Posts Tagged ‘Railway employee’

Cabinet approves Productivity Linked Bonus for Railway Employees

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Cabinet approves Productivity Linked Bonus for Railway Employees

Railway Bonus 2018

Press Information Bureau
Government of India
Cabinet

10-October-2018 13:34 IST

Cabinet approves Productivity Linked Bonus for Railway Employees

Productivity Linked Bonus (PLB) equivalent to 78 days’ wages for the financial year 2017-18 for all eligible non-gazetted Railway employees

About 11.91 lakh non-gazetted Railway employees are likely to benefit from the decision

Payment of 78 days’ PLB to railway employees has been estimated to be Rs. 2044.31 crore

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the payment of Productivity Linked Bonus (PLB) equivalent to 78 days’ wages for the financial year 2017-18 for all eligible non-gazetted Railway employees (excluding RPF/RPSF personnel). The financial implication of payment of 78 days’ PLB to railway employees has been estimated to be Rs.2044.31 crore. The wage calculation ceiling prescribed for payment of PLB to the eligible non-gazetted railway employees is Rs.7000/- p.m. The maximum amount payable per eligible railway employee is Rs.17,951 for 78 days. About 11.91 lakh non-gazetted Railway employees are likely to benefit from the decision.

The Productivity Linked Bonus on Railway covers all non-gazetted railway employees (excluding RPF/RPSF personnel) who are spread over the entire country. Payment of PLB to eligible railway employees is made each year before the Dusshera/ Puja holidays. The decision of the Cabinet shall be implemented before the holidays for this year as well. For the year 2017-18 PLB equivalent to 78 days’ wages will be paid which is expected to motivate the employees for working towards improving the performance of the Railways.

Background:

Railways were the first departmental undertaking of the Government of India wherein the concept of PLB was introduced in the year 1979-80. The main consideration at that time was the important role of the Railways as an infrastructural support in the performance of the economy as a whole. In the overall context of Railway working, it was considered desirable to introduce the concept of PLB as against the concept of Bonus on the lines of ‘The Payment of Bonus Act – 1965′.

Source: PIB

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Meeting of the Committee constituted to suggest measures for streamlining the implementation of the National Pension System (NPS) for Central Government Employees

Meeting of the Committee constituted to suggest measures for streamlining the implementation of the National Pension System (NPS) for Central Government Employees

NFIR
National Federation of Indian Railwaymen
No.IV/NPS/PFRDA BILL/Part-I

Dated :18-03-2017

The General Secretaries
Of Affiliated Unions of NFIR

Brother,

Sub: Meeting of the Committee constituted to suggest measures for streamlining the implementation of the National Pension System (NPS) for Central Government Employees – reg.

A Meeting of the Committee with JCM (Staff Side) under the chairmanship of Secretary (Pension), Department of Pension & Pensioners Welfare was held at sardar patel Bhavan, New Delhi on 17th March 2017 at 15.00hrs. Brief on the discussions is given below:

(i) At the outset, Secretary (Pension) stated that the Committee will try to consider and propose for safeguarding the interests of pensioners appointed on or after 01-01-2004. He said that the purpose of meeting was to elicit views from JCM (Staff Side) and make out report with an attempt to accommodate the views by and large.

(ii) Thereafter, the Additional Secretary (Pension) made a brief presentation highlighting the attempts of the Committee for formulating Rules. Regulations and procedures to be considered by the Government.

(iii) Initiating discussion, the JCM (Staff Side) leaders have reiterated their consistent stand that the Liberalized Pension Scheme needs to be made applicable to those who joined the Government service from 01-01-2004.

2.The JCM (Staff Side) leader Dr.M.Raghavaiah and Standing Committee Member, Shri Guman Singh have participated in the meeting and pointed out as follows:

(a) The Committee should consider for recommending 50% of Last Pay drawn as minimum pension to the retiring NPS subscribers irrespective of their total service.

(b) The Pension Rules of 1972 be incorporated in the proposed draft Rules in an appropriate manner, thereby pension is guaranteed to the families of retired/deceased employees and their dependents.

(c) While 60% of Pension wealth will be paid to the retiring NPS subscriber, the remaining 40% is invested by PFRDA on which retiring employee has no control. What is needed to be ensured is Guarantee for payment of 50% of Last Pat drawn as Pension. Remaining 40% pension wealth may be invested or used by PFRDA on which retiring employee may have no claim.

(d) In the Railways, the employer deducts 10% of wages from employee’s salary towards subscription and contributes equal amount. No Railway employee knows what their actual amount is, as no written statement is furnished by the employer. The JCM (Staff Side) is not concerned about the role of PFRDA -NSDL etc., as every Railway employee wants to know what is his/her amount (subscription plus contribution). It should be ensured that Railways should give at least annually, the statement of accumulated amount to the employee so that on the date of his retirement, he/she will know whether entire money was credited to PFRDA and equally he/she will know what would be 60% of the total pension wealth. The present defective system needs to be streamlined.

The above is for information of affiliates.

Yours fraternally,
(Dr.M.Raghavaiah)
General Secretary.

Source: www.nfir.org.in

Be the first to comment - What do you think?  Posted by admin - March 22, 2017 at 8:35 am

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