Tuesday, December 6, 2016

Bank unions threaten to agitate, plan strike against work pressure

Bank unions are planning agitation, including strike, to highlight the heavy work pressure faced by employees in the wake of demonetisation and lack of improvement in supply of currency notes. 

While the government and the Reserve Bank of India (RBI) say there has been some improvement in supply for currency notes in the system, the ground reality is different, say the unions. 

C H Venkatachalam, general secretary of All India Bank Employees Association (AIBEA), told Business Standard that if the problems for bank employees continue, the unions would be compelled to strike. 

Wednesday, November 30, 2016

Salient features of 7th Assam Pay & Productivity Pay Commission:

Download the report
State Finance Minister Himanta Biswa Sarma has announced the recommendations made by the 7th Assam Pay & Productivity Pay Commission today on 28th November 2016. He said that the government will implement the recommendations of the 7th Assam Pay & Productivity Pay Commission from April next year. Earlier, the 7th Assam Pay Commission submitted its report to chief minister Sarbananda Sonowal on 18th November 2016.
He further added that the recommendations made by the State Pay Commission would be placed before the cabinet for approval in February following which it will be implemented from April, 2017. On the other hand, the dearness awareness (DA) will be increased with retrospective effect from January 1, 2016.
1.The minimum pay has been fixed at Rs 15,900 which is around 2.62 times the minimum pay recommended by the Assam Pay Commission 2008.

Saturday, November 26, 2016

WB Govt. will take strict action for absence on 28th and 29th Nov due to "Bandh"

"Now, the Governor has been pleased to decide that absence of employees on those dates will be treated as dies non and no salarywill be admissible unlesssuch absenceis covered by grounds as mentioned in Finance Department Memorandum No. 2013-F(P)dated 06.03.2012 which are reproduced below:
 a} Hospitalisation of the employee 
b) Bereavement in the family 
c} Severe illness and absencec ontinuing from before 
d) Employees who had been on Child Care Leave, Maternity Leave,Medical Leav eand Earned Leave Sanctioned and continuing prior to issue of this order 
e) Compelling reasons of similar nature, where the employees could not report for duty for circumstances beyond his/her control. (Specific reasons with documentary proof will haveto be furnished in each case). 
It is mentioned here that dislocation of traffic will not be a reason for granting leave"
Click here for full Circular

Wednesday, November 23, 2016

Central employees likely to get new allowances from January'17

It is reported from sources in the Ministry of Finance that centre likely to start disbursing allowances at higher rate in the next calendar year.
It is learnt that due to demonetization and cash crunch, the process is delayed. It is likely to be paid from January 2017. 
Regarding date of effect, though the decision is yet to be taken but it is widely anticipated that fatter allowances will be effected from August 2016 and arrears to be paid in one go in January 2017.
As far as rate of allowances, the source added that the committee will stick to the pay commission recommendation. So the possibility to get something higher looks remote.
It is also reported that Govt. may consider only against abolishing of a few allowances as a populist measure.

Income Tax warns account holders against depositing black money into their account

In a press statement Income Tax department cautioned account holders against depositing others money into their bank account and helping conversion of black money. It is reminded that there is no such immunity of depositing upto Rs 2.5 Lac and though within this threshold limit , it may be investigated if found suspicious.
"It was announced by the Government earlier that small deposits made in the banks by artisans, workers, housewives, etc. would not be questioned by the Income Tax Department in view of the fact that present exemption limit for Income Tax is Rs.2.5 lakh. Reports are being received of instances where people are using other persons’ bank accounts to convert their black money into new denomination notes for which reward is also being given to the account holders who agree to allow their accounts to be used. This activity has been reported in case of Jan-Dhan Accounts also. It is hereby clarified that such tax evasion activities can be made subject to Income Tax and penalty if it is established that the amount deposited in the account was not of the account holder but of somebody else. Also the person who allows his or her account to be misused for this purpose can be prosecuted for abetment under Income Tax Act. However, genuine persons depositing their own household savings in cash into their bank accounts would not be questioned. The people are requested not to get lured by black money converters and be a partner in this crime of converting black money into white through this method. Unless all citizens of the country help the Government in curbing black money, this mission of black money will not succeed. Also the people who are against the black money should give information of such illegal activities going on to the Income Tax department so that immediate action can be taken and such illegal transfer of cash can be stopped and seized. Black money is a crime against humanity. We urge every conscientious citizen to help join the Government in eradicating it."
Click here for the Press Release

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