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Posted under News on 07 Mar,16 9:20p.m.
As much as Rs 70,000 crore has been provisioned in the Union Budget 2016-17 for implementation of Seventh Pay Commission for government employees, a top finance ministry official said.While the Budget did not provide an explicit overall provision number, the government had said the 7th Pay Commission hike has been built in as interim allocation for different ministries and Budget numbers were cred....
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Posted under News on 05 Mar,16 11a.m.
After dropping enough hint that Government is all set to implement the recommendations of Seventh Pay Commission soon, here is yet another good news for central government employees.According to Finance Ministry sources, Government won't be making any changes in the existing advances and facilities, enjoyed by Central government employees. Pay commission had suggested abolition of many privileges ....
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Posted under News on 05 Mar,16 10:55a.m.
Prime Minister Narendra Modi has asked Union Finance Minister Arun Jaitley to reconsider the budgetary proposal under which a part of the Employees Provident Fund withdrawal will be taxed, according to highly placed sources.Modi asked Jaitley to do away with tax imposed on EPF withdrawal after a massive row over the proposal. According to sources, Modi asked Jaitley to revisit the proposed tax on ....
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Posted under News on 03 Mar,16 4:24p.m.
With absence of an explicit overall provision for the 7th Pay Commission in budget raising questions, government on Wednesday said the once-in-a-decade pay hike has been built in as interim allocation for different ministries and budget numbers were credible.The voluminous budget documents state that “the implementation of the Seventh Pay Commission due from January 1, 2016 is to be implemented du....
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Posted under News on 02 Mar,16 10:19p.m.
Prime Minister Narendra Modi has constituted a five-member task force to rationalise central government staff and ensure their maximum optimisation.The task force will be headed by Establishment Officer and Additional Secretary in Department of Personnel and Training (DoPT) Rajiv Kumar and it will submit its report next month, officials said today.The prime minister has approved the proposal to co....
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Posted under News on 01 Mar,16 8:54p.m.
Under all-round attack, the government on Tuesday promised to consider demands for a partial rollback of the proposal to tax 60 per cent of withdrawals from provident fund and a ceiling on employers contribution but made it clear that PPF will continue to be tax exempt.Earlier in the day, Revenue Secretary Hashmukh Adhia said only 60 per cent of interest on contributions made after April 1, 2016 w....
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Posted under News on 01 Mar,16 8:54p.m.
Under all-round attack, the government on Tuesday promised to consider demands for a partial rollback of the proposal to tax 60 per cent of withdrawals from provident fund and a ceiling on employers contribution but made it clear that PPF will continue to be tax exempt.Earlier in the day, Revenue Secretary Hashmukh Adhia said only 60 per cent of interest on contributions made after April 1, 2016 w....
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Posted under News on 01 Mar,16 8:51p.m.
(i) The purpose of this reform of making the change in tax regime is to encourage more number of private sector employees to go for pension security after retirement instead of withdrawing the entire money from the Provident Fund Account.(ii) Towards this objective, the Government has announced that 40 per cent of the total corpus withdrawn at the time of retirement will be tax exempt both under r....
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