Thursday, August 31, 2017

Consumer Price Index for Industrial Workers (CPI-IW) – July, 2017

The All-India CPI-IW for July, 2017 increased by 5 points and pegged at 285 (two hundred and eighty five).

Wednesday, August 30, 2017

7th Pay Commission: Odisha to implement salary hike from Sept

Odisha government on Wednesday announced implementation of the Seventh Pay Commission recommendations in the state.
Chief Minister Naveen Patnaik informed that the state government employees will get the pay hike from September's salary onwards.
"My government has decided to implement the recommendations of the committee constituted for examination of 7th Central Pay Commission report and its adoption for the state government employees," said Chief Minister Naveen Patnaik.
This will benefit over 4.5 lakh state government employees and 3.5 lakh pensioners in the state.
The arrear payments are being worked out, said the Chief Minister.
The state will have to bear annual expenditure of about Rs 4,500 crore for execution of the Seventh Pay Commission.
The state government was under constant pressure for some time from employees unions as the the Seventh Pay Commission Recommendations have been implemented with effect from 1 January, 2016 in some states and the central government.
Source : Zee News

  • Group D employees will get a monthly basic salary of Rs 18,000 as per the 7th Pay panel recommendations as compared to the present salary of Rs 6,450
  • Group C employees will draw basic salary of Rs 19,900 whereas the present salary is Rs 7,100
  • Group B employees will now be paid a basic salary of Rs 35,400 monthly as against Rs 13,500 at present
  • Group A employees will get Rs 56,100 as basic salary as compared to Rs 21,000 currently.
  • Group A OAS employees at the top most level will draw a salary of around Rs 1,44,200
  • Salary of IAS officers will increase to Rs 2,25,000

Tuesday, August 29, 2017

Fee for default in furnishing return of income

For the current financial year (2017-18), a new late fee has been introduced for late filing of Income Tax return.
Fee for default in furnishing return of income.
234F. (1) Without prejudice to the provisions of this Act, where a person required to furnish a return of income under section 139, fails to do so within the time prescribed in sub-section (1) of the said section, he shall pay, by way of fee, a sum of,
 (a) five thousand rupees, if the return is furnished on or before the 31st day of December of the assessment year;
 (b) ten thousand rupees in any other case:
Provided that if the total income of the person does not exceed five lakh rupees, the fee payable under this section shall not exceed one thousand rupees.
(2) The provisions of this section shall apply in respect of return of income required to be furnished for the assessment year commencing on or after the 1st day of April, 2018.

Saturday, August 26, 2017

Bonus for Bank employees : Reasons to cheer

"Payment of Bonus Act was amended recently. As per the amended provisions the ceiling on salary and wage has been increased from Rs.10000/- to Rs.21000/- per month. As such, employees whose salary/wage does not exceed Rs.21000/- per month are now eligible for bonus.
It has been decided to pay Bonus at the rate of 8.33% of salary to all the eligible employees for the period 01.04.2016 to 31.03.2017.
Salary for this purpose includes 1) Basic pay (including FPP & PQP) 2) Special Pay 3) Dearness Allowance 4) Special Allowance with DA only."
Above narration is taken from a circular from Andhra Bank dated 18.08.2017.

Tuesday, August 22, 2017

Odisha employees likely to get revised pay soon

Here is the music to ears for the State Government employees ahead of Dusshera as Chief Minister Naveen Patnaik is all set to enforce the 7th Pay Commission before the Puja vacation begins.
The report submitted by the State Fitment Committee as per the 7th Pay Commission is under scrutiny for the government to take decision accordingly, Finance Minister Sashi Bhushan Behera said on Monday. He also hinted on the implementation of 7th Pay Commission as soon before the Durga Puja but chose to keep mum on the date of implementation as CM will take the final call.
As per reports, the government may enforce the pay hike effective from 2016 besides the arrear which will be added to the employee’s salary in the next phase. This hike will increase the financial burden of Rs 5,500 crore on the state treasury.
If the State government follows the Central government pattern for implementing the hike, the overall salary will increase by 23 per cent.

Procedure for booking of air-tickets on LTC - clarification

Whether non- entitled Govt. servants to follow booking procedure through authorized agents only ?
DoOPT clarifies as under :
"The matter has been examined in consultation with Department of Expenditure, Ministry of Finance and it is hereby clarified that in case of non-entitled Government servants travelling by air on LTC and claiming entitled rail fare, the condition of booking the air tickets through authorised travel agents viz. 'M/s Balmer Lawrie & Company', 'M/s Ashok Travels & Tours' and 'IRCTC' may not be insisted upon. In rest of the cases, the condition of booking the tickets through authorised modes shall continue to follow." 
Click here for the Clarification dated 21.08.2017

Friday, August 18, 2017

Comparison of salary between Bank P.O. and Income Tax Inspector

Negotiation on 11th Bank Bipartite is currently on the initial stage. A number of sub committees are being formed and it will certainly take some time to mature the wage deal. 
Before implementation of sixth pay commission for central employees, bank officers and employees were certainly in better position in terms of wages compared to central counterparts. But sixth pay commission came as a game changer and took the central employees in a higher paid category. The earlier bipartite for bank employees (10th Bipartite) could not bridge the gap completely. Now Central Govt. introduced seventh pay commission and implemented it in a phased manner. With effect from 1st July 2017, all hiked allowances were also released and though the increase is not fair enough comparing to the sixth pay commission, it can be said that employees are being paid quite handsomely now.
Let's have a quick look on the starting salary of a Bank PO and Income Tax Inspector.
Bank PO. as on 1st Nov 2016
Basic Pay 23700
DA           12206.69
Spl All.     1836.75
CCA           870
HRA         2133
TOTAL    40,746.54  (In A Class Cities)
(SBI POs are paid four increments extra at the initial stage and thus their Gross Salary will be about Rs 6000 higher)
(Bank PO salary has been taken from allbankingsolution.com)
Income Tax Inspector as on 01.07.2017
Basic Pay                    44,900
DA                                 1796
HRA                            10776
Tr All                             3744
Conveyance All             2100
(Cost of 30 Lt Petrol)
TOTAL                         63,316     (In Major Cities)   
(In addition, Central employees are entitled to Children Education Allowance/Hostel Subsidy @ Rs 2250/6750 per child per month (Max 2)

Children Education Allowance, Hostel subsidy hiked for Central staff

Consequent upon the decision taken by the Government on the recommendations made by the Seventh Central Pay Commission on the subject of Children Education Allowance Scheme, the following instructions are being issued in supersession of this Department’s OM dated 28-4-2014 : –
(a) The amount fixed for reimbursement of Children Education allowance will be Rs.2250/-pm.
(b) The amount fixed for reimbursement of Hostel Subsidy will be Rs. 6750/-pm.
(c) In case both the spouses are Government servants, only one of them can avail reimbursement under Children Education Allowance.
(d) The above limits would be automatically raised by 25% every time the Dearness Allowance on the revised pay structure goes up by 50%. The allowance will be double for differently abled children.
Reimbursement made simple :
" Further, reimbursement will be done just once a year, after completion of the financial year. For reimbursement of CEA, a certificate from the head of institution, where the ward of government employee studies, will be sufficient for this purpose. The certificate should confirm that the child studied in the school during the previous academic year. For Hostel Subsidy, a similar certificate from the head of institution will suffice, with the additional requirement that the certificate should mention the amount of expenditure incurred by the government servant towards lodging and boarding in the residential complex. The amount of expenditure mentioned, or the ceiling as mentioned above, whichever is lower, shall be paid to the employee."

Wednesday, August 16, 2017

Himachal Pradesh announces 4 per cent DA to employees and pensioners

 Himachal Pradesh Chief Minister Virbhadra Singh on Tuesday announced additional Dearness Allowance (DA) to state government employees and pensioners from January 2017 to be paid in October besides announcing a Government Degree College at Jeuri.
Counting the achievements of the state government, he said the state government declared unemployment allowance of Rs 1,000 per month to educated unemployed youth. The youth with disability were being given unemployment allowance of Rs 1,500 per month.
Singh said emoluments of contract employees had been enhanced from 50 to 75 per cent of grade pay and wages of daily wagers had been increased from Rs 150 to Rs 210. He said the government had announced regularisation of contract employees after three years of service besides many other benefits to employees and pensioners.

Tuesday, August 1, 2017

BANK DA GOES UP WITH 22 SLABS FOR AUG TO OCT 17

Update : IBA issued Circular
Click here for D.A. for Officers and staff
Click here for D.R. for Pensioners
Click here for D.A. for pre 1.1.86 retirees
Labour Bureau,Ministry of Labour and Employment,Govt of India,has released , the All India Consumer Price Index Numbers (AICPIN)for Industrial workers(IW) Base 2001=100 for the month of June’17,to day which stood at 280 points with an increase of 2 points while compared to May’17 figure.
                   Thus, the confirmed All India average CPIN(IW) for the  last quarter are as follows:
                 Base 2001=100                    1960=100
April’17        277                                        6322.77                                                           
May’17        278                                         6345.60  
June           280                                         6391.25  
Average  :6353     SLABS 478. Increase 22Slabs (old 456)
                                                                                           

                   As such,   Bank workmen / Officers  may have 22 slabs increase in DA payable for next quarter – August’17 to Oct’17.
ie:  47.80% from 45.60% of last quarter.

​Provided by Mohan.P

Consumer Price Index for Industrial Workers (CPI-IW) — June, 2017

The All-India CPI-IW for June, 2017 increased by 2 points and pegged at 280 (two hundred and eighty). 

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