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Centre pitches for Rs 1K pension, free life cover for construction workers
Thu, May 17, 2018
According to the recent ministry estimates, around Rs 42,000 crore has been collected as construction workers welfare cess by states and Union Territories. Of this, around Rs 12,000 crore has been spent. The Building and Other Construction Workers Welfare Cess Act, 1996, provides for levy and collection of cess. The cess is being collected at 1 per cent of the cost of construction.
Centre cracks whip, bans selfies by government employees on pension forms
Tue, May 15, 2018
Central government employees readying for retirement have been issued a fiat by the personnel ministry that has banned them from taking selfies and pasting them on their forms as official photographs. There were more dos and don’ts for civil pensioners, check them out:
E-Pension Payment Order: Service extended to all defence pensioners
Mon, May 14, 2018
The shift to e-PPO system from manual system is expected to minimise delays in pension disbursement and further revision as and when needed, the statement said. This initiative will also eliminate the occurrence of human errors in data entry at multiple levels
Know all about 7th Pay Commission recommendations
Mon, Feb 12, 2018
The minimum pay of an entry-level government employee is increased from Rs 7,000 to Rs 18,000 per month
Union Budget: Trade unions for Rs 5 lakh tax-free income, Rs 3,000 pension
Wed, Dec 06, 2017
Central trade unions today pitched for tax exemption on income of up to Rs 5 lakh, minimum monthly wage of Rs 18,000 and Rs 3,000 minimum pension for workers in a pre-budget consultation with Finance Minister Arun Jaitley.
From opening bank account to getting a mobile number, 10 places where Aadhaar is required
Fri, Sep 08, 2017
Though the legal battle with Supreme Court has ended, the government is expanding the use of Aadhaar with each passing day.
No need for govt employees to visit bank to start pension: Govt
Sun, Aug 06, 2017
There is no need for central government employees to visit banks to start pension as their copy of the Pension Payment Order (PPO) will be handed over to them at the time of retirement, the Personnel Ministry has said.
India will have a Rs 54.75 lakh crore shortfall in pension savings in 30 years, WEF says
Sat, Jun 03, 2017
With hundreds of millions of people approaching the age of retirement in India, is the country prepared to face the onset of retirement? A report by World Economic Forum pointed out that India will fall short of $85 trillion (nearly Rs 54.75 lakh crore) in pension savings by 2050.
7th Pay Commission: Committee on Allowances submits report; here's what happens next
Tue, May 02, 2017
"The decision to set-up the Committee was taken in view of significant changes recommended by the 7th CPC in the allowances structure and a large number of representations received in this regard from various Staff Associations as well as the apprehensions conveyed by various Ministries / Departments," Ministry of Finance said in a statement on April 28, 2017.
7th Pay Commission recommendation: Your allowances hike may have wait a big longer; here's why
Fri, Mar 10, 2017
A Lavasa panel tasked tasked with examining the 7th Pay Commission’s (7th CPC) recommendations on allowances has been unable to reach a conclusion in its last scheduled meeting held on March 3 and will have few more meetings before it submits its report to FM Arun Jaitley
Amount transferred from PF to NPS not taxable: FinMin
Wed, Mar 08, 2017
The amount transferred from a recognised Provident Fund or superannuation fund to NPS would not be treated as income of the current year and, as such, would not be taxable.
Single form soon for firms to enrol with EPFO, ESIC
Sun, Mar 05, 2017
Similarly, ESIC provides mandatory health cover to formal sector workers and facility of cashless health treatment.
Ford sees lower 2017 profits, takes hit from pensions, Mexico
Thu, Jan 26, 2017
Ford Motor Co has reported a loss of $783 million in the fourth quarter of 2016.
Assured 8% return to aged: Cabinet approves Varishtha Pension Bima Yojana
Tue, Jan 24, 2017
The scheme will be open for subscription for a period of one year from the date of launch, Ministry added.
EPFO pensioners can give digital life certificate till February 28
Tue, Jan 17, 2017
Retirement fund body EPFO has extended the deadline for submitting digital life certificate by its over 50 lakh pensioners till February 28 to help them get their pension account linked with Aadhaar.
Mandatorily process all pension cases online, says Government to departments
Mon, Jan 09, 2017
In order to check delay and bring in more transparency, the Centre has asked all its departments to mandatorily process all pension-related cases through an online system. The move will result in timely sanction and grant of post-retirement benefits to employees.
Govt hikes pension for freedom fighters by 21%
Wed, Sep 21, 2016
The Government of India, on Wednesday, hiked the monthly pension for freedom fighters, including those who were imprisoned in Cellular Jail in Andaman Islands or suffered outside British India, by nearly over 21%.
PFRDA proposes auto-enrolment under pension scheme for unorganised sector workers
Sat, Sep 10, 2016
PFRDA said international experience suggests extending pension to workers on a voluntary basis is not very successful.
7th Pay Commission: Govt may pay Rs 34,600 crore as arrears in August salary
Wed, Aug 17, 2016
The government had last month announced that it will pay its employees arrears arising out of implementation of the 7th Pay Commission award at one go in August salary.
Here's how RBI will reduce liquidity impact of 7th Pay Commission arrears
Wed, Aug 17, 2016
“The government is likely to go slow on spending as it gears up to meet lumpy payments (other than regular payments). Temporal adjustments notwithstanding, the overall liquidity conditions will be cushioned as the Reserve Bank of India (RBI) will transfer its profit to the government of India,” said Ind-Ra.