Seventh Pay Commission: Employees’ delight, government's despair

7th Pay Commission: Employees’ delight, government's despair New Delhi: The Seventh Pay Commission report is awaited, the new pay scales will be applicable to Central government employees with effect from January 2016. 50 lakh central government employees and 56 lakh pensioners including dependents hope to get this gift from April next year. The revised pay scales are likely to be implemented retrospectively starting 1 January 2016. Many...

Read More

NPS returns are market linked

NPS returns are market linked An investor within the scheme has an option to choose funds based on her level of safety and risk in addition to choosing her own fund manager The National Pension System (NPS) has been advertising a lot about the new tax deduction of Rs.50,000 for tax payers. I wanted to know more about the new deduction under section 80CCD(1)(b). Is this available only for people whose employers are investing in NPS on their behalf, or is this available for general public as well? How does the deduction work with respect...

Read More

Full Pension on less than 30 years & more than 20 years of Qualifying Service for Pre-2006 pensioners

FULL PENSION FOR THOSE WITH LESS THAN 30 YEARS but MORE THAN 20 YEARS QS In view of the fact that review Petition filed by UOI RP (C) NO. 2565/2015 in SLP (C) No. 6567/2015 UOI Vs M.O. Inasu dismissed by HSC on 28.8.2015, and Following file notings of DOPW (obtained under RTI) let us hope DOP&PW will now issue necessary instructions extending benefit of full min. pension to all pre 2006 pensioners irrespective of Q.S. rendered. The extract from the File Noting obtained from DOP&PW under RTI ACT, on pro rata pension matter.    ...

Read More