Friday, May 31, 2013

Consumer Price Index Numbers for Industrial Workers (CPI-IW) April 2013

Consumer Price Index Number increased by two points for April 2013
According to a press release issued today by the Labour Bureau, Ministry of Labour & Employment the All-India CPI-IW for April, 2013 rose by 2 point and pegged at 226 (two hundred and twenty six). On 1-month percentage change, it increased by 0.89 per cent between March and April  compared with 1.99 per cent between the same two months a year ago. 

Wednesday, May 29, 2013

Central Govt. considering retirement age hike

Retirement age to be increased ?
The Union Government is seriously considering raising the retirement age to 62 for Central Government employees. Obviously, if the Congress announces this before the Lok Sabha polls, it could expect a sizeable vote share. North Block, which houses the Union Ministry of Finance would be more than happy to have 62 years as the retirement age because for next two years the pension funds can accumulate. The UPA2 also wants to put the next government in fiscal tight spot, or what is called the War Room effect of the AICC. 
News Source : Rediff News
Click here to view Mr Bibek Debroy's article in Economic Times.

Likely IDA increase for PSU employees from July 2013

Update on 28.08.13 : With the release of Index No. of May'13, the calculation is modified to 4%
Click here to View details
Update on 1.6.213 : With the release of consumer price index no. for April'13, the prediction of IDA increase is modified to 3.5%.
Though it is too early to predict the IDA increase from July, 2013, still it is gathered that there is a possibility of 2.4% increase from 1st July 2013, taking the total IDA to 77.3%.
It may kindly be considered as an assumption and any further calculation, if arrived will be informed in due course.

Gujarat to disburse pay arrears in cash

The State government has decided to pay in cash the fifth installment of arrears of increased salary allowance of sixth pay commission to its employees. The pro-employee announcement came just a week after the state government announced 8% increase in dearness allowance (DA) for the employees.

Tuesday, May 28, 2013

Details of UFBU meeting with IBA Chairman on 23.05.13

UFBU meeting was held on 23.5.2013 at New Delhi in the AIBEA Office.   Com. Ashwani Rana, (General Secretary of NOBW) presided over the meeting.  All the nine constituent unions were present in the meeting.

Monday, May 27, 2013

Andhra Pradesh and Madhya Pradesh hikes Dearness Allowance

Andhra Pradesh
The Andhra Pradesh State Government has announced a hike of 6.848% percent in the Dearness Allowance (DA) for its 12 lakh employees and pensioners with effect from January first, 2013. The orders in this regard will be released soon.

      The government would credit 4 months DA from January to April, 2013 in the Provident fund accounts of employees and from May it would be paid along with June salary, according to a finance department official. It is learnt the Chief minister cleared the DA increase file on Friday.
    Once the hike is cleared by the cabinet, the current DA which stands at 47.93%, will go up to 54.78%.

Madhya Pradesh

Madhya Pradesh government has hiked by eight per cent the dearness allowance (DA) of employees with effect from January 1, 2013.
This was announced by Chief Minister Shivraj Singh Chouhan on Saturday while laying the foundation stone for several developmental projects worth Rs 27.66 crore at Budha village in Mandsour district.
With the revised allowance, state employees will now be entitled to a total of 80 per cent DA along with their salaries, sources said on Sunday.

Saturday, May 25, 2013

Mandatory efiling for income exceeds 5 lac

A person having total income more than 5 lac for the Financial Year 2012-13 has to file his return of income electronically. It is mandatory for all taxpayers for A.Y 2013-14 and subsequent years.
CBDT has issued notification in this regard on May 1, 2013.
View the notification
Click here to file your return electronically.

Friday, May 24, 2013

Customs/ Central Excise : Restructure is on the way

CBEC Cadre Review Update
In line with recent cabinet nod to Income Tax cadre review,there is another proposal for a cadre restructuring of Central Board of Excise & Customs (CBEC). This will add 20,000 officers to its existing workforce of 66,808 officers, taking it to 86,808, and this may give additional revenue of about Rs 68,000 crore.
The CBEC’s proposal may take a little longer as it is running behind CBDT proposal in terms of securing some key approvals. The proposal was recently approved by Chidambaram. It will now have to be cleared by the Department of Expenditure and then the Department of Personnel and finally the Cabinet.
So, both the proposals would add to extra over Rs 93,000 crore a year to the government kitty. This means that each employee will add to Rs 2.28 crore a year to the government kitty on an average.
The additional revenue will be over and above the Budget Estimates of Rs 6,68,109 crore for direct taxes and Rs 5,65,002 crore for indirect taxes. However, the entire workforce may not be added within this financial year even if the proposals are cleared soon.

Thursday, May 23, 2013

Cabinet approved Income Tax cadre review and restructure

Today, as expected, Union cabinet approved 20,751 additional posts for Income Tax dept. as a part of revamp, stated Finance Minister P. Chidambaram.

Bank Xth bipartite : Next talk on 7th June 2013

As per information available Xth BPS talks with IBA and UFBU has been postponed to 7th June 2013. Earlier it was fixed for 3rd June.
Meanwhile,a meeting of representatives of UFFU will be held on 23rd May at New Delhi. They will   meet  IBA Chairman,at  Head Office. Punjab National Bank,  New Delhi on same day.
News Courtesy : Mr Mohan P.

Gujarat hiked 8% D.A. from January'13

The Gujarat government has announced to hike dearness allowance (DA) for its employees with effect from January this year.
Bringing it at par with the last increment given by the Central government in February, the state government has raised the bar up to 80 per cent. So far, the DA for state government employees was 72 per cent.
"It will be implemented from this month itself. Arrears in cash will be paid with this month's salary", said government spokesperson and Finance Minister Nitin Patel, making the announcement after the Cabinet meeting on Wednesday.

Income Tax cadre review may get cabinet nod today

The union cabinet is likely to discuss CBDT cadre review and accord sanction for a massive cadre review and restructure exercise of Income Tax dept. Under the proposal, there will be 19000 additional posts to be created in a span of two years, out of which about 800 will be IRS officers. This cadre review exercise, if approved will definitely improve the promotional aspects of the employees as well as scope for direct recruitment. 

Friday, May 17, 2013

Maharashtra enhances D.A to 80%., issues order

Finance Department of Maharashtra Government has issued a resolution regarding D.A. which is increased by 8% i.e. from 72% to 80% from 01st January, 2013.  All the State Government Employee and other than eligible State Employee enjoying the increased D.A. benefit from May-13 and the arrears of balance amount will be paid soon.
Download the D.A. order

ICSE, ISC Results 2013 to be declared today. CBSE 12th results 2013 expected on 26th May

ICSE Results 2013 and ISC Results 2013 would be declared by the Council for the Indian School Certificate Examinations at 3 pm on May 17 (Friday). Candidates can accesses their Indian School Certificate (ISC)/ Indian Certificate of Secondary Education (ICSE) result by logging on to the website  

CBSE 12th results 2013 are expected to be declared on 26th May 2013 by the Central Board of Secondary Education (CBSE).
CBSE had conducted the CBSE 12th board exams from 1 March 2013 to 17 March 2013 in which lakhs of students have appeared from every part of India and are eagerly awaiting their results.

Thursday, May 16, 2013

Jammu and Kashmir employees to get 8% more D.A.

In a major relief amidst back-breaking inflation the Jammu and Kashmir government today announced an 
eight per cent increase in dearness allowance (DA) for the state government employees, pensioners and family pensioners.
The hike would be effective from January 1 this year.
"The cabinet which met in Srinagar under the chairmanship of Chief Minister Omar Abdullah accorded the sanction to enhance of an installment of DA for state government employees, state pensioners and family pensioners from 72 per cent to 80 
percent from January 1, 2013," said an official spokesperson.
The DA arrears with effect from January to April would be paid in cash to the employees in May, the spokesman said.

Source : J & K Newspoint

Wednesday, May 15, 2013

Handsome return for New Pension Scheme for F.Y. 2012-13

The National Pension System (NPS) regulated by Pension Fund Regulatory and Development Authority (PFRDA) has delivered double digit returns for the financial year 2012-13 and has evidenced itself as not just being the cheapest retirement product but also as the highest returns generating scheme.

Employees Provident Fund to fetch 8.5% for the F.Y 2012-13

The Finance Ministry has approved payment of 8.5 per cent rate interest for 2012-13, up from 8.25 per cent in the previous fiscal, benefiting over 5 crore EPFO subscribers."Finance Ministry has notified 8.5 per cent interest rate for 2012-13. It will be implemented with immediate effect," EPFO's Central Provident Fund Commissioner Anil Swarup told PTI.
Source : PTI

Tuesday, May 14, 2013

HRA in Bangalore enhanced

Karnataka Govt. has hiked the HRA of state employees from existing 25% to 30% with effect from 01.04.2013
View the order

Monday, May 13, 2013

Likely central D.A. from July 2013

With the release of 8% D.A. to central employees and pensioners, speculations and rumors started mounting about the percentage for July 2013. As the last three months index number is yet to come out, it will be nothing but a wild guess about the next D.A. At his stage it can only be predicted a 9 or 10% increase depending upon the actual position of AICPIN data for April, May and June 2013. As we are being flooded by queries regarding next D.A., it is published here just to clear the air.

Karnataka hikes dearness allowance from January1,2013

Karnataka has increased D.A. for it's employees with effect from 1st January 2013. The revised D.A. will be 9% of revised basic pay. Earlier it was 4%. Govt. has also hiked the D.A. for pensioners and family pensioners at the same rate.  The entire amount to be paid in cash.
Download the order

Thursday, May 9, 2013

Odisha announces 8% dearness Allowance from January'13

The state government on Wednesday announced a hike in dearness allowance for its employees and pensioners by eight per cent with effect from January 1, 2013. The hike would be released at the end of May, an official release said.

Wednesday, May 8, 2013

BSNL freezes LTC for it's employees

BSNL has frozen LTC for it's employees due to poor financial condition. Only employees above 59 years of age, i.e. retiring in near future will be allowd to avail all India LTC.
View the order

Monday, May 6, 2013

Delhi HC ordered to increase pension from 2006 to pre 2006 pensioners

The Delhi High Court has held that all government employees who retired before 2006 will get a revised pension according to the Sixth Central Pay Commission. 
Rejecting the government's plea that the pre-2006 employees would get the increased pension only from 2012, the court directed the authorities to give retired employees the increased pension from 2006 itself. 

Sunday, May 5, 2013

Despite being promised arrears, Maharashtra teachers refuse to end strike

Teachers across the state will receive their Sixth Pay Commission arrears by May 11, minister for Maharahstra’s higher and technical education department, Rajesh Tope said. The teachers have been strike for 90 days for various demands. 

Govt employees with "New Pension Scheme" to get gratuity at same rate

Ministry of Finance has issued a press release and cleared the air about the entitlement of gratuity under new pension scheme. It is categorically stated that the NPS beneficiaries will be entitled to gratuity as per the same criteria as the old pension scheme employees are concerned. The new pension scheme is only the replacement of old pension scheme and it has no relation to the entitlement of gratuity.
View the press release

Friday, May 3, 2013

Download Central pensioner dearness relief order wef 01.01.13

Dept. of pension and pensioners' welfare, Govt. of India has released 8% D.R. order for central pensioners and family pensioners with effect from 01.01.2013. With this hike, the total Dearness Allowance will be enhanced to 80%.
Download the order

Thursday, May 2, 2013

Haryana hikes Dearness Allowance from 1st January 2013

The Haryana government today announced to enhance the rate of Dearness Allowance (DA) payable to the state government employees from existing 72 per cent to 80 per cent and it would be given in cash with effect from 1 January, 2013.
Stating this here, state's finance minister HS Chatha said that eight per cent increase had been made in the DA of Haryana government employees on the pattern of Central government employees.
It would put annual burden of Rs 420 crore on the state exchequer. However, the liabilities for the current financial year would be Rs 490 crore as Dearness Allowance would be paid to the employees for 14 months from 1 January, 2013 to February 2014, an official release said.
Source : PTI

Download IBA circular on D.A. increase for May/June/July 2013

IBA has issued circular for workmen and officers for 26 slabs D.A. hike for the period of May to July 2013.
Download IBA Circular

Tamilnadu hikes 8% D.A. from January 2013

Download 8% D.A. order
Tamilnadu C.M. announces a hike of 8% D.A. for employees and pensioners from January 2013. With this hike the total D.A. reaches to 80% of basic pay, at par with central Govt. employees. The hike will be effectve from 01.01.2013 and about 18 lakh employees including teachers, pensioners and family pensioners will be benifited. An additional burden of Rs 1639.93 crores will be added to the expenditure.

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