The Employee Provident Fund (EPF) contribution should no longer be restricted to 12% of basic and dearness allowance, according to a recent circular.
The Seventh Pay Commission had decided to choose the CPI-IW as the index for adjusting inflation for central government employees.
Addressing the nation on the 70th Independence Day from the Red Fort, the prime minister had announced a 20 per cent hike in the pension for freedom fighters.
The increase is in accordance with the accepted formula, which is based on the recommendations of the 6th Central Pay Commission.
'We airlifted army personnel wearing lungis to generally unused landing grounds.' 'We were told to keep quiet about what we did or saw.'
The central staff will now get 65 per cent of the basic pay as DA as against 58 per cent since July 1, 2011.
PSB branches will work fulltime on the 1st and 3rd Saturday.
Ahead of the festival season, the government on Thursday announced a 7 per cent hike in the dearness allowance of its employees which will give them some relief from near double digit inflation.
'Rahul Gandhi's recent video performances offer little hope - the first fell flat in attacking government 'strategy'; the second showed him in a position unbecoming of a leader,' argues T N Ninan.
Has the army confronted China, equipping itself with emergency purchases that have been largely paid for by pensioners, asks Ajai Shukla.
The employees, who will avail the VRS, would get an ex-gratia amount of 60 days salary (basic + dearness allowance) for each completed year of service, or salary for the number of months left in the service, whichever is less.
Since the imposition of lockdown on March 25 by the government to contain the COVID-19 spread, businesses have been facing liquidity or cash crunch, leading to difficulties in paying their mandatory provident fund dues.
The Centre is likely to announce next month a hike in dearness allowance by 10 per cent to 100 per cent, benefiting about 50 lakh employees and 30 lakh pensioners.
Older workers are headed for the VRS exit in larger-than-expected numbers even as unrest stirs over unrevised wage settlements.
When Nitin Gadkari was president of the Bharatiya Janata Party, the party had announced it would set up a separate ministry for handlooms and handicraft. Instead of doing that, the BJP government has abolished the only institution that took into account the voice of the weavers.
Under the New Code on Wages Bill 2019, employers will be required to give the minimum wages, notified by either the state or the Centre, to the unorganised sector, too.
The decision to provide higher DA to employees will cost the exchequer an additional Rs 9,303.2 crore (Rs 93.03 billion) per annum, an official spokesperson said after a meeting of the Union Cabinet, where it was decided to raise the allowance.
The Union Cabinet has cleared four per cent dearness allowance to government employees, official sources said on Monday.
According to the RTI reply, absconding diamantaire Choksi's company Gitanjali Gems tops the list of the defaulters with a whopping amount of Rs 5,492 crore. This is followed by REI Agro with Rs 4,314 crore and Winsome Diamonds with Rs 4,076 crore. Rotomac Global Private Limited has funded advances of Rs 2,850 crore which have been technically written off and Kudos Chemie Ltd with Rs 2,326 crore, Ruchi Soya Industries Limited, now owned by Ramdev's Patanjali, with Rs 2,212 crore and Zoom Developers Pvt Ltd with Rs 2,012 crore being the other companies to default on the payment. Mallya's Kingfisher Airlines figures in the list at number 9, with outstanding of Rs 1943 crore which have been technically written off by the banks.
Windfall gains are easier to dream about than manage. Here is some advice on using the money:
The Union Cabinet has approved eight per cent hike in dearness allowance (DA) for central government employees with effect from January 1.
After stiff resistance from its employees against a steep pay cut, National Aviation Company of India Ltd), which runs Air India, has come out with a fresh proposal to impose a 15-17 per cent cut on the total salary package.The total package includes basic salary, dearness allowance, house rent allowance and payments made under the productivity-linked incentive scheme . The cut, however, would not be applicable on 4000 employees.
The issue of austerity measures came up at the meeting of the Union Cabinet on Thursday with ministers seeking clarification on the economy drive launched by the government.The issue came up for an impromptu discussion when the Cabinet gave its approval to hike the Dearness Allowance for central government employees from 22 per cent to 27 per cent.
The decision, taken by the Cabinet at a meeting chaired by Prime Minister Manmohan Singh on Thursday, was based on recommendations given by the Second Pay Revision Committee. The package would include revision in Dearness Allowance and other allowances, besides performance related incentives, Minister of State in Prime Minister's Office Prithviraj Chavan told reporters.
The decision of the Cabinet to increase DA for employees and pensioners from 27 per cent to 35 per cent will cost the exchequer Rs 6,969.36 crore (Rs 69.693 billion) per annum and Rs 8,131.20 crore (Rs 81.312 billion) during 2010-2011.
The Bill states a worker will be paid twice his or her wage if he or she is allowed to work overtime. A majority of workers in India worked more than 48 hours in a week, which is higher than the International Labour Organisation's prescribed time-limit.
The Orissa government has raised the minimum wages for the domestic helps. The minimum wage of such workers has been fixed at the same level as for the unskilled workers. So a domestic help will be entitled to get a basic wage of Rs 2,340 per month.
Central government employees and pensioners will get an additional 6 per cent dearness allowance from next month, putting a burden of over Rs 6,000 crore (Rs 60 billion) on the exchequer.
The notification with regard to the Sixth Pay Commission award is ready and is currently being approved by statutory authorities. Sources said the dearness allowance effective this July is also likely to be announced the same day.
The Union Cabinet On Thursday approved a hefty 6 percentage point increase in the cost of living allowance, earlier called Dearness Allowance, from 16 to 22 per cent of basic pay. The new rates will be effective for 14 months from January 1 this year to February 2010, and the Centre will take a hit of Rs 6,020 crore
The central government babus have been given a big hike in TA/DA (travel allowance/dearness allowance) as part of implementation of the Sixth Pay Commission, but it may be only illusory as ministries and departments will get no additional funds to foot their bills.
The Union Cabinet today approved the release of an additional instalment of Dearness Allowance at 6 per cent to central government employees and dearness relief to pensioners. The allowance will be released with effect from January 1, 2008. The DA rate now stands at 47 per cent.
The increase has come into force following hike upto 100 per cent in Dearness Allowance.
DA was last revised in September last year from 100 per cent of basic pay to 107 per cent.
Union Cabinet, on Friday, may consider a three per cent hike in dearness allowance for central government employees following the rise in inflation.
From 100% tax deductions for contributions to PM-CARES fund to extending the due date for linking Aadhar and PAN card, the government has provided various tax relief and extensions in deadlines for statutory compliances, says Homi Mistry.
The company shut its factory on June 3, which ironically was also World Bicycle Day. It laid off its 431 remaining employees, but the company insists they continue to be on its rolls and will be paid "lay-off wages" upon marking attendance daily.
Indian firms across sectors, especially small- and medium ones will see their annual wage bills increase from this financial year since the government has raised the eligibility limit for statutory bonus payments to those who earn Rs 10,000 a month (basic salary and dearness allowance).
Officers of public sector oil companies have threatened to go on an indefinite strike from August 21 if their demand for higher salaries was not met.
About a million railway employees participated in the strike ballot of NFIR. In December, 800,000 employees participated in the strike ballot conducted by another leading union, the All India Railwaymen Federation, with 96 per cent voting in favour of a strike.
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