreme Court [CC 7467/2013]. Source: http://msasoi.blogspot.com
Tuesday, 17 September 2013
Thursday, 12 September 2013
Tuesday, 10 September 2013
Saturday, 7 September 2013
Friday, 6 September 2013
Wednesday, 4 September 2013
Lok Sabha Passes Pension Fund Regulatory and Development Authority Bill, 2011 with official amendments; Subscribers Seeking Minimum Assured Returns Allowed to OPT for Investing their Funds in such Scheme Providing Minimum Assured Returns
The Pension Fund Regulatory and Development Authority Bill (PFRDA), 2011 was passed by the Lok Sabha today with official amendments. It was earlier introduced in Lok Sabha on the 24th March, 2011 to provide for a statutory regulatory body the Pension Fund Regulatory and Development Authority (PFRDA) under the provisions of the Bill. The legislation seeks to empower PFRDA to regulate the New Pension System (NPS).
The PFRDA Bill, 2011 was referred to the Standing Committee on Finance on the 29th March, 2011 for examination and report thereon. The Standing Committee on Finance gave its Report on 30th August, 2011. Some of the key amendments incorporated in the Bill based on the recommendations of the Standing Committee on Finance are as follows:
a) That the subscriber seeking minimum assured returns shall be allowed to opt for investing his funds in such scheme providing minimum assured returns as may be notified by the Authority;
b) Withdrawals will be permitted from the individual pension account subject to the conditions, such as, purpose, frequency and limits, as may be specified by the regulations;
c) The foreign investment in the pension sector at 26% or such percentage as may be approved for the Insurance Sector, whichever is higher;
d) At least one of the pension fund managers shall be from the public sector;
e) To establish a vibrant Pension Advisory Committee with representation from all major stakeholders to advise PFRDA on important matters of framing of regulations under the PFRDA Act.
Beside above, the Bill would make the Pension Fund Regulatory and Development Authority a statutory authority. Presently, it has non-statutory status. The NPS is based on the principle that ‘you save while you earn’ especially for retirement and is mainly for those who have a regular income.
This Bill would also provide subscribers a wide choice to invest their funds including for assured returns by opting for Government Bonds etc. as well as in other funds depending on their capacity to take risk.
The NPS has been made mandatory for all the Central Government employees (except armed forces) entering service with effect from 1.1.2004. Twenty six (26) States have already notified NPS for their employees. NPS has been launched for all citizens of the country including un-orgnised sector workers, on voluntary basis, with effect from 1st May, 2009.
Further, to encourage the people from the un-organised sector to voluntarily save for their retirement, the Government has launched the co-contributory pension scheme titled “Swavalamban Scheme” in the Budget of 2010-11. As on 14th August, 2013, the number of subscribers under NPS is 52.83 Lakh with a corpus of Rs.34, 965 crore.
In order to effectively invest and manage huge funds belonging to a large number of subscribers and to ensure the integrity of NPS, creation of a statutory PFRDA with well defined powers, duties and responsibilities is considered absolutely necessary and would benefit all NPS subscribers.
The PFRDA Bill authorizes the PFRDA to establish a Pension Advisory Committee by notification under Clause 44 of the PFRDA Bill, 2011. The object of the Pension Advisory Committee shall be to advise the Authority on matters relating to the making of the regulations under the PFRDA Act.
Market based returns and wide coverage based on several investment options in the pension sector will build up the confidence in the subscribers, whereas withdrawals for limited purposes from Tier-I pension account will be an incentive for them to join NPS
//copy// source :PIB
Seventh Pay Commission
and Merger of DA: Demand by Delhi BJP President Vijay Goel
Tuesday, August 6, 2013
"Thus, at present, DA is more than 80 per
cent of the basic pay but it is not made part of the basic pay."
"The Delhi BJP chief said the government should set up
the Seventh Pay Commission."
Centre's proposed DA hike too little too late: BJP
NEW DELHI: Delhi BJP today termed hike in dearness allowance (DA), proposed to be announced by the
government, as 'too less and too late' and demanded its merger with the
employees' basic pay.
"In the wake of rising prices of all essential commodities,
inflation has been hurting not only government employees but also the poor and
the middle class. The latest DA hike proposed to be announced by the government
is too less and too late," said Delhi BJP President Vijay Goel.
Goel said the Fifth Pay Commission had recommended that if the
DA crosses more than 50 per cent then it should be clubbed with the basic pay.
"This provided some relief to government employees. But
this was discontinued in the Sixth Pay Commission. Thus, at present, DA is more
than 80 per cent of the basic pay but it is not made part of the basic pay. Now, the DA is expected to increase by 10 to 11 per cent
but the government is not waking up," he said in a statement.
Tuesday, 3 September 2013
Cabinet is likely to approve GDS bonus ceiling
for Rs.3500- in the ensuing meeting:
After clearance of the Department’s proposal of Rs.3500-
bonus ceiling to GDS by the Ministry of Finance during 3rd week of
August, the process for cabinet approval has started and a note has been
submitted by the Department to the Min. of Finance to submit for further
approval in the Cabinet meeting. It may be expected in the ensuing meeting of
the Cabinet.
NEW DELHI: There are no uniform rules for female employees in government departments and organizations and they are treated by varying yardsticks when it comes to essential benefits like maternity and child care leave (CCL).
Dismayed after finding that maternity leave can vary from 90 to 135 days, a Parliamentary panel has suggested that all government departments and organizations should ensure 180 days of leave for their women employees
.
The panel found many organizations grant 90, 85 or 135 days of maternity leave. It has said child care leave (CCL) of 730 days must be granted with pay to women employees across the board in government.
The committee was also distressed by the low presence of women employees in Government organizations. "It is disheartening to observe that it is significantly low...10.04% as per the 2012 census of Central Government employees," the panel said. The representation is particularly poor in semi-urban and rural areas.
The Standing Committee on Law, Personnel and Public Grievances on the 'status of women in government employment and in public sector undertakings' was unhappy that while a majority of the organizations do grant CCL, but they do so without pay.
For example, Mahanandi Coalfields Ltd gives CCL to female employees working as executives but not for non-executive category. In Cochin Shipyard Ltd, CCL is not granted since there is no specific direction from the department of public enterprises.
The policy has been discontinued in Mormugao Port Trust even though CCL benefits have been extended to all civilian female industrial employees in government since September, 2008. But many women employees hesitate to avail the leave, if granted without pay.
Introduction of "flexible timings" for female employees, especially young mothers, so that organizations can retain talent has been mooted by the committee headed by Congress MP Shantaram Naik as the panel found household responsibilities as a major reason for attrition among women employees.
The government has been asked to explore the policy on "staggered working hours" or "work at home" for female employees. The panel was informed that the recommendation of Sixth Pay Commission regarding staggered working hours was not accepted by the Government.
Single women should be given postings closest to their hometown or places of their choice, the panel said. "It should be mandatorily ensured," it said, adding that this "pertinent factor" should be kept in mind during allocation of postings by department heads.
The provision for giving same station posting to couples may be given statutory backing, the panel recommended as it found the instruction is not always adhered to
.
Women employees who travel beyond office hours should be provided with security and proper transport by the employer in order to ensure their safety, the Committee said.
The panel also noted that action taken on complaints of sexual harassment at workplace is "not satisfactory". It felt merely transferring a delinquent employee to a different branch or station is inadequate and strict disciplinary action is needed. "The punishment has to be deterrent for prospective offenders," the panel said.
Source: http://timesofindia.indiatimes.com (o1 Sep,2013)
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