Saturday, February 28, 2015

Union Budget 2015-16 : At a glance

1Abolition of Wealth Tax.
2Additional 2% surcharge for the super rich with income of over Rs. 1 crore.
3Rate of corporate tax to be reduced to 25% over next four years.
4No change in tax slabs.

AICPIN (IW) increased by one point for January 2015

All India Consumer Price Index Number (AICPIN)for Industrial Workers (IW)Base 2001=100 for the month of January 2015  has been released by Labour Bureau,Ministry of Labour ,GOI which stood 254 points with an Increase of 1 points while compared to December figure.
It may be noted that this is the change after August 2014. During the meanwhile index stood flat at 253 for long.

Thursday, February 26, 2015

Rail Budget 2015-16 : Salient Features

Image result for train clipart
  • No hike in Railway Passenger Fares
  • No new trains announced
  • Plan Outlay proposed Rs. 1,00,011 crore, increased by 52%
  • Allocation for passenger amenities up by 67%

Wednesday, February 25, 2015

One rank one pension for Armed Force : Govt. clarifies position

Implementation of One Rank One Pension Scheme
The principle of One Rank One Pension for the Armed Forces has been accepted by the Government. The modalities for implementation have been discussed with various stakeholders and are presently under consideration of the Government. It will be implemented once the modalities are approved by the Government. 
This information was given by Minister of State for Defence Shri Rao Inderjit Singh in a written reply to Shri Avinash Rai Khannain Rajya Sabha on 24th Feb'15.
Click here to view Press Release

Tuesday, February 24, 2015

Likely increase of salary for bank employees

After long wait and negotiations, strike call and withdraws, finally the wage hike settled for bank employees with 15% hike in pay slip components and two extra holidays per month. Click here for details. Details of hike and joint note will be prepared within three months. As per sources, two saturdays will be holidays from 1st April onwards.
Bank employees are very much eager to know the amount of exact increase in pay slip. Though no official confirmation is available, we reproduce a likely chart of increase as procured and sent by one of our viewers, Mr Debashis Das.

Kindly note that this is only a calculation based on available data.

Monday, February 23, 2015

Bank wage settled, strike from Feb 25 withdrawn

The much awaited wage revision talks comes to its conclusion today.
 In todays (23.02.2015) wage revision talks held at Mumbai, under 10th BPS, by Bank Unions (UFBU) with IBA has settled at
15%(Rs 4725 Cr) wage hike for bank workmen and officers w.e.f 1.11.2012.

 2nd and 4 saturdays will be holidays and other saturdays will be full working days. 

Update provided by Mr Mohan P

Click here for more details
(Details contributed by Mr Debashis Das)

Click here for chart of likely increase.

Sunday, February 22, 2015

Jaitley asks bank employees to drop strike plan

Finance Minister Arun Jaitley on Saturday asked the public sector bank employees and their unions to call off their proposed nationwide strike from February 25. The public sector bank employee unions had on Friday threatened to go on a four-day nationwide strike to press for their wage-related demands.
According to an official release, the Finance Minister informed the employees that banks are already in negotiations with their unions and associations for wage settlement.
Stating that participating in the proposed strike was neither desirable nor affordable, the Minister asked the employees, their unions and associations not to resort to such disruptive means, and drop the strike plan.
A crucial bipartite meeting between bank unions and IBA is scheduled tomorrow and most probably, with an assurance of slight more hike over already promised 13% will satisfy the leaders to call off the proposed strike. 

Saturday, February 21, 2015

Expectation from general budget : More relief in taxation

Budget Expectations for Salaried Class
 Salaried class is a huge portion of tax-paying citizens.  They have been complaining of very slow growth in last 2-3 years because inflation has been very high and they have not received good raise from their employers and their disposable income is getting squeezed. So, salaried class citizens have huge expectations from section 80 C deduction which was increased from Rs 1 to 1.5 lakhs last year which should be further increased to at least 2 lakhs if not 2.5 lakhs,

Friday, February 20, 2015

Bank Bipartite : Update as on 20.02.2015 - Strike stands

Out come of todays(20th Feb) CLC meet held at New Delhi.
Next round of Bi Partite talks will be held on 23rd February 2015 at Mumbai.
STRIKE ON 25th to  28th February stands as of now.

Details of CLC meet held to day at New Delhi as per unions is furnished here under.

Thursday, February 19, 2015

Bank leaders meet F.M. to press for wage hike

Representatives from the public sector Bank Unions today met Union Finance Minister Arun Jaitley to press their demand.
The meeting comes ahead of nationwide strike, called by the Unions, for four days starting February 25 and indefinite strike from March 16 across the country.
All India Bank Employees' Association (AIBEA) and All India Bank Officers Association (AIBOA) officials have met Jaitley in New Delhi today and submitted a memorandum listing various demands, said C H Venkatachalam, All India Bank Employees Association (AIBEA).
"Today we only made a representation to the Finance Minister, it was not any negotiation meeting. Tomorrow Chief Labour Commissioner has called for negotiation meeting, where IBA will also be presented at New Delhi. Based on the outcome we will decide about the strike," said Venkatachalam, adding that as of now the scheduled strike is on.
He added, during the meeting the Unions asked the government's intervention in early settlement of wage revision, timely appointment of workmen directors, merger of regional rural banks (RRBs) with their sponsor were some of the demands submitted today by the Unions to the Finance Minister.
Venkatachalm said the 40 minutes meeting with the Finance Minister was cordial and he listened to Union. Unions have called for a nationwide four day strike from February 25 followed by an indefinite strike in March onwards demanding wage revision.

Wednesday, February 18, 2015

Grant of MACP without delay : Govt. instruction

DOPT issued O.M. dated 18.02.2015 regarding grant of MACP without delay and once again reminded the prescribed time schedule to follow for the screening committee to grant MACP.

"As per para 6 of DOPT's O.M. No. 35034/3/2008-Estt.(D) dated 19.05.2009, the Screening Committee would follow a time-schedule and meet twice in a financial year - preferably in the first week of January and first week of July of a year for advance processing of the cases maturing in that half. Accordingly, cases maturing during the first-half (April-September) of a particular financial year would be taken up for consideration by the Screening Committee meeting in the first week of January. Similarly, the Screening Committee meeting in the first week of July of any financial year would process the cases that would be maturing during the second-half (October-March) of the same financial year."
Click here for the full O.M. dated 18.02.2015

Latest instruction regarding property return under conder rule and Lokpal Act

*The annual Immovable Property Return (IPR), as on 31.12.2014, under the existing CCS(Conduct) Rules, 1964 is required to be filed on or before 31.01.2015;

*The first return under the Lokpal and Lokayuktas Act, 2013 (as on 01.08.2014) should be filed on or before 30.04.2015;

*The next annual return under the Lokpal and Lokayuktas Act, 2013, for the year ending 31.03.2015, should be filed on or before 31.07.2015.  

Click here for the DOPT O.M. dated 17.02.2015

Tuesday, February 17, 2015

Govt likely to categorise 'military pension' separately

New Delhi, Feb 17 (PTI) Aiming to fulfill a long-standing demand of ex-servicemen regarding the implementation of 'one rank, one pension' norm, the government may categorise 'military pension' as a different pension category.

Official sources said that is likely that military pension may be soon categorised as a separate category which would ensure that it cannot be equated with other pensions.

"There are several reasons because of which the government is contemplating such a move to differentiate this service.

Saturday, February 14, 2015

Bank unions want FM to step in to resolve wage hike

 Days ahead of a proposed strike by PSU banks' employee unions, a top union leader today sought the intervention of Finance Minister Arun Jaitley to resolve the over two-year-old wage hike issue.

Public sector bank employee unions have threatened to go on a nationwide four-day strike beginning February 25 over the wage hike issue.

C H Venkatachalam, General Secretary of All-India Bank Employees Association (AIBEA), said Jaitley should intervene immediately to settle the long-pending issue.

Source : PTI

Tuesday, February 10, 2015

After Telengana, It's Andhra Pradesh to increase staff salary

Naidu matches KCR, hikes staff salary by 43%
 Under pressure from his Telangana counterpart to match the salary hike for government staff, Andhra Pradesh chief minister N Chandrababu Naidu on Monday announced a 43% salary increase for all categories of employees. The Pay Revision Commission (PRC) had recommended a hike of 29%, but both AP and Telangana chose to peg the increase at 43%.
Download 10th PRC Report

Encashment of earned leave alongwith LTC- clarification.

"It is clarified that the Government servants governed by the CCS (Leave) Rules, 1972 and entitled to avail LTC may encash earned leave upto 10 days at the time of availing both types of LTCs, i.e. `Hometown' and 'anywhere in India'. However, when the one and the same LTC is being availed of by the Government servant and his family members separately in a block year, encashment of leave would be restricted to one occasion only. "
View the complete O.m. dated 9th Feb'15

Chief Labour Commissioner called IBA & UFBU for conciliation meeting on 20th Feb

Since IBA is adamant in wage hike to bank employees  above 13% under 10th Bi partite talks,Bank Unions(UFBU) have already served Strike Notice to Indian banks Association(IBA)
Under this  back drop of reviving the strike call by UFBU , Chief Labour Commissioners has called Conciliation meeting on 20th february at 3 PM at New Delhi.
Acknowledgement : Mr Mohan P.

Sunday, February 8, 2015

Kerala Government Grants Seven Per Cent DA Hike, Issued Order

The Finance Dept on Saturday issued order bringing to effect the 7 per cent hike in the DA of govt employees and pensioners announced by the government in January.

Friday, February 6, 2015

Bonanza for Telangana employees

In a move that will almost double the salaries of Telangana employees, the state government announced implementation of the pay hike recommended by the pay revision commission (PRC) with a fitment of 43%. 

Chief minister K Chandrasekhar Rao said at a press conference on Thursday that the pay panel, headed by special chief secretary to the government K Pradeep Chandra, was the first PRC of Telangana. 

"Ours is an employee-friendly government. We have recognised the employees' role in realisation of statehood. The notification of the implementation of pay hike will be issued on Friday which is regarded as goddess Lakshmi's day," said the chief minister. 

Bank Union''s circular on proposed strikes

The Text of Bank unions (UFBU) Circular No. UFBU/2015/45, dated 04.02.2015, issued by Com. M.V. Murali, Convenor, United Forum of Bank Unions,  on strike from 25th  Feb and Indefinite strike from 16th  March '15 is furnished here under for information

Tuesday, February 3, 2015

Xth BPS : UFBU not satisfied with IBA's offer, to go on strike

Bank Strike Called Again
As scheduled the 10th BPS wage Negotiation Talk between Bank Unions (UFBU) and Indian banks Association held to day at Mumbai.
               In the talks today(3rd Feb)   IBA offered only 0.5% improvement(to take the wage hike to 13% from earlier offer of 12.5%) which is not satisfactory as per unions.
             Bank Unions (UFBU ) decides to revive the Strike programme.

 4 days Strike from 25th Feb and  indefinite strike from 16th March.
 Details are awaited

Update by Mr Mohan P

Monday, February 2, 2015

Bank D.A. from February to April'15 : Circular issued

IBA issued circular enhancing the D.A for workmen from February to April 2015 and D.R for pensioners  from Feb to July'15
Click here for the circular of D.A. for employees
Click here for the circular of D.R. for pensioners.
Click here for the circular of D.R. for pre 01.01.1986 retirees

Bank Bipartite meeting tomorrow (03/02/15) : Possibility of significant hike stands remote

On the eve of next bipartite negotiation between UFBU and IBA, scheduled the 3rd February'15 at Mumbai, possibility of significant rise in salary is looking a distant probability. As per sources, the deal is likely to be concluded soon, within just one or two more meeting and the rise will be only around 13% of pay slip components. The bipartite negotiation is likely to be signed within a month.

"One Rank One pension" for army likely to be finalized soon

As retried veterans of the armed forces converge on the national capital to protest non-implementation of the “one rank-one pension” (OROP) scheme on Sunday, Defence Minister Manohar Parrikar today said the modalities will be finalised by next week and the file will be sent to the Finance Ministry for further action.
Parrikar, while speaking to mediapersons on the sidelines of a defence function, said: “Discussions are on to fix the modalities (for the OROP)... By next week, the view of the Defence Ministry will be formed.”
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