Demonetisation to pave way for higher allowances for central government employees?
Business & Finance   Friday, January 6, 2017 IST
 
Demonetisation to pave way for higher allowances for central government employees?

Demonetisation to pave way for higher allowances for central government employees?

New Delhi: Central government workers looking for higher remittances under seventh Pay Commission are sticking trust on government climbing their stipends once the clean settles on demonetisaion.

According to a site staffnews.in, focal government workers feel that Finance Ministry is "better set now after demonetisation to choose raising stipends as suggested by the seventh Pay Commission".

"The workers are trusting that with the expanded assets stream post demonetisation, government s better set to meet the requests of govt representatives. As has been apparently before, the second absolution conspire for assessment defaulters – Pradhan Mantri Garib Kalyan Yojana, 2016 – evaluated to net the Modi government a considerable sum, the money related outgo of Rs 1,02,100 crore no longer is by all accounts an obstacle", said the site .

As indicated by Bank of America Merrill Lynch (BofA-ML), other than containing the monetary shortfall, the extra expenses under the IDS II would subsidize the seventh Pay Commission and in addition recapitalise PSU banks without reducing open capex.

The government  is relied upon to raise Rs 1,00,000 crore of extra duties under the Income Disclosure Scheme II (IDS II), which thus will help in containing the 2017-18 financial shortfall, said the report.

The government on December 16, had reported that the second Income Disclosure Scheme (IDS II) will keep running till March 31. Under this plan, dark cash hoarders would have time until March-end to confess all by paying 50 percent assess on bank stores of trashed monetary forms post demonetisation.

The government workers likewise trust that their requests may come through after the Budget 2017-18 in February.

They are trusting the government will rapidly proceed onward the issue that includes around 47 lakh Central government workers and 53 lakh retired people, of which 14 lakh representatives and 18 lakh beneficiaries are from the protection strengths.

National Council of the Joint Consultative Machinery (JCM) has additionally asked for an early redressal of the issue.

"Just about four months have gone (since September 1, 2016 meeting) with no result. All the Central Government Employees are very fomented and also are having mental desolation since stipends of the VII CPC, have not been actualized. You are in this manner, asked for to repair a meeting of the Committee on Allowances, at a most punctual to determine the issues set in the update of the Staff Side(JCM) on different remittances," said Shiv Gopal Mishra, Secretary, Staff Side in a note kept in touch with Finance Ministry.

The seventh Pay Commission had analyzed 196 remittances and gave its suggestions on canceling or raising some of them, and prescribing others to be subsumed with different advantages. It had proposed 138.71 percent climb in HRA and 49.79 percent for different stipends, while presenting its voluminous report in November 2015.



 
 
When you change job. PF account will be transferred automatically
Business & Finance   Friday, January 6, 2017 IST
 
When you change job. PF account will be transferred automatically

When you change job. PF account will be transferred automatically

New Delhi: If you intend to change your job next month, you won't need to stress on the Provident Fund viewpoint.

From September, the Provident Fund of your present association will be naturally exchanged to the following office that you join, according to a report in the Times of India.

TOI citing chief provident fund commissioner V P Joy stated, "Now we have made Aadhaar obligatory for enrollment. We don't need records to be shut. The PF account is the changeless record. The worker can hold a similar record for standardized savings".

The PF official is pushing a large group of activities in the Employees' Provident Fund Organization (EPFO) to make it more specialist amicable. In any case, one of the principal challenges that the Retirement finance body confronted was the untimely conclusion of records at whatever point there was a change of employment.

"We are endeavoring to guarantee the exchange of cash on the off chance that one changes employments, with no application, in three days. In future, on the off chance that one has an Aadhaar ID and has confirmed the ID, at that point the record will be exchanged with no application if the laborer goes anyplace in the nation. This framework will be set up soon," Joy told the TOI.

EPFO has made it required for all endorsers and in addition retired people to present their Aadhaar number. This will help to connect EPF account, annuity account, financial balance and Aadhaar number which would, in the end, encourage giving a large group of online offices to endorsers like online withdrawal and obsession of benefits.



 
More Stories
When you change job. PF account will be transferred automatically

New Delhi: If you intend to change your job next month, you won't need to stress on the Provident Fund viewpoint.

From September, the Provident Fund ...

Business & Finance
8/11/2017 12:30:13 PM

Amazon owns a whole collection of secret brands

When you go to Amazon.com, what are you searching for? Items from the brands you perceive, or maybe simply the least expensive ones—expecting the ratings aren...

Business & Finance
8/8/2017 1:17:22 PM