Date of Effect of 7th Central Pay Commission – Minister replied in Parliament

Date of Effect of 7th Central Pay Commission – Minister replied in Parliament

In Parliament the Minister of Finance Shri.Chidambaram informed in a written reply to a question on 2nd Febrauary 2014 that the date of effect of the recommendations of the 7th Central Pay Commission will be decided once the Report is submitted.
And he also said, the composition of the 7th Central Pay Commission is broadly in line with the composition of the previous Central Pay Commissions.

The scope of the task before the Central Pay Commission is framed in such a fashion as to enable the Commission to examine holistically all aspects of emoluments structure of various categories of Central Government employees, including personnel of Defence Forces, having regard, inter-alia, to the issues specific to them and make recommendations thereon.

http://90paisa.blogspot.in/2014/04/date-of-effect-of-7th-cpc-minister.html

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PFRDA Circular – Registration of Government employees aged 60 years and above under National Pension System (NPS)

PFRDA Circular – Registration of Government employees aged 60 years and above under National Pension System (NPS)

CIRCULAR

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

22 April, 2014

PFRDA/2014/3/PDEX/12
Subject: Registration of Government employees aged 60 years and above under National Pension System (NPS)

The Authority has been receiving several requests from various governments (central & state) to approve the registration of subscribers under National Pension System (NPS) who are aged 60 years and above and which are being approved on case by case basis by PFRDA at present.

Keeping in view of the difficulties being faced by subscribers, now the Authority has decided to enroll all eligible Government employees (central & state) who are on the rolls of the government in to NPS, irrespective of the age at the time of entry, subject to the condition that the total period of contribution to NPS account shall not be more than 42 years. The NPS applications of such subscribers need to be submitted through the appropriate nodal officer of the Govt/ Deptt, in line with the procedure adopted for NPS registration for Government employees aged below 60 years. Also, the responsibility for ensuring that the employee is eligible for being covered under NPS and that the NPS contribution is not paid beyond 42 years during the entire service period for such an employee, lies with the department submitting the subscriber registration form.

This is for the information of all concerned.

Sd/-
Venkateswarlu Peri
General Manager

Source : www.pfrda.org.in
[http://www.pfrda.org.in/writereaddata/linkimages/Registration%20of%20Govt%20employees%20aged%2060%20years%20and%20above763537413.pdf]

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Railway Minister has written a do letter to Finance Minister for abolishing New Pension System – AIRF & NFIR

Railway Minister has written a do letter to Finance Minister for abolishing New Pension System – AIRF & NFIR
HON’BLE MINISTER FOR RAILWAYS SH. MALIKARJUN KHARGE HAS WRITTEN A DO LETTER TO MINISTER FOR FINANCE FOR ABOLISHING NEW PENSION SYSTEM (NPS) FROM INDIAN RAILWAYS.

MINISTER FOR RAILWAYS
GOVERNMENT OF INDIA
NEW DELHI

No. 2012/F(E)III/1/4-Part

29 MAR 2014

Dear Shri P. Chidambaram ji,
Through this letter, I wish to draw your attention to a long standing demand raised by both Staff Federations of Railways on National Pension Scheme (NPS) for employees of Indian Railways. The Federations have been expressing resentment over operation in the Railways of the National Pension Scheme, which is perceived as a lower social security cover for Railway employees. Their contention is that there are enough grounds for Railway employees to be treated differently from other civil employees of the Government, and that Indian Railways should operate the traditional defined benefit pension scheme available to pre-01-01-2004 appointees.

You will recall that a few organizations/categories of Government employees were specifically exempted from the purview of NPS on consideration of special, riskier and more onerous nature of duties. The Federations have been drawing parallel with of nature of duties performed by most categories of Railway employees with those in the Armed Forces. They contend that during British period, Railways was conceived and operated as an auxiliary wing of the Army. It was also realized that by virtue of its complex nature, Railways required a high level of discipline and efficiency to be able to perform its role as the prime transport mode. Railways is an operational organization required to be run round the clock through the year. Railway employees have to work in inhospitable conditions, braving extreme weather, unfriendly law and order scenario, and inherent risks associated with the Railway operations itself. As in the Armed Forces, many have to stay away from their families for long periods while performing duties in areas where adequate facilities are lacking.

I feel that there is considerable merit in the contention of the Staff Federations. Besides the critical and complex nature of duties of Railway employees, the hazards involved are also high. Despite best efforts for enhanced safety measures, a large number of Railway employees lose their lives or meet with serious injuries in the course of performance of their duties each year.

During the period 2007-08 to October 2011, the number of Railway employees killed during the course of their duty has been more than number of passengers/other members of public killed in Rail related accidents including accidents at unmanned level crossings. While the nature of duties of Railway employees is inherently high risk during peace time, they also perform functions of critical importance during war time and times of natural calamities, in moving men and materials across the country to maintain supply of essential commodities and safeguard integrity of the nation.

In my view, there are adequate grounds for the Government to consider exemption for Railway employees from the purview of NPS. The Implications of this would be that Government expenditure would reduce over the next few years through discontinuance of Government Contribution under the NPS, but the long term liabilities would increase, as financial commitments in the defined benefit pension scheme would be higher. Since Railways are required to meet the pensionary outgo from their internal resources, switchover to defined benefit pension scheme would call for a more systematic provisioning under the Pension Fund through appropriate revenue generating measures. With Rail Tariff Authority on the horizon, I believe that this would be possible.

In the light of the above, I suggest that our request for exemption from operation of the NPS be considered sympathetically and necessary approvals communicated.

A copy of each demands raised by the two Federations is enclosed.

With regards,

Yours sincerely,
sd/-
(Mallikarjun Kharge)

Shri P.Chidambaram,
Finance Minister,
Government of India,
North Block,
New Delhi-110001.

Source: AIRF & NFIR

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Finmin Orders on DA applicable to employees drawing their pay in the pre-revised scale as per 5th CPC

Finmin Orders on DA applicable to employees drawing their pay in the pre-revised scale as per 5th CPC

Finmin Orders on  Rates of Dearness Allowance applicable w.e.f. 1.1.2014 to employees of Central Government and Central Autonomous Bodies continuing to draw their pay in the pre-revised scale as per 5th Central Pay Commission.

No.1(3)/2008-E.II(B)
Government of India
Ministry of Finance
Department of Expenditure

North Block, New Delhi
Dated: 22nd April, 2014.

OFFICE MEMORANDUM

Subject: Rates of Dearness Allowance applicable w.e.f. 1.1.2014 to employees of Central Government and Central Autonomous Bodies continuing to draw their pay In the pre-revised scale as per 5th Central Pay Commission.

The undersigned is directed to refer to this Department’s O.M. of even No. dated 7th October, 2013 revising the rates of Dearness Allowance in respect of employees of Central Government and Central Autonomous Bodies who continue to draw their pay and allowances in the pre-revised scales of pay as per 5th Central Pay Commission.

2. The rates of Dearness Allowance admissible to the above categories of employees of Central Government and Central Autonomous bodies shall be enhanced from the existing rate of 183% to 200% w.e.f. 1.1.2014. All other conditions as laid down in the O.M. of even number dated 3rd October, 2008 will continue to apply.

3. The contents of this Office Memorandum may also be brought to the notice of the organizations under the administrative control of the Ministries/Departments which have adopted the Central Government scales of pay.

sd/-
(Subhash Chand)
Deputy Secretary to the Government of India

Source: www.finmin.nic.in
[http://finmin.nic.in/the_ministry/dept_expenditure/notification/da/da_order_cab01012014.pdf]

 

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Income Tax exemption limit should be raised to Rs 5 Lakh: Arun Jaitley

 Income Tax exemption limit should be raised to Rs 5 Lakh: Arun Jaitley

 

Arun Jaitley, one of BJP’s prominent leaders says that raising income tax slab to Rs 5 lakh will benefit more than thirty million people in the country. He also added that direct tax should be reduced, If the Income Tax limit is raised from Rs. 2 lakh to Rs. 5 lakh, 3 crore people will save Rs. 24 crore which will lead to a small impact of 1 to 1.5 per cent of the National Tax Fund.

All 100% of the Government employees pay taxes without fail, all the time. There is no doubt about it.

Each year, with Government employees losing about a month’s pay as taxes, the suggestion to raise tax slab to Rs. 5 lakh is a welcome move. But, since such ideas are being aired only around election time, they lose credibility.

It has almost become a routine for the Government employees to eagerly hope for a tax slab raise during each annual budget presentation, and be disappointed. There haven’t been any alternative savings options to avoid income tax this time also.

Those who had got employed after 2004 have no options to save and are paying income tax even for comparatively lower incomes.

Will this situation continue?
Only the new Government at the Centre will have the answer to this question.

Source: 90paisa.blogspot.in
[http://90paisa.blogspot.in/2014/04/income-tax-exemption-limit-should-be.html]

 

Be the first to comment - What do you think?  Posted by admin - April 23, 2014 at 4:42 pm

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