The Payment of Gratuity (Amendment) Act, 2010, which was passed by Parliament in its last session, has raised the hackles of various trade unions. The Act has raised the maximum limit of gratuity payable to an employee from Rs 3.5 lakh to Rs 10 lakh. Then why are the trade unions angry? It is the […]
Archives for May 2010
New Pension Scheme (NPS) latest news
NEW DELHI: The interim pension regulator has sought tax relief on investments in the New Pension Scheme (NPS) to make it more attractive to employees of private sector firms. The Pension Fund Regulatory and Development Authority (PFRDA) has written to the finance ministry seeking level playing field for NPS with other long-term savings schemes […]
Grant of Fixed Medical Allowance (FMA) to the Central Government Pensioners residing in areas not covered under CGHS
N 0.4/25/2008- P&PW (D ) GOVERNMENT OF INDIA MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES & PENSIONS (DEPARTMENT OF PENSION & PENSIONERS/ WELFARE) 3rd Floor, Lok Nayak Bhawan, Khan Market, New Delhi-110 003, Dated the 26 May 2010. OFFICE MEMORANDUM Subject: Grant of Fixed Medical Allowance (FMA) to the Central Government Pensioners residing in areas not covered […]
Indignity of a Strike
The prolonged 214-day strike by state government employees demanding the implementation of the exact clauses of the 6th Pay Commission recommendation with retrospective effect from January 2006 as in the case of Central government employees has thankfully for everybody else in the state, concluded. It is perfectly legitimate for the state government employees to want […]
Central Government Employees NPS gives 14.82% average returns
Central government employees who joined as a part of the contributory New Pension Scheme (NPS) have earned a weighted average return of 14.82 per cent during 2008-09, the first year when three fund managers managed a corpus of around Rs 2,000 crore. This has outperformed any another form of Investment like PF etc. Its a […]