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Posted under News on 02 May,16 1:24p.m.
This news will surely come like an icing on the cake for the central government employees.As per media reports, a secretaries group is ready with its review on 7th Pay Commission. But it will submit its report once the elections get over.The surprise element in the secretaries group review report is that it has pushed for higher pay than the recommendation made by the 7th Pay Commission.Reports sa....
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Posted under News on 29 Apr,16 7:11p.m.
Giving in to pressure from trade unions, the finance ministry has agreed to increase interest rate on provident fund deposits to 8.8 per cent from the 8.7 per cent decided by it earlier.The rollback comes after the Finance Ministry and the Labour Ministry were locked in an intense tussle over the rate of interest on EPF deposits for 2015-16 with the former pegging the rate at 8.7 per cent, 10 basi....
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Posted under News on 29 Apr,16 12:43p.m.
The finance ministry will notify the interest rate of 8.7% for employees’ provident fund (EPF) subscribers for the 2015-16 fiscal despite concerns raised by the labour ministry.As reported earlier, North Block had, notwithstanding the EPFO’s Central Board of Trustee’s (CBT) recommendation of 8.8% return for EPF subscribers, decided to offer them only 8.7%.“The finance ministry’s decision is likely....
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Posted under News on 28 Apr,16 9:01p.m.
Government is all set to implement recommendations of Seventh Pay Commission. Reportedly, the notification for the 'increment process' will be issued in the month of June.It is being believed that Centre will issue notification most likely in the third week of June after Cabinet's nod to the recommendations of pay Commission. A Finance Ministry sources was quoted by a news website as saying, "But ....
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Posted under News on 27 Apr,16 9:44a.m.
The Employees’ Provident Fund Organisation (EPFO) has strongly contested the Finance Ministry's justifications for lowering the interest rate on EPF savings for 2015-16 announced by the Labour Ministry, from 8.80 per cent to 8.70 per cent.The Finance Ministry's decision to keep the EPF rate at 8.70 per cent was communicated to the Labour Ministry on Monday, citing three major arguments. The EPFO i....
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Posted under News on 25 Apr,16 4:21p.m.
The Ministry of Finance has approved an 8.7 per cent interest on employee provident fund (EPF) for 2015-16, Labour Minister Bandaru Dattatreya informed the Lok Sabha on Monday. Earlier, the Central Board of Trustees (CBT) of EPFO had recommended a slightly higher 8.8 per cent interest rate for 2015-16. The government last year had kept the interest rate at 8.75 per cent.“The (EPFO’s apex decision....
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Posted under News on 24 Apr,16 8:35p.m.
The Central government employees will have to wait till September-October to get higher salaries under the 7th Pay Commission.As per a Financial Express report, government is expecting that higher salaries released around the festival period starting with Durga Puja and Diwali will boost consumption, which will have a multiplier effect on the economy. Though the employees will get arrears with ret....
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Posted under News on 22 Apr,16 7:07p.m.
Comrades, The flash strike against the recent PF Rules, 2016 of the Central Government (i.e., Centre’s new rule on Provident Fund withdrawal) by large section of Garment Factory Workers and other Industrial Workers of Karnataka State on 18th and 19th April 2016 received immense response and there was a massive protest which resulted in road blocks for hours together, thereby the en....
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