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Sunday, January 25, 2015

Modi Government is set to big announcement on Budget in view of 7th Pay Commission

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Good days will come for Central Government Employees, get 6% dearness allowance
Modi Government is set to big announcement on Budget in view of 7th Pay Commission

It is certain that 6% increase in DA is guaranteed. Here it is necessary to mention that the DA is increased twice in a year. Central government employees are paid from the first of January and July.  As we're told that the DA is 6 percent of total will be 113%. But it is also a provision that if the DA crossed 100 mark will be merged in the basic salary. The employee unions are pressing hard for the merger of DA in the basic pay. But neither the government nor the Seventh Pay Commission is committed at this point. The government has also not in mood to merge the DA in the basic pay. If that happens, this will be bad news for the employees.

Friday, January 23, 2015

CGEGIS Table 2015 issued

CGEGIS Table 2015: Central Government Employees Group Insurance Scheme-1980 — Tables of Benefits for the savings fund for the period from 01.01.2015 to 31.12.2015.

No.7(1)/EV/2014
Government of India
Ministry of Finance
Department of Expenditure

New Delhi, the 22nd January, 2015

OFFICE MEMORANDUM
Sub: Central Government Employees Group Insurance Scheme-1980 — Tables of Benefits for the savings fund for the period from 01.01.2015 to 31.12.2015.

3-year bank FDs may get tax exemption

3-year bank FDs may get tax exemption: Economic Times

The government may consider the demand of banks to make fixed deposits for three years and more tax-free instead of the five-year lock-in period at present, providing these lenders a level-playing field with mutual funds and tax-free bonds that have been weaning away a large chunk of investors.

Indicating this possibility, officials said bank executives and heads of financial institutions also requested finance minister Arun Jaitley in a pre-budget meeting to consider separate tax slabs for corporate entities on the lines of different tax slabs for individuals.

"The view from the pre-budget meeting is that FDs of lower maturity should be considered for tax benefits," said a person present in the meeting.

ECHS Application Form for membership - Revised 2014

EX-SERVICEMEN CONTRIBUTORY HEALTH SCHEME (ECHS)
APPLICATION FORM FOR MEMBERSHIP (REV 2014)

GENERAL INSTRUCTIONS
1. Eligibility
(a) Should be an Ex-Serviceman and drawing pension/disability pension/family pension from Controller of Defence Accounts including Indian Coast Guard personnel.

(b) War Widows (Veer Naris) / NOK of Battle causalities.

Restructuring of FCI: Recommendations of High Level Committee

Press Information Bureau
Government of India
Ministry of Consumer Affairs, Food & Public Distribution
22-January-2015 16:03 IST
Recommendations of High Level Committee on restructuring of FCI

            High Level Committee (HCL) on restructuring of Food Corporation of India (FCI) has submitted its report to the Government. It was submitted by Shri Shanta Kumar, Chairman of the Committee to the Prime Minister, Shri Narendra Modi yesterday. The HCL was set up by the Government on 20th August, 2014.The major issue before the Committee was how to make the entire food grain management system more efficient by reorienting the role of FCI in MSP operations, procurement, storage and distribution of grains under Targeted Public Distribution System (TPDS). 

Shortlisting of HCOs under continuous Empanelment scheme in Delhi/NCR

Shortlisting of HCOs under continuous Empanelment scheme in Delhi/NCR

F. No: S.11045/36/2012-CGHS (HEC)
Government of India
Directorate General of Central Government Health Scheme
Ministry of Health & Family Welfare

Nirman Bhawan, New Delhi.
Dated the 22nd January, 2015
Shortlisting of HCOs under continuous Empanelment scheme in Delhi/NCR.
Continuous empanelment scheme had been started in all CGHS cities except Mumbai w.e.f. 10.12.2014. In Delhi/NCR applications received till 19.01.2015 has been scrutinized by screening committee regarding their technical eligibility and names of the qualified HCOs is given below.

Thursday, January 22, 2015

What not to do for tax exemptions, deductions to stay

What not to do for tax exemptions, deductions to stay: Financial Express

The Income tax Act, 1961 (the Act),  provides for certain deductions and exemptions that are available upon the fulfilment of certain conditions. However, to ensure that such benefits don’t encourage short-term investments, the provisions also have conditions for withdrawal of the deductions/exemptions claimed earlier. Here are some key deductions/exemptions that may be reversed for non-fulfilment of the prescribed conditions.

PF withdrawals within 5 years. 
An employee’s contribution to PF is eligible for deduction up to R1.5 lakh per tax year. However, if the amount is withdrawn before five years of continuous service (except when service is terminated due to employee’s ill health or by contraction or discontinuance of employer’s business or for reasons beyond the employee’s control), the deduction claimed stands withdrawn. In such a case, the contribution would become taxable in the year of withdrawal. Even employer’s contribution, together with the accrued interest thereon, which was exempt earlier, would become taxable as ‘profits in lieu of salary’ and the interest on the employee’s contribution would get taxed as ‘Income from other sources’.

Retirement age at 58 is justified – Punjab & Haryana High court

Retirement age at 58 is justified – High court – Tribune News
Saurabh Malik, Tribune News Service
Chandigarh, January 20

The Punjab and Haryana High Court today ruled that the decision to enhance the employees’ retirement age from 58 to 60 by the previous Congress government led by Bhupinder Singh Hooda was an attempt to garner votes just before the Assembly elections; and was not an honest decision.

The scathing observations on the previous government’s conduct came as Justice Tejinder Singh Dhindsa upheld the Khattar government’s decision of reducing the age from 60 to 58.

Justice Dhindsa ruled: “The timing of such decision cannot be lost on this court. The state Assembly elections were around the corner. The Model Code of Conduct was on the verge of being imposed. The decision to enhance the age of retirement and that too in derogation of the relevant rule can only be seen as an attempt to garner a particular vote bank…

ECHS Order: Unlisted Cardiac Implants - MRI Safe Pacemaker and ICDs

ECHS Order: Unlisted Cardiac Implants - MRI Safe Pacemaker and ICDs
Integrated Headquarters
Ministry of Defence (Army)
Maude Lines
Delhi Cantt-110010
B/49773/AG/ECHS/Rates/Policy
20 Jan 2015

UNLISTED CARDIAC IMPLANTS: MRI SAFE PACEMAKER AND ICDs
1. Cardiac implant rates were revised by ECHS vide their letter No B/49773/AG/ECHS/Rates/Policy dt 06 Aug 2014. Many empanelled hospitals have now resorted to filling up appx ‘A’ for MRI safe pacemaker and ICDs as unlisted implants at rates many times higher than the listed cardiac implants.
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