Minutes of the 26th meeting of SCOVA held on 03.02.2015

Wednesday, March 4, 2015

SCOVA Meeting

F. No. 42/39/2014-P&PW(G)
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Pension & Pensioners’ Welfare

3rd Floor, Lok Nayak Bhavan,
Khan Market, New Delhi – 110003

Date: 26th Feb,2015

To
All the Pensioners Associations under present SCOVA

Subject: Minutes of the 26th meeting of Standing Committee of Voluntary Agencies (SCOVA) held on 03rd February, 2015 under the Chairmanship of Hon’ble MOS(PP).

      Please find enclosed herewith a copy of minutes of the 26th meeting of Standing Committee of Voluntary Agencies (SCOVA) held on 03rd February, 2015 under the Chairmanship of Hon’ble MOS (PP) at Vigyan Bhawan Annexe, New Delhi for your kind perusal and necessary action.

( Sujasha Choudhury)
Dy. Secretary (P)

Minutes of the 26th meeting of Standing Committee of Voluntary Agencies (SCOVA) held on 03.02.2015 under the Chairmanship of Hon’ble MOS (PP) at Vigyan Bhawan Annexe, New Delhi.

The list of participants is at Annexure-A

2. At the outset Joint Secretary (Pension) welcomed Hon’ble MOS (PP), Secretary, Pension & Pensioners’ Welfare, representatives of Pensioners Associations and the participating officers of various Ministries/Departments. It was stated that SCOVA is a multiparty forum and a platform for sharing views. Under the able leadership of the Hon’ble Minister, the Department will continue to streamline the various policy issues for the benefit of the pensioners.

3. Thereafter, Hon’ble MOS (PP), Chairman, SCOVA, welcomed all participants to the meeting. He said that presently the number of pensioners is more than the number of employees in service. Hence, there is a large pool of experience which can be utilized in a constructive manner. MOS (PP) also mentioned that the Department has been able to effectively deliver on most of what was promised. Fixed Medical Allowance (FMA) has been increased from ` Rs.300 to Rs.500, online grievance monitoring system CPENGRAMS is being used to keep the number of outstanding grievances to a minimum, BHAVISHYA (online pension sanction and payment tracking system) has been extended to 25 Ministries/Departments. MOS(PP) also stated that the Pensioner’s Portal is a part of the e-governance system which is in itself a priority of the present Government. He said that initiative “Sankalp” had immense potential to contribute to the welfare of pensioners  who could continue to contribute to the society after their retirement. Regarding the issue of agenda points suggested by the various Pensioners Associations being summarily rejected, it was informed that due importance was attached to all agenda points. However, owing to time constraints some of them are taken up for discussion during the SCOVA meeting and the items which were specific to a particular Department were forwarded to the concerned Ministries/Departments for taking necessary  action. Hon’ble MOS(PP) emphasized that each Department should look at the pensioners as their own responsibility and treat them as their family members.

It was pointed out by Pensioners’ Associations that there has been delay in payment of the enhanced amount of Fixed Medical Allowance in several Postal Circles. The instructions of Department of Posts to Postal Circles for accessing the orders from the website of DoP&PW and send the copies to the Pension Disbursing Offices without delay are not being followed. A suggestion was made that the Heads of Postal Divisions (instead of the designated Officer in Postal Page 2 of 8 Circle Offices) may be authorised to download the relevant order from the website of DoP&PW and send the copies to the Head Post Offices to effect timely payment to the Pensioners.

4. Thereafter, the Action Taken Report of 25th SCOVA meeting and Fresh Agenda items of 26th SCOVA meeting were taken up for discussion.

5. Discussion on ATR of 25th SCOVA meeting:-

i) Sl.No 1 of ATR: Status of issue of revised PPOs to pre-2006 pensioners.

a) CPAO informed that 29,615 cases were pending for revision. Despite several efforts, no further information was coming forth in respect of the pre- 1990 PPOs. They have approached banks and pensioners to obtain the missing information. CPAO was advised to hold meetings with individual Ministries and sort out cases issue wise so that  solutions  could be worked out and the pendency brought down to zero. CPAO was also advised to discuss the issue with Ministry of Railways and Department of Defence who had shown remarkable progress and brought down the pendency to Nil.

(Action: CPAO)

b) One of the Pensioner Association intimated that a number of cases were still pending in the Maharashtra Circle post offices. The Department of Posts intimated that they would consider delegating authority of revision to sub-post offices. In case of Patiala Circle, date of birth of spouse is not indicated in the revised PPOs. In respect of the
comments of other Pensioners Associations, they were requested to give specific case wherein revised authority has not been issued.

(Action: Department of Posts)

c) The Ministry of Railways informed that only 5000 cases are pending where no records are available and revised PPOs could not be issued. However, the Pensioners Association informed that in Firozpur, Ambala and Delhi revised PPOs in some cases have not been issued. Ministry of Railways was therefore asked to reconfirm their figures of
revised PPOs.

(Action: Ministry of Railways)

d) Department of Telecommunications informed that as on date 867 cases are pending and out of which 665 cases pertain to BSNL. Necessary action to revise these are being taken.

(Action : Department of Telecom)Page 3 of 8

e) D/o Ex-Servicemen Welfare informed that revised PPOs have been issued in most of the cases. This was refuted by the Defence Pensioner Association. Pensioners Associations were requested to give the list of the pending cases to the Department of Ex-servicemen Welfare, which will take the matter with CGDA. However, CGDA was asked to also reconfirm their figures.

(Action: Ministry of Defence)

Source:Minutes of the 26th meeting of SCOVA held on 03.02.2015

Amendment to Central Civil Service (Leave) Rules, 1972 – Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 (PWD Act, 1995) – regarding

Thursday, February 26, 2015

No.18017/1/2014-Estt(L)
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel & Training

New Delhi, the 25th February, 2015

OFFICE MEMORANDUM

Subject: Amendment to Central Civil Service (Leave) Rules, 1972 – Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 (PWD Act, 1995)-regarding

The Central Civil Services (Leave) Rules, 1972 were amended vide the Department of Personnel and Training Notification No. 13026/1/2002-Estt(L) dated the 15/16thJanuary, 2004 consequent to the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 (PWD Act, 1995) which came into force from 7thFebruary, 1996.

2. Section 47 of the PWD Act, 1995 provides that services of no employee can be terminated nor can he be reduced in rank in case the employee has acquired a disability during his service. The first proviso to the Section 47 lays down that if such an employee is not suitable for the post he was holding, he could be shifted to some other post.
However, his pay and service benefits would be protected. The second proviso provides that if it is not possible to adjust such an employee against any post, he would be kept on a supernumerary post until a suitable post is available or he attains the age of superannuation, whichever is earlier. Further, the Clause (2) of Section 47 provides that no promotion shall be denied to a person merely on ground of his disability. In Kunal Singh v. Union of India, [2003] 4 SCC 524, Hon’ble Supreme Court has observed that the very frame and contents of Section 47 of the PWD Act, 1995 clearly indicate its mandatory nature.

3. The issues relating to leave or absence of Government servants who have acquired a disability while in service are required to be dealt with in the light of the provisions of the Section 47 of Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995. The case of a disabled government servant who is declared fit to resume duty but who may not able to perform the duties of the post he was holding earlier may be dealt with as per the first proviso to Section 47 of the PWD Act, 1995. The second proviso shall apply if it is not possible to adjust him against any existing post. In all such cases, the Government servant so adjusted shall be entitled to the pay scale and other service benefits attached to the post he was holding.

4. A disabled Government servant who is not fit to return to duty shall be adjusted as per second proviso to the Section 47 mentioned above, until he is declared fit to resume duty or attains the age of superannuation whichever is earlier, with the same pay scale and service benefits. On being declared fit for resuming duty, the Government servant who is not fit for the post he is holding, may be adjusted as per the first proviso to Section 47.

5. Leave applied on medical certificate in connection with disability should not be refused or revoked without reference to a Medical Authority, whose advice shall be binding. The ceiling on maximum permissible leave laid down in Rule 12 may not be applied to leave on medical certificate applied in connection with the disability. Any leave debited for the period after a Government servant is declared incapacitated shall be remitted back into his/her leave account.

6. For a government servant who is unable to submit an application or medical certificate on account of disability, an  application/medical certificate submitted by a family member may be accepted. The provisions relating to examination of  disabled Government servants and the Medical Authorities competent to issue such certificates are also being amended.

7. Necessary amendments to the Central Civil Services (Leave) Rules, 1972 are being notified separately.

(Mukesh Chaturvedi)
Director
Tel: 23093176

Source: http://ccis.nic.in/WriteReadData/CircularPortal/D2/D02est/18017_1_2014-Estt.L-25022015.pdf

Extension Ad-hoc Recognition of Service Association of Employees of Non-Statutory Departmental Canteens/Tiffin Rooms of Central Government Offices under CCS(RSA) Rules, 1993 – regarding

No.27/1/2007 -Dir(C)
Government of India
Ministry of Personnel, P.G. and Pensions
(Department of Personnel & Training)
*****

Lok Nayak Bhawan, Khan Market,
New Delhi, dated 26 February, 2015

OFFICE MEMORANDUM

Subject: Extension Ad-hoc Recognition of Service Association of Employees of Non-Statutory Departmental Canteens/Tiffin Rooms of Central Government Offices under CCS(RSA) Rules, 1993 – regarding.

The undersigned is directed to refer to this Department’s O.M. of even No. Dated 03.09.2013 wherein ad-hoc recognition to All India Central Government Canteen Employees and Workers Association was granted for period of one year subject to verification through check-off-system within this period, It has been decided by competent authority to extend ad-hoc recognition given to All India Central Government Canteen Employees and Workers Associations for further period of one year subject to the condition that ad-hoc recognition would cease after one year if verification through check -off-system is not completed during
the period.

(Pratima Tyagi)
Director(Canteens)

To

1 All Ministries/Departments of Government of India (As per Standard list).
2 All Nodal DDOs nominated by Ministries/Departments(as per standard list) with request to arrange to send the consolidated information regarding deduction of subscription of the employees to the All India Central Government Employees and Workers Association. Continuation of recognition is based on verification through check-off system, as such requisite information may please be furnished at an early date.
3, Departmental Canteens(as per list attached).
4 Sh. Jogesh Chandra Nayak, Secretary General, All India Central
Government Canteen Employees and Workers Association, AG.
Departmental Canteen, Office of AG. Orissa, Bhubaneswar.
5. Dir(JCA), DOPT, North Block, New Delhi.
6 Section Officer(Canteens), with 20 spare copies.

Source: http://ccis.nic.in/WriteReadData/CircularPortal/D2/D02adm/XXX.pdf

Reintroduction of direct recruitment in LDC in Central Secretariat – meeting to discuss to elicit views regarding

Friday, February 20, 2015

No. 19/2/2014-CS.I (P)
Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Personnel and Training
CS.I Division

Dated the 19th February 2015

OFFICE MEMORANDUM

Subject:: Reintroduction of direct recruitment in LDC in Central Secretariat – meeting to discuss to elicit views regarding

The undersigned is directed to say that on the recommendations of the Committee on the Cadre Restructuring of CSS (3rd ), a proposal is under consideration of this Department for re-introduction of direct recruitment in the grade of LDC in the Central Secretariat.

2. In this regard, it has been desired to elicit views of the stakeholders in the matter. Accordingly, all  Ministries/Departments, Service Associations and individual officers are requested to submit their views on the issue urgently, latest by 10 March 2015. The views may be furnished via e-mail at uscs1-dopt@nic.in

3. A brief on the issue is attached.

(V. Srinivasaragavan)
Under Secretary to the Government of India


REINTRODUCTION OF DIRECT RECRUITMENT IN THE GRADE OF LDC

As a part of first cadre review of CSS in the year 2003, direct recruitment to the Lower Division Grade (LDC) of CSCS was stopped. Eighty Five percent of the posts of LDCs were then filled up through direct recruitment quota and accordingly, after implementation of the first cadre review, 85% of the posts of LDCs falling vacant every year are being abolished. The remaining posts are filled up by promotion from the erstwhile Group D employees (now MTS). Over the years, strength of LDCs in the Ministries/ Departments has come down substantially from the original level of about 5300.

2. The Second Administrative Reforms Commission endorsed the decision of phasing out of direct recruitment in LDCs. The Core Group on Administrative Reforms (CGAR) also agreed with the recommendations of ARC. However, the Group of Ministers did not agree phasing out of LDCs and directed that the matter be reconsidered.

3. As the issue of reintroduction of direct recruitment in the LDC has multifarious dimensions / implications like change in work culture in the Govt. of India, E-governance, impact on Multi-Tasking Staff, UDC, Assistant cadre etc. it was referred to the 3rd cadre restructuring committee of CSS.

4. The pros and cons of reintroduction of direct recruitment in LDCs may be as under:

Pros
(i) More availability of manpower in the Sections. Presently, Central Secretariat is heavily top loaded with only 6700 Assistants feeding to 3200 SOs, 1600 USs and 1200 DS/Dirs;

(ii) Salary of a LDC is much less comparing that of an Assistant;

(iii) More continuity and institutional memory as compared to outsourced staff;

(iv) If manpower is to be increased at lower level it could be either at Assistant level or at LDC level. Direct recruitment at LDC level with Promotion to UDC and Assistant would create less problem of stagnation than increased direct recruitment at Assistant level;

(v) Quality of direct recruit LDCs is reasonable.

Cons:
(i) We would be going back from the principles of officer oriented system in the Gentral Secretariat;

(ii) In the era of e-governance, paperless office and multi skilling, maintaining a large cadre of LDCs to carry out routing office jobs manually may be regressive;

(iii) The savings shown in the first cadre restructuring of CSS would disappear;

(iv) LDCs in terms of salary, pension contribution and other benefits would cost much more than outsourced staff;

(iv) There could be conflict of promotional opportunities between direct recruit LDCs and Assistants


5. However, in the absence of LDCs, a number of Ministries/Departments have resorted to engaging out-sourced staff to manage basic activities like diary/dispatch, movement of files/papers, typing etc. and there is a functional need to strengthen the institutional memory and level of commitment cannot be expected from outsourced staff.

6. The 3rd CRC has recommended re-introduction DR in LDC in limited manner with simultaneous reduction in DR in Assistant grade.

7. However, in view of increased use of information technology tools and progressively more officer oriented system there is a much less requirement of ministerial staff than previously and therefore if direct recruitment in LDC is reintroduced it should be limited in number they should mostly be utilised in regulatory ministries where the volume of correspondence/ dak/ diarizing work
is higher.

8. In the changed IT environment, the intake of 200-250 may be adequate  to arrive at the sustainable number of about 2000 LDCs and equal number of UDCs over the years with the combined strength of 4000.

9. To provide adequate promotional avenues to the newly recruited LDCs, the percentage of intake of DR Assistant may be reduced to 60% (from the existing 75%) leaving 40% of the vacancies in the Assistant grade to be filled up by seniority/LDCE quota from the UDC grade. Reduction in direct recruitment in Assistant would in the long run reduce stagnation in senior grades of CSS.

Source:http://ccis.nic.in/WriteReadData/CircularPortal/D2/D02csd/ReintroLDC19022015.pdf

Rule 5 of Railway Servants (Discipline and appeal) Rules, 1968 – Instructions regarding timely review of suspension

RBE No. 12/2015
GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS
(RAILWAY BOARD)
No. E(D&A) 2014 RG6-35
New Delhi, 18.02.2015

The General Manager(P)
All Indian Railways and
Production Units etc.
(As per standard list).

Sub: Rule 5 of Railway Servants (Discipline and appeal) Rules, 1968 – Instructions regarding timely review of suspension

Rule 5 of the Railway Servants (Discipline and appeal) Rules, 1968 deals with the provisions of suspension. As per the rule, a Railway servant may be placed under suspension in the following circumstances:

(a) where a disciplinary proceeding against him is contemplated or is pending; or

(b) where, in the opinion of the authority competent to place a Railway servant under suspension, he has engaged himself in activities prejudicial to the interest of the security of the state; or

(c) where a case against him in respect of any criminal offence, is under investigation, inquiry or trial.

2. A Disciplinary Authority may also consider it appropriate to place a Railway servant under suspension in the following circumstances. These are only intended for guidance and should not be taken as mandatory:-

(i) Cases where continuance in office of the Railway servant will prejudice the investigation, trial or any inquiry (e.g. apprehended tampering with witnesses or documents);

(ii) where the continuance in office of the Railway servant is likely to seriously subvert discipline in the office in which the Railway servant is working;

(iii) where the continuance in office of the Railway servant will be against the wider public interest [other than those covered by (i) and (ii)] such as there is public scandal and it is necessary to place the Railway servant under suspension to demonstrate the policy of the Government to deal strictly with officers involved in such scandals, particularly corruption;

(iv) where allegations have been made against the Railway servant and preliminary inquiry has revealed that a prima facie case is made out which would justify his prosecution or his being proceeded against in departmental proceedings, and where the proceedings are likely to end in his conviction and/or dismissal, removal or compulsory retirement from service.

3. In the first three circumstances the Disciplinary Authority may exercise his discretion to place a Railway servant under suspension even when the case is under investigation and before a prima facie case has been established. Suspension may be desirable in the circumstances indicated below:-

(i) any offence or conduct involving moral turpitude;

(ii) corruption, embezzlement or misappropriation of Government money, possession of disproportionate assets, misuse of official powers for personal gain;

(iii) serious negligence and dereliction of duty resulting in considerable loss to Railways;

(iv) desertion of duty;

(v) refusal or deliberate failure to carry out written orders of superior officers. In respect of the types of misdemeanor specified in sub-clauses (iii) to (v) herein above, discretion has to be exercised with care.

4. Rules 5(6) and 5(7) of RS(D&A) Rules, 1968, deal with the review of suspension cases. The provision of review within ninety days is applicable to all types of suspensions. However, in cases of continued detention, the review becomes a mere formality with no consequences as a Railway servant in such a situation has to be continued to be kept under deemed suspension. A review of suspension is not necessary in such cases during this period. Therefore, in all such cases the first review of suspension becomes due on completion of ninety days counting from the date, the Railway servant was released from detention, unless suspension has already been revoked. Subsequent reviews shall become due before completion of currently continuing period of suspension. During each such review, suspension can be extended for a period not exceeding 180 days at a time.

5. It has come to notice that in cases of prolonged suspension period, the courts have pointed out that the suspension cannot be continued for long and that inspite of Railway Board’s instructions, the Disciplinary Authorities are not finalizing the disciplinary proceedings within stipulated time. Also, in such cases the Railway is unnecessarily paying subsistence allowance without extracting any work and if, on the culmination of the disciplinary proceedings, the charged officer is exonerated from the charges, the Railway has to unnecessarily pay the full salary and treat the period of suspension as on duty etc. It is therefore, desirable that timely review of suspension is conducted in a just and proper manner and that the disciplinary proceedings are finalized expeditiously.

6. The zonal Railways etc. may bring the existing instructions on timely review of suspension and expeditious completion of disciplinary proceedings to the notice of all concerned.

7. Please acknowledge receipt.

(S. Modi)
Dy. Director Estt. (D&A)
Railway Board

Source: http://www.indianrailways.gov.in/railwayboard/uploads/directorate/establishment/E_D%26A/DA_Rules/E(D%26A)_Timely_Suspension.pdf

Revision of pension of pre-2006 pensioners – inclusion of Non-Practicing Allowance (NPA) in revision of pension of retired medical officers

No.38/31/11 – P&PW(A)(Vol.IV)
Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Pension and P.W

3rd Floor, Lok Nayak Bhawan,
Khan Market, New Delhi.
Dated the 18th February, 2015

OFFICE MEMORANDUM

Subject :- Revision of pension of pre-2006 pensioners – inclusion of Non-Practicing Allowance (NPA) in revision of pension of retired medical officers

The undersigned is directed to say that in accordance with para 4.2 of this Department’s OM No.38/37/08-P&PW(A) dated 1.9.2008 (as clarified vide OM dated 3.10.2008 and 14.10.2008), the revised pension of pre-2006 pensioners shall, in no case, be lower than fifty per cent of the minimum of the pay in the pay band plus the grade pay corresponding to the pre-revised pay scale from which the pensioner had retired. In the case of HAG and above scales, this will be fifty per cent of the minimum of the revised pay scale. Further, in accordance with OM No.38/37/08-P&PW(A) dated 28.1.2013, the normal pension in respect of pre-2006 pensioners/family pensioners as revised w.e.f. 1.1.2006 in terms of para 4.1 or para 4.2 of the aforesaid OM dated 1.9.2008 would also be further stepped up w.e.f. 24.9.2012 to 50% of the sum of minimum of pay in the pay band and the grade pay corresponding to the pre-revised pay scale in which the Government servant had retired, as arrived at with reference to the fitment tables annexed to the Ministry of Finance, Department of Expenditure OM No.1/1/2008-IC dated 30th August, 2008. In the case of HAG and above scales, this will be 50% of the minimum of the pay in the revised pay scale arrived at with reference to the fitment tables annexed to the above OM dated 30.8.2008 of Ministry of Finance (Department of Expenditure).

2. In its judgment dated 27.11.2013 in Civil Appeal No.10640-46/2013 and other connected matters, Hon’ble Supreme Court observed that in accordance with Ministry of Health and Family Welfare’s OM No.45012/11/97-CHS.V dated 7.4.1998, NPA counts as pay for all service benefits including retirement benefits. In implementation of the aforesaid judgement of Hon’ble Supreme Court, orders have been issued vide this Department’s OM No.38/31/11-P&PW(A)(Vol.IV) dated 14.10.2014 read with OM dated 21.10.2014 that in the case of pre-1996 retired medical officers, NPA @ 25% shall be added to the minimum of the revised scale of pay as on 1.1.1996 corresponding to the pre-1996 pay scales from which the pensioner had retired, in cases where consolidated pension/family pension was to be stepped up to 50% / 30% respectively of the minimum of revised pay-scale in terms of OM No.45/10198-P&PW(A) dated 17.12.1998 read with OM No.45/86/97-P&PW(A) (Pt.) dated 11.5.2001.

3. In this Department’s OM of even number dated 14.7.2009, it was clarified that in the case of pre-2006 pensioners, Non-Practicing Allowance is not to be added to the minimum of the revised pay band+Grade Pay/revised pay scale in cases where consolidated pension/family pension as on 1.1.2006 is to be stepped up to 50% / 30% respectively in terms of para 4.2 of Department of Pension & Pensioners’ Welfare OM No.38/37/08-P&PW(A) dated 1.9.2008 (as clarified vide OM dated 3.10.2008 and 14.10.2008).

4. In the OM No. A.45012/2/2008-CHS.V dated 29.9.2008 of Ministry of Health & FW, it is provided that NPA will be treated as pay for the purpose of computing Dearness Allowance, entitlement of Travelling Allowance and other allowances as well as for calculation of retirement benefits. Therefore, the ratio of the said judgement dated 27.11.2013 in CA No.10640-46/2013 would be applicable for revision of pension/family pension of pre-2006 retired civilian medical officers w.e.f. 1.1.2006 also. Accordingly, the OM dated 38/37/08-P&PW(A) dated 14.7.2009 is hereby withdrawn. In the case of pre-2006 retired medical officers, NPA @ 25% would be required to be added to the minimum of the pay in the revised pay band plus grade pay (or minimum of pay in the revised pay scale in the case of HAG and above) as on 1.1.2006 corresponding to the pre-revised pay scale from which they retired, in cases where pension family pension is to be stepped up to 50%130% of the minimum pay respectively.

5. Similarly, for revision of pension family pension w.e.f. 24.9.2012 in terms of OM dated 28.1.2013, NPA @ 25% would be required to be added to the minimum of the pay in the revised pay band plus grade pay (or minimum of pay in the revised pay scale in the case of HAG and above) corresponding to the pre-revised pay scale from which they retired as arrived at with reference to the fitment table annexed to the Department of Expenditure’s OM dated 30.8.2008 subject to the condition that the basic pay plus NPA does not exceed Rs.85,000/- .

6. This issues with the approval of Ministry of Finance, Department of Expenditure vide their I.D. No. 7211E-V/2014 dated 2.1.2015 and Ministry of Law F.No.213/Advice’A’/2015 dated 29.1.2015.

7. Hindi version will follow.

(Tripti P. Ghosh)
Director

Source:http://ccis.nic.in/WriteReadData/CircularPortal/D3/D03ppw/PPWA_18022015.pdf

Budget 2015: NMC urges FM to raise IT exemption limit to Rs 5 lakh

Monday, February 16, 2015

JAMMU: The National Mazdoor Conference today asked Union Finance Minister Arun Jaitley to raise the income tax exemption limit to Rs 5 lakh.

"We urged Union Finance Minister to raise the Income Tax exemption limit to Rs five lakh," National Mazdoor Conference (NMC) President Subash Shastri said while addressing a series of rallies at Kanjali and Bomyal in Nagrota Block here today.

Shastri also appealed he Finance Minister to announce non inclusion of amount of DA to calculating income tax as the DA instalments are released by the government from time to time to utilise the impact of price rise and inflation.

Shastri emphasised the need for immediate merger of 50 per cent DA into basic pay and pension as per the recommendations of the Fourth Pay Commission.

He added that all these burning issues impacting both the Central and State Governments Employees and pensioners should be addressed by the Union Finance Minister while presenting the budget for 2015-16 in the coming Budget Session of Parliament beginning on 23rd of this month.

He also demanded immediate release two DA instalment of 17 per cent in favour of State Government Employees and pensioners, pointing out that while Central Government is about to release another instalment 6 per cent DA in favour of its employees and pensioners from Jammu 2015 but it is unfortunate that the salaried class in the state has not got the benefit previous two DA instalments.

He also demanded early regularisation of the 62,000 daily rated workers beside release of their wages without any further delay.

Source:http://economictimes.indiatimes.com/news/economy/policy/budget-2015-nmc-urges-fm-to-raise-it-exemption-limit-to-rs-5-lakh/articleshow/46245852.cms

Home Loan Rates in 2015: Here's Your Guide

As soon as one starts looking out at properties to buy a house, banks start offering home loans. This can be overwhelming at times. Making a choice then largely depends on comparing what competitor banks have to offer. Here is a list, which compares home loan rates by different banks.

For a loan amount up to Rs 30 lakh and the tenure being 15-20 years, the following is on offering.

1. Floating interest rate of 10.15 per cent
This rate is being offered by the following organizations:

    SBI ( State Bank of India)
    ICICI Bank
    HDFC Bank
    HSBC Bank
    Axis Bank
    PNB Housing Finance
    DHFL
    India Bulls ( Up to Rs 25 lakh)
    Citi Bank
    Tata Capital Housing Finance Ltd

EMI per lakh works out to be Rs 975.

SBI charges a processing fee of 0.25 per cent of the loan amount up to Rs 25 lakh or minimum Rs 1000. For a loan amount above Rs 25 lakh the processing fee is Rs 3,250. Citibank charges 0.25 per cent of the loan amount. ICICI, HDFC and PNB charge 0.5 per cent of the loan amount as processing fees. However, HDFC has capped the maximum amount to Rs. 10,000. Whereas, Axis Bank and HSBC charge a minimum processing fee of Rs 10,000 or 1 per cent of the total loan amount. DHFL charges Rs 5000 plus document charges and taxes and India Bulls charges Rs 7,500 plus taxes.

2. Floating interest rate of 10.20 per cent
This rate is being offered by the following banks:

    Federal Bank
    Bank of India
    UCO Bank
    Canara Bank

The EMI per lakh works out to be Rs 978.

Federal Bank and UCO Bank both charge 0.5 per cent of the loan amount. The minimum amount charged is Rs 3000 and Rs 1500 whereas maximum is Rs 7500 and Rs 15,000 respectively by both the banks. Bank of India has decided to waive off processing fees on new loans sanctioned up to March 2015.

3. Floating interest rate of 10.25 per cent
This rate is being offered by the following lenders:

    IDBI
    Punjab National Bank
    Allahabad Bank
    Central Bank of India
    Corporation Bank
    Union Bank of India
    United Bank of India
    Bank of Baroda
    Oriental Bank of Commerce
    Kotak Bank
    Dena Bank
    First Blue Home Finance
    Syndicate Bank
    Indian Overseas Bank
    State Bank of Travancore
    Indian Bank

The EMI per lakh works out to be Rs 982.

IDBI, Punjab National Bank and Oriental Bank of Commerce have NIL processing fees. State Bank of Travancore does not charge any processing fee up to a loan amount of Rs 25,000 and United Bank of India has waived off processing fee for a loan amount up to Rs 75 lakh. Processing fee ranges from 0.25 per cent to 0.5 per cent of the loan amount. Allahabad Bank charges 0.6 per cent of the loan amount with a cap of Rs 12,000 while India Overseas Bank charges 0.58 per cent of the loan amount with a cap of Rs 10,190.

4. Floating interest rate of 10.26-10.30 per cent
Standard Chartered Bank offers 10.26 per cent on home loans with a processing fee of Rs 5500 plus service tax. The EMI works out to be Rs 982.

Vijaya Bank charges 10.30 per cent and the EMI works out to be Rs 985. The processing fee is 0.25 per cent of the loan amount with a cap of Rs 10,000.

5. Floating interest rate of 10.50 per cent and above
    Deutsche Bank offers an interest rate of 10.5 per cent and a flat processing fee of Rs 12,000 plus taxes. EMI per lakh works out to be Rs 998.
    Bank of Maharashtra offers 10.55 per cent (up to 25 lakh) and 10.75 per cent above that. Accordingly the EMI works out to be Rs 1001 and Rs 1015 respectively. Processing fee is 0.25 per cent of the loan amount subject to maximum of Rs 25,000.
    ING Vysya offers 10.75 per cent, the EMI for which works out to Rs 1015. Processing fee is 0.5 per cent of the loan amount.
    Development Credit Bank and Dhanalakshmi Bank offer 11.50 per cent and charge a processing fee of 1 per cent. EMI per lakh works out to be Rs 1066.

6. Fixed rates on offer
    LIC Housing Finance offers 10.10 per cent (fixed for 2 years)
    HDFC Ltd offers 10.15-10.65 per cent (fixed for 2-3 years) and 10.25- 10.75 per cent (fixed for 10 years).
    Axis Bank offers 10.40 per cent (fixed for 20 years)

Look out for festive offers when processing fee is waived off and always negotiate for better rates. Request your bank official to share complete details so that there are no surprises in the form of hidden charges, pre-payment charges etc. Also, find out about special rates applicable for self-employed individuals and women.

Hope this compilation helps you in analysing what suits you best.
Data source: deal4loans.com

Read at:http://profit.ndtv.com/news/your-money/article-home-loan-rates-in-2015-heres-your-guide-739557

Courtesy:http://karnmk.blogspot.in/2015/02/home-loan-rates-in-2015-heres-your-guide.html

Age limit may be raised to 60 years-EPFO

Retirement fund body Employees’ Provident Fund Organisation’s trustees in a meeting on Thursday will consider a proposal to raise the age limit from 58 to 60 years for vesting of pension under the Employees’ Pension Scheme (EPS-95).

At present, a formal sector worker covered under the EPS-95 can make contributions towards pension scheme till the age of 58 years and can claim pension after that.

The Pension Implementation Committee (PIC) has recommended an increase in the age for vesting pension to 60 years, while suggesting that the Actuary should be asked to develop a model to give incentive to those persons who opt for drawing pension at the age of 60 years.

An actuary analyses financial consequences of risk after studying uncertain future events, particularly of concerns to pension and insurance plans.

Raising the age limit would reduce the deficit in pension fund and would increase the pension benefits of members as there would be two additional years of service, as per the agenda listed for the meeting of the Employees’ Provident Fund Organisation’s (EPFO) apex decision making body the Central Board of Trustees (CBT).

According to a report of the valuer on the scheme, increasing the age limit would reduce the shortfall in the pension fund to the extend of Rs 27,067 crore.

The level of deficit is not a matter of concern, though it is recommended that the EPFO should look into investment returns more carefully and do not increase benefits without consulting Actuary and do sensitivity analysis more frequently, the valuer has suggested. — PTI
Source:http://www.tribuneindia.com/news/nation/age-limit-may-be-raised-to-60-years/42668.html
 

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