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Encashment of Leave to be granted to Government Servants on their appointment in Central Public Enterprises

May 28, 2011 Leave a comment

NO. 14028/3/2011 -Estt(L) 
Government of India 
Ministry of Personnel, P.G. and Pensions 
(Department of Personnel & Training) 
****

New Delhi, the 24″ May, 2011.

Office Memorandum

Subject : Encashment of Leave to be granted to Government Servants on their appointment in Central Public Enterprises


The undersigned is directed to state that this Department has been receiving references from various Ministries / Departments seeking clarification regarding the entitlement to leave encashment on appointment of Government Servants in Central Public Enterprises.

2. As per DoPT OM No. 2801615/85-Estt.(C) dated 3 1/1/1986, appointment of an officer in a Central Public Enterprise after acceptance of his technical resignation from Government is treated as immediate
absorption. As per the terms and conditions contained in this OM, a Central Government Servant taking appointment in the Central Public Enterprises on Immediate Absorption basis was entitled to encashment of Earned Leave to his credit at the time of acceptance of his resignation from Government Service, subject to a limit of 180 days. Half Pay Leave stood forfeited. (The limit of Earned Leave which could be thus encashed was later raised to 300 days).

3. It is clarified that as per rule 39-D of the CCS (Leave) Rules, 1972, the calculation of leave encashment in case of permanent absorption in Public Sector Undertaking / Autonomous Body wholly or substantially owned or controlled by the Central / State Government will be as per  mlc 39(2)(b) which has been amended vide Notification GSR 170 dated 1/12/2009 to read as under:-

The cash equivalent of leave salary under Clause (a) shall be calculated as follows and shall be payable in one lump sum as a onetime settlement

No commutation of Half Pay Leave shall be permissible to make up the
shortfall in Earned Leave.

4. All Ministries / Departments may note for further action accordingly.

5. Hindi version will follow.

 
(Zoya C.B.) 
Under Secretary to the Government of India

Office Memorandum

Categories: LEAVE, LEAVE ENCASHMENT

Grant of Overtime Allowance to Railway employees consequent upon revision of pay scales and allowances

May 26, 2011 Leave a comment

GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS
(Raiway Board)
  
S.No.PC-VI/260                                                                                                                 RBE No.72 / 2011


No.PC-V/2008/A/O/3(OTA)                                                                                  New Delhi, dated 20/05/2011

The General Managers
All Indian Railways and Production Units
(as per mailing list)

Subject : Grant of Overtime Allowance to Railway employees consequent upon revision of pay scales and allowances – date of effect.

1. The issue of revising the date of effect of OTA w.e.f. 01.01.2006 instead of 01.9.2008 (as communciated vide para 3 of Board’s letter of even number dated 17.2.2010), as demanded vide item no.24/2010 in DC/JCM, has been considered by the Board. It has been decided to revise the date of effect of OTA as 01.01.2006. It is however clarified that the basic pay and DA element for the purpose of OTA shall be revised w.e.f.01.01.2006 and other elements constituting emolument for the purpose of OTA viz. HRA and Tarnsport Allowance etc. shall be taken into account at revised rates w.e.f.01.09.2008 as per the Sixth CPC recommendations.

2. This has the approval of Finance Directorate of Ministry of Railways.

3. Hindi version will follow.

 
sd/-
(N.P.singh)
Deputy Director. Paay Commission-V
Raiway Board.

Click here to view the Original Order

Conclusion of Special Recruitment Drive launched for filling up the backlog reserved vacancies of Persons with Disabilities

May 26, 2011 Leave a comment

No.36038/2/2008-Estt.(Res.)
Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Personnel and Training
* * * * * *
North Block, New Delhi ,
Dated : 19th May 2011.

OFFICE MEMORANDUM

Subject: Conclusion of Special Recruitment Drive launched for filling up the backlog reserved vacancies of Persons with Disabilities.

1.   The undersigned is directed to refer to this Department’s OM of even number dated 27.11.2009 whereby a Special Recruitment Drive for filling up the backlog reserved vacancies of SCs, STs and OBCs was launched. It was stipulated that all the backlog vacancies existing in the Ministries/Departments and its Attached Offices/Subordinate Offices/Public Sector Undertakings/Autonomous Bodies etc. as on 15.11.2009 shall be filled up by 15.7.2010. It could, however, not happen. The Drive was, therefore, extended upto 30th June 2011 vide OM of even no. dated 04.01.2011 and all t h e Ministries/Departments were requested to make concerted efforts to fill up the backlog reserved vacancies which had remained unfilled till then during the extended period of the Drive.

2. In view of the fact that the drive would conclude on 30.06.2011, it is requested that earnest efforts be made to fill up all the identified backlog vacancies by the said date.

3 . All Ministries/Departments are requested to submit the progress of the drive to this Department, in proformae already prescribed earlier, in respect of the Ministry/Department and all its attached/ subordinate offices and autonomous/public sector undertakings by 20.07.2011 .

4 . It may be noted that progress of the drive is to be submitted to the Cabinet immediately on completion of the drive and as such it would be important that complete and up to date information is sent to this Department by the above date so that correct progress may be reported to the Cabinet, for which Ministry/Department would be responsible.

 
sd/
(K.G.Verma)
Director


Office Memorandum


Categories: DISABLED PERSONS, DOPT

5 Blunders To Avoid With Stock Market Fall And Viable Solutions

May 24, 2011 Leave a comment

Lets Start Having A Look:
 
The present share market dip accompanied by a climate of pessimism in the share market calls for not just shrewdness in share dealing, but also for avoiding the 5 common blunders that I find most long term investors make during a share market fall. It is true that your precious savings needs to be protected and to grow, that makes me quote Ayn Rand, “Wealth is the product of man’s capacity to think”, so let us think and avoid those 5 common blunders.
 
Unveiling the 5 common blunders to avoid in stock market fall:
 
Being influenced with short term share market losses:
 
I have always advised young investors investing for long term capital gains to not panic if the value of their shares came down rapidly in just a year. It is not advisable to sell them to avoid further dips. A strong unchangable fact about the share market is that it is subject to ups and downs. The price of the shares would rise all of a sudden, and selling would only make it difficult to recoup your portfolio to meet your long term financial goals. The share market is like a voting machine in the short run and weighing machine in the long run, hence long term capital creation requires buying shares in an advantageous share market. 
 
Short selling to make profits:
 
Short selling shares at a higher price, in the hopes to replace them by buying at a lower price proved risky for many investors. They all have soon realized that it was always better to have a cotton shirt on their back rather than aspire and fail in getting a silk shirt and have no shirt at all.
 
People believe that investment experts and large stock broking houses will be able to predict the market. If we watch and follow them we will be able to make quick bucks in short selling and F&O trading. Is that so? If there are investment experts who will be able to correctly predict the market they  will not be writing or giving interviews about it in the media. They will be silently investing and making money without revealing their secret.
Most of the big names in the stock broking sector were opening more new branches in the upcountry side during the second half of 2007 (when the market was moving closer to 20,000 levels), expecting the market to go up further and hence their businesses will grow. But within six months, market had collapsed.
In the second half of the 2008 these companies decided to wind up their newer branches in the upcountry as they were expecting further downside. But again within next six months market started their recovery.
 
Never enter into shorting deals during a share market fall, but to hold on and invest more if you can make good returns in future.
 
 Buying Penny Stocks of unknown companies in place of shares of reputed companies:
Market has fallen. You can invest now. Many investors fall prey for the idea of investing in penny stocks. You may think that you will get more number of shares when you buy penny stocks. Because you will get a very few stocks for the same amount if you choose to invest in large or midcap companies.
 
 It is a universal advice that investing in thriving longstanding companies rather than, a less known company would guarantee you a good return in the long run. You should avoid investing a large sum in unknown penny stocks. It is always advisable to take calculated risks and not blind risks. By investing in a penny stock you are taking a blind risk which all successful investors avoid consciously.
 
Waiting for shares prices to fall further before buying:
 
When the market falls, that is a perfect time to start investing. Don’t wait for the markets to bottom out. It is difficult to identify the bottom and invest. By the time you recognize, that is the bottom level, the market could have bounced back.
 
Share market commentaries in the media always confuse us. When the market was at 20000 levels during Dec 2007, everyone in the media is predicting and analyzing the possibility of the market reaching 30,000 levels.  But markets crashed subsequently. When they came down to 8600 level during Nov 2008 , everyone in the media is predicting analyzing the possibility of market going down further to 3,000 levels. But markets bounced back.
 
The prudent and smart investors understood this and started investing when the markets started falling. They have staggered their investments over a period of time. They followed simple strategies like systematic investment plan and systematic transfer plan.
 
 
I wanted high returns, but cannot see my capital fluctuating:

Some young and middle aged investors invest in high return portfolios with a lot of midcap exposure, and realize that their portfolios have fallen 15 to 20% with a share market fall in just 3 to 4 months. Their panic and decision to sell their shares for reinvesting the same in fixed return investments like Bank deposits or company deposits is wrong, and I would have advised them to just wait. Their present loss and reinvesting in fixed deposits would take them longer to recoup the capital and make sizable returns. The solution lies in sticking on to the share portfolio and be intelligent to buy more shares for long term wealth creation.

 
The final word:
My final word of advice for long term investors is to never allow emotions or short term fluctuations to alter their investment decision, and to always buy in a falling share market. I am sure a rational decision accompanied by safe dealings can make your long term financial goals a reality.
 
The author is Ramalingam Kan MBA (Finance) and Certified Financial PlannerHe is the Founder and Director of Holistic Investment Planners (www.holisticinvestment.in) a firm that offers Financial Planning and Wealth Management. He can be reached atramalingam@holisticinvestment.in.
 

Govt trashes proposal to increase babus’ retirement age

May 23, 2011 Leave a comment
A government committee has rejected a proposal to increase the retirement age of government servants from 60 to 62. The decision is likely to impact over one lakh central government employees and 50,000 defence personnel on the verge of retirement. The proposal — which could have meant saving Rs4,000crore in this fiscal — was rejected as the government wants a younger bureaucracy.

The fraud complaint
The HRD ministry and sections of the academic community were temporarily preoccupied with a complaint the government received from a body claiming to represent SC/ST employees at the University Grants Commission (UGC) , alleging discrimination by Commission chairman Ved Prakash. But the complaint, it has now been discovered, was fake. The body that sent it doesn’t exist, the UGC’s SC/ST employees’ association has certified. The sender also refused to divulge his identity to the government. A case of attempted malice against the Chairman?
Academics compete with netas for that ‘one more chance’
Politicians, it appears, aren’t alone in keeping their ambitions intact with age. IIT Directors, too, love second terms — even though some believe that a proper reading of the IIT Act — that governs the Institutes — does not allow repeats. After MS Ananth (second term at IIT Madras), Sanjay Dhande (second term at IIT Kanpur) and Gautam Barua (second term at IIT Guwahati), it is the turn of IIT Delhi Director Surendra Prasad to pitch for a second term. The qualification requirements for the post state that applicants should preferably be aged below 60. Prasad — caretaker director at present — is over 60. But that has not stopped him from applying for a second term.
The case of the missing file 
After a file on the Cabinet decision of 1991 — regarding government accounts — went missing, neither the Cabinet Secretariat nor the Finance Ministry — which mooted the proposal — had any clue. Eventually, the Central Information Commission had to intervene and ask the government to locate the file and provide the requisite information to the RTI applicant.
Categories: RETIREMENT AGE

Decision of the Government on the recommendations of the Sixth Central Pay Commission relating to re-classification of cities/towns for grant of House Rent Allowance (HRA) to Railway employees.

May 22, 2011 Leave a comment



GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS
(RAILWAY BOARD)

S.NO.PC-Vl/258                                                                                      RBE No.66/2011
No.E(P&A)ll-2008/HRA.10                                         New Delhi, dated 16-5-2011.

The General Managers/CAOs,
All Indian Railways & Prod.Units etc.
(as per mailing lists No.1 & II).

Subject: Decision of the Government on the recommendations of the Sixth Central Pay Commission relating to re-classification of cities/towns for grant of House Rent Allowance (HRA) to Railway employees.

1.   Attention is invited to para 6 of Board’s letter of even number dated 12.9.2008 on the above mentioned subject, vide which the special dispensation for grant of HRA has been allowed to continue to (i) Faridabad, Ghaziabad, Noida & Gurgaon at “X” class city rates and (ii) Jalandhar Cantt. Shillong, Goa & Port Blair at “Y” class city rates and to state that the special dispensation allowed to Panchkula for grant of HRA at par with Chandigarh vide Board’s letter No. E(P&A)ll-2003/HRA-6 dated 19.8.2003, shall also continue.

2.    In this context, it is also clarified that any other similar special dispensation allowed by the Railway Board in the past in respect of other cities or grant of HRA at higher rates and not specifically mentioned in Board’s letter of even no. dated 12.9.2008. shall continue to apply, if the same has not been superseded/dispensed with or the existing classification of such city has not been revised to higher classification on account of the population criteria, vide Board’s letter of even no.dated 12.9.2008.

3.    These orders shall be effective from lst.September, 2008.

4.    All other conditions governing grant of HRA under existing orders shall continue to apply.

5.    This issues with the concurrence of the Finance Directorate of the Ministry of Raiways

sd/-
(Salim Md. Ahmed)
Deputy Director/E(P&A)lll,
Railway Board.

Rates of Night Duty Allowance w.e.f. 1-1-2011. [ Railway ]

May 21, 2011 Leave a comment

GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS
( RAILWAY BOARD)

No.E(P&A)II-2011/HW-2

RBE No.67/2011
New Delhi, dated 16/5/2011.

The General Managers/CAOs,
All Indian Railways & Prod. Units etc,
(As per mailing lists No.1 & 11).



Subject: Rates of Night Duty Allowance w.e.f. 1-1-2011.


*****

1.   Consequent to sanction of an additional instalment of Dearnes Allowance vide this Ministry’s letter No.PC-Vl/2008/1/7/2/1 dated 25.03.2011, the President is pleased to decide that the rates of Night Duty Allowance, as notified vide Annexures ‘A’ and ‘B’ of Board’s letter No.E(P&A)II-2010/HW-4 dated 27-10-2010 stand revised with effect fron 01-01-2011 as indicated at Annexure ‘A’ in respect of Continuous’. ‘Intensive’,‘Excluded categories and workshop employees, and as indicated at Annexure ‘B’ in respect of Essentially intermittent’ categories.


2. This issues with the concurrence of the Finance Directorate of the Ministry of Railways.


sd/-

(Salim Md. Ahmed)

Deputy Director/E(P&A)III,

Railway Board.

ANNEXURE – A


Rates of Night Duty Allowance (NDA) with effect from 1.1.2011 for ‘Intensive’, ‘Continuous’ and ‘Excluded’ categories and Workshop staff.



S.No.


Pay Band


Grade Pay


Rate of NDA (in Rs.)
1. 4440 – 7440 1300 50.85
2. 4440 – 7440 1400 51.55
3. 4440 – 7440 1600 52.95
4. 4440 – 7440 1650 53.30
5. 5200 – 20200 1800 101.85
6. 5200 – 20200 1900 102.55
7. 5200 – 20200 2000 103.25
8. 5200 – 20200 2400 106.05
9. 5200 – 20200 2800 108.85
10. 9300 – 34800 4200 184.35
11. 9300 – 34800 4600 and above 187.15


ANNEXURE – B

Rates of Night Duty Allowance (NDA) with effect from 1.1.2011 for ‘Essentially Intermittent’ categories of staff.



S.No.


Pay Band


Grade Pay


Rate of NDA (in Rs.)
1. 4440 – 7440 1300 33.90
2. 4440 – 7440 1400 34.35
3. 4440 – 7440 1600 35.30
4. 4440 – 7440 1650 35.55
5. 5200 – 20200 1800 67.90
6. 5200 – 20200 1900 68.35
7. 5200 – 20200 2000 68.85
8. 5200 – 20200 2400 70.70
9. 5200 – 20200 2800 72.55
10. 9300 – 34800 4200 122.90
11. 9300 – 34800 4600 and above 124.75





Source – AIRF