General Provident Fund Interest Rate 8.7% for 2015-16

General Provident Fund Interest Rate  8.7% for 2015-16

Government Decides to Fix Interest Rates at 8.7% for General Provident Fund(GPF) and other Similar Funds Including Special Deposit Scheme, 1975(SDS,1975) for Non-Government Provident, Superannuation and Gratuity Funds for the Financial Year 2015-16

It was decided by the Government to link the interest rates of State PFs (General Provident Fund and other similar funds) including Special Deposit Scheme, 1975 (SDS, 1975) for Non-Government Provident, Superannuation and Gratuity Funds for the FY 2015-16 to Public Provident Fund (PPF) rates. In pursuance of that decision, the Government has decided to fix the rates 8.7% per annum applicable to the following:-

• The General Provident Fund (Central Services).
• The Contributory Provident Fund (India).
• The All India Service Provident Fund.
• The State Railway Provident Fund.
• The General Provident Fund (Defence Services).
• The Indian Ordnance Provident Fund.
• The Indian Ordnance Factories Workmen’s Provident Fund.
• The Indian Naval Dockyard Workmen’s Provident Fund.
• The Defence Services Officers Provident Fund.
• The Armed Forces Personnel Provident Fund.

The rate of interest is applicable to the above funds w.e.f. 1st April, 2015 and until further orders.
Recently, the Government had kept the interest rates for PPF and other Small Savings Schemes intact.

However, interest rates for 5 year Senior citizen Saving Scheme and Sukanya Samriddhi Account Scheme have been increased from 9.2 to 9.3% and 9.1 to 9.2% respectively, keeping in view the commitment of the Government towards the welfare of the girl child and the senior citizens.

Source: PIB News

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OROP Latest News : National Ex-servicemen Coordination committee meets Defense Minister 22.4.2015

OROP Latest News : National Ex-servicemen Coordination committee meets Defense Minister 22.4.2015

Office of the Defense Minister invited National Ex-servicemen Co-ordination committee (NeXCC) for having a meeting with Defense Minister Mr. Manohar Parikkar on 22nd April 2015 at 11:30 Hrs to discuss various points of Ex-Servicemen and also on OROP implementation

NeXCC delegation of 10 members under the leadership of our Chairman Mr. Taneswar Sen, including Vice Chairman Mr. John VS ( Kerala), Secretary General Mr. VN Mishra ( UP), Delhi State general secretary Mr. Vilas rai ( Delhi), Western Zonal Chairman Mr. HR Mattu ( Haryana), Orissa general secretary Mr. GC Senapathi, Thelungana General Secretary Mr. Subba Rao and others.

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Read also latest news about OROP…

One rank, one pension scheme in this session – Subramanian Swamy : BJP leader Subramanian Swamy on Monday said he had met Defence Minister Manohar Parrikar who assured him that the government would introduce the one rank, one pension scheme for all military personnel in the current session of Parliament.The scheme was one of the BJP’s major poll promises for the 2014 Lok Sabha elections.
Read more at : The Hindu

Navy launches stealth destroyer Visakhapatnam; OROP process underway, says Parrikar : One Rank One Pay process underway: Parrikar Speaking to Army Commanders in New Delhi, Defence Minister Manohar Parrikar said that much-awaited ‘One Rank One Pension (OROP)’ scheme implementation process is underway. The OROP implementation is one of the key promises made by the NDA government in the manifesto. Queries by media are often met with the stock reply that the OROP would be implemented at the ‘earliest.’
Read more at: www.oneindia.com

One-rank, One-pension on the Anvil Parrikar to Defence Men
NEW DELHI: While highlighting key issues and challenges, both external and internal that has an impact on national security calculus, Defence Minister Manohar Parrikar on Monday assured top Army Commanders that the much awaited One rank One pension scheme was on the anvil.

Read more at www.newindianexpress.com

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BSNL Employees Two Days Strike on 21-22 April 2015 – Demanding Revival of BSNL

BSNL Employees Two Days Strike on 21-22 April 2015 – Demanding Revival of BSNL

FORUM OF BSNL UNIONS / ASSOCIATIONS
D-7, Telegraph Place, Gole Market, New Delhi – 110 001.

Press Release

20th April, 2015

BSNL Employees Two Days Strike on 21-22 April 2015
Demanding Revival of BSNL

As per the call of the Forum of BSNL Unions/Associations, the BSNL Employees, both executives and nonexecutives numbering around 2.25 lakhs, will resort to Two Days Strike on 21-22 April 2015 demanding immediate action from the Government and BSNL Management for the Revival of BSNL.

Bharat Sanchar Nigam Limited was the No.1 telecom company in India and was having an annual revenue of about Rs.40,000 crore and profit of about Rs 8,000 – 10,000 crore till 2006. The non-implementation of the government assurances on financial viability, continued cancellation of the BSNL tenders of mobile equipment, confiscation of the cash balance of the company by the government on one pretext or other, discriminating BSNL in favour of private companies -all these deliberate decisions have pushed BSNL in to loss for the last five years.

The government has withdrawn from its assurance to pay ADC, refund of licence fee and liberal subsidy from the USO fund, for compensating BSNL for the loss of about Rs.10,000 crore per year for providing services to the villages and rural areas in the country which is as per the universal connectivity policy of the government. The present loss of the company around Rs. 7,000- 8,000 crore per year will be covered and there will be profit for BSNL if these assurances are honoured and implemented.

Immediate purchase of various equipments for providing mobile, broadband etc. services are most important. Sufficient funds are required for the same, which BSNL is not having at present. An amount of Rs. 6,700 crore is due to be paid to BSNL by Government towards the cost of spectrum, which the BSNL has surrendered. An amount of Rs. 1,250 crore, allotted to BSNL in lieu of ADC for providing loss making connections for 2012-13, is still pending payment. The employees are demanding that these two amounts be paid immediately so that BSNL can purchase required equipment.

The Forum of BSNL Unions/Associations has suggested various proposals for providing better service to the customers on which also no action is taken.

The Forum also demands that BSNL should start 4G services without any delay. It also has demanded that it should be made mandatory for the Central/State Governments and PSUs to take BSNL service as was done in the case of Air India.

The strike Demands submitted by the Forum are mainly intended to improve the services and to better the financial viability of the company. However, neither the Secretary, Department of Telecom nor the Communications Minister have so far called the Unions/associations for any discussion or settlement of the issues. The entire responsibility for the strike and its adverse affect on the services and difficulties to the public lies upon the Government and the Management.

The Two Days Strike on 21-22 April will start from the mid-night of 20-21 April 2015. We solicit the support of all in our effort to improve the BSNL services and revive it.

sd/-
V.A.N.Namboodiri
Convener
Mob: 09868231431

Source: www.bsnleuchq.com

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Talks with IBA continues – Next meeting on 22.4.2015 – AIBEA Circular

UFBU MEET AND SUB COMMITTEE MEETINGS WITH IBA

Discussed Points: Hospitalisation Scheme, 100% D.A.Neutralisation for retirees, 2% of loading on basic pay and DA and Converting of DA series.

“IBA should give the new pay structure immediately and pay scales so drawn should be discussed within reasonable time”

Circular No.8/VI/2015

April 17, 2015

To:
ALL UNITS / STATE COMMITTEES

Dear Comrades,
UFBU MEET AND
SUB COMMITTEE MEETINGS WITH IBA,

Preceding the IBA meeting on 16th April, 2015, UFBU met at Maharastra State Bank Employees Federation Office at Fort Mumbai on 15.04.2015 at 18.00 hrs. Our Organisation was represented by Com.Alok.Khare, Vice Chairman, Com.S.S.Shishodia, President besides the undersigned. All the constituents have participated in the meet.

1. The following issues were discussed for taking up the same with IBA.

• Improvements in the proposed Insurance backed Hospitalisation Scheme.
• Four issues concerning the Retirees- [a] 100% D.A.Neutralisation for retirees prior to 1.11.2002; [b].Family Pension; [c]. Updation of Pension; [d]. Coverage of Hospitalisation to Retirees.
• Constraints in construction of Pay scales with the condition of 2% loading
• Feasibility of converting the DA series from the base year of 1960 to 2001.

2. The IBA subcommittee on Hospitalisation Scheme was headed by Shri.Arun Tiwari, Chairman Union Bank of India, Shri.Shailesh Verma CGM, SBI, Shri.B.S.Shekhawat, GM (HRD) CBI, Shri.M.V.Tanksale, CEO IBA, Shri K.Unnikrishnan Dy.CEO IBA besides HR officials of IBA. The representatives of all the eleven unions have participated.

3. There was a detailed discussion on the Hospitalisation based on the documents provided by the IBA to all the unions. Our organisation has forwarded the various suggestions on the scheme to IBA, earlier to the commencement of the discussions, The said communication addressed to the IBA is sent herewith. At the end, there are very many loose ends to be knitted to present a comprehensive and an improved beneficial scheme to the Bankmen at large.

4. In the exclusive sub committee meeting of Officers, IBA team was headed by Shri. Ashwini Kumar Chairman Dena Bank, Smt.Indira Padmini, GM, IOB, Shri.B.S.Shekhwat, GM CBI besides the top officials and also of HR team of IBA,

5. The talks continued on issues listed in the Charter of demands of officers. The discussions are progressing but inconclusive. The Officers’ organisations have requested for one more sitting to take forward the discussions preferably next week.

6. We shall keep the units informed about the progress made to convert the MOU into 7th Joint Note.

Yours Comradely,

S.NAGARAJAN
GENERAL SECRETARY.

Source: http://www.aiboa.org/news.html

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