Friday, 21 April 2017

Opening of joint Account by pensioner with the first name of pensioner Read more


GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF EXPENDITURE
CENTRAL PENSION ACCOUNTING OFFICE
TRIKOOT-11, BHIKAJI CAMA PLACE,
NEW DELHI-110066
PHONES 25174596. 26174456, 26174438
CPAO/IT & Tech/Bank Performance/37( Val-II)/2016-17/14
19.04.2017
Office Memorandum
Subject:- Opening of joint Account by pensioner with first name of pensioner.
Attention is invited to Correction Slip No.1 dated – 08.02.2006 of Scheme for Payment of Pensions to Central Government Civil Pensioners by Authorized Ranks on crediting of pension in the Joint Account of Pensioners with spouse (copy enclosed).
It has been reported that in some cases Banks are allowing the pensioners to open their pension account as Joint Account with first name of his/her spouse which may create difficulties for pensioner at the time of filing the Income Tax Returns as the income tax is assessed on the income of the pensioner and not of the spouse.
Heads of CPPCs/Government Account Divisions of all the banks are advised to instruct their bank branches to facilitate the retiring employees approaching them for opening their pension accounts before their retirement. In case of Joint. Account, the same may be opened with first name of pensioner only.
This issues with the approval of Competent Authority.
Encl:-As above


(Vijay Siingh)
Sr. Accounts Officer (IT & Tech)


In the case of death of a child shortly after birth, the woman employees may be granted Maternity Leave of two months for recovery after delivery of the child”.-DoP&T Clarification

In the case of death of a child shortly after birth, the woman employees may be granted Maternity Leave of two months for recovery after delivery of the child”.-DoP&T Clarification 
 Click here to view

7th Pay Commission: Recommendations of AK Mathur-headed panel on allowances- In Retrospect

Key highlights of recommendations of AK Mathur-headed 7th Pay Commission on allowances.


New Delhi: A high-level committee, headed by finance secretary Ashok Lavasa, which was asked to examine the 7th Pay Commission recommendation on allowances, is likely to submit its final report to Finance Minister Arun Jaitley this week.
The final recommendations on allowances will benefit over 47 lakh central government employees and 53 lakh pensioners.

The Lavasa Committee was constituted in June last year after the government implemented the recommendation of the 7th Pay Commission.

Below are the highlights of recommendations of AK Mathur-headed 7th Pay Commission on allowances 

(19 November 2015)
The Commission has recommended abolishing 52 allowances altogether. Another 36 allowances have been abolished as separate identities, but subsumed either in an existing allowance or in newly proposed allowances. Allowances relating to Risk and Hardship will be governed by the proposed Risk and Hardship Matrix.
Risk and Hardship Allowance: Allowances relating to Risk and Hardship will be governed by the newly proposed nine-cell Risk and Hardship Matrix, with one extra cell at the top, viz., RH-Max to include Siachen Allowance.
The current Siachen Allowance per month and the revised rates recommended are as follows:
   PresentProposed
1Service OfficersRs 21,000Rs 31,500
3JCO/ORsRs 14,000Rs 21,000

This would be the ceiling for risk/hardship allowances and there would be no individual RHA with an amount higher than this allowance.
House Rent Allowance (HRA): Since the Basic Pay has been revised upwards, the Commission recommends that HRA be paid at the rate of 24 percent, 16 percent and 8 percent of the new Basic Pay for Class X, Y and Z cities respectively. The Commission also recommends that the rate of HRA will be revised to 27 percent, 18 percent and 9 percent respectively when DA crosses 50 percent, and further revised to 30 percent, 20 percent and 10 percent when DA crosses 100 percent.
In the case of PBORs of Defence, CAPFs and Indian Coast Guard compensation for housing is presently limited to the authorised married establishment hence many users are being deprived. The HRA coverage has now been expanded to cover all.
Any allowance not mentioned in the report shall cease to exist.
Emphasis has been placed on simplifying the process of claiming allowances

Zee News

Action Taken Statement of Standing Committee and National Anomaly Committee after 6th CPC

Monday, 6 March 2017

FNPO& NUGDS Suggestions on GDS Pay Committee Report submitted by Sri.Kamalesh Chandra














Post Office Savings Bank Account - Anywhere Banking


For the kind attention of Public!

No worries about Tax on Withdrawals/Deposits/Minimum Balance as in other Banks.

Start using Post Office Savings Banks!

Visit your nearby/neighborhood Post Office today.
  • Safety for your money
  • Handsome returns
  • Attractive schemes
  • Easy accessibility.
  • Well-knitted Network.
  • Customer-friendly Service.
  • Well-trained staff.
  • Hard-earned reputation.
  • Well-known dedication.
  • Anywhere banking
  • Anytime banking
  • ATM card free. 
  • No hidden cost. Interoperability with other banks ATMs

Start an account today for hassle-free transactions.

Information on House Rent Allowances : Finance Ministry Office Memorandum


Information on House Rent Allowances : Finance Ministry Office Memorandum