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Saturday, September 24, 2016
Wednesday, September 7, 2016
Monday, August 1, 2016
7th Pay Commission increment in revised pay structure – Illustration
7th Pay Commission increment – Revised Pay Rules 2016, provides for two dates for annual increments viz., 1st January and 1st July 2016 to take care of delayed annual increments and consequent Pay anomaly
(1) There shall be two dates for grant of increment namely, 1st January and 1st July of every year, instead of existing date of 1st July:
Provided that an employee shall be entitled to only one annual increment either on 1st January or 1st July depending on the date of his appointment, promotion or grant of financial upgradation.
(2) The increment in respect of an employee appointed or promoted or granted financial upgradation including upgradation under Modified Assured Career Progression Scheme (MACPS) during the period between the 2nd day of January and 1st day of July (both inclusive) shall be granted on 1st day of January and the increment in respect of an employee appointed or promoted or granted financial upgradation including upgradation under MACPS during the period between the 2nd day of July and 1st day of January (both inclusive) shall be granted on 1st day of July.
Illustration: (a) In case of an employee appointed or promoted in the normal hierarchy or under MACPS during the period between the 2nd day of July, 2016 and the 1st day of January, 2017, the first increment shall accrue on the 1st day of July, 2017 and thereafter it shall accrue after one year on annual basis.
(b) In case of an employee appointed or promoted in the normal hierarchy or under MACPS during the period between 2nd day of January, 2016 and 1st day of July, 2016, who did not draw any increment on 1st day of July, 2016, the next increment shall accrue on 1st day of January, 2017 and thereafter it shall accrue after one year on annual basis:
Provided that in the case of employees whose pay in the revised pay structure has been fixed as on 1st day of January, the next increment in the Level in which the pay was so fixed as on 1st day of January, 2016 shall accrue on 1st day of July, 2016:
Provided further that the next increment after drawal of increment on 1st day of July, 2016 shall accrue on 1st day of July, 2017.
(3) Where two existing Grades in hierarchy are merged and the junior Government servant in the lower Grade happens to draw more pay in the corresponding Level in the revised pay structure than the pay of the senior Government servant, the pay of the senior government servant shall be stepped up to that of his junior from the same date and he shall draw next increment in accordance with this rule.
There shall be two dates for grant of increment namely, 1st January and 1st July of every year, instead of existing date of 1st July; provided that an employee shall be entitled to only one annual increment on either one of these two dates depending on the date of appointment, promotion or grant of financial up-gradation
Detailed review - Uneqal Pay Fixation of fitment factor and its outcome in 7th CPC report
7th Pay commission pay and arrears calculator - Excel Download
courtesy---nfpesalemeast
Wednesday, July 6, 2016
Thursday, June 2, 2016
CABINET APPROVES INDIA POST PAYMENTS BANK PROPOSAL
Govt will set up 650 branches of the Postal Payments Bank by September 2017, says Ravi Shankar Prasad
New Delhi: The government on Wednesday cleared a proposal to set up the India Post payments bank with a corpus of Rs.800 crore and has plans to have 650 branches operational by September 2017, telecom minister Ravi Shankar Prasad said.
“The Cabinet has cleared proposal of postal payments bank. We have 1.54 lakh post offices of which 1.39 lakh are rural post offices. 650 branches of postal payments bank will be established in the country which will be linked to rural post offices,” Prasad said.
The minister said the payments bank, which will be run by a chief executive officer, will be professionally managed and there will be a representation from various other government departments including the Department of Posts, Department of Expenditure, Department of Economic Services etc.
“Total architecture of postal payments bank is of Rs 800 crore which will have Rs 400 crore equity and Rs 400 crore grant. By September 2017, all 650 branches of postal payments bank will become operational. This we had planned for three years but now we will be doing it in a year,” Prasad said.
He said that all rural post offices will be given handheld devices by March 2017. “We are reinforcing it further. I have had discussion with my officers to give iPad and smartphones to postmen in urban post offices,” Prasad said. At present, there are 22,137 post offices with core banking facility compared to State Bank of India’s 1,666 branches.
Source: PTI
Enhancement of Financial Powers of Heads of Circles with respect to the items dealt in Estates Division
Get Ready To Bear New Service Tax W.E.F 01.06.2016
Imposing another TAX (krishi Kalyan Cess)
Service Tax = S.T (14%) + S.B (swatch bharat cess 0.5%) + KKC (0.5%) = 15 %
The proceeds of Krishi Kalyan Cess would be exclusively used for financing initiatives relating to improvement of agriculture and welfare of farmers. The Cess will come into force with effect from 1st June 2016. Budget 2016 as proposed to impose a Cess, called the Krishi Kalyan Cess, @ 0.5% on all taxable services. The new effective service tax could henceforth be 15%. While presenting the Budget 2015, the FM had increased the Service Tax Rate from 12.36% to 14%. This new rate of Service Tax @ 14% was applicable from 1st June 2015. Moreover from 15th Nov 2015, Swachh Bharat Cess @ 0.5% also got applicable. Therefore the effective rate of Service Tax is currently at 14.5% with effect from 15th Nov 2015. It seems, the rate is slowly being increased to bring service tax closer to the expected goods and services tax (GST) rate of 17-18%.
Thursday, April 21, 2016
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