AIPEU GDS (NFPE) PRINCIPAL CAT CASE
THE NEXT DATE OF HEARING IS 08.05.2015.
Friday, March 20, 2015
Monday, March 16, 2015
Cabinet may approve 6 percent DA hike next week
Written By Admin on March 15, 2015 | Sunday, March 15, 2015
Cabinet may approve 6 percent DA hike next week: The Sen Times
New Delhi: The Union Cabinet is likely to approve hiking dearness allowance (DA) to 113 per cent from existing 107 per cent benefiting 30 lakh central government employees and 50 lakh pensioners in its meeting scheduled in next week.
“The Union Cabinet will take a proposal to hike Dearness allowance for its employees and dearness relief for its pensioners to 113 per cent in next week as per agenda listed for the meeting,” a source said.
The hike in DA would be effective from the January 1 this year.
As per practice, the government uses Consumer Price Index- Industrial Workers ( CPI-IW) data of the past 12 months to arrive at a quantum for the purpose of any DA hike.
Thus, the CPI-IW from January 1 to December 31, 2014 would be used to take a final call on the matter.
The CPI (IW) of the months January, February, March, April, May, June and July were 237, 238, 239, 242, 244, 246 and 252 respectively.
The consumer price index -industrial workers (CPI-IW) remained stationery at 253 for last five months August to December, 2014.
“The average of the consumer price index -industrial workers (CPI-IW) from January 1, 2014 to December 31, 2014 works out to be 6.3 per cent. Thus the Central government will hike dearness allowance for it employees by 6 per cent,” the source added.
However, the employees’ bodies are pressing hard to merger of 50 percent DA with basic pay but it has not been given heed by the seventh Pay Commission as well as the government.
The merger of 50 percent DA was discontinued in the Sixth Pay Commission but the Fifth Pay Commission had recommended that if the DA crosses more than 50 percent then it should be clubbed with the basic pay.
Read at: The Sen Times
Sukanya Samriddhi Account Vs PPF: 10 Things to Know
The recently launched Sukanya Samriddhi Account (SSA) and Public Provident Fund (PPF) can be useful instruments for saving for the future needs of the children. The Sukanya Samriddhi Account can only be opened in the name of the girl child while PPF scheme can be availed by all. Experts say PPF scores over Sukanya Samriddhi Account in terms of liquidity (partial withdrawal facility) and other flexibilities. But Sukanya Samriddhi Account could potentially give higher returns, they add.
Eligibility: A Sukanya Samriddhi Account can be opened by the guardian in the name of a girl child till she attains the age of ten years. Only one account is allowed per girl child. Parents can open this account for a maximum of two children.
Limit: An investor can open PPF accounts in the name of minors but a maximum of Rs.
1.5 lakh can be deposited every year including all the accounts. In case of Sukanya Samriddhi Account, a maximum of Rs 1.5 lakh can be deposited per account.
Account Opening: A Sukanya Samriddhi Account can be opened with an amount of Rs.
1,000 while it is Rs 100 for a PPF account. Both these accounts can be opened at post offices and banks.
A charge of Rs 50 will be levied both in Sukanya Samriddhi Account and PPF if the minimum contribution is not made every year.
Minimum and maximum contribution: In an Sukanya Samriddhi Account, a minimum of Rs. 1,000 has to be deposited every year and the maximum limit is Rs. 1.5 lakh. And there is no limit on number of deposits either in a month or in a financial year.
In case of PPF, an individual but has to deposit a minimum of Rs. 500 in a financial year while the maximum limit is Rs.1,50,000. And deposits can be made in lump-sum or in 12 installments.
Maturity: The Sukanya Samriddhi Account can be closed after the girl child in whose name the account was opened completes the age of 21. If account is not closed after maturity, the balance will continue to earn interest as specified for the scheme from time to time. The maturity period of a PPF account is 15 years but it can be extended in blocks of five years.
Taxation: In terms for taxation, deduction up to Rs. 1.5 lakh is allowed under Section 80C in both the Sukanya Samriddhi Account and PPF. Also, both the schemes qualify for tax-free status on withdrawal and interest income.
Withdrawal: Partial withdrawal is permissible every year from the seventh financial year of opening the PPF account. In case of Sukanya Samriddhi Account, up to 50 per cent of the accumulated amount can be withdrawn after the account holder turns 18 while full withdrawal is possible after she turns 21.
Interest rate: The interest rate on Sukanya Samriddhi Account and PPF is not fixed. The government will every year declare the interest rate of the scheme. For 2014-15, the government would be paying 9.1 per cent interest on Sukanya Samriddhi Account against 8.7 per cent on PPF.
Loan: A loan facility is available from the third financial year of opening the PPF account. In Sukanya Samriddhi Account there is no such facility.
What Experts Say: Anil Rego, CEO of Right Horizons, a wealth management firm, said the choice between Sukanya Samriddhi Account and PPF is a trade-off between more flexibility and higher returns. PPF offers more flexibility while Sukanya Samriddhi Account can potentially give higher returns, he added. Investors with surpluses can look at the distributing their investments in both the schemes, Mr Rego added.
Suresh Sadagopan, the founder of Ladder 7 Financial Advisories, says both the Sukanya Samriddhi Account and PPF are similar schemes in nature in the debt space under Section 80C. The Sukanya Samriddhi Account is a good alternative if investors are comfortable at locking their money for a long time, he added.
Source : NDTV
Saturday, March 14, 2015
DEPARTMENT OF POSTS REFERRED THE GDS CASE TO FINANCE MINISTRY FOR INCLUSION IN 7th CPC
Meeting with with PJCA
To
The Chairman / Secretary
Postal Joint Council of Action
Subject: Meeting held with PJCA on 05/02/2015 under the Chairpersonship of Secretary (Posts)
Dear Sir,
As decided vide Point 2 of the minutes of above meeting, this is to inform you that the proposal of GDS for their inclusion within the terms of reference of 7th CPC has been endorsed to the Department of Expenditure for re-consideration. Sd/-
(Arun Malik)
Director (SR & Legal)
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