Saturday, March 31, 2012

Karnataka Pay Commission report published. Click to Download.

Update on 06.04.12 : Pay hike may be reviewed for betterment - C.M. Assured. Click for Details
OFFICIAL PAY COMMITTEE REPORT
Revised Pay Structure & Pay Scales
(i) The State should continue to have its own Pay Structure for its employees.
(ii) The new Pay Structure is related to the index level of 191.5 points obtainable on 1.1.2012 (base 2001=100).
(iii) The concept of Master Scale with 91 stages are retained.
(iv) The Fitment Benefit is 22.5 per cent inclusive of 15 per cent Interim Relief.
(v) To retain the existing 25 standard scales, segments from the Master Scale.

AICPIN for the month of Feb'2012 released

All India Consumer Price Index Number in respect of Dearness Allowance purpose for the month of February, 2012 increased by 1 point and stood at 199 (one hundred & ninety nine).

"Defence Minister promised to remove anomalies in pension' - Army Chief

Army Chief General V K Singh on Saturday said that the Defense Minister A K Antony has promised to remove the anomalies in the pension of ex-servicemen. 

Friday, March 30, 2012

Income Tax to open on Saturday, 31st March, Bank to have extending working hours on 30th &31st .


The government today said all Income Tax (IT) offices throughout the country will remain open tomorrow to facilitate filing of returns on the last day of financial year 2011-12.
“As the financial year (2011-12) closes on March 31, 2012 falling on Saturday, all the IT offices throughout India to remain open on this day. The receipts counters will also work during normal office hours,” Central Board of Direct Taxes (CBDT) of the Finance Ministry said in a notification today.
The CBDT has also directed that special arrangements may also be made by way of opening additional receipt counters, wherever required on March 31 to help the taxpayers in filing their income returns.
View CBDT Notification
The Reserve Bank of India asked banks to have extended working hours on March 30 and 31, 2011, to facilitate receipt of government revenue from members of public even at late hours.
View RBI Notification
It has been decided in consultation with the Controller General of Accounts that all regional offices of RBI and branches of agency banks conducting government business will suitably extend the banking hours to conduct government business by keeping their counters open for the purpose on March 30 and 31, 2011, the central bank said in a statement.

This will facilitate receipt of revenue from members of public even at late hours, it said.
It will help in accounting of all the government transactions of the current financial year (2010-11) by March 31, 2011, it added.


Air India staff called of strike, wages to be cleared by June


The Air India employees’ union has decided to call off the proposed strike which was to start from April 2.
Airline sources indicated that this emerged after a meeting between a meeting of the Air India CMD, Mr Rohit Nandan, and representatives of the eight unions.
The unions were striking to protest against the delay in receiving their salaries. They claimed that the employees had not been paid for several months.
Confirming that the strike has been called off, Mr Nandan said that the union has agreed to a management proposal for payment schedules so that all the previous wages will be cleared by June.

Wednesday, March 28, 2012

Central Govt. declared holiday on 14th April

The Government has  decided to declare tje saturday, the 14th April 2012, as a Closed Holiday on account of the birthday of Dr. B.R. Ambedkar, for all Central Government Offices including Industrial Establishments throughout India.
View the Order

Tuesday, March 27, 2012

CBEC have to wait for cadre review

The Joint Action Committee leaders of Central Excise Officials met the Member (P&V) of Central Board of Excise and Customs today for Cadre Restructuring in Customs and Central Excise at the Member’s chamber as scheduled for meeting.

Govt. Introduces Sabbatical Leave upto 2 Yrs to Women Employees In Banks

Government of India has advised the Chief Executive Officers of all Public Sector Banks to introduce Sabbatical leave to the Women Employees of Public Sector Banks to meet their special problem during their career on the following broad terms:

Rajasthan hiked D.A. for employees and pensioners, Issued Order

Rajasthan Govt. followed Central suite, perhaps the first in the row. It granted 7% hike in D.A. for employees and Dearness Relief to pensioners with effect from 1st January 2012. The amount of arrear from Jan to Mar 12 will be credited to GPF for employees and the they will recieved in cash with effect from 01.04.2012 ( on 01.05.12, with the salary of April 2012)
View the Order of D.A. for employees
View the Order of D.R. for pensioners

Monday, March 26, 2012

Maharashtra employees warned statewide agitation for D.A. with retrospective effect


Two days after the central government announced seven percentage point increase in dearness allowance, state government employees demanded they too get the same benefit with retrospective effect from January 1, 2012.

Small savings interest rates to go up

Update on 26.03.12 : Rate Hiked
The government is likely to hike the interest rates on deposit schemes offered by post offices such as savings account, Monthly Income Scheme and Public Provident Fund by about 0.25 per cent from April 1. A circular on the revised interest rates of small savings schemes will be issued by March 28, official sources said, adding that there could be a 0.25 basis points hike in the rates. 
Source : The Telegraph

Friday, March 23, 2012

Cabinet nods, Central D.A. hike from January'12 announced

The long wait is over. The Union Cabinet today gave its approval to release an additional instalment of Dearness Allowance (DA) to central government employees and Dearness Relief (DR) to pensioners w.e.f. 1.1.2012 representing an increase of 7% over the existing rate of 58% of the Basic Pay/Pension, to compensate for price rise. The increase is in accordance with the accepted formula, which is based on the recommendations of the 6th Central Pay Commission. The combined impact on the exchequer on account of both dearness allowance and dearness relief would be of the order of Rs.7474.53 crore per annum and Rs.8720.32 crore in the financial year 2012-13 (i.e. for a period of 14 months from January, 2012 to February, 2013). 
Source : PIB Press Release

Air India staff threaten strike from April 2 on salary issue

The debt-laden national carrier Air India is set for more trouble with its employees, who have not been paid their dues for the past five months,threatening to go on strike from 2 April , as three rounds of talks with management failed here.

Thursday, March 22, 2012

Karnataka Pay Commission : More details about pay, allowances, retirement benefits

After six years, the State government on Wednesday proposed to effect revision on salaries of its employees, based on the recommendations of the official pay committee constituted in June 2011.
As per the committee’s recommendation, the total hike in salaries is 22.5 pc, inclusive of 15 pc interim relief, which was announced in November, 2011. 

Cabinet to approve hike in D.A for Central employees today

Lakhs of Central government employees and pensioners are likely to get a hike of seven per cent of their basic emoluments. This proposal is high on the agenda of Thursday’s Union Cabinet meeting.

Wednesday, March 21, 2012

Kerala will not roll back retirement age hike, assures C.M, issues Notification

 The Kerala government has no plans to relook into its decision of fixing 56-years as retirement age of its employees, but was ready to consider any suggestions to address grievances of the youth, Chief Minister Oommen Chandy said Wednesday.
Update on 28.03.12 : Kerala Issued Gazette Notification

Bonanza for Karnataka employees with effect from April 1

Karnataka Chief Minister D V Sadananda Gowda today announced acceptance of the recommendations on pay and allowances of a pay committee and said it would be given effect from April one benefiting about 5.5 lakh government employees.

Karnataka accepts pay commission proposals, D.A to be merged alongwith 22.5% increase

Recommendations of the official pay committee for government employees would be given effect from April 1, Gowda said, adding that the existing dearness allowances and installment due as on January 1 this year would be merged in the basic pay and pension along with 22.5 per cent increase.

Karnataka budget is being presented in the assembly

Karnataka Chief Minister and Finance Minister Sadananda Gowda has begun his budget speech in state assembly today March 21 2012 . 
It is expected that there will be some good news for the state Govt. employees in this budge. Please be in touch for latest update.

Andhra Pradesh hiked salary, allowances for ministers

Salaries and allowances of Chief Minister and ministers in Andhra Pradesh have been enhanced significantly with the state Assembly on Tuesday approving an amendment to the relevant act.

Tuesday, March 20, 2012

GPF interest rate hiked


The Central government announced vide  F.NO. 5(1)-B(PD)/2011 dated 19th March, 2012  that General Provident Fund and other similar funds shall carry interest at the rate of 8% (Eight per cent) for the period from 1.4.2011 to 30.11.2011 and should be 8.6% (eight point six percent) with effect from 1.12.2011. The funds concerned are:—
1. The General Provident Fund (Central Services).

Monday, March 19, 2012

Himachal declares 7% D.A. in budget, other benefits. D.A. Order Issued

Highlights for Employees :
 7% DA to be released to employees along with current month's salary and arrears from July, 2011 with the salary of April, 2012. 
 Pensioners to be released 7% DA along with arrears and also the pay revision arrears in April 2012 in cash.
View the D.A. Order Dated 21.03.12

One time increment between Feb and June : Order issued

The long wait is over. Finally the Govt. issued order for one time increment for those whose date of increment was between Feb and June 2006. They were earlier deprived of order one increment. With this order, the anomaly is removed. But this is granted as only one time measure.
"....President is pleased to decide that in relaxation of stipulation under Rule 10 of these Rules, those central government employees who were due to get their annual increment between February to June during 2006 may be granted one increment on 1.1 .2006 in the pre-revised pay scale as a one time measure and there after will get the next increment in the revised pay structure on 1.7.2006 as per Rule 10 of CCS(RP) Rules, 2008. The pay of the eligible employees may be re-fixed accordingly...."
Click here to view the order

Chhattisgarh promised D.A. at par with Central employees, launches Health Insurance Scheme

Chief Minister Raman Singh, who holds the additional portfolio of finance department, announced the launch of ‘Chief Minister Health Insurance Scheme’ while presenting the state budget 2012-13 in the Chhattisgarh Legislative Assembly on Sunday afternoon. A provision of Rs 60 crore had been made in the budget outlay for the next fiscal. 
“Chhattisgarh would be the first state in the country to launch such a health insurance scheme that would leave no one living in the state uncovered,” Singh said. The scheme will not have any disparity between rich and poor and anyone can avail the benefits.
Singh said the insurance cover would be provided to each family. The members in the family would get a free health care upto Rs 30,000. In all 5.62 million families in Chhattisgarh would be benefited with the scheme.
The state government employees will have reason to cheers. Singh announced that the disparity in the dearness allowance (DA) rates between central and state government employees will be removed during the next fiscal.For the first time,  
Source : Business Sandard

Sunday, March 18, 2012

CENTRAL D.A. TO BE ANNOUNCED ON 22ND MARCH

The Central government on thursday i.e.22/03/2012 will announce to release of seven percent Dearness Allowance (DA) to its employees and pensioners. 

Friday, March 16, 2012

Rajiv Gandhi Equity Savings Scheme Launched

A new scheme called Rajiv Gandhi Equity Savings scheme is proposed in the Union Budget 2012-13 to encourage flow of saving in financial instruments and improve the depths of domestic capital market. 

Performance linked incentive for central employees soon

Government on Thursday said that it was working on guidelines through inter-departmental consultations to give performance-based incentives to its employees over and above their regular salary. 
"The sixth Central Pay Commission (CPC) has recommended introduction of new performance based pecuniary benefit, over and above the regular salary, for government employees," MoS for department and personnel V Narayanasamy told the Rajya Sabha in a written reply. 

Union Budget 2012-13 Highlights


·         Budget identifies five objectives relating to  growth recovery, private investment, supply bottlenecks, malnutrition and governance matters
·         GDP growth to be 7.6 per cent (+ 0.25 percent) during 2012-13

Budget 2012 : Flash News

Income Tax deduction of 50 per cent on investments of up to Rs 50,000 in savings scheme named after Rajiv Gandhi. 
locking period in Rajiv Gandhi Equity scheme will be 3 years 
1 % rebate in interest rate for Home Loan upto Rs 25 lakh 
Direct Tax Code (DTC) Bill to be enacted at the earliest, says FM 
no change in Corporate Income Tax limit 

Proposal to increase Income Tax Exemption limit to Rs 2.0 Lakh from Rs 1.8 lakh 

Incomes up Rs 5 lakh will now fall in the 10 per cent tax bracket. 

 Income Tax upto 10 Lakh: 20 percent , 30 percent tax for income above 10 lakh

Interest income of up to 10 per cent to be exempted from tax. 

Upper limit raised from Rs 8 lakh to Rs 10 lakh for 20 per cent bracket. 
Tax exemption of up to Rs 5,000 for health insurance for annual preventive health checkup. 
Standard excise duty rate raised from 10 per cent to 12 per cent. 




Watch this blog for complete highlights of he budget, to be published shortly.

EPF interest slashed to 8.25%


Government on Thursday slashed interest rate on deposits in Employees Provident Fund from 9.5 per cent to 8.25 per cent for 2011-12 affecting over 4.7 crore subscribers.
This cut was proposed by the Finance Ministry and a notification was issued by the Labour Ministry, official sources said.
The Employees' Provident Fund Organisation (EPFO) had provided 9.5 per cent interest rate to its subscribers for 2010-11 after it found Rs 1,731 crore surplus in its books of account.

Thursday, March 15, 2012

U.P. Chief Minister, Mr Akhilesh Yadav announces bonanza


Keeping its promises, Akhilesh Yadav-led Uttar Pradesh Cabinet on Thursday decided to provide tablets to high school and laptop to intermediate passouts.
The Uttar Pradesh Chief Secretary also announced that unemployment allowance of Rs 1000 per month will be given to over 9 lakh people above 35 years of age.
All Muslim girls who have passed class 10th will get Rs 30,000, the Chief Secretary said

Wednesday, March 14, 2012

Rail Budget 2012: Fares increased across all classes


  • Highlights of Rail Budget :
  • Exp train fare up by 5 paise per km, 10 paise per km for AC chair car, 10 paise per km for AC 3-tier, 15 p per km for AC 2-tier, 30 paise per km for AC First class.
  • Passenger fare for sub-urban trains hiked by 2 paise per km, mail trains by 3 paise per km.

Karnataka Govt. kept pay commission report "secret", 50% hike and 5 days week expected

The Official Pay Committee has submitted to Chief Minister D V Sadananda Gowda its much-awaited report on revision of the State government employees’ salary.
However, the government has kept the report under wraps. The chief minister is likely to incorporate some of the committee’s recommendations in the 2012-13 budget scheduled to be presented on March 21. 

Tuesday, March 13, 2012

Karnataka Pay Commission submitted report, pay hike likely to be effected in the budget, March 21

Bangalore, Mar 13 (PTI) An official committee set up to recommend revision of pay to Karnataka Government employees headed by Development Commissioner and Additional Chief Secretary Subir Hari Singh has submitted its report to the state government. The comittee submitted the report to Chief Minister D V Sadananda Gowda yesterday, official sources said. The committee was set up last year following the demand by the government employees to recommend ways to remove anomalies between the pay scales of the State and Union Government employees, subsequent to the implementation of the Sixth Pay commission by the Centre. The Chief Minister, who also holds the Finance portfolio, is expected to announce the pay hike for nearly six lakh government employees in the State budget to be presented in the state legislature on March 21. 

Central D.A. likely to be announced on 15th.

Central employees have reason to cheer. The much awaited D.A. from January 2012 is likely to be announced on thursday, the 15th March. The cabinet is likely to give it's nod for 7% increase on 15th March. With this hike the total D.A. is to be 65% of Basic Pay.

Monday, March 12, 2012

Indian Army signs MOU with Kotak Mahindra Bank, for Salary2Wealth Account


Higher rate of Interest of deposit and concessional rate on loans are the main features
Kotak Mahindra Bank (KMB) signed a Memorandum of Understanding (MoU) with the Indian Army for offeringSalary2Wealth account to all its personnel today at New Delhi. 

Sunday, March 11, 2012

Karnataka employees to protest on 15th March for paycommission


State government employees will stage a protest on March 15 demanding, among others, implementation of Sixth Pay Commission's recommendations. The employees will organise a programme to discuss service-related issues on Sunday.

Friday, March 9, 2012

Parliamentary panel submits report on Direct Tax Code, suggests bonanza for taxpayers

Raise I-T exemption limit to Rs3 lakh, says parliamentary panel on DTC

Besides hiking the income tax exemption to Rs3 lakh from Rs1.8 lakh at present, the Standing Committee on Finance also suggested that 10% tax be levied on taxable income between Rs3-Rs10 lakh, 20% between Rs10-Rs20 lakh and 30% over Rs20 lakh

Thursday, March 8, 2012

W.B. cuts pay for strike, invokes diesnon


The state government has decided to cut a day’s salary of employees who skipped work on the day of the Citu-sponsored general strike on February 28, but spared them the break-in-service clause it had threatened to invoke.
View the Order

Wednesday, March 7, 2012

Stepping up of pay of promotee Inspectors of Central Excise & Customs


The Central Board of Excise and Customs (CBEC) has considered various proposals for  stepping up of pay of senior promote Inspectors/Similarly placed Officers in the field formations under CBEC with reference to such of their directly recruited juniors appointed on or after 1.1.2006.  Now the CBEC has issued clarification that stepping up of pay of promottee Inspectors vide F.NO. 26017/159/2009-Ad.II(A)  dated 5th March, 2012
Copy of the clarification order is placed below for ready reference.

Tuesday, March 6, 2012

West Bengal to introduce bio metric attendance

 Government employees can no longer sneak a French leave or walk out before 5.30pm. The Mamata Banerjee government is installing fingerprint readers that will record the time an employee logs in and logs out of office.

Monday, March 5, 2012

Karnataka staff demand pay revision, threaten strke


The Karnataka State Government Employees Association on Sunday sought revision of the salary structure of the state government employees.

The association also threatened to go on a strike if the government fails to do so in the coming budget. 

Saturday, March 3, 2012

Parliamentary committee suggests I.T. exemption limit to raise to Rs 3 lac

 The Parliamentary standing committee on finance has recommended an increase in basic tax exemption limit to Rs 3 lakh and another Rs 3.20 lakh rebate for eligible investments and spending in its report on the direct taxes code, or DTC. The panel is not for any relief for corporate tax payers and has recommended retaining the corporate tax rate at 30% as against 25% proposed. 
                                                                     

Friday, March 2, 2012

West Bengal draws up strike absentee list


The Mamata Banerjee government is compiling a list of those who were absent on the bandh day. 
Chinmay Chakraborty, joint secretary of the state home (political) department , has written to all department authorities to submit the list of absentees by 5pm on Wednesday. By evening, the list was prepared by each of the departments, and sent to the home (political) department. At Writers’ Buildings, 1,295 employees were absent on Tuesday, which is 16% of the total strength of Writers’ . 

Thursday, March 1, 2012

AICPIN for the month of January, 2012

All India Consumer Price Index Numbers for Industrial Workers 
           
All India Consumer Price Index Number for Industrial Workers (CPI-IW) on base 2001=100for the month of January, 2012 increased by 1 point and stood at 198 (one hundred & ninety eight).

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