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Friday, March 30, 2012

Consumer Price Index for February at 199

All India Consumer Price Index Number for Industrial Workers (CPI-IW) for the month of February, 2012 has been announced and stands at 199 (one hundred & ninety nine) increasing by one point from previous month. During February, 2012, the index recorded maximum increase of 5 points in Puducherry centre, 4 points each in Ahmedabad, Bangalore and Mariani Jorhat centres, 3 points in 4 centres, 2 poin....

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Friday, March 16, 2012

EPF rates cut to 8.25

The government has cut the interest rate on the Employees' Provident Fund (EPF) by 1.25% to 8.25%for 2011-12, giving millions of salaried employees lower returns on their retirement fund, media reports said on Friday. The Employees' Provident Fund Organisation (EPFO) had provided 9.5 per cent interest rate to its subscribers for 2010-11 after it found Rs 1,731 crore surplus in its books of account....
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Government can retire any Government servant after age of 50/55 years or 30 years of service

Rule 16(3) of the All India Services (DCRB) Rules, 1958has been amended on 31st January, 2012 which provides that the Central Government may in consultation with the State Government concerned, require a Member of the All India Service (AIS) to retire from Service in public interest, after giving such Member at least three month’s previous notice in writing or three month’s pay and allowances in l....
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Government on the finishing stages of preparation of the guideline for performance based incentives to employees

The Government was working on guidelines to give performance based incentives to its employees.The Sixth Central Pay Commission has recommended the introduction of new performance based pecuniary benefit, over and above the regular salary, for Government employees. The benefit will be called Performance Related Incentive Scheme (PRIS) and will be payable taking into account the performance of the ....
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Budget : Dissapointment for the Salaried Class

The budget, which the salaried class was keeping much expectations was an absolute disappointment. The only relief was IT exemption being raised to just Rs 2 lakh. But the hike is very less compared to what the Standing Committee on Finance has recommended. The committee has recommended to the government that individuals earning between Rs 3 and Rs 10 lakh should pay 10% tax, those earning between....
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Personal Income tax rates cut for various slabs

The Budget Tax and other HighlightsThe new tax rates:Upto Rs 2 lakh : NILFrom Rs 2 lakh to Rs 5 lakh at 10%,Rs 5 lakh to Rs 10 lakh at 20%,And beyond Rs 10 lakh at 30%.Health insurance deduction upto Rs 5000 for preventive health checkup.Interest income from banks tax-free upto Rs 10,000No advanced tax requirement for senior citizens....
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Tuesday, March 13, 2012

Government mooting health insurance scheme focusing non-CGHS areas

Government said it was contemplating introduction of a health insurance scheme for central government employees and pensioners with special focus on non-CGHS areas.Stating this in a written reply to a question in the Rajya Sabha, Health Minister Ghulam Nabi Azad said the serving central government employees in non-CGHS areas are provided healthcare facilities under the CS (MA) Rules, 1994, but pen....
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Monday, March 5, 2012

Employees can't be denied promotion arbitrarily: Delhi HC

Delhi High Court made a ruling that the Government employees cannot be deprived of promotion arbitrarily & without any reasonable ground.A bench of Justices BD Ahmed and VK Jain noted, "It is true that no employee has a vested right to promotion, but respondents (employer) cannot act arbitrarily and without any reasonable excuse defer the meeting of Departmental Promotion Committee (DPC) and, ther....
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