It was clarified by SB Order no 16/2012 released 0n 16.11.2011 that NSCs can be purchased by an Adult in the name of a Minor irrespective of any relation.
Click here to view SB order no 16/2012.
Click here to view SB order no 16/2012.
Thursday, November 22, 2012
Wednesday, November 21, 2012
Postal Life Insurance coverage extended to new groups
As a positive development and an appropriate strategy for publicity and securing business, Department of Post has approved expension of the clientele eligible for PLI. Henceforth, the PLI can be extended to the following groups:
•Employee engaged/appointed on contract basis by Central/State Goverment, where the contract is extendable.
•Employees of Joint Venture in which Central/State Government/Public Sector Undertaking/ Nationalised Banks have minimum holding of 10 percent.
Travelling Allowance applicable to Central Government Employees- A re-visit
Travel entitlements based on grade pay for reimbursing actual cost of journey performed by Central Government Employees by Air and Rail are as follows
Journey by Rail / Air
1. Class of accommodation according to grade pay:
From 01.09.2008, Central Government Servants are entitled for accommodation as follows.
| Grade Pay | Travel Entitlement |
| Officers drawing grade pay of Rs.10,000 and above and
those in pay scale of HAG + and above
| Business / Club Class by air / AC
First class by train
|
| Officers drawing grade pay of Rs.7,600 and Rs.8,900 | Economy Class by air / AC First
class by train
|
| Officers drawing grade pay of Rs.5,400 and Rs.6,600 | Economy Class by air / AC II Tier class by train |
| Officers drawing grade pay of Rs.4,200, Rs.4,600 and Rs.8,900 | AC II Tier class by train |
| Officers drawing grade pay below Rs.4,200 | First class / AC III Tier / AC Chair
car by train
|
Officers drawing Grade Pay of Rs.7600 and above are entitled to travel on tour by Executive Class in Shatabti Trains / AC first class in Rajdhani Train.
RIGHT TO INFORMATION ACT2005 DOWNLOAD LINK
Dear Friends,
Right to Information Act 2005, download link released. You can download the RTI hand book in your local language for further detailed reference. You could download the manual in PDF format. You should have Adobe/Acrobat Reader software installed system to read the RTI Manual
Expected DA upto 81% from January, 2013 on September, 2012 AICPI-IW index
Expectation of future Dearness Allowance from January, 2013 on the basis of 2 points jump in CPI-IW for the month of August, 2012 and 1 point jump in September, 2012 giving expectation for DA 80% or more from January 2013.
All India Consumer Price Index Number [http://labourbureau.nic.in/indtab.html] for Industrial Workers (CPI-IW) on base 2001=100 for September, 2012 showing increase in 1 point and stood at 215 (Two hundred and fifteen).
Saturday, November 10, 2012
THINGS YOU SHOULD KNOW ABOUT HRA AND TAX BENEFITS
House Rent Allowance (HRA), is an important component in our salary slips, with upto 30% of basic pay (+DP) in metros. HRA is the allowance given to meet the staff's expenses towards renting an accommodation. Though very simple in concept and calculation, the tax implications of the HRA, puzzles many a people. Here are 7 must knows, to help you utilise this component of your salary in a tax efficient manner.
1) Conditions you need to satisfy for a HRA exemption
Under Section 10 of the Income Tax Act, certain exemptions are permissible on the received HRA. To claim such exemptions one must satisfy the below conditions.
The employee must not own the property in which he is residing.
Employees must be paying rent for the accommodation in which residing.
Such rent must be more than 10 per cent of his/her salary (see section 5).
if not, an exemption cannot be availed if there is no HRA component in the salary.
2) Calculating HRA for tax exemption
HRA tax exemption is based on the HRA received, basic pay, actual rent paid as well as if you stay in metro or non-metro. The amount exempted from the tax calculations is the least of the following.
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CENTRAL GOVERNMENT EMPLOYEES’ WELFARE COORDINATION COMMITTEES STAFF WELFARE
The Central Government being the largest single employer in the country, bears the major responsibility of looking after the welfare of a large number of employees spread all over the country. This Ministry recognizing that welfare of employees is one of the prime tasks of personnel management, provides and aids a large network of staff welfare programmes, thereby underlining the fact that improvement in the working and living conditions of the employees and their families, leads to efficiency and high morale amongst them.
A brief account of the various welfare programmes/organizations under this Ministry is given below:
CENTRAL GOVERNMENT EMPLOYEES’ WELFARE COORDINATION COMMITTEES :
Outside Delhi at a place where there are at least 5 Central Government Offices and the total number of Central Government employees is not less than 1,000, the Central Government; Employees Welfare Coordination Committee has been formed. These Committees are responsible for coordinating the welfare activities of the Central Government employees serving within their jurisdictions. At present, there are 41 such Coordination Committees located in different parts of the country. Senior most ficer in the station is the Chairman of the Committee.
RESIDENTS WELFARE ASSOCIATIONS:
In order to foster a spirit of mutual help and goodwill among the residents of government colonies and to promote amongst them social, cultural and recreational activities, Resident Welfare Associations have been recognizedin Delhi and in other parts of the country. At present, there are 66 such Associations. The members of Management Committee of these Associations are elected by holding elections every two years under the provisions of the Model Constitution framed by this Department.
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