Monday, 27 January 2014

Change in procedure for PAN Card allotment

ARA Centre, Ground Floor, E-2, Jhandewalan Extension,
New Delhi-110055
F.No: oPAN/1/3/2003/Part                                                                                                                                                                          Dated: 24.1.2014
Sub: Change in procedure for PAN allotment.
1. The fee for processing a PAN application shall be Rs 105/- (inclusive of all taxes).
2. Subsequent to notification S.O.No 3794(E) dt 23.12.2013, the procedure for PAN allotment process will undergo a change w.e.f. 03.02.2014.
2.1 From 03.02.2014 onwards, every PAN applicant has to submit self attested copies of Proof of Indentity (POI) , Proof of Address (POA) and Date of Birth (DOB) documents and also produce original documents of such POl/POA/DOB documents for verification at the counter of PAN facilitation centers. List of documents of POl/POA/DOB is given in the Instructions part of Form 49A/49AA.
2.2 The copies of Proof of Identity (POI), Proof of Address (POA) and Date of Birth (DOB) documents attached with PAN application form, will be verified vis a vis their original documents at the time of submission of PAN application at PAN facilitation Centres.
2.3 Original documents shall not be retained by the PAN Facilitation Centres and will be returned back to the applicant after verification.
(N.J. Singh)
Joint Director of Income
Tax (Systems)-I
New Delhi

source - nrmu

Saturday, 25 January 2014

Central Government Employees will go on two days strike on 12th and 13th February-Confederation

No. Conf. 22/2014
Dated : 21st January 2014
The Cabinet Secretary,
Cabinet Secretariat,
Government of India,
Rastrapathi Bhawan,

Dear Sir,

This is to give notice that the employees who are members of the affiliated organisations of the Confederation of Central Government Employees and Workers will go on two days strike on 12th and 13th February, 2014. The Charter of demands in pursuance of which the employees will embark upon the two days strike action is enclosed.

Thanking you.
Yours faithfully,
Secretary General

Source :confederationhq

Remittance of NPS funds solely through electronic mode (NEFT/RTGS) from 01st April 2014

Date: 09th January 2014
All Central Government Ministries & State Governments

Dear Sir/Madam,

Remittance of NPS funds solely through electronic mode (NEFT/RTGS) from 01st April 2014

1. The Circulars no. PFRDA/2013/10/CRTB/1 dated 30th April 2013 and PFRDA/2013/12/CRTB/2 dated 31" May 2013 may be referred.

2. It has been observed that the following problems are presently being faced on account of remittance of NPS contribution funds through physical instruments:

a.) Higher percentage of rejection of contributions/ funds return
b.) Delays due to cheque clearing activity
c.) incidences of cheque rejection due to financial/ technical reasons.

3. All the aforementioned issues affect the timely investments of the subscribers thus adversely impacting their pension corpus accumulation. To obviate the aforesaid concerns, and in compliance of CVC instructions issued vide Office Order No. 20/4/04 File No. 98/ORD/1 dated 06-04-2004 PFRDA has decided to discontinue the remittance of NPS contribution funds through physical instruments and to accept remittance solely through electronic mode from 01st April 2014.

4. Accordingly from 01st April 2014 onwards, all the nodal offices remitting NPS contributions have to mandatorily remit NPS Contributions through electronic mode i.e. NEFT/ RTGS only.

5. The overall procedure for remittance of funds to Axis Bank (Trustee Bank), matching & booking of Subscriber Contribution Files (SCFs) and the receipt of funds from it shall remain unchanged.

6. This circular may be sent to all the nodal offices under your jurisdiction for necessary action/ compliance.

7. The contact details of NPS Cell at Axis Bank is as follows:

First Level of Contact:

S No. Contact Person   Designation  Phone No. 
 1  Mr Abhishek Gautam      Senior Manager     022-24253678
 2   Mr Dakshesh Barbhaya      Senior Manager    022 24253639
3 Mr Yash Mayekar            Senior Manager       022 24253628

Second Level of Contact:

S No. Contact Person   Designation  Phone No.
 1 Mr Debraj Saha  Assistant Vice President 011 43506532
 2 Mr Piyush K Singh Deputy Vice President 022 24253680

The Circular has also been placed on PFRDA website at

Yours faithfully,
(Ashish Kumar)
General Manager

Railway Board Orders - Determination of date of increment after expiry of duration of penalties of withholding of increments/reduction to lower stage imposed for less than a year regarding

No. E(D&A) 2008 RG6-36
New Delhi, 15/01/2014
The General Manager(P)
All Indian Railways and
Production Units etc.
(As per standard list).

Sub: Determination of date of increment after expiry of duration of penalties of withholding of increments/ reduction to lower stage imposed for less than a year regarding.

Ministry of Railways have received a few references regarding certain penalties of rule 6 of Railway Servants (Discipline And Appeal) Rules, 1968 which are having pay element imposed for less than a year. In one case, the penalty of withholding of increments was imposed on 24.3.2008 for a period of six months with cumulative effect and in the other case the penalty of reduction to lower stage was imposed on 9.2.2009 for a period of six months with non-cumulative effect.

2. The question of date of release of increment in the above cases on expiry of the penalty, in the context of fixing of 1st July as the date of increment uniformally for all Government servants following VIth CPC, has been examined in consultation with the Department of Personnel & Training. It is advised that fixing of 1st July as the date of increment for all Government servants under the Revised Pay Rules following the acceptance of the recommendation of the IVth CPC, is relevant, only in respect of Annual increment. This provision is not applicable where the increment is withheld as a measure of penalty. In cases where the increment is withheld as a penalty for a specified period restoration of the withheld increment would be at the end of the currency of the penalty and not postponed to the next 1st July. The person concerned may even be entitled to the next increment on the 1st July following the expiry of the currency of the penalty, (notwithstanding the fact that the penalty imposed on him was having postponing effect on his future increments), if he has net qualifying service of six months prior to the relevant 1st July.

3.  Likewise, where the penalty of reduction to lower stage was imposed, the pay will be restored immediately on expiry of the currency of the penalty. In so far as release of next increment is concerned, the same may also be allowed immediately on restoration if the person concerned has rendered net qualifying service of six month on the 1st July preceding the date of the expiry of the currency of the penalty.

Please. acknowledge receipt,

(Harish Chander)
Dy. Director Est. (D&A)


Wednesday, 22 January 2014

मकान किराया भत्‍ते (एचआरए) पर कर-छूट का प्रावधान,Income Tax Rebate on House Rent

ड़ी संख्‍या में नौकरीपेशा लोग अपने सैलरी पैकेज के एक हिस्से के रूप में हर माह ही मकान किराया भत्‍ता (एचआरए) हासिल करते हैं। यहां तक कि बड़े-बड़े पदों पर रहने वाले कंपनियों के डायरेक्टर्स भी एचआरए प्राप्त करते हैं, जिससे उन्हें इनकम टैक्स बचाने में मदद मिलती है। आयकर अधिनियम की धारा 10(13ए) और नियम 2ए में मकान किराया भत्‍ते (एचआरए) पर कर-छूट का प्रावधान किया गया है।

इसके तहत नियोक्ता द्वारा दिए गए एचआरए पर वह कोई भी आयकरदाता कर-छूट का लाभ हासिल कर सकता है, जो किराये के मकान में रह रहा है। हालांकि इसकी अपनी कुछ सीमाएं भी हैं। अगर कोई कर्मचारी अपने स्वयं के मकान में रह रहा हो तो उसे एचआरए में इनकम टैक्स का लाभ नहीं मिलेगा।

कर-छूट का लाभ प्राप्त करने के लिए रसीद कब जरूरी है।? 

सेंट्रल बोर्ड ऑफ डायरेक्ट टैक्सेस के अनुसार कर-छूट का लाभ प्राप्त करने के लिए अपने नियोक्ता को किराये की रसीद प्रस्तुत करना तभी अनिवार्य होता है, जब कर्मचारी को प्रति माह तीन हजार रुपए से अधिक का एचआरए मिल रहा हो।

यह एक बड़ी भ्रांति है कि कर्मचारियों को जितना मकान किराया भत्‍ता (एचआरए) मिलता है, उतना पूरा का पूरा ही इनकम टैक्स में डिडक्ट हो जाता है। ऐसा नहीं है। इसके भी कुछ नियम हैं, जिन्हें समझना जरूरी है।

क्या हैं नियम ? 

एचआरए पर छूट का लाभ लेने के कुछ नियम हैं। यह छूट उतनी ही राशि पर मिलेगी, जो निम्‍न में से न्यूनतम होगी :

असल मकान किराया भत्‍ता, कुल वेतन की 10 फीसदी राशि को वास्तविक किराये में से घटाने के बाद शेष राशि।

मुंबई, दिल्ली, चैन्नई और कोलकाता में रहने वाले व्यक्ति के वेतन की 50 फीसदी और अन्य शहरों में रहने वाले व्यक्ति के वेतन की 40 फीसदी राशि। (वेतन में बेसिक और डीए भी शामिल रहता है।)

इसे ऐसे समझें 

भोपाल निवासी XYZ का मासिक वेतन 30 हजार रु. है। मासिक एचआरए 6 हजार, मकान का किराया 5 हजार रु.।
वास्तविक एचआरए : 6000 रुपए।
मकान किराये के रूप में संजय 5000 रु. चुका रहा है। कुल वेतन (30,000) की 10 फीसदी राशि यानी 3000 को वास्तविक किराये में से घटाने के बाद शेष राशि आएगी 2000 रुपए।

चूंकि संजय भोपाल में रह रहा है तो उसके कुल वेतन (30,000) का 40 फीसदी 12,000 रुपए होगा।
नियमानुसार इन तीनों में से जो न्यूनतम होगा, उतनी ही राशि की कर में छूट मिलेगी। न्यूनतम राशि 2000 रु. है, यानी XYZ को कर योग्य आय में से 24 हजार रुपए की ही वार्षिक छूट मिलेगी। उसे प्रति माह एचआरए के रूप में 6 हजार रुपए मिलते हैं, अर्थात प्रति माह 4 हजार रुपए या वार्षिक 48 हजार रु. कर योग्य आय में जुड़ जाएंगे।

पैन नंबर कब जरूरी ? 

अगर कोई कर्मचारी साल में एक लाख रुपए या उससे अधिक राशि किराये के रूप में दे रहा है तो उसे अपने मकान मालिक के पैन नंबर की जानकारी भी अपने नियोक्ता को देनी होगी। मकान मालिक के पास पैन नंबर नहीं होने पर उसे मकान मालिक से एक डिक्लेरेशन लेकर उसे नियोक्ता को देना होगा। 10 (13 ए) इनकम टैक्स की इस धारा में एचआरए से संबंधित प्रावधान दिए गए हैं।
Source - govemployees

Monday, 13 January 2014

EPFO raises interest rate to 8.75% for 2013-14

Retirement fund body Employees Organisation () on Monday announced a rise in interest rate on provident fund (PF) deposits to 8.75 per cent for 2013-14, to benefit 50 million subscribers.

The interest rate on PF deposits in the previous financial year was 8.5 per cent. The decision to raise the rate was taken by the Central Board of Trustees (), the apex decision making body of the EPFO.     

"We have decided to recommend to the government an 8.75 per cent rate for 2013-14 to its subscribers," Labour Minister Oscar Fernandes, who chaired the CBT meet, said. The EPFO's recommendations would now be vetted by the finance ministry. Once the ministry gives its concurrence to the decision, the interest would be credited into the accounts of subscribers.     

EPFO Central Provident Fund Commissioner K K Jalan said: "We have estimated an income of Rs 25,048.5 crore for 2013-14. EPFO would require Rs 25,005.4 crore for providing an 8.75 pre cent rate of interest for this financial year and leave a surplus of Rs 43 crore."

EPFO also announced a 20 per cent cover increase in Employees' Deposit Linked Insurance Scheme as an interim measure. Under this scheme, the family of a worker can get a maximum sum assured of Rs 1,30,000 in case of his/her demise during the service period. After the raise, the maximum amount would be Rs 1,56,000.     

The CBT has also approved increasing minimum administrative charges for managing EPF Scheme and EDLI Scheme to Rs 500 and Rs 200 a month from Rs 5 and Rs 2, respectively. The charges for non-functional firms having no contributory members have also been increased to Rs 75 and Rs 25 per month, respectively, for the two schemes.

EPFO has a corpus of Rs 5 lakh crore. When asked about its plans to improve investments, particularly Special Depositor Scheme (SDS) which earns an eight per cent rate of return, Jalan said: "We will definitely take out money from SDS and invest in high-yielding instruments. We will soon work on a proposal."

On the labour minister's idea of deducing extra 10 per cent on basic wages by EPFO for providing housing to workers, the he said: "We will work on the proposal. He has a lot of experience." The CBT also initiated the process for selection of multiple fund managers and formed a panel to appoint a consultant for the purpose. CRISIL is providing consultancy services to the EPFO.

The trustees also asked the Finance, Investment and Audit Committee to look into the proposal that sought more freedom for the EPFO to trade and exit investments besides allowing it to refrain from investing in bonds of states.

The board also reviewed the performance of its four fund managers since August, 2011. The State Bank of India remained on the top by earning a return of 9.23 per cent on investments, followed by Reliance Capital Asset Management at 9.19 per cent. HSBC AML and ICICI Sec PD earned 9.18 per cent each, above the benchmark rate of 9.11 per cent.

The EPFO also launched an electronic return facility for exempted establishments (private PF trusts). It will benefit 3,000 exempted establishments which are now required to file their monthly and annual paper returns.     

These establishments which are otherwise managing the provident fund trust on their own will now get the facility of electronically reporting about their work. This electronic return will replace the earlier monthly and annual paper returns filed by exempted establishments.
SOUTCE - business-standard