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Safety Related Retirement Scheme covering safety categories with Grade Pay of Rs.1900/

June 30, 2011 Leave a comment

GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS
RAILWAY BOARD

RBE No.99/2011


No.E(P&A)I-2010-2

New Delhi, dated 28.06.2011


The General Managers
All Indian Railways.


Sub: Safety Related Retirement Scheme covering safety categories with Grade Pay of Rs.1900/-.

*********



1. Please refer to Board,s letters of even number dated 11.O9.2010 and 24.09.2010 vide which the benefit of Safety Related Retirement Scheme (SRRS) was extended to other safety categories of staff with a grade pay of Rs.1800/- p.m. The nomenclature of the Scheme was also modified also Liberalized Active Retirement Scheme for Guaranteed Employment for Safety Staff (LARSGES5) with Grade Pay of 1800/-.


2. Considering the demand of the Employees Federations it has now been decided to expand the scope of LARSGESS by enhancing the existing criteria of grade pay of Rs.1800/- to Rs.1900/-. However, the employment under the Scheme would be guaranteed only to those found eligible/suitable and finally selected as per the laid down procedure. The list of Safety categories covered under the Scheme in Grade Pay Rs.1800/- has already been circulated vide Board’s letter dated 11.09.2011. Same categories in Grade Pay Rs.1900/- will now be eligible for the scheme.


3. For determining the eligibility for seeking retirement under the Scheme, Grade Pay. corresponding to the post against which the employee is working on regular basis, will be taken into account. In other words, the staff working on the post with Grade Pay of Rs.1900/- will continue to be eligible for seeking retirement under the Scheme even after getting financial up gradation in Pay higher han Rs.1900/- under MACPS.


4 The eligibility conditions for the safety staff with grade pay of Rs.1900/- seeking retirement under the scheme would be the same as those for Drivers viz. 33 years of qualifying service and age between 55-57 years. Recruitment of the wards of such employees being in respective category (i.e. in grade pay of Rs.1900/-) their suitability would be adjudged by an Assessment Committee of 3 SAG officers at Headquarter level as in the case of the wards of Drivers.


5. The eligibility conditions in respect of qualifying service and age group in case of Gang-men and other safety categories in grade pay of Rs.1800/- would remain 20 years and 50-57 years respectively, and the suitability of their wards would be adjudged by an Assessment Committee of 3 JA Grade officers at Divisional level.


6. It is once again reiterated that the retirement of the employee be considered only if the ward is found suitable in all respects. Retirement of the employee and appointment of the ward should take place simultaneously.


7. The other terms and conditions of the Scheme will remain unchanged.


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


9.Hindi version will follow.


10. Kindly acknowledge receipt.

sd/-
(Salim Md. Ahmed)
Deputy Director Estt.(P&A)III,
Railway Board
Source:AIRF

A Personal Finance Checklist for Newly weds

June 28, 2011 Leave a comment
Getting married is one of the most important events in your life. There is so much to consider—the flowers, the jewel, the dress, the venue, the photography—the list goes on. Once you are back from the honeymoon, the daily life of marriage begins and also begins the challenges of managing the finances of a new household with your spouse.
In recent studies, many couples ranked financial matters as one of the most essential factors when it comes to happiness in a marriage. It is one of the key factors causing marital stress.
Money Compatibility
First thing to do is to check how compatible you and your spouse in money management. You may be conservative and your spouse may be aggressive. You may think that the best place to invest is stock market and your spouse may think bank FDs.
You should communicate your money management style to your spouse as well as you need to understand the money management style of your spouse.  Both of you need to analyse the merits and demerits of money management style of each other and their own. Then you need to create a mutually agreed combined money management style.
This will be vital to you both throughout your married life to help minimise stress from disagreements about money.
Update Your Records
  • Change of Address: You could have shifted to your in law’s place or both of you could have shifted to a new place. So you need to make necessary change of address requests to your bank accounts, demat accounts, mutual fund accounts and so on.
  • Change of Name: Generally the women change their initial or the last name after their marriage. This need to be updated in all the accounts.
  • Change of Nominee/Beneficiary: You may like to change the nominee to your spouse for the investments, accounts, insurance policies which you have taken before marriage.
  • Changes in Will: You also need to create a will if you have not created one so far. If you have already a will, then you need to revisit your will now.
Assign Financial Responsibilities
You need to decide, who is going to take care of day to day money management i.e. paying bills, monitoring investments and the like.
Develop a Family Budget
You need to create a workable budget for your family that gives extra money and life. This budget should take into account both of your income, the individual expenses and family expenses.
Create an Emergency Fund
You need to accrue savings for some surprise situations like loss of job, break in job or sudden expenses like a major repair to your car or house. Generally the emergency fund need to be in the range of 3 to 6 month of family expenses.
Insurance Coverage
So far, you may not be having any dependents or less number of dependents. You could not have considered life insurance or take for a less coverage. This is the time to look at life insurance seriously. When I say life insurance, I am talking about only term insurance and not the ULIPs. Ulips have been rejected by the market for its heavy front loaded charges.
Debt Payoff Plan
Suppose, if you are already on debt, you need to create a debt payoff plan. This plan will help you in getting out of debt and staying out of debt.
Spend Smarter and Save More
Spending habits will be different from individual to individual. Both of you need to align your spending pattern and learn how to spend smarter and save more.
When both are working and not having kids yet is the stage you have more income, especially more disposable income. Couples need to be careful and avoid overspending and save as much as possible during this stage. This will ease you out when you have more expenses at the later stage of your life.
Set Combined Financial Goals
Both of you need to spend some quality time discussing about the financial goals like buying a home, international vacation and the like. This is the right time to plan your retirement.
Chalk out a Financial Plan
Once you have set the combined financial goals, then you need to chalk out a financial plan to achieve these goals. You need to take into account growth rate of your income, inflation on your expenses, time set to achieve various goals, rate of return expected from various investment options.
This is slightly a complicated procedure and this plan need to be review periodically. That is why it is better to outsource it. You may seek assistance from a professional financial planner.
To financially succeed, it needs teamwork from both the partners. As a newly married couple, you have enough time and plenty of opportunity. I am sure that with this checklist and the guidance from financial planner, you will reach your life goals together.
The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He 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 at ramalingam@holisticinvestment.in.

Clarification on Children Education Allowance

June 28, 2011 2 comments


No.21011/16/2009-Estt.(AL)
Government of India
Ministry of Personnel, P.G. & Pensions
Department of Personnel & Training
(New Delhi, Dated) 17th June, 2011
OFFICE MEMORANDUM

Subject: – Clarification on Children Education Allowance.
The undersigned is directed to refer to DOP&T O.M. No. 12011/03/2008-  Estt(Allowance) dated 02-09-2008 and clarificatory OM No.12011/16/2009-  Estt.(AL) dated 13.11.2009 on the Children Education Allowance(CEA)  Scheme, this Department has been receiving references from various
Departments seeking further clarifications. The doubts raised are clarified as  under:

1) whether Children Education Allowance would be admissible beyond two children due to failure of sterilization operation. The reimbursement of Children Education Allowance is admissible only for the first child born after failure of sterilization operation.
(ii) whether the admissible amount per annum per child (annual ceiling of Rs.15000/-) on account of CEA can be reimbursed in full in the first quarter of the financial/academic year itself. (i) It is clarified that a Government servant is allowed to get 50% of the total amount subject to the over all annual ceiling in the first quarter and the remaining amount in third and or fourth quarter . Frontloading of the entire amount in the first and second quarters is not allowed. (ii) A Government servant can claim full amount subject to the annual ceiling of Rs.15000/- in the last quarter.
(Vibha Govil Mishra)
Deputy Secretary (P &A)


Only Income from Salary and Bank Interest ? Tax return not to be filed.

June 25, 2011 Leave a comment


   The Central Board of Direct Taxes (CBDT) yesterday notified that salaried individuals having a total income up to Rs 5 lakh after allowable deductions, including salary from one employer and interest income from deposits in a savings bank account of up to Rs 10,000, need not file income tax returns.

   However, they should get from their employer Form 16 — the certificate of tax deducted at source. The returns-exempt salaried will also have to give details of their interest income from bank deposits to their employer for deduction of income tax at source.


If the new rule had not come into force, salaried persons earning more than Rs 3.15 lakh a year would have had to file returns by July 31 this year.
   Filing returns is a hassle that involves seeking the services of a tax consultant for a fee ranging between Rs 250 and Rs 500, though it can be done by individuals on their own either manually or through an online process which requires the purchase of a digital signature.

   According to CBDT officials, the revised rule, which was announced in the budget, will benefit 85 lakh income tax assessees. The notification mentions only the assessment year 2011-12 but the government is expected to extend the relief.
View the CBDT Notification

Categories: BANK, INCOME TAX

Rotational transfer of Under Secretaries of CSS.

June 24, 2011 Leave a comment



No.5/9/2010-CS.I(U)
Government of India
Ministry of Personnel, Public Grievances & Pensions
(Department of Personnel & Training)

Lok Nayak Bhavan, Khan Market,
New Delhi-110003
Dated the 22nd June, 2011


OFFICE MEMORANDUM

Subject:- Rotational transfer of Under Secretaries of CSS.


   The undersigned is directed to refer to this Department O.M.of even number dated 29.03.2011 on the subject mentioned above (available on DoPT web-site http://www.persmin.nic.in > Central Services Wing > CS Division > CSS Rotation Transfer > US) and subsequent reminder dated 25.05.2011 and to say that the requisite information has not been received yet despite a lapse of nearly three months. It is, therefore, once again requested to furnish the requisite information to this Department urgently.

 
(V. Srinivasaragavan)
Under Secretary to the Government of India

Office Memorandum
 

Categories: CSS

Continuation of ad-hoc appointment in the grade of Assistant of CSS – reg

June 24, 2011 Leave a comment



No.4/2/2006-CS-II
Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Personnel & Training

3rd Floor, Lok Nayak Bhawan,
Khan Market, New Delhi – 110 003.
Dated, the 20th June, 2011.


OFFICE MEMORANDUM

Subject: – Continuation of ad-hoc appointment in the grade of Assistant of CSS – regarding.


   The undersigned is directed to refer to this Department’s OM of even number dated 31st December, 2010 on the subject mentioned above, vide which Cadres were permitted to continue ad-hoc appointment in the grade of Assistant upto 30.06.2011. Further continuance of these appointments has been reviewed in this Department and it has been decided to extend the appointment of remaining UDCs of Select List 1993 upto 2003 in case of General and SC candidates and upto Select List 2005 in respect of ST candidates, as ad-hoc Assistant for a further period upto 31st December 2011 or till regular Assistants become available, whichever is earlier.

   2. Extension of the ad-hoc appointment would be continued only if the ad-hoc Assistants attend and qualify the mandatory ‘A’ Level training as and when nominated by CS.I (Training) Section of this Department, failing which their ad-hoc appointment would be terminated.

   3. Other terms and conditions mentioned in the relevant OMs will remain unchanged.

 
sd/-
(J. Minz)
Under Secretary to the Govt. of India

Office Memorandum

Categories: CSS

Creation of a new grade of UDC (NFSG) and Stenographer Grade ‘D’ (NFSG) in CSCS and CSSS respectively

June 24, 2011 Leave a comment

No. 20/49/2009-CS.II (B)
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel & Training

3rd Floor, Lok Nayak Bhawan, Khan Market,
New Delhi dated 22nd June, 2011

OFFICE MEMORANDUM

Subject:- Creation of a new grade of UDC (NFSG) and Stenographer Grade ‘D’ (NFSG) in CSCS and CSSS respectively.


   It has been decided to create a grade of UDC ‘Non Functional Selection Grade’ (NFSG) in Central Secretariat Clerical Services (CSCS) cadre and Stenographer Grade ‘D’ (NFSG) in Central Secretariat Stenographers’ Services (CSSS) Cadre in the grade pay of Rs. 4,200/- in Pay Band-2 with immediate effect subject to the following conditions:

   (a) UDCs of CSCS and Stenographers Grade ‘D’ of CSSS shall be eligible for placement in the Non Functional Selection Grade on completion of 5 years of approved service as UDC/Stenographer Grade ‘D’ subject to the condition that the total number in the grade will be restricted to 30% of the sanctioned strength (i.e.1104 in the grade of UDC and 385 in Steno Grade ‘D’).

   (b) The officials will be placed in the Non Functional Selection Grade as per the following procedure:

     i) Department of Personnel and Training (DOP&T) will issue a Zone of Consideration for placement of eligible officials in NFSG as per the Common Seniority List prepared and maintained by DOP&T in respect of UDCs of CSCS and Stenographers Grade ‘D’ of CSSS.

     ii) An internal Committee will be constituted by the Cadre Units to review the cases of officials for placement in the Non Functional Selection Grade and to make suitable recommendations.

   iii) The Committee shall consider the last 5 years ACRs/APARs of the officials. The Committee should satisfy itself that the overall performance of the official is “GOOD” in the last 5 years ACRs/APARs. Such officials would be considered suitable for placement in the ‘NFSG’.

     iv) There should be no adverse entries in any ACR/APAR. If there are any adverse entries, it should be clearly brought out in the minutes as to why the official has been proposed for Non Functional Selection Grade in spite of adverse entries. The minutes should also include a certificate that there is no other factor or aspect affecting the official which will disqualify him/her for grant of ‘Non – Functional Selection Grade’.

     v) SC/ST officials considered for placement in their turn to the ‘NFSG’ may be included in the Select List of ‘NFSG’ even if they do not fulfil the criteria as laid down in S.No. (iii) above, provided they are not found unfit by the Committee.

   2. This issues with the concurrence of Department of Expenditure, Ministry of Finance vide their U.O. No. 10/1/2010-IC dated 14.6.2011.

 
(Rajiv Manjhi)
Deputy Secretary to the Govt of India


Click here to view the OM

Categories: csss, STENOGRAPHERS