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03 July 2018
02 July 2018
01 July 2018
13 February 2017
Lok Sabha Question & Answer : Maternity Leave
GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
LOK SABHA
UNSTARRED QUESTION NO. 672
MATERNITY LEAVE
672.
DR. SHASHI THAROOR:
Will
the Minister of LABOUR AND EMPLOYMENT be pleased to state:
(a)
whether the Government proposes to extend the time span of the compulsory paid
maternity leave from 12 weeks to 26 weeks in private organizations;
(b)
if so, the details thereof;
(c)
whether the Government also proposes to amend section 4 of the Maternity
Benefits Act, 1961, to ensure that women employed in various public sector
undertakings receive the same benefit; and
(d)
if so, the details thereof and if not, the reasons there for?
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ANSWER
MINISTER
OF STATE (IC) FOR LABOUR AND EMPLOYMENT
(SHRI
BANDARU DATTATREYA)
(a)
& (b): Yes, Madam. The
Government has decided to enhance the paid maternity leave from existing 12
weeks to 26 weeks and an Amendment Bill in this regard was introduced in the
Rajya Sabha. The Rajya Sabha has already passed the Bill on 11.08.2016.
With regard to women workers covered under Employees’ State Insurance Act,
1948, such enhancement has already been effected by amending the ESI (Central)
Rules,1950.
(c)
& (d): There is no proposal to amend Section 4 of the Maternity Benefit
Act, 1961. The benefits under this Act are already applicable and available to
women employed in various public sector undertakings.
Central Civil Services (Leave Travel Concession) Rules, 1988 - Fulfillment of procedural requirements- Clarification reg.
To view DoPT OM No. 31011/3/2015-Estt (A.IV) dated February 9, 2017 please CLICK HERE
07 February 2017
06 February 2017
Posting of PPF/SSA Intersol deposits by PM at HO
From: Gopinath
S <gopinath.s@indiapost.gov.in>
Date:
3 February 2017 at 09:34
Subject:
POSTING OF PPF/SSA Intersol deposits by PM at HO
Sir/Madam,
I am directed by competent authority to convey the following.
Implementation
of 25,000 intersol limit
Cheques
accepted for subsequent deposits in Sub Office PPF / SSA accounts are
lodged at HO in 0017 account of HO and posting is carried out at HOs after
clearance, to facilitate posting, as per SB order 5
of 2016 intersol limit has been configured as 1.5 lakhs
on 07/01/2017 as a temporary solution. Now Patch is deployed for
implementing intersol limits from today.
POs
are instructed to follow the below procedure for posting high value PPF/SSA
deposits .
Postmaster
role users at HO are given access to CPDTM/CPWTM menus (for PPF/SSA accounts)
for posting the subsequent deposits through cheques of sub offices.
The
high value deposits for PPF/SSA will be done by Postmaster instead of PA
handling Cheque clearance.
Please
revert immediately in case of any issues.
Thanks
and Regards
Gopinath
S
Inspector
Posts
DMCC
Chennai
600 002
04 February 2017
CHQ News - LDCE : Inspector Posts for the year 2015-16 ..... updates
LDCE for promotion to the cadre of Inspector Posts (66.66%) departmental quota for the year 2015-16 was held on 22 and 23-10-2016 for 189 vacancies (OC-155, SC-26 and ST-8).
The provisional key of the question papers was already published by the Department on India Post website and representation thereon if any was called for from candidates till 6-1-2017.
It is learnt that department has almost cleared the representations received from candidates and FINAL KEY on the question papers is likely to be published very soon.
03 February 2017
How does India Post Payments Bank stack up against Airtel Payments Bank
New
Delhi: India Post Payments Bank (IPPB) launched on Monday by the Union finance
minister Arun Jaitley is the second payments bank to commence its operation in
the country after Airtel Payments Bank (APB), which was launched on January 12.
IPPB
has been set up as a 100% Indian government-owned public limited company under
the department of posts with the aim to open around 650 new branches in postal
district headquarters.
Currently,
the department of posts has an existing network of around 1,55,000 post
offices. The new branches will be co-located with the existing post offices.
On
Monday, it launched services on a pilot basis in Raipur and Ranchi.
APB,
on the other hand, is a joint venture between phone services provider Bharti
Airtel Ltd and Kotak Mahindra Bank Ltd. The payments bank went live with a
network of 250,000 banking points. In the pilot phase, the bank added over 1
million customers, according to a statement by the company.
As
mandated by the Reserve Bank of India (RBI), the new model of banking focuses
on providing basic financial services such as all kinds of payments; including
social security payments, utility bill payments, remittance services, current
and saving accounts up to a balance of Rs1 lakh, distribution of insurance,
mutual funds, pension products and acting as business correspondent to other
banks for credit products especially in rural areas and among the underserved
segments of the society.
However,
there are distinct differences in the business models of both the payments
bank. Mint compares the charges levied and interest rates offered by both the
payments banks for rendering different services, including deposits and
withdrawals.
APB
charges Rs5 to Rs25 for cash withdrawals less than Rs4,000 and 0.65% of the
withdrawal amount which is equal to or greater than Rs4,000. IPPB does not
charge anything for cash withdrawals from its branches and ATMs. However, it
charges Rs15-35 for rendering doorstep banking (cash based) for both deposits
and withdrawals up to Rs10, 000.
The
remittance charges levied by both the banks also differ. APB lists charges for
transactions made through internet banking, through the app and USSD
(Unstructured Supplementary Service Data) or *99# whereas IPPB also recognizes
transactions through NEFT (National Electronic Funds Transfer), IMPS
(Immediate Payment Service), AEPS (Aadhaar enabled payments system) and UPI
(Unified Payments Interface).
Only
transactions up to Rs10, 000 is permitted through AEPS which is free. According
to IPPB, banking charges at branch and doorstep for each NEFT based transaction
ranges from Rs2.5-5 and Rs5 is charged for every transaction via IMPS.
APB
charges 0.5% of the amount transferred within its payments bank whereas 1% of
the amount transferred is charged for transfer of funds from APB to other bank
accounts through banking points.
Customers
of IPPB can withdraw amount up to Rs10,000 from an ATM in a single transaction
and up to Rs25,000 per day. APB, on the other hand, has set Rs10 as the minimum
cash withdrawal amount, there is no clarity on the upper limit to cash
withdrawals.
APB
offers an high interest rate of 7.25% p.a. on deposits on savings accounts
which is higher than the interest rate offered by traditional banks on fixed
deposits.
IPPB’s
interest rates have been fixed as 4.5% if the quarterly average balance is up
to Rs25,000, 5% if it is between Rs25,000 and Rs50,000, and 5.5% if above
Rs50,000/-.
LDC Examination for promotion to the cadre of P.S. Group 'B' held on 18.12.2016 - Display of Provisional Keys of Question Papers
To view
Department of Posts (DE Section)Letter No. A-34013/06/2016-DE dated 02-02-2017
please Click Here.
Government to reduce time for revising income tax return to 12 months
Finance
Minister Arun Jaitley today proposed to reduce the time period for revising a
tax return to 12 months from completion of financial year.
The
Minister also proposed to reduce the time for completion of scrutiny of
assessments from 21 months to 18 months for Assessment Year 2018-19 and further
to 12 months for Assessment Year 2019-20 and thereafter.
"Time
period for revising a tax return is being reduced to 12 months from completion
of financial year, at par with the time period for filing of return,"
according to Union Budget 2017-18 presented by Finance Minister Arun Jaitley in
Parliament.
In
order to expand tax net, the Centre plans to have a simple one-page form to be
filed as Income Tax Return for the category of individuals having taxable
income up to Rs 5 lakh other than business income.
Also
a person of this category who files income tax return for the first time would
not be subjected to any scrutiny in the first year unless there is specific
information available with the Department regarding his high value
transaction.
Source:-The
Economic Times
Head post offices to render passport services
TNN | Updated:
Feb 2, 2017 : To
increase citizens' access to passport services,
particularly in remote regions, finance
minister Arun Jaitley announced that head post offices of each
district would be used to render passport services.
"Our
citizens in far flung regions of the country find it difficult to obtain
passports and redress passport related grievances. We have decided to utilise
head post offices as front offices for rendering passport services," he
said.
This decision was announced on January 25 by minister of state for external affairs VK Singh and his counterpart in the telecom ministry Manoj Sinha.
This decision was announced on January 25 by minister of state for external affairs VK Singh and his counterpart in the telecom ministry Manoj Sinha.
Secretary
(CPV) D Mulay had then said, "This is for the first time minister of
external affairs will be formally giving the powers under Passport Act to the
post office. It's a unique feature where one ministry is giving the power to
another ministry to act on its behalf, so in a sense postal officers will
actually be exercising powers under the Passport Act."
The MEA will train post office officials in passport services.
7th Pay Commission: Centre to hike allowances of Central Govt employees from April 1, says NJCA convenor
New
Delhi, February 2: A day after Budget 2017 was tabled in the Parliament by
Finance Minister Arun Jaitley, the Central Government employees were upset as
the Union Minister nowhere mentioned any increase in the hike of allowances in
the 7th Pay Commission. But the members of National Joint Action Committee
(NJCA) are an optimist about the implementation of 7CPC and believe that the
government will come up with some positive news on April 1. The NJCA also
believe that the Union Government will be implementing the 7CPC latest by April
1, after the end of financial year.
On
Wednesday, the central government employees were gripped with pessimism after
Arun Jaitley made no reference to the anomalies related to 7CPC in his Budget
speech. “All of us were eagerly waiting for Finance Minister to make some
announcement on minimum wages. But after Mr Jaitley’s speech ended without
mentioning a single word about the increase in the minimum wage, most of us
were upset,” Shiv Gopal Mishra, NJCA chief said to India.com.
He
further added, “The government may implement the 7CPC by April 1 and their
demand to increase the minimum wage will also be implemented. If the government
fails to increase minimum wages from Rs 18,000 to Rs 25,000 then we will launch
a massive protest against the government”.
The
NJCA has been actively involved with the Centre where they are seeking a
revision of minimum salary from Rs 18,000 to Rs 26,000. The NJCA members and
its conveyor had also met Home Minister Rajnath Singh, Finance Minister Arun
Jaitley, Railway Minister Suresh Prabhu, a day after the implementation of 7CPC
and had kept their demands in front of senior leaders.
Shiv
Gopal Mishra is quite optimist about the hike in allowances of government
employees but he is not sure that their demands of raising the minimum wage
would be fulfilled by the government.
On
Wednesday, most of the senior central government employees were eagerly waiting
for the Budget speech as most of them expected the Finance Minister to speak on
the 7CPC.
On
July 1, 2016, the 7th Pay Commission was approved by the Union Cabinet. The
date of implementation was fixed by the high-powered committee as for January
1, 2016. From the month of July, the central government employees were provided
with the hiked salaries, along with the arrears of six months. But the hike was
only related to the basic component of their pay. The increase in allowances
was upheld, due to the anomalies raised by employees unions.
The
implementation of 7th Pay Commission will directly benefit around 47 lakh
central government employees, along with 53 lakh pensioners. In the 7th Pay
Commission, the minimum wage has been revised from Rs 7,000 to Rs 18,000. While
the maximum salary has been capped at Rs 2.5 lakh.
Source
: http://www.india.com
New Benefits announced for NPS Subscribers in Union Budget 2017-18
In
a bid to provide further impetus to the National Pension System (NPS), the
following provisions have been introduced in the Finance Bill 2017 laid down in
the Parliament today.
Tax-exemption
to partial withdrawal from National Pension System (NPS)
The
existing provision of section 10(12A)of the Income Tax Act,
1961 provides that payment from National Pension System
(NPS) to a subscriber on closurer of his account or
opting out shall be exempt up to 40% of total corpus at the time of
withdrawal . The amount utilized for purchase of annuity is also tax exempt. At
the time of normal exit, 40% of the total corpus is mandatorily required to be
purchased for annuity. The subscriber has the option to use higher amount for
purchase of annuity.
In
order to provide further relief to the subscriber of NPS, it has been proposed
to insert a new clause (12B) in the section 10 of Income Tax Act, 1961 to
provide exemption on partial withdrawal not exceeding 25% of the contribution
made by an employee in accordance with the terms and conditions specified under
Pension Fund Regulatory and Development Authority Act, 2013 and regulations
made there under.
This
benefit will be effective on partial withdrawal made by the subscriber after
1st April 2017.
Further,
Contribution up to 20% of the Gross Income of the Self-employed individual
(Individual other than salaried class) will be deductible from the taxable
income under Section 80CCD (1) of the Income Tax Act, 1961, as against 10%
earlier.
This
is with a view to provide parity between a salaried employee and a
self-employed.
This
benefit will be available on contribution made by the self employed persons on
or after 1st April 2017.
This
increased limit for tax benefit will help the self-employed individuals, to
save taxes on higher contribution in NPS and thereby properly plan for their
old age income security.
Additional
tax deduction on investment upto Rs. 50000/- under Section 80CCD (1B) will
continue to remain the same for all NPS subscribers whether salaried or
self-employed.
Source:-PIB
02 February 2017
2 arrested for fraud in postal department recruitment
LUCKNOW:
Two members of a gang fleecing job aspirants were nabbed by sleuths of
STF on Saturday. Those arrested were identified as Ram Praveen and
Dharamraj Kumar, both of Nalanda, Bihar. The police also seized their
two mobile handsets.
SSP STF Amit Pathak said the gang leaked results of exam for selection of multi-tasking staff and postman conducted by Indian Postal services on a fake website ahead of official results. Preliminary investigations revealed the kingpin Dharamraj used to make calls and ask for money promising selection and charged Rs 30,000 from each candidate for the post of multi-tasking staff and postman.
SSP STF Amit Pathak said the gang leaked results of exam for selection of multi-tasking staff and postman conducted by Indian Postal services on a fake website ahead of official results. Preliminary investigations revealed the kingpin Dharamraj used to make calls and ask for money promising selection and charged Rs 30,000 from each candidate for the post of multi-tasking staff and postman.
They
had duped around 300 students giving them different bank account
numbers to deposit cash and had amassed Rs 90 lakh. "We are probing
their bank details and also of others associated with the gang," police
told TOI.
The
gang used to call up applicants who had scored less than qualifying
marks and assured to increase their marks against payment of cash. The
gang had leaked data of applicants and results from third party which
conducted the examinations.
They
had created a fake website of Indian Postal Department Examination
Results and duped thousands of applicants and eventually the exam had to
be cancelled. The exam was conducted by Indian Postal Services in
December 2015, at Agra, Allahabad, Bareilly and Lucknow.
To
win the confidence of aspirants, the miscreants formed a base in
Nalanda, one of the most revered seats of learning in Bihar. STF
inspector Abhinav Singh said the probe began when V K Gupta, vigilance
officer of postal department lodged an FIR in 2016 regarding the fraud.
Source:-The Times of India
Tax rate for lowest income slab slashed to 5% from 10%, surcharge of 10% slapped on incomes over Rs 50 lakh
The
finance minister has proposed to slash the tax rate for individuals in
the lowest income tax slab – Rs 2.5 lakh to Rs 5 lakh –to 5% instead of
10%. The existing rebate under Section 87A (currently given to people
with income up to Rs 5 lakh) is proposed to be reduced to Rs 2500 from
the existing Rs 5000 for individuals earning between Rs 2.5 lakh to Rs
3.5 lakh.
As a result of the combined effect of the new Section 87A rebate and the reduction in the lowest slab tax rate to 5% the tax burden for those with income upto Rs 3 lakh would be zero and tax burden those in the Rs 3 lakh to Rs 3.5 lakh bracket would be Rs 2500.
As a result of the combined effect of the new Section 87A rebate and the reduction in the lowest slab tax rate to 5% the tax burden for those with income upto Rs 3 lakh would be zero and tax burden those in the Rs 3 lakh to Rs 3.5 lakh bracket would be Rs 2500.
Those
earning Rs 4.5 lakh can therefore reduce their tax liability to zero by
fully utilising the tax break under Section 80C combined with these new
proposals.
Those
falling in the higher income tax slabs will also be eligible for this
lower tax rate of 5% on income between Rs 2.5 lakh and Rs 5 lakh.
Therefore, those in the higher tax slabs will pay lower tax by Rs 12500
per person.
Individuals
earning between Rs 50 lakh and Rs 1 crore will have to pay a surcharge
of 10% on the total income tax payable by them. Currently there was no
such surcharge on this category. Only those with income above Rs 1 crore
were required to pay surcharge of 15% which continues.
The
tax an Indian pays every year is calculated on the basis of his/her
gross total income. . The tax is calculated according to the income tax
slabs announced by the government every year in the Budget. The annual
union budget is normally announced in the month of February.
Income tax slab rates for the financial year 2016-17 (assessment year 2017-18) are given below in the table:
1. Normal
tax rates applicable to a resident individual below the age of 60
years, non-resident individual, resident/non-resident HUF, AOP, BOI,
artificial juridical person.
2. Normal
tax rates applicable to a resident individual of the age of 60 years or
above at any time during the year but below the age of 80 years
3. Normal tax rates applicable to a resident individual of the age of 80 years or above at any time during the year
After
taking the deductions under Section 80 (C) to 80 (U), the tax is
payable after adding the cess and surcharge, if applicable.
The
education cess of 2% and secondary cess of 1% are calculated on the
amount of tax payable separately. Both the cess are then added to the
tax payable to arrive at the Gross tax payable amount.
The
surcharge is levied @ 15% on the amount of income tax where net income
exceeds Rs 1 crore. In the case where the surcharge is levied, the cess
will be levied on the tax amount plus surcharge.
A
resident individual can also avail rebate under Section 87(A) whose net
income is equal to or less than Rs 5 lakh. The amount of rebate under
this section is 100% of the income tax or Rs 5,000 whichever is less. It
is deductible before calculating the cess.
Source:-The Economic Times
CS requested to Hon'ble CPMG, CG Circle for Rotational/Tenure transfer of IP/ASPs as per their willingness
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31 January 2017
India Post Payments Bank will be a game changer for financial inclusion-Manoj Sinha
IPPB branches launched in Raipur & Ranchi
Finance
Minister, Shri Arun Jaitley and Minister of Communications Shri Manoj Sinha
launched the operations of the India Post Payments Bank (IPPB) here today as
two pilot branches at Raipur and Ranchi through video conferencing from Delhi.
Speaking
on the occasion, Shri Jaitley said that about 650 IPPB branches will be opened
by September this year and that will have a multiplier impact as far as banking
in India is concerned. He said with IPPB, banking at the doorstep will no
longer remain a mere slogan, but will become a reality due to huge postal
network in the country. He said that financial Inclusion is critical for the
socio-economic development of the country, but there are significant gaps in
this area and a large proportion of country’s population remain unbanked or
underbanked. IPPB will effectively leverage the ubiquitous post office network
with its pan-India physical presence, long experience in cash handling and
savings mobilization, backed by the ongoing project of IT-enablement, to bridge
this gap in Financial Inclusion.
In
his address, Minister of Communications Shri Manoj Sinha has commended the hard
work done by the Department of Posts in setting up the India Post Payments Bank
and hoped that both organizations will work in tandem to take the benefits of
government schemes and financial services that are not easily available in
rural areas to customers across the country and to the marginalized population
in urban and rural areas alike. He said, the objective of IPPB will be public
service rather than promoting commercial interests.
Secretary,
Department of Posts, Shri B.V.Sudhakar said that the IPPB is widely expected to
be a game changer for financial inclusion in the country as the USP of this
initiative is doorstep banking, particularly in the rural areas.
As
mandated by the RBI, the India Post Payments Bank (IPPB) would focus on
providing basic financial services such as all kinds of payments; including
social security payments, utility bill payments, person to person remittances
(both domestic and cross-border), current and savings accounts up to a balance
of Rs 1 lac, distribution of insurance, mutual funds, pension products and
acting as business correspondent to other banks for credit products especially
in rural areas and among the underserved segments of the society.
Set
up us a 100% Government of India owned Public Limited Company under the
Department of Posts, it will open around 650 branches in district HQ locations.
All 1.55 lacs post offices including the 1.39 lac of the rural post offices
will be mapped to the IPPB branch at the district headquarter and function as
access points for IPPB. IPPB will usher in state of the art internet and mobile
banking platforms, digital wallets and use innovative and emerging technologies
to catalyse the shift from a cash dominant to a less cash economy.
While
many other banks and financial institutions are working on the same theme, the
USP of IPPB will be its ability to ease access and handhold the adoption of new
age banking and payments instruments among citizen of all walks of life through
the delivery by postmen and Grameen Dak sevaks, savings agents and other
franchisees who will take banking to door steps. IPPB thus aspires to the most
accessible, affordable and trusted bank for the common man with the motto - “No
customer is too small, no transaction too insignificant, and no deposit too
little”.
Given
‘in principle’ approval by the RBI along with 10 other aspirants on 19th Aug
2015, IPPB received the cabinet’s approval on 1st June, 2016 and was
incorporated as on 17th Sept, 2106. Today it became the second payments bank to
launch its operations. Having got its final banking license from the RBI on the
20th Jan 2017 it has commenced operations in record time of 10 days in
partnership with the Punjab National Bank, after obtaining all necessary
approvals and registrations from the RBI, NPCI etc.
A
commemorative stamp and a logo of the new bank were also launched on the
occasion.
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| The Minister of State for Communications (Independent Charge) and Railways, Shri Manoj Sinha addressing at the launch of the India Post Payments Bank branches, through video conferencing from National Media Centre, New Delhi on January 30, 2017. The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley and other dignitaries are also seen. |
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| The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley and the Minister of State for Communications (Independent Charge) and Railways, Shri Manoj Sinha jointly launching the India Post Payments Bank branches, through video conferencing from National Media Centre, New Delhi on January 30, 2017. |
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| The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley and the Minister of State for Communications (Independent Charge) and Railways, Shri Manoj Sinha releasing a commemorative stamp, at the launch of the India Post Payments Bank branches, through video conferencing from National Media Centre, New Delhi on January 30, 2017. |
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