7TH PAY COMMISSION REPORT: Pay Panel bonanza: Boon or bane?

7TH PAY COMMISSION REPORT: Pay Panel bonanza: Boon or bane? On November 19 when Justice AK Mathur submitted the 900-page Seventh Pay Commission report to Finance Minister Arun Jaitley there were smiles on the face of 48 lakh Central Government employees and 55 lakh pensioners. However, amid all the ecstasy and celebrations, economists are divided in their opinion over the impact of an additional Rs 1.02 lakh crore burden on India’s economy...

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Employees can withdraw EPF money without employers permission

Now, employees can withdraw EPF money without employers’ permit Employees can avail the benefit if details such as Aadhaar number and bank account number have been linked to the EPF UAN and their KYC verification has been done by the employer New Delhi: Employees will no longer need the approval of their employers to withdraw money from their Employees Provident Fund (EPF) corpus. If details such as Aadhaar unique identity number and bank account number have been linked to the EPF universal account number (UAN) and their know-your-customer...

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Minimum Government and Maximum Governance

Minimum Government and Maximum Governance A citizen friendly and accountable administration is the focus of the government. A series of steps to achieve this goal have been initiated. These include simplification of procedures, identification and repeal of obsolete/archaic laws/rules, identification and shortening of various forms, leveraging technology to bring in transparency in public interface and a robust public grievance redress system. Doing away with the practice of submitting Affidavits for small level executive jobs in the Government...

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Income Tax Department simplifies online rectification of TDS in ITR

Income Tax Department simplifies online rectification of TDS in ITR New Delhi: Aimed at making life easier for tax payers, the Income Tax department today said it simplified the process of online rectification of incorrect details of tax deducted at source (TDS) filed in the income tax return (ITR). Earlier, taxpayers were required to fill in complete details of the entire TDS schedule while applying for rectification on the e-filing portal of the I-T Department. To avoid this, the finance ministry said a new facility has been provided...

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7th Pay commission report on determination of minimum pay

7th Pay commission report on determination of minimum pay 7th CPC has fixed the Minimum Pay at Rs.18000/- as per Indian Labor Conference recommendations considering 3 units of a family of 2 + 2. The amount was arrived by the prices sourced from Labor Bureau, Shimla. 7th CPC claims that this amount is more than twice than that of a private sector employee. Minimum Wage Fixed by 7th Pay Commission at Rs.18000/- and along with allowance...

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MACP scheme for Defence Service personnel – No marked change in 7th CPC Report

MACP scheme for Defence Service personnel – No marked change in 7th CPC Report Assured Career Progression The Services have sought four financial upgradations under MACP scheme at 6, 12, 18 and 24 years of service or on completion of six years of continuous service in same Grade Pay. It has been stated that 60 percent of the soldiers (i.e., Sepoys and Naiks) are deprived of the third financial upgradation on account of an early retirement. Analysis and Recommendations : The Commission has considered the demand...

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