Friday, July 23, 2010

Cabinet approves continuation of Passes to Railway Employees & Pensioners

Bank Pension Madras High Court Update(22/07) : The case at Madras HC gets listed everyday, but could not come up for hearing because of lengthy arguments from both the sides in the cases listed earlier to it. Probably next week there may be a chance for being heard.

The General Secretary of IRTSA has written in his website regarding this pass issue. We reproduce the total content of the post in our blog for your information...

It is heartening that the Union Cabinet has approved the continuation of Passes to Railway Employees & Pensioners on July 15, 2010 at the instance of the Railway Minister Mamata Banerjee – finally over ruling the recommendations of the Expenditure Reforms Commission - made in 2004 for discontinuation of the Passes to Railway Employees & Pensioners.

According to reports appearing in a section of Press (including ‘The Tribune’, Chandigarh), an in-house Committee set up by the Railway Ministry had assessed the annual expenditure - as Rs.528 crores - on Passes to 14 lakh Railway Employees & Rs.57 crores on Passes to 12 lakh Pensioners (as in 2004) – with an estimated cost of Rs.3311 per pass for serving employees and Rs.498 per pass of Pensioners.

However, according to an estimate of IRTSA team, the actual impact on the Railways is much less due to only partial utilization of the Passes by the Railway Employees & Pensioners - considering that only a fraction of the journey is actually performed by them than for which the Passes are actually issued. Many of the Railway Employees & Pensioners don’t even take a single set of pass or not at least full complement thereof as per their entitlement in a year – due to localized settlement and lack of resources to meet with the over head expenses of a journey.

But the Financial people while calculating financial impact of such privileges don’t look at all these factors. Apparently the estimated figure of expenditure of Rs.471 crores p.a. on Passes for Railway employees and Rs.57 crores p.a. on Passes to the Pensioners - as worked out by the said Committee - was much on the higher side considering the above said factors.

Source : 90paisa.blogspot.com

2 comments :

Bubble said...

continue with pass during service and after retirement also.... Check allcgnews.blogspot.com

http://allcgnews.blogspot.com/2010/07/cabinet-approves-continuation-of-passes.html

SHANKAR said...

TO BANK OFFICERS:-
ENCASGHMENT OF ACCUMULATED LEAVE UP TO 240 DAYS AT THE TIME OF RETIREMENT/UP TO 30 DAYS AT THE TIME OF AVAILING LFC.
As per Service Regulations applicable to Bank Officers they are entitled to encash their accumulated leave up to 240 days at the time of retirement and while availing LFC once in 4 years up to 30 days OR 15 days once in 2 years.
For the purpose of encashment of leave entire last drawn gross salary(BP+DA+ACTUAL HRA DRAWN+CCA+PQP+FPA+OFFICIATING ALLOWANCE ETC)at the time of retirement OR at the time of availment of LFC should be taken into account.(HRA @ 150 % OR 100 % of Basic Pay + Special allowances ranking for superannuation benefits to those who are drawing HRA either on rent receipt basis OR on capital cost basis).
For other officers who are not drawing HRA but availing Quarters reimbursement facility, notional HRA @ 100 % of BP+Special allowances should be taken in to account.
However, in some banks even for officers who are drawing HRA @ 150 % of BP+Special allowances,instead of paying 150 %HRA only 100 % HRA is taken into account and they are loosing 50 % of HRA per month while encashing.
All those officers who are in service/retiring/retired may note the above.

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