Saturday, 28 February 2015

आयकर की दर में कोई परिवर्तन नहीं No Change in the Rate of Personal Income-Tax

वित्‍त वर्ष 2015-16 में व्‍यक्तिगत आयकर और कंपनियों के आयकर की दर में कोई परिवर्तन नहीं 

एक करोड़ से अधिक की आय वाले व्‍यक्तियों, एचयूएफ, एओपी, बीओई, फर्मों, कॉओपरेटिव सोसाइटियों और स्‍थानीय प्राधिकरणों पर 12 प्रतिशत की दर से अधिभार 


केंद्रीय वित्‍त मंत्री श्री अरुण जेटली ने आज लोकसभा में वर्ष 2015-16 का आम बजट पेश करते हुए व्‍यक्तिगत आयकर की दर में कोई बदलाव न किए जाने का प्रस्‍ताव किया है। अपनी बजटीय घोषणा में उन्‍होंने कहा कि वित्‍त वर्ष 2015-16 में अर्जित आय के संदर्भ में कंपनियों के कर में भी किसी तरह का बदलाव नहीं किया जाएगा और यह वर्ष 2016-17 के लिए भी लागू होगी। 

हालाकि वित्‍त मंत्री ने एक करोड़ से अधिक की आय वाले व्‍यक्तियों, एचयूएफ, एओपी, बीओई, फर्मों, कॉओपरेटिव सोसाइटियों और स्‍थानीय प्राधिकरणों पर 12 प्रतिशत की दर से अधिभार लगाने का प्रस्‍ताव किया है। एक करोड़ से लेकर 10 करोड़ तक की आय वाली घरेलू कंपनियों के मामले में 7 प्रतिशत और 10 करोड़ से ज्‍यादा की आय वाली घरेलू कंपनियों पर 12 प्रतिशत की दर से अधिभार लगाया गया है। 

श्री अरुण जेटली ने आगे प्रस्‍ताव करते हुए कहा कि एक करोड़ से 10 करोड़ तक की आय वाली विदेशी कंपनी के मामले में अधिभार दो प्रतिशत की दर से यथावथ रहेगा और 10 करोड़ से ज्‍यादा आय वाली विदेशी कंपनियों पर पांच प्रतिशत की दर से अधिभार जारी रहेगा। 

सार्वभौमिक गुणवत्‍ता आधारित शिक्षा प्रदान और वित्‍त पोषित करने की सरकार की वचनबद्धता को पूर्ण करने के लिए सभी करदाताओं के लिए वित्‍त वर्ष 2015-16 में आयकर पर 2 प्रतिशत की दर से शिक्षा उपकर और कर पर माध्‍यमिक एवं उच्‍चतर शिक्षा उपकर पर 1 प्रतिशत कर अतिरिक्‍त प्रभार लगाने का प्रस्‍ताव किया गया है।


No Change in the Rate of Personal Income-Tax and The Rate of Tax for Companies on Income in Financial Year 2015-16 

Surcharge @12% Levied on Individuals, HUFs, AOPs, BOIs, Artificial Juridical Persons, Firms, Cooperative Societies and Local Authorities Having Income Exceeding Rs 1 Crore


The Union Finance Minister Shri Arun Jaitley in his Budget Speech in Lok Sabha today proposed no change in the rate of personal Income-tax. He announced the tax proposals with no change in the rate of tax for companies in respect of the income earned in the financial year 2015-16, assessable in the assessment year 2016-17. 

However, Finance Minister Shri Arun Jaitley proposed to levy a surcharge at the rate of 12% on individuals, HUFs, AOPs, BOIs, artificial juridical persons, firms, cooperative societies and local authorities having income exceeding Rs 1 crore. Surcharge in the case of domestic companies having income exceeding Rs 1 crore and upto Rs 10 crore is proposed to be levied @ 7% and surcharge @ 12% is proposed to be levied on domestic companies having income exceeding Rs 10 crore. 

Shri Jaitley further proposed that in the case of foreign companies the surcharge will continue to be levied @ 2% if the income exceeds Rs 1 crore and is upto Rs 10 crore, and @ 5% if the income exceeds Rs 10 crore. 

It is also proposed to levy a surcharge @ 12% as against current rate of 10% on additional income-tax payable by companies on distribution of dividends and buyback of shares, or by mutual funds and securitization trusts on distribution of income. 

The education cess on income-tax @ 2% for fulfillment of the commitment of the Government to provide and finance universalized quality based education and 1% of additional surcharge called ‘Secondary and Higher Education Cess’ on tax and surcharge is proposed to be continued for the financial year 2015-16 for all taxpayers. 


NFIR's 55 POINT charter of demands before 7th pay commission.

Pay of central government employees will be linked with productivity

NEW DELHI: The 14th Finance Commission has suggested linking pay with productivity with a focus on technology, skills and incentives, a move aimed at raising the productivity of government employees.
The panel has recommended that in future additional remuneration be linked to increase in productivity.
The Seventh Pay Commission is expected to submit its recommendations by August and it has been asked to look at the issue of raising productivity and improving the overall quality of public services in the country.
The Sixth Pay Commission had also said that steps should lead to improvement in the existing delivery mechanism by more delegation and de-layering and an emphasis on achieving quantifiable and concrete end results. Emphasis is to be on outcome rather than processes, it had said. The earlier Pay Commissions had also made several recommendations to enhance productivity and improve administration.
The 14th Finance Commission’s recommendations assume significance at a time when the Narendra Modi government has focused its attention to improve the delivery of public services and is taking steps to use technology to improve efficiency.
The Union government has taken several steps to shore up the bureaucracy and has changed the way attendance is measured in government offices.
“Further we recommend that Pay Commissions be designated as Pay and Productivity Commissions with a clear mandate to recommend measures to improve productivity of an employee,” said the 14th Finance Commission headed by former Reserve Bank of India Governor Y.V. Reddy.
The Reddy panel said productivity per employee can be raised through the application of technology in public service delivery and in public assets created.
“Raising the skills of employees through training and capacity building also has a positive impact on productivity. The use of appropriate technology and associated skill development require incentives for employees to raise their individual productivities,” the Reddy led panel said.
“A Pay Commission’s first task, therefore, would be identify the right mix of technology and skills for different categories of employees. The next step would be to design suitable financial incentives linked to measureable performance,” the panel said.
An internal study by the Commission showed that the expenditure on pay and allowances (excluding expenditure for Union territories) more than doubled for the period 2007-08 to 2012-13 from Rs 46,230 crore to Rs 1.08 lakh crore.
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SOURCE - 

Monday, 23 February 2015

Tax refunds may get delayed this year

tax refund

Income limit for dependency for CGHS coverage to family members

Income limit for dependency for CGHS coverage to family members
No. 9(6)12014/D(Civ-lI)
Government of India.
Ministry of Defence
Sena Phavan, New Delhi
Dated, 30th December, 2014
OFFICE MEMORANDUM
Subject: Revision of Income limit for dependency for the purpose of providing CGHS coverage to family members of the CGHS covered employees subsequent to implementation of recommendations of the VI CPC-Clarification
The undersigned is directed to refer to the above mentioned subject and to state as follow:
As per MoH&FW OM No S-11012/1/98-CGHS(P) dated 10.12.2008 issued with the concurrence of Dept of Expenditure vide ID No_ 566/EY/2008 dated 4.11.2008- “It has been decided , in consultation with the Department of Expenditure, to revise the income limit for the purpose of providing CGHS coverage to the family members of the CGHS covered Central Government employees to “Rs. 3500/- Plus at the amount of dearness relief on bask pension of Rs_ 3500/- as on the date of consideration.
The income limit for dependency of Rs. 3500/- plus amount of the dearness relief on the basic pension of Rs, 3500/- as- on the date of consideration”. Shall also be applicable for the eases covered under CS(MA)1944 Rules, 1944 for the purpose of examining divisibility of family members of the Central Government employees for medical facilities under the Rules.”
2. However, the Note 1 below sub-section 1(1) of Section 4 of Swamy’s Compilation of the Medical Attendance Rule,s as amended vide Deptt of Expenditure ID No. 566/E.V/2008 dated 4.11.2008 states that “A member of the family is treated as dependent only if his/her incomes from all sources including pension/family pension is less than Rs. 3500- (excluding dearness relief on the basis pension of Rs. 3500/-)”.
3. Since, the Note. I below sub-section 1(I) of Section 4 of Swamy’s Compilation of the MA Rules is contradictory to the MOH&FW OM dated 10.12.2008, it is requested that the necessary clarification on the dependency of family members may be furnished to this Ministry immediately.
(Gurdeep Singh)
Under Secretary to the Govt. of India
Tel. 23014675
Source-http://bpms.org.in/documents/dependent-gapb.pdf

बैंक कर्मियों के आए अच्छे दिन - Government agreed to hike 15% salary of bank employees

NEW DELHI: Employee unions of public sector banks today withdrew their strike call following an agreement with the management on 15 per cent wage hike.
“In today’s talks, wage revision settled at 15 per cent with effect from November 2012,” United Forum of Bank Unions (UFBU) Convener M V Murali said.

The bank unions had threatened to go on 4-day nation-wide strike from February 25 demanding 19 per cent hike in wages. The wage hike was due from November 2012.

At a meeting today in Mumbai, PSU banks employee unions and bank management, Indian Banks’ Association (IBA), agreed on 15 per cent wage hike and entered into an agreement for it.

National Organisation of Bank Workers (NOBW) Vice President Ashwini Rana said: “We are not happy as our expectation was that bank staff would get what was given to them last time — 17.5 per cent increase in wages”.

The bank employees will now also get holidays on two Saturdays in a month.

“Long pending demand of holiday on second and fourth Saturdays for the bank employees have also been reached,” AIBEA General Secretary C H Venkatachalam said.

Last week, Finance Minister Arun Jaitley had appealed to bank employee unions to call off their strike as talks were on for a revision of wages of employees.

The Minister said banks are already in negotiations with their unions and associations for wage settlement and “the bipartite negotiations in a cordial manner is the only available tool for settlement”.

The wage revision of public sector bank employees has been due since November 2012.

Earlier, unions had deferred one-day strike scheduled for January 7 as IBA improved the wage hike offer to 12.5 per cent from 11 per cent earlier.

There are 27 public sector banks in the country with a combined employee strength of about 8 lakh. There are about 50,000 branches of these banks across the country.

Source: Economics Times

Finance Minister to make employees happier with budget

bjt-emp-post

Thursday, 19 February 2015

Provident Fund subscriber to get health cover

pf health

New Pension System – Snatching pension like taking away right to live from pensioners.

Government employee when gets retired has only source of income in the form of pension. If pension is denied to pensioners that means something inhuman has been slapped on pensioners. Moreover government jobs are preferred over private jobs only because of Pension. But with the implementation of New Pension Scheme government sector has taken away the right to live from government employees. Bharat Pensioners Samaj in their meeting with 7th CPC gave presentation on the pension and tried to convince the 7th CPC; why pension should be continued and what problems pensioners are facing due to less emoluments in pension.

Quantum of pension
Pension of Govt. employees need to be 65% of last drawn as per 5th CPC study (TECS ). Correspondingly Family Pension to be 45% of last drawn.Fitment benefit exactly same as for employees. BPS urge 7th pay comm. to recommend accordingly to do justice .
Emoluments for Pension

NLCC access to CRA system to view and Print Statement to Transaction and E-PRAN

Pension Fund Regulatory & Development Authority
1st Floor, ICADR Building
Plot No.6, Vasant Kunj
Institutional Area, Phase – II
New Delhi – 110070
Te;:011-26897948/226897949
Fax: 011-26897938
PFRDA/2015/10/SWM/03
CIRCULAR
To,
All Aggregators
Date:17th February,2015
Subject: NLCC access to CRA system to view and Print Statement to Transaction and E-PRAN
All the Aggregators are hereby informed that NPS lite collection centre’s (NLCCs) can now access the CRA system (www.npscra.nsdl.co.in) to view and print statement of Transaction (SOT) and E-PRAN card of underlying NPS Lite/Swavalamban subscribers.
At present, the NPS Lite Oversight Offices (NLOOs) and NPS Lite Account Offices (NLAOs) have an access to the CRA system. With the new feature made available in the CRA system, then NLCCs can access CRA system using one time password (OTP). The NLCCs who have obtained10 digit NLCC Registration number and have registered their mobile number in the CRA system can use this option to access the CRA system.
The Statement of Transaction (SOT) can be viewed and downloaded by NLCC financial yearwise
The E-PRAN card can be generated/downloaded by NLCCs can also print the E-Pran card. The E-PRAN card is similar to a physical PRAN card and will display the same details alongwith photograph and signature of the subscriber. However, physical PRAN card cannot be replaced by E-PRAN Card. The subscribers will be required to produce the physical PRAN card wherever necessary. CRA shall continue sending the physical PRAN card as per the approved process.
The detailed for accessing the CRA system by NLCCs is available on CRS’s website and also on PFRDA’s website i.e. www.pfrda.org.in under the section intermediaries central recordkeeping agency –Standard Operating Procedures – Seavalamban yojana (NPS-Lite) or directly at the given link – http://www.pfrda.org.in/index1.cshtml?lsid-173
The Aggregators are requested to disseminate the information to their underlying NPS-lite collection centers (NLCCs). In case any further clarification is required, they may contact shri.sunil Samuel at 022-24994279 (email id – sunlis@nsdl.co.in) or Shri.Kaustubh S.Vaidya at 022-24994577 (email id – kaustubhV@nsdl.co,in).
Sd/-
(Rakesh sharma)
General Manager
Source: http://www.pfrda.org.in//MyAuth/Admin/showimg.cshtml?ID=580

Budget 2015 – Increased salaries of individuals are expected

bjt-sal-post

Wednesday, 18 February 2015

Supreme Court sets bar on suspension of govt employees

supreme-susp-post

Travelling Allowance in respect of Attendant,Escort for accompanying a Government Servant

No. 19030/3/2O3-E.IV
Government of India
Ministry’ of Finance
Department of Expenditure
North Block New Delhi.
Dated the 17th February, 2015.
OFFICE MEMORANDUM
Subject:- Travelling Allowance in respect of Attendat/Escort for accompanying a Government Servant with Disabilities on travel During tour/training etc
References have been received in the Ministry of Finance, Department of Expenditure seeking provision in the Rules/instructions regulating Travelling Allowance, in order to allow grant of Travelling Allowance to the Government servant with Disabilities in respect of an Attendant/Escort accompanying such a Government servant with Disabilities during travel while on tour/training. etc. At present there are no provisions in the Travelling Allowance rules which allows Government servants to claim Travelling Allowance in respect of Attendant/Escort accompanying them on tour/training. etc. where such Government servants require the assistance of an Attendant/Escort for travel.
2. The matter has been considered and it has now been decided to allow Travelling Allowance in respect of the Attendant/Escort. for accompanying a Government servant with l)disabilities during travel while on tour/training. etc., to be claimed by the Government servant with Disabilities. The admissibility of Travelling Allowance, in respect of the Attendant/Escort accompanying a Government servant with Disabilities, would be subject to the following conditions:
(a) Ordinarily, the field offices/Local administrative offices at the touring station, which the Government servant with Disabilities is required to visit on tour or training institutes where the Government servant with Disabilities is required to undergo training, would be required to provide an Attendant/Escort, from the existing pool of staff/persons employed, from the time the Government servant with disabilities arrives at the destination and till such time the Government Servant with Disabilities departs from that destination back to his headquarter station/place from where the Government servant with Disabilities had initially proceeded to that destination. During Travel abroad, either on foreign tour/training. The Indian Missions/Posts (Embassy of India) at the Country of visit would be required to provide an Attendant/Escort, from the existing pool of Staff/persons employed, during the period of stay of the Government servant with Disabilities in that country.
(b) Only when field offices/local administrative offices at the touring station or training Institutes or Indian Missions/ Posts at the country of visit, as the case may be, officially express Their inability to provide an Attendant/ Escort to the visiting Government servant with Disabilities, would the claim of Travelling Allowance in respect of Attendant/Escorts accompanying the Government servant with Disabilities arise. In such cases, fare for travel of Attendant/Escort accompanying Government servant with Disabilities would be reimbursed. While for travel by air, Airline expected to provide assistance to Government servant with Disabilities during travel as per Airlines policies, a Government servant with Disabilities however, can take along his personal Attendant/Escort for travel by Indian Railways for assistance during journey and boarding/de boarding even when an Attendant/escort at destination station is provided officially.
(c) In all cases, Government servants with Disabilities are required to purchase travel tickets for self and Attendant/ Escort at concessional rates, if any, offered by Railways/Airlines
(d) The facility of Travelling Allowance for the Attendant/Escort would only be admissible to those Government servants with Disabilities, wherein it is certified by the competent Medical Authority that such a person compulsorily requires assistance of another person for travel. Under this clause, necessary certificate is to be obtained from the Head of department of a Government Civil Hospital designated for the type/form of disability of the Government servant. Based on the certificate from competent Medical Authority, Heads of Departments would have to further satisfy the need for an Attendant/Escort during travel of the Government servant, before allowing the journey for the Attendant/Escort.
(e) Subject to clause (d) above. Travelling Allowance for the Attendant/escort would be admissible to the Government servant with Disabilities while on tour (domestic or foreign). However, the authority deputing such a Government servant with Disabilities on tour would have to record in writing that the tour is considered necessary in the discharge of duties and responsibilities assigned to the Government servant with Disabilities.
(f) Subject to clause (d) above, Travelling Allowance for the Attendant/escort would also be admissible to the Government servant with Disabilities when deputed on training provided it is recorded by the authority competent to depute such officials on training that such training is a mandatory training for career progression or induction training for probationers.
(g) Travelling Allowance consists of two parts; Mileage Allowance and Daily Allowance. No Daily Allowance would be admissible to the Attendant/Escort of the Government servant with disabilities. Mileage Allowance would be admissible to the Attendant/Escort at the same rate and in the same class of accommodation, as the Government servant with Disabilities is entitled to under the Revised Travelling Allowance Rules, read with travel restrictions imposed under austerity measures/economy instructions, issued from time to time by the Government. However, in case of travel by any of the modes of conveyance by road, as prescribed under the travelling Allowance rules, no separate mileage allowance would be admissible to the Government servant with Disabilities, in respect of the Attendant/escort, except where the travel is by public bus.
(h) For commuting between residence to office and back, certain categories of Government servants with Disabilities are eligible for Transport Allowance at double the normal rates. As no travelling Allowance is admissible to Government servants for training at headquarter station. Consequently, no claim of Travelling Allowance to the Attendant/Escort of the Government servant with Disabilities would be admissible for training at headquarter station.
3. In so far as persons serving in the Indian Audit and Accounts Department arc concerned. these orders issue in consultation with the Comptroller & Auditor General of India.
(Subhash Chand)
Director
CLICK HERE FOR ORIGINAL ORDERS - http://www.govemployees.in/travelling-allowance-respect-attendantescort-accompanying-government-servant-pdf/

Tuesday, 17 February 2015

Proposal for reimbursement of in-patient medical expenses in addition to Fixed Medical Allowance (FMA) to serving Government employees in remote areas.

No: 9(1)/2010/D (Civ-II)
Government of India
Ministry of Defence
B Wing, Sena Bhawan,
New Delhi.
Dated the 15th February, 2015
OFFICE MEMORANDUM
Subject: Proposal for reimbursement of in-patient medical expenses in addition to Fixed Medical Allowance (FMA) to serving Government employees in remote areas.
The undersigned is directed to refer to Ministry of Health & Family Welfare’ ID No. S.14025/9/2011-MS dated 14.08.2014 on the above mentioned subject.
2. This Ministry agrees with the proposal of MoH&FW that the “FMA being granted to CS(MA) beneficiaries be stopped and they should be governed by the provisions of CS(MA) Rules, 1944 under which medical reimbursement for outdoor treatment as well as indoor treatment is permissible as per rules.”
3. In addition to above, the following provisions for inclusion in the proposal, are also submitted for consideration of Ministry of Health & Family Welfare.
(a) FMA at enhanced rates @ Rs. 300/- p.m. may be paid w.e.f. 1.9.2008 till the provisions of CS(MA) Rules at para 2 above is made applicable;
(b) Procedure for appointment of AMA may be simplified and HoD may be authorised to nominate a RMP as AMA in case there is no Govt. doctor available within the radius of 5 ms;
(c) Provision of credit facilities may be made for serving & retired employees and dependent in emergency in Govt. approved hospitals;
(d) Provision for medical advance for Non-approved hospitals;
(e) There may be some isolated areas where no AMA/Govt doctor or RMP is available within the radius of 5 kms. In these areas, FMA @ Rs. 300/- p.m. may be continued to be paid to civilians in terms of Min of H&FW OM dated 17.07.1990 as the same is in lieu of OPD treatment only. The reimbursement of medical expenses for the indoor treatment, in respect employees posted in these areas, may also be allowed under the CS(MA) Rules.
3. This issues with the approval of Joint Secretary.
(Gurdeep Singh)
Under Secretary to the Govt of India.
Tel: 23014675
Ministry of Health & Family Welfare
Medical Services Section
(Shri Arun Chowdhury, Under Secretary),
Nirman Bhawan, New Delhi.

Sunday, 15 February 2015

Home Loan rate guide for 2015

As soon as one starts looking out at properties to buy a house, banks start offering home loans. This can be overwhelming at times. Making a choice then largely depends on comparing what competitor banks have to offer. Here is a list, which compares home loan rates by different banks.
For a loan amount up to Rs 30 lakh and the tenure being 15-20 years, the following is on offering.
1. Floating interest rate of 10.15 per cent
This rate is being offered by the following organizations:
  • SBI ( State Bank of India)
  • ICICI Bank
  • HDFC Bank
  • HSBC Bank
  • Axis Bank
  • PNB Housing Finance
  • DHFL
  • India Bulls ( Up to Rs 25 lakh)
  • Citi Bank
  • Tata Capital Housing Finance Ltd
EMI per lakh works out to be Rs 975.
SBI charges a processing fee of 0.25 per cent of the loan amount up to Rs 25 lakh or minimum Rs 1000. For a loan amount above Rs 25 lakh the processing fee is Rs 3,250. Citibank charges 0.25 per cent of the loan amount. ICICI, HDFC and PNB charge 0.5 per cent of the loan amount as processing fees. However, HDFC has capped the maximum amount to Rs. 10,000. Whereas, Axis Bank and HSBC charge a minimum processing fee of Rs 10,000 or 1 per cent of the total loan amount. DHFL charges Rs 5000 plus document charges and taxes and India Bulls charges Rs 7,500 plus taxes.
2. Floating interest rate of 10.20 per cent
This rate is being offered by the following banks:
  • Federal Bank
  • Bank of India
  • UCO Bank
  • Canara Bank
The EMI per lakh works out to be Rs 978.
Federal Bank and UCO Bank both charge 0.5 per cent of the loan amount. The minimum amount charged is Rs 3000 and Rs 1500 whereas maximum is Rs 7500 and Rs 15,000 respectively by both the banks. Bank of India has decided to waive off processing fees on new loans sanctioned up to March 2015.
3. Floating interest rate of 10.25 per cent
This rate is being offered by the following lenders:
  • IDBI
  • Punjab National Bank
  • Allahabad Bank
  • Central Bank of India
  • Corporation Bank
  • Union Bank of India
  • United Bank of India
  • Bank of Baroda
  • Oriental Bank of Commerce
  • Kotak Bank
  • Dena Bank
  • First Blue Home Finance
  • Syndicate Bank
  • Indian Overseas Bank
  • State Bank of Travancore
  • Indian Bank
The EMI per lakh works out to be Rs 982.
IDBI, Punjab National Bank and Oriental Bank of Commerce have NIL processing fees. State Bank of Travancore does not charge any processing fee up to a loan amount of Rs 25,000 and United Bank of India has waived off processing fee for a loan amount up to Rs 75 lakh. Processing fee ranges from 0.25 per cent to 0.5 per cent of the loan amount. Allahabad Bank charges 0.6 per cent of the loan amount with a cap of Rs 12,000 while India Overseas Bank charges 0.58 per cent of the loan amount with a cap of Rs 10,190.
4. Floating interest rate of 10.26-10.30 per cent
Standard Chartered Bank offers 10.26 per cent on home loans with a processing fee of Rs 5500 plus service tax. The EMI works out to be Rs 982.
Vijaya Bank charges 10.30 per cent and the EMI works out to be Rs 985. The processing fee is 0.25 per cent of the loan amount with a cap of Rs 10,000.
5. Floating interest rate of 10.50 per cent and above
  • Deutsche Bank offers an interest rate of 10.5 per cent and a flat processing fee of Rs 12,000 plus taxes. EMI per lakh works out to be Rs 998.
  • Bank of Maharashtra offers 10.55 per cent (up to 25 lakh) and 10.75 per cent above that. Accordingly the EMI works out to be Rs 1001 and Rs 1015 respectively. Processing fee is 0.25 per cent of the loan amount subject to maximum of Rs 25,000.
  • ING Vysya offers 10.75 per cent, the EMI for which works out to Rs 1015. Processing fee is 0.5 per cent of the loan amount.
  • Development Credit Bank and Dhanalakshmi Bank offer 11.50 per cent and charge a processing fee of 1 per cent. EMI per lakh works out to be Rs 1066.
6. Fixed rates on offer
  • LIC Housing Finance offers 10.10 per cent (fixed for 2 years)
  • HDFC Ltd offers 10.15-10.65 per cent (fixed for 2-3 years) and 10.25- 10.75 per cent (fixed for 10 years).
  • Axis Bank offers 10.40 per cent (fixed for 20 years)
Look out for festive offers when processing fee is waived off and always negotiate for better rates. Request your bank official to share complete details so that there are no surprises in the form of hidden charges, pre-payment charges etc. Also, find out about special rates applicable for self-employed individuals and women.
Hope this compilation helps you in analysing what suits you best.
Source : NDTV

Thursday, 12 February 2015

43% salary increase for all categories of government employees of Andhra Pradesh

HYDERABAD: Under pressure from his Telangana counterpart to match the salary hike for government staff, Andhra Pradesh chief minister N Chandrababu Naidu on Monday announced a 43% salary increase for all categories of employees. The Pay Revision Commission (PRC) had recommended a hike of 29%, but both AP and Telangana chose to peg the increase at 43%.
The hike will come into retrospective effect from June 2, 2014. The arrears will be credited in the general provident fund account of the staff and the revised salary paid from February onwards. More than six lakh employees and pensioners stand to benefit from the salary hike. “Though the state is going through a financial crisis, we have taken this decision keeping in mind the welfare of the employees. Now, I expect them to deliver the results in the form of better governance and better revenue collections,” Chandrababu Naidu told the media while announcing the salary hike.
The hike would cost the exchequer close to Rs 7,000 crore annually. At present, excluding the hike, the state generates annual revenue of Rs 47,000 crore but has a burden of Rs 53,000 crore in the form of salaries, pensions and interests on loans.
With this increase, the salaries of AP government employees have more than doubled in the last five years. The 63 per cent hike in dearness allowance effected during the last few months and the current 43 per cent hike will result in a 106 per cent hike in the salaries of all employees working in the state government. It would be near impossible for central government employees to get their salaries doubled even in 10 years whereas the AP and Telangana employees have achieved this rare feat in just five years.
“There is no need for the state’s youth to hanker after jobs in MNCs like Google, IBM and Microsoft. Thanks to the generous pay hike and raising the retirement age to 60, working in the AP government is a far better proposition,” said APNGOs president P Ashok Babu.
In fact, just last week, the employees had agreed to a 37 per cent salary increase. “However, the announcement of 43 per cent hike by the TRS government changed everything,” sources said. “In view of the hike in Telangana, Naidu had no choice but to follow suit. Now, it is clear that the bifurcation of united AP has benefitted the state government employees the most,” remarked a senior official in the AP government.

Delhi election may prove to be beneficial for central government employees

income tax after election

Thirteen Central Government services to be put online

THIRTEEN SERVICES

Wednesday, 11 February 2015

Exemption from Physical Appearance for the Purpose of Life Certificate

Government of India
Ministry of Finance
Department of Expenditure
Central Pension Accounting Office
Trikoot-H, Bhikaji Cama Place
New Delhi — 110 066
No. CPAO/Tech/Life Certificate/2014-15/31 -72-
Dated 30.01.2015
OFFICE MEMORANDUM
Sub: Exemption from Physical Appearance for the Purpose of Life Certificate
Department of Pension & Pensioners’ Welfare in its agenda points for the ensuing SCOVA meeting on 03.02.2015 circulated vide their O.M. No. 42/39/2014-P&PW(G) dated 27.01.2015, has raised the issue of non-adherence of extant Rules with regard to submission of Life Certificate by authorized banks. It has been reported to the Department that some bank branches are insisting on personal appearance of pensioners for submission of Life Certificate alongwith PPOs.
2. Attention is invited to the amendment to the “Scheme for Payment of Pension to Central Government Civil Pensioners by Authorized Banks”, issued vide Correction Slip No. 14. The Correction Slip No. 14 facilitates the pensioners to exempt to appear physically in the bank for the purpose of Life Certificate in November every year subject to the condition that the Life Certificate must be signed by any of the authority specified in the Correction Slip No. 14 (copy enclosed).
3. Moreover, as a part of Prime Minister’s Mission “Digital India” and with the development of software application by Deptt. of Information Technology circulated as Correction Slip No. 22 to the “Scheme for Payment of Pension to Central Government Civil Pensioners by Authorized Banks”, the pensioners can prove their existence through Aadhaar based authentication of Life Certificate.
4. In the light of above, the Pension Account Holding Branches (PAHBs) of all authorized banks may be instructed to strictly adhere to the existing norms and do not harass the pensioners/family pensioners by insisting upon presenting themselves physically in the bank if their Life Certificate is submitted duly signed by the authority specified in Correction Slip No. 14 to the “Scheme for Payment of Pension to Central Government Civil Pensioners by Authorized Banks” including Aadhaar based authentication of Life Certificate.
(U.K. Saini)
Sr. Accounts Officer
source - http://www.govemployees.in/wp-content/uploads/2015/02/Download-Slip-No.-14-Slip-No.-14.pdf

Government to increase tax exemption in budget

bjt pb kesri

Saturday, 7 February 2015

Recruitment to Multi Tasking Staff in all central government departments – PDF


Request for Voluntary Retirement from Persons suffering with disability – regarding

F. No. 25012/01/2015-Estt (A.IV)
Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Personnel and Training
Establishment A-IV Desk
North Block, New Delhi-110 001
Dated: February 6th, 2015
OFFICE MEMORANDUM
Subject: – Request for Voluntary Retirement from Persons suffering with disability – regarding.
The undersigned is directed to say that many Government servants seek voluntary retirement on medical grounds. Sec 47 of the Persons with Disabilities (Equal Opportunities,Protection of Rights and Full Participation) Act, 1995 (PWD Act) lays down that no establishment shall dispense with the services of an employee who acquires a disability during the course of service. It is proposed that any Government servant seeking voluntary retirement on medical grounds may be apprised of the above provisions of PWD ACT, in order that he can take a considered decision.
2. A draft of the office memorandum to be issued in this regard is enclosed. Comments/ suggestions are invited on the proposal. Comments may kindly be sent to the undersigned by Email at dse@nic.in or by FAX at 011-23093179 by 20-02-2015
(J.A. aidyanathan)
Director(E)
Te1:23093179
SOURCE - http://www.govemployees.in/wp-content/uploads/2015/02/voluntary-retirement.pdf

Thursday, 5 February 2015

Guidelines regarding prevention of sexual harassment of women at the workplace

No. 11013/2/2014-Estt (A-III)
Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Personnel and Training
Establishment Division
North Block, New Delhi
Dated February 2, 2015
OFFICE MEMORANDUM
Subject : Central Civil Services (Conduct) Rules 1964 – Guidelines regarding prevention of sexual harassment of women at the workplace – regarding
Following the promulgation of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 [SHWW(PPR) Act] and notification of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Rules, 2013 [SHWW(PPR) Rules] on 09.12.2013, the Government has recently, on 19.11.2014, notified the amendments to Central Civil Services (Conduct) Rules 1964 and Classification, Control and Appeal Rules, 1965. The amendments and other salient features of the Act/Rules was brought to the notice of all concerned vide Office Memorandum of even no. dated 27.11.2014. The amendments to the Central Civil Services (Conduct) Rules 1964 and Classification, Control and Appeal Rules, 1965 and the Office Memorandum dated 01.12.2014 are available on the Department’s website.
2. The following guidelines, conveying the decision of the Committee of Secretaries on this subject, were issued vide this Department’s Office Memorandum No. 11013/3/2009-Estt.(A) dated 03.08.2009,
“As regards provisions for protection of women, it was suggested that the complaints committee mechanism provided under Vishakha guidelines relating to sexual harassment should be strictly in accordance with the judgment and steps should be taken to ensure that the committee is effective and functional at all times. It would also be desirable for the Committees to meet once a quarter, even if there is no live case, and review preparedness to fulfil all requirements of the Vishakha judfment in the Department/Ministry/organization concerned.”
3. As per the guidelines issued vide Office Memorandum dated 21.07.2009, it is also to be ensured that the Complaints Committee shall at all times be in existence and changes in its composition, whenever necessary, should be made promptly and adequately publicized. The composition of the Complaints Committee should also be posted on the websites of the concerned Ministries/Departments/Offices concerned.
4. Vide the Office Memorandum dated 01.12.2014, the attention of the Ministries/Departments was also invited to the reporting requirements mentioned in the SHWW(PPR) Act and SHWW(PPR) Rules.
5. All Ministries/Departments are requested to please review the progress of implementation of the existing abovementioned guidelines issued in the aftermath of the Vishakha judgment.
6. Attention of all Ministries is invited to Section 22 of the Act relating to including information in Annual Report, and to request that information relating to number of cases filed, if any, and their disposal may be included in the Annual Report of the Ministry / Department.
7. All Ministries / Departments are also requested to furnish an annual return (as on 31st March) in the enclosed proforma to this Department by 30th April every year.
(J.A. Vaidyanathan)
Director (E)
source - http://www.govemployees.in/wp-content/uploads/2015/02/Guidelines-regarding-prevention-of-sexual-harassment-of-women-at-the-workplace.pdf

Banks to pay more interest on unbroken Fixed deposits

unbroken fd

No Income tax upto income of Rs. 4 Lakhs

tax four lakhs

Sunday, 1 February 2015

All employees are required to register themselves in the Bio Metric Attendance system

F. No. 11013/9/2014-Estt.A-III
Government of India
Ministry of Personnel, PG & Pensions
Department of Personnel & Training
Estt.A-III Desk
North Block, New Delhi.
Dated:28th January, 2015
OFFICE MEMORANDUM
Sub: Introduction of AADHAR enabled bio-metric attendance system.
The undersigned is directed to refer to Secretary, DEITY’s DO letter no. SSD/DeitY/BAS/2014-74 dated 23.12.2014 (copy enclosed), observing that in many offices there is a large difference between the number of registered employees and the number of employees marking their attendance in the Biometric attendance system (BAS). The Secretaries of all Ministries / Departments have been requested to issue directions to all employees to mark their attendance in BAS Portal on regular basis.
2. As per the Guidelines issued vide O.M. No. 11013/9/2014-Estt.A-III dated 21.11.2014, it has been decided to use an AADHAR Enabled Bio-metric Attendance System (AEBAS) in all offices of the Central Government, including attached / subordinate Offices, in India. All employees are, therefore, required to register themselves in the system and mark their attendance. Instructions already exist for dealing with cases of late attendance/ unauthorized absence, which may be followed.
3. It is requested that necessary directions may be issued to all employees to mark their attendance in BAS portal on regular basis.
Sd/-
(J.A. Vaidyanathan)
Director (Establishment)
Source : DOPT

One Rank One Pension in Armed Forces soon – Defence Minister

As retried veterans of the armed forces converge on the national capital to protest non-implementation of the “one rank-one pension” (OROP) scheme on Sunday, Defence Minister Manohar Parrikar today said the modalities will be finalised by next week and the file will be sent to the Finance Ministry for further action.Parrikar, while speaking to mediapersons on the sidelines of a defence function, said: “Discussions are on to fix the modalities (for the OROP)… By next week, the view of the Defence Ministry will be formed.”The OROP issue has been fast-tracked, Parrikar said adding he had already held several meetings on it. The scheme was sanctioned by the previous government on February 17 last year. On February 26, the then Defence Minister AK Antony issued executive orders to implement OROP under the “approved” definition at the earliest.
Parrikar said as and when the exact implementation status for the scheme is finalised by the Defence Ministry, it will be sent to the Ministry of Finance. Parrikar had in December said if he could take the satisfaction level (of the retired armed forces personnel) to 80-90 per cent, it should be “a good enough solution”. This had not been taken kindly to by the veterans who wanted a clarification on what the 80 per cent satisfaction level meant.
The Indian Ex-servicemen Movement (IESM) wanted to know the formula being adopted for OROP saying it would not accept OROP other than the one already accepted by the government.
The definition accepted by the Ministry of Defence is the one the Rajya Sabha Petitions Committee chaired by Bhagat Singh Koshyari suggested in December 2011.
OROP, it said, “implies that uniform pension be paid to armed forces personnel retiring in the same rank with the same length of service, irrespective of their date of retirement, and any future enhancement in the rates of pension be automatically passed on to the past pensioners.”
Source: The Tribune

GPF and Pension Benefits to Casual Labour with temporary status regularised after 1.1.2004

No. 49014/2/2014-Estt(C)
Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Personnel & Training
North Block, New Delhi.
Dated the 29th January,2015.
OFFICE MEMORANDUM
Subject: GPF & Pension Benefits to Casual Labour with temporary status regularised after 1.1.2004 —regarding.
The undersigned is directed to say that following the issue of this Department’s O.M. No. Dated 26.04.2004, the status of admissibility of pensionary benefits to CL-TS regularised after 1.1.2004 has been a subject of litigation in a number of being contested by various Ministries/Department.
2. In order to take a view on the above issue and in view of the court rulings, it is requested that all Ministries/Departments may furnish the details of Casual Labour with temporary status (CL-TS) regularised after 1.1.2004 in the enclosed proforma latest by 07.02.2015.
3. The particulars of CL-TS yet to be regularised called for vide this Department’s O.M No. Dated 16.10.2014 may also be sent urgently, if not already sent.
sd/-
(J. A. Vaidyanathan)
Director(Estt.)
Source: DOPT

Calculation of Dearness Allowance to be announced w.e.f. January 2015

Calculation of Dearness Allowance to be announced w.e.f. January 2015

DA for January 2015
Presently, the AICPIN  for the month of December has been announced .(253) We need the AICPIN value for the past 12 months is needed to calculate DAvone will get with effect from January 2015. Accordingly, the AICPIN value of all the twelve months has been released now.Data is give below for reference:
Table showing AICPIN value of the last 12 months
Jan-14237
Feb-14238
Mar-14239
April-14242
May-14244
Jun-14246
July-14252
Aug-14253
Sep-14253
Oct-14253
Nov-14254
Dec-14253
In the above table, we can see that the AICPIN value for a period of fIve months has remained constantly at 253. If we calculate the DA, based on the AICPIN value of twelve months, we arrive at a DA value of 113%. When we compare this DA percentage with the previous one, we find that it has increased by 6%. It is expected that this 6% DA increase will be officially released in the end of February or first week of March after it is approved by the Cabinet.

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