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Saturday, 2 December 2017

KVS: 7th CPC Fixation of pay under CCS (RP) rules 2016

KVS: 7th CPC Fixation of pay under CCS (RP) rules 2016

Kendriya Vidyalaya Sangathan
18, Institutional Area
Shaheed Jeet Singh Marg
New Delhi - 16
Phone No. 011-26523070

F.110239/51/2017/KVS(HQ)/Budget/831
Date:30.11.2017
The Deputy Commissioner/Director
Kendriya Vidyalaya Sangathan
All Regional Offices/ZIETs

Sub: Fixation of pay under CCS (RP) rules 2016: clarification regarding.

Madam/Sir,

Please refer the proviso contained in Rule 5 of CCS (RP) Rules, 2016 vide which a Government servant may elect to continue to draw pay in the existing pay structure until the date on which he earns his next or any subsequent increment in the existing pay structure or until he vacates his post or ceases to draw pay in the existing pay structure subject to other provisions of this rule.

2) In this context, the matter regarding fixation of pay under 7th CPC in respect of those employees promoted between 1st day of January, 2016 and the date of notification of CCS (RP) Rules, 2016 that is 25th July, 2016 and opted to switch over in revised pay structure from the date of next increment after availing the benefit of promotion in pre revised pay structure has been examined by Ministry of Finance, Department of Expenditure. It has since been clarified by the Ministry of Finance Deptt of Expenditure (E.III-A Branch) that the option to switch over to the revised pay structure either on 01.01.2016 or from a later date than 01.01.2016 i.e., on the date of promotion or the date of next increment, is applicable under.-Rule-5 - in case of post held on 01.01.2016. In other words, if the date of next increment on 01.07.2016 for a post held on 01.01.2016 falls after the date of promotion, then the date of next increment for the post held on 01.01.2016 has no relevance for option, as this post is no longer held on the date of next increment. In view of the above, option cannot be exercised from 01.07.2016 to switch over to the revised pay structure in such cases consequent upon the implementation of 7th CPC. Copies of letters issued by the office of CGDA, UIan Batar Road, Plam, Delhi Cantt.-110010 including the one referred to supra are enclosed for ready reference.

It is, therefore, requested that pay fixation cases in terms of 7th CPC may be regulated-accordingly.

Encl: As above
Yours faithfully
(S. Muthusivam)
Deputy Commissioner (Fin.)
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Furnishing of Specimen signature of the officers of the Zonal Railways and Production Units authorized to forward the Pension Payment Orders to the banks.

Furnishing of Specimen signature of the officers of the Zonal Railways and Production Units authorized to forward the Pension Payment Orders to the banks.

Government of India
Ministry of Railways
Railway Board
RBA No. 171/2017
No. 2016/AC-II /21/8/Pt.II
New Delhi dated: 01.12.2017
PFAS
All Zonal Railways / PUs

Sub: Furnishing of Specimen signature of the officers of the Zonal Railways and Production Units authorized to forward the Pension Payment Orders to the banks.

Please connect Board’s letter no. 2010/AC-II/21/12 dated 21.9.2010 wherein it was advised that Copies of the impression of special seal of PFAs(as indicated in Annexure II-J of the scheme for disbursement of Pensions to Railway pensioners through PSBs) together with the specimen signature of the officers of the Zonal Railways and Production Units who are authorized to forward the Pension Payment Orders to the Bank Branches concerned , duly countersigned by the Local Manager, Reserve Bank of India or State Bank of India conducting Government Business at the centre as the case may be. However, Syndicate bank has brought it to the notice of the Board that these signatures may be made available to the bank.

It is therefore requested that suitable action may be taken in this regard and ensure that the specimen signatures are available with the bank. A line of confirmation may also be sent to Board.

Sd/-
(V. Prakash)
Joint Director Accounts
Railway Board
Source: Indian Railways
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PFRDA Workshop benefits of National Pension System & Pension Funds under NPA architecture


PFRDA Workshop benefits of National Pension System & Pension Funds under NPA architecture

PFRDA conducts the Workshop with Corporates to create an awareness about the features, benefits and the process of joining National Pension System (NPS); Also to create awareness about the role of Pension Funds under NPA architecture;

More than 1.80 crore subscribers join under NPS-Private sector

Pension Fund Regulatory Development Agency (PFRDA) in its endeavor to promote NPS among the corporates have embarked upon conducting NPS Workshops at various locations across the country. In continuation of that exercise, a Corporate Meet was held today in Pune in association with FICCI, Maharashtra State Council and Mahratta Chambers of Commerce, Industry and Agriculture.


More than 100 participants from around 55 corporates attended the workshop. PFRDA officials gave a detailed presentation on NPS and informed the participants about the features, benefits and the process of joining NPS to the employees as well as to the employer. The role of the Pension Funds under NPS architecture and the benefits of long term investment and the optimal return being generated by the Pension Fund following the investment guidelines issued by PFRDA was highlighted.

PFRDA officials also clarified the queries regarding joining of NPS, tax benefits, POPs details, timelines, transfer of superannuation fund to NPS, annuity etc. to the participants.

 The recent developments under NPS - Private Sector (All citizen and Corporate) are listed below:
  • Process of Transfer of Superannuation / Recognized Provident Fund to National Pension System.
  •  Allowing option to change the investment choice or asset allocation ratio twice in a financial year
  • Dispensing of requirement of submission of physical application form in case of subscriber opening account online and e-Signing the document.
  • Introduction of Alternative Investment Fund-a separate class of Asset “A”
  • Introduction of two new life cycle funds (LC 75 and LC 25)
  • Under Tier-I account, minimum contribution requirement in a financial year is reduced from Rs 6,000/- to Rs 1,000/-

 As on 25th November 2017, more than 1.84 crores subscribers have joined under NPS- Private sector (Corporate and All Citizen model) . More than 6.58 lacs employees of 4,027 registered Corporates have joined NPS under NPS Corporate Model, and more than 5.46 lacs subscribers have joined NPS under NPS-All Citizen Model. The overall number of NPS and APY subscribers have crossed 1.80 crore with overall Asset under Management (AUM) of more than 2,15,461 crore. PFRDA's endeavour is to significantly scale-up these segments during the ongoing months.

PIB
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