Tuesday, 26 April 2016

New URL For IMO Web Site, India Post

The web address for IMO, India Post has been changed. Click below link to Open IMO website for Booking / Make Payment. https://www.epostoffice.gov.in/imo/

Norms relaxed for Selvamagal scheme

In a bid to generate more interest among people in opening Selvamagal Semippu accounts (SSA) in the names of their daughters, the postal department has relaxed certain norms.

Now, people can pay deposits for 15 years towards SSA from the time of opening of the savings account. Earlier, it was restricted to 14 years. At present, long-term saving schemes like Public Provident Fund scheme too accept deposits for 15 years. The SSA scheme was launched in February last year for the welfare of girl children. Currently, there are over 12.34 lakh accounts across the State, with nearly 4.38 accounts in Chennai city.

Restrictions on withdrawal were a hitch in attracting more investors to the scheme. Customers could opt for partial withdrawal only when the applicant turned 18 years old. Now, account holders can withdraw up to 50 per cent of the balance accrued till the previous financial year for higher education once the girl child completes class X.

Officials of postal department said the account holder had to produce documentary proof like fee receipt to withdraw from their balance, including an option of withdrawing in five instalments. People will have to pay a minimum of Rs.1,000 to avoid penalty charges. However, depositors in SSA have to wait for 21 years for the amount to mature. They also have an option to close the account one month before or three months after the wedding date.

Another norm relaxed now is the option for premature closure after five years of opening the account in case of medical expenditure of account holder or death of guardian. “There has not been any dip in new accounts because of the reduction in interest rate and it continues to be one of the popular savings scheme. On an average, nearly 18,000 SSAs are being opened in the city post offices. Nearly Rs. 324 crore has been deposited through SSA so far,” said an official.

Source: http://www.thehindu.com/news/cities/chennai/norms-relaxed-for-selvamagal-scheme/article8517925.ece

7th Pay Commission – Two Critical Points Highlighted to Empowered Committee by Dorai, DD ESIC Model Hospital

7th Pay Commission – Two Critical Points Highlighted – The financial benefit would be much lower than what a government servant would be getting under VI CPC recommendation on promotion.

Two Critical Points highlighted to Empowered Committee by Dorai on 7th pay commission.

Mr.M.Dorai, Deputy Director, ESIC Model Hospital, Bangalore (Ministry of Labour, Government of India, is the author of this article.

“In addition to the various genuine demands raised by the various Central Government Employees Federations/Associations about the 7th pay commission recommendations with the Empowered Committee of Secretaries, I would like them to bring these 2 important crucial issues before the Empowered Committee of Secretaries for implementation:

1. RETENTION OF 3% INCREMENT IN VII CPC RECOMMENDATIONS IN CASE OF PROMOTION LEADS TO LOWER FINANCIAL BENEFITS BY FEW THOUSANDS THAN THE EXISTING BENEFITS UNDER 6TH CPC RECOMMENDATIONS :

The financial benefit would be much lower than what a government servant would be getting under VI CPC recommendation on promotion, because the existing benefit on promotion carry change in grade pay apart from 3% increase in Pay+Grade Pay. The following illustration shall show the huge difference:

Suppose an employee whose Pay is Rs.10400/- and the Grade pay is Rs. 2800/- totalling to Rs.13200(in the Pay band of 5200-20200), gets his next promotion to the Grade Pay of Rs.4200/- he will be entitled to the following hike in total remuneration under the existing VI CPC recommendation as a result of promotion:

Rs.13200 x 3% increment =Rs.400
Difference in Grade Pay from Rs.2800 to Rs.4200= Rs.1400
Total increase of increment in basic pay and Grade Pay= Rs.1800
D.A. at 125% as on 1/1/2016 on Rs.1800 = Rs.2250
HRA at 30%(assuming X city) on Rs.1800 =Rs.540
Total monetary benefit = Rs.4590/-

Whereas the net monetary benefit under VII CPC recommendation, as a result of promotion in the above case will be much lower than the above illustration as shown under:

Equivalent Basic Pay for Rs.13200 come to Rs.33900 as per pay matrix
Rs.33900 x 3% increment =Rs.1017(placed at Rs.35,400 as per pay matrix in the next level)
Total difference Rs.35400 – Rs33900 =1500
D.A. at 0% as on 1/1/2016 on Rs.1500= 0
HRA at 24%(assuming X city) on Rs.1500 =Rs.360
Total monetary benefit = Rs.1860/-only as against the existing Rs.4590/- leading to shortage of Rs. 2730/-
This is a big blunder committed by the VII Pay commission.
Therefore the increment on promotion should be atleast 5 to 6% to bring the benefit of increment on promotion to the existing level.

Whether increase of percentage for annual increment is considered or not, but increment of percentage for promotions definitely need to be implemented to bring the level of monetary benefit to the existing level.

2. NON RECOMMENDATION OF VII CPC REGARDING MERGER OF 50% OF D.A. WITH BASIC PAY WHEN D.A. CROSSES 50% IS A GREAT DISAPPOINTMENT:

The long standing demand of the central government employees for merger of 50% D.A with basic was not implemented by the government on the excuse that the VI CPC had not made such a proposal. Even the 7th pay commission is totally silent about this aspect. It appears no one has demanded the same before the VII CPC for consideration.

It is quite surprising that such a vital issue of non-recommendation of merger of D.A with basic pay when D.A crosses 50% is not being opposed by any central government associations or pointed out by the media. Had it been recommended by the 7th pay commission, the government shall definitely implement the same and the benefit of hike in salary as a result of merger of D.A with basic when it cross 50%, would be so vast that no government servant would crave for timely setting up of next VIII Central Pay commission”.

Source: www.gconnect.in