Tuesday, October 31, 2017

Rajasthan issued revised pay notification

Govt. of Rajasthan issued order for implementation of new pay rules for it's employees with effect from 01.10.2017.
Click here to download Revised Pay Rules 2017
Click here to download Revised D.A. order 

Wednesday, October 25, 2017

GPF interest rate wef 1st October, 2017 to 31st December, 2017.

The Government of India has announced that during the Financial Year 2017-18, accumulations at the credit of subscribers to the General Provident Fund (GPF) and other similar funds shall carry interest at the rate of 7.8% (Seven point eight per cent) with effect from 1st October, 2017 to 31st December, 2017. This rate will be in force w.e.f. 1st October, 2017.
The Notification to this effect has been issued and published in the Gazette of India on 23rd October, 2017.

Wednesday, October 18, 2017

Diwali bonanza for Rajasthan employees - Pay Commission implemented !

Ahead of Diwali, the Rajasthan government on Tuesday implemented the recommendations of the seventh pay commission, a decision that will benefit over 12 lakh employees and pensioners.
Government employees will get the revised salary from the month of October, Chief Minister Vasundhara Raje said in a statement.

Raje said that she had promised to implement the recommendations of seventh pay commission in the 2017-18 budget and was happy to implement it from October.

She said that a panel had been authorised to examine cases of salary discrepancies, allowances and arrears.

The state government considers its employees the backbone of governance and was sensitive towards their welfare, she added.

Monday, October 16, 2017

NAC meeting this month, likely to recommend hike in minimum pay and fitment factor

The National Anomaly Committee is set to meet to discuss the hike in pay beyond the 7th Pay Commission. The meeting that was scheduled to be held on October 7 was postponed and now the matter is expected to be taken up anytime before the end of this month. The NAC is meeting to decide on the proposal to hike the basic minimum pay for Central Government employees. Although no official date has been given, sources say that the NAC is making all necessary arrangements to meet this month itself.

Thursday, October 12, 2017

Tamilnadu issues pay revision order

Fitment factor of 2.57 shall be applied uniformly to all employees
while fixing pay of existing employees in the pay matrix, irrespective of their present grade pays or corresponding new levels. Pay plus grade pay of an employee at any level as on 1-1-2016 (Pay in the Pay Band + Grade Pay) shall be multiplied by a factor of 2.57 for the purpose of fixing the pay in the pay matrix.

 In the revised pay structure, dearness allowance shall be
sanctioned to State Government employees whenever granted by the Central Government to its employees at the same rates and from the same dates.
Accordingly, the dearness allowance under the revised pay structure shall be as indicated below: -

1. 1-1-2016 0 [Zero]
2. 1-7-2016 2% of Basic Pay
3. 1-1-2017 4% of Basic Pay
4. 1-7-2017 5% of Basic Pay

Date of effect-
The revised Pay Level for regular Government employees and
employees on special time scales of pay / Consolidated Pay / Fixed Pay / Honorarium shall take notional effect from 1st January, 2016 with monetary benefit from 1st October, 2017.
Click here for the order with full details

Wednesday, October 11, 2017

Tamil Nadu Cabinet approves pay hike for government employees

Update : Click here for the order
The Tamil Nadu cabinet on Wednesday approved the Seventh Pay Commission recommendations which will benefit more than ten lakh government employees and teachers in the state. It also decided to increase the retail prices of liquor.

A cabinet meeting chaired by chief minister Edappadi K Palaniswami approved the pay commission recommendations after a high-level committee headed by finance secretary K Shanmugam submitted its report to the government recently.

"The cabinet gave its nod for the order to be issued," said a source. There will be 20% hike in the salaries of government employees and teachers.

Government employees had held a series of agitations in the past few months, seeking an interim relief until the implementation of the pay commission recommendations. It even led the Madras high court to pass an order staying the protests as they violated service rules. The employees and teachers withdrew their strike after a stern warning from the court.

Cabinet approves revised pay scales of teachers and equivalent academic staff in Universities/Colleges & centrally funded technical institutions

The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval for revision of pay scales for about 8 lakh teachers and other equivalent academic staff in higher educational institutions under the purview of the University Grants Commission (UGC) and in Centrally Funded Technical Institutions, following implementation of the recommendations of the 7th Central Pay Commission for Central Government employees. 

Tuesday, October 10, 2017

Law ministry clears the way for hiking lower court judges’ salaries

The government has set the ball rolling for raising salaries of judges of lower courts with the law ministry proposing the appointment of the Second National Judicial Pay Commission (SNJPC) to recommend pay hikes for approximately 22,000 judges.
The last pay hike, which was a three-fold increase, was given to the subordinate judiciary in 2010 and was applied retrospectively from January 1, 2006, sources in the ministry revealed. The commission will be headed by former Supreme Court judge Justice PV Reddy.
The current entry level salary for a junior civil judge is approximately Rs 45,000 while a senior judge draws close to Rs 80,000 apart from other allowances and benefits. The commission will submit its recommendations in early 2019 and the hike again is expected to be given with retrospective effect.

Wednesday, October 4, 2017

Bank Unions say no to linking PSB pay to productivity

 Discussion on Financial demands by month end.
Departing from the practice of standard payscales across banks, irrespective of size or financial health, public sector banks have proposed bank-wise compensation for executives, depending on the strength of each entity. PSU banks under the aegis of the Indian Banks Association (IBA) have also proposed wage increases be productivity-linked rather than automatic hikes based on tenure. Unions have opposed both the proposals.
"Bank-wise settlement and productivity-linked compensation are something that IBA comes up with during the start of every bipartite discussion. Unions are opposed to both of them," said Devidas Tuljapurkar, joint secretary All India Bank Employees Association (AIBEA). On Tuesday, the IBA had its initial round of discussion with employee associations on wage revision. Public sector banks are trying to bring in the 'cost to company' concept that is prevalent in the private sector. The banker's association plans to make a strong push for a large variable component in the compensation. Like in the pension reform, which was brought in by making it applicable to new employees, they may propose that variable pay be introduced for new hires.

Sunday, October 1, 2017

Expected DA for Bank Employees from November 2017 may be 40 slabs

Consumer Price Index (CPI) for the month of August 2017 has also been published by Labour Bureau, which is 285 i.e., at the same level as that for the month of July 2017. And if CPI for the next months i.e., September 2017 remains same at the same level (285) as that for the month of July 2017 and August 2017, DA slabs for the next quarter, November 2017 to January 2018 will be 516 i.e., 51.60 %. That means, bankers’ DA from November 2017 is expected to increase by 3.80%  from the present quarter (which is 47.80%). 
It is only an estimation and exact position will be clear only after release of September 2017 index number (On 31st October 2017).

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

The All-India CPI-IW for August, 2017 remained stationary at 285 (two hundred and eighty five)
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