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Wednesday, October 29, 2008
Monday, September 15, 2008
1000 Awesome Things About India | Part I
Hello friends,
As in my post last week. I told you about my new blog : 1000 Awesome Things About India
so,well, as a reminder, Its oleasure to share with you all that it has tarted and already has 3 posts . I am giving a summary here :
#998 | Indian TEA (a.k.a CHAI )
Welcome to India – where each of the 1 billion odd people will be addicted to tea ( popularly called chai) or as in the case of IT sectors coffee.. Read More
It is never simple. Never easy. You don’t control it. You become a mere player. The strings are pulled by a council of family members headed by the parents, the grand parents and the rest.. Read More
My parents, like most true-blood Indians, love to shower people with their hospitality and feed them till they’re almost ready to burst. We Indians are known for our need to treat our guests with the utmost care and generosity.. Read More
Give your comments/suggestions and ideas. I would be more than happy incorporate them.
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Tuesday, September 9, 2008
Government Employees: Implications of the SPC report
IT ALL started with the SPC bringing cheer to more than 50 lakh babus of the government of India. The babus are still busy, calculating their arrears and collecting information from various sources. ‘What will be my DA, what will be my pay band, what will be my basic pay, how much will I get by way of arrears, how much of the arrears will I get this year, what will be its impact on my income tax liability for the current year and the next, etc’ are amongst the plethora of questions to which they want to find an answer, given that the government is inclined to favour them with one benefit after benefit. It seems that the government has decided to keep its employees preoccupied with calculating their benefits until the next election. The benefits have puzzled the babus in the sense they do not know where to start and where to end in the context of the computation of the benefits. To put it in the computer nerd’s language, they don’t know the ‘begin_date’ and the ‘end_date’.
The way the government is heaping benefits on its employees, one gets the impression that the employees had starved for decades. Be it improving the basic pay scale or adding sparkling features to the pay band or reckoning even transport allowance for computation of Dearness Allowance or the latest carrot, viz., offering retirement benefit, the government has really pampered its employees. It is for the benefit of these babus, the following explanation is being offered, feature by feature. Are the babus ready to jot down, then?
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Full pension only after 20 years: You are entitled to full pension after completing 20 years of service. This offer is really attractive to those government employees who joined at an early age and now want to enter the private sector. Pension will act as a cushion after they give up the secure government job. The government has tried to attract young talent by incorporating this flexibility.
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Gratuity limit enhanced:Gratuity cap has been raised to Rs 10.00 lakhs from the present Rs 3.5 lakhs – a cool jump of approximately 300 percent! Of course gratuity is a function of the service put in by the employee and the last salary drawn. But it will provide adequate relief to employees retiring in the near future in the context of the scorching inflation of over 12 percent ruling for sometime now. They can invest this lump sum in any bank and generate over 10 percent by way of interest. It is a double bonanza for those on the verge of becoming senior citizens.
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Enhanced pension cap and floor limit: Government has raised the minimum pension of its employees from Rs 2,813/- to Rs 4,060/-. The upper ceiling has been raised to Rs 52,200/- from Rs 33,075/- at present. So the cap has been raised by a whopping 58 percent while the floor (minimum) has been raised by an impressive 44 percent. So employees in the higher salary bracket will benefit more when they retire.
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Live long and enjoy more:A new and unique dimension has been added to the new pension scheme. If you remain healthy post-retirement and hence live longer, your pension will increase proportionately. So once you turn 80, your pension will rise by 20 percent; similarly if you turn 85, your pension will rise by 30 percent; each additional five years there from will entitle you to a rise of over 10 percent.
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Arrears will not be taxed in the same year: Some confusion prevails with regard to computation of income tax in respect of arrears. Arrears would be released in two instalments of 40 percent and 60 percent in two financial years, viz., 2008-09 and 2009-10. Earlier it was reported that even though the arrears would be released in two instalments, the employee should reckon the arrears fully as income in financial year 2008-09. It spoiled the employees’ party since most of the first installment of arrears released would have been gobbled up by the taxman this year. But the Finance Minister has reportedly clarified that only the arrears released this year, viz., 40 percent will be taxed.
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Benefits enhanced if employees dies while on duty:Ex gratia paid to the family of an employee killed in terrorist attacks or attacks by anti-social elements has been enhanced to Rs 10.00 lakhs. The family will be paid Rs 15.00 lakhs by way of ex-gratia if the employee dies fighting a war or battling militants or working at high altitudes characterised by hostile weather.
This will encourage the youth to join the army and undertake the task of safeguarding our borders.
It appears that government is determined to overhaul its departments and attract the youth. Government jobs had lost their sheen with the advent of a liberalized economy. The whole exercise seeks to benefit everyone in every possible way – right from hiking the emoluments paid to serving young employees to hiking the terminal benefits paid to outgoing employees. The exercise is sure to add some value to government jobs until of course the private sector hikes the benefits of its employees proportionately.
More SIX PAY COMMISSION NEWS (Full Coverage)
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Tuesday, August 26, 2008
Sixth Pay Commission Report | Summary Of Information | Important Points
With so much crude information available about Sixth Pay Commission,confusion is bound to arise. Even on my site with so many posts related to Sixth CPC, One may wonder what to read and what to leave & even what to read first. With the aim of making things simpler , I am summarizing the posts related to Sixth CPC here and will also try to indicate who should read what and in what order.
I will summarize posts in chronological order ,followed by description and notes (if any.)
The format would be :
<POST NAME/LINK>
<DESCRIPTION/SUMMARY>
<WHO SHOULD READ THIS?>
<NOTES (if any)>
<DOWNLOAD LINKS (if any)>
Have patience and stay with me!!
1.> Sixth Pay Commission Report With Salary Calculator
Posted on 14-August-2008,This first post on CPC throws light on 14-August-2008 developments and updates. It contains basic information that was released by Govt. like min. Salary,holidays,allowances,payment of arrears. But its not very specific like it does nt provide discrete allowance in various categories which is covered in later posts.
Everyone should read this post as in later posts the information provided in this post is assumed to be already known to reader,only updates are highlighted and changes notified in later posts.
2.> IMPLEMENTATION OF THE RECOMMENDATIONS OF SIXTH CENTRAL PAY COMMISSION
Posted on 15-August-2008, This second posts is based on a Press Release by PIB(Press Information Bureau).It contains the most important and significant lines which are always an “Important note” to all later posts:
The Cabinet has broadly accepted the recommendations of Sixth CPC with some modifications in the wake of representations received from various sections/Associations of Central Government employees.
These largely undeclared “minor modification” are exactly the epicenter of whole confusion. Govt. has not made these modifications public . Information keeps pouring in one time or another. It makes difficult for us to say anything with surety because who know what these “minor modifications” may have or may not have in store for us.
This post contains some specifics about Promotion/Defence/Doctors’s pay Scale.
Again,Do go through this post so that you have some specific information about how Govt. plans to implement Six CPC.
3.>UP govt to implement 6th Pay Commission Report
Posted on 18-August-2008, It details Uttar Pradesh Chief Minister Hon’ Mayawati’s announcement of implementation of 6th CPC for U.P. State Govt. Employees as well.
Central Govt. employees may skip this post.
4.>Sixth Central Pay Commission : Latest Updates
Posted on 18-August-2008, This posts covers many updates such as:
- Pay panel award modification to cost additional Rs. 11,000 crore
- Full Pension at 20 years of service
- What the Cabinet didn’t accept from Pay Panel
Point 3 is the most important & interesting of all.
Everyone should read this post,If you are in a hurry you can skip 1 and 2 but do go through point 3.
5.> Unions alleges Sixth Pay Commission only favored officers ; Calls nationwide strike on August 20
Posted on 18-August-2208 ,It covers strike on 20 August.
My recommendation : SKIP THIS.
6.>Left trade union’s all-India strike cripples life
Posted on 20-August-2008.Again, Impact of Strike, The strike had been called by eight major trade unions including the All India Trade Union Congress (AITUC) and Centre for Industrial Trade Union (CITU).
SKIP THIS if you dnt want to waste time.
7.>Suspended Eemployee Entitled to Pay Commission Recommendations – Court
Posted on 20-August-2008, This post clears a big doubt regarding applicability of Pay Commission to Suspended Employees.
You can skip this post if you dont fall in the category of “Suspended Employees”
8.>New Pay and Arrears Calculators based on approved Sixth Pay Commission (14 August 2008) Report
Posted on 20-August-2008, It is one of the most important posts regarding SIX CPC and is to be read with a phrase of “MINOR MODIFICATION” (in first post.) in your mind.It also gives a list of PAY BAND as approved by Govt.
Everyone must read it .
The Calculator provided is also based on RECOMMENDATIONS which are said to be accepted by Govt (mostly!).
9.>Approved Sixth Pay Commission report getting finer
Posted on 23-August-2008, This posts gives lot of hope regarding public announcement of SIX CPC Report:
Sources said a wait for one more week may bring Sixth Pay Commission Report in Black and White as Men in charge are making the 6CPC report finer which was earlier approved by cabinet broadly a week back.
You can skip it or read it (your wish!)
10.>Do It Yourself : Calculate your New Salary
Posted on 23-August-2008,Its an important post in the sense that it provided you with formula for calculation of salary,You can troubleshoot the formula if you want. But plz pay special attention to the assumptions.
Plz read it as it will give you an overview of working of calculators. If you dont trust processors or machines, Here is the breakthrough!
11.>Grade Pay for Armed Forces Enhanced
23-August-2008,This post contains inforation on Defence Personnels like their Grade Pay and comparison of recommended,revised and difference in packages.
As the name says – Its for Defence Personnels/Armed Forces,you already know weather you need to read it or not.
12.> 6th Pay Commission Recommendation for Pensioners
23-August-2008, This is the first post with some useful information for PENSIONERS.
Must-Read for Pensioners
Download this New Pension Calculator
13.>Summary of 6th Pay Commission Recommendations: Allowances & Facilities
Posted on 23-August-2008,This post is a very specific one. It goes into minute details of all allowances. You must go through it.
Must -Read for everyone.
14.>What the CoS did about Sixth Pay Commission Report?
It highlights some modifications and comments by CoS.
If you have come so far,then go ahead and read it!
15.>Sixth Pay Commission Report | Summary Of Information | Important Points
Posted on 26-August-2008,This is the post that you are reading.Well, I am happy to inform you that you have already read this post. I hope it cleared most of your doubts.
However,I welcome any suggestion regarding site.
NOTE->
Besides these, You can always go to the
Sixth Central Pay Commission Report : Complete Information page where all information is compiled on a single page along with Download Links
DOWNLOAD ->
SALARY CALCULATOR FOR PENSIONERS
Still the best way is to subscribe my feed from the links given below and stay updated!
WORTH NOTICING :
- Go through the complete details before asking questions.
- All the calculators are made available,Use them to calculate your salary
- We all are waiting for the final Six CPC report,as soon as it is released,It will be made available here only.So keep an eye on this blog.
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