Wednesday, June 29, 2011
EPF / GPF / PPF
EPF- Employees Provident Fund
GPF - General Pension Fund
PPF - Public Provident Fund
GPF - General Provident Fund which is for the Government EmployeesPPF - Individuals can save to a maximum of Rs.70000/- in a year in the account. Account can be maintained in a Post Office.EPF - Employees Provident Fund for Private sector where 12% of Employees share and 12 % of Employer's share of Basic Salary + DA is deducted and remitted to PF Authorities
PF vs PPF: What's the difference ?
1. What is PPF and PF?EPF/ PF (Employees Provident Fund / Provident Fund)
The Employee Provident Fund, or provident fund as it is normally referred to, is a retirement benefit scheme that is available to salaried employees.
Under this scheme, a stipulated amount (currently 12%) is deducted from the employee's salary and contributed towards the fund. This amount is decided by the government.
The employer also contributes an equal amount to the fund.
Over 120 central government officials under CVC scanner
Over 120 central govt officials under CVC scanner
NEW DELHI: Nearly 121 central government employees, including one from CBI, are under Central Vigilance Commission (CVC) scanner for their alleged involvement in corrupt practices.
Railway ministry topped the list with 23 officials under CVC scanner, 17 are from DoT, 12 from Bureau of Indian Standards, seven from Central Board of Excise and Customs, six each from DDA and MCD among others, a CVC report said.
The anti-corruption watchdog recommended major penalty against three officials from Sashastra Seema Bal, a paramilitary force, and one each from All India Institute of Medical Sciences and the Central Bureau of Investigation.
According to the CVC monthly performance report for May, a recovery of over Rs four crore was effected after technical examination of procurement works carried out by different departments.
"The Commission is deeply concerned over continuing delays in filling the post of Chief Vigilance Officers (CVOs) in several key organisations like Hindustan Shipyard Ltd and Bharat Earth Movers Limited (BEML)," it said.
The probity watchdog act as country's top body to advise Government of India and take necessary action to check corruption. The CVC is probing various multi-crore scams including financial irregularities in the Commonwealth Games.
The Commission has received a total of 421 complaints related to alleged corruption in government departments
Conf/12/2011 dated 28th June, 2011
Kindly see our website. We have placed a copy of our letter seeking solidarity and support of our sister organizations and affiliates to the postal workers who will commence the indefinite strike action from 5th July onwards. We request all our affiliates and State Committees to organize Lunch –recess demonstration at the respective work spots on 5th July, 2011. The State Committees must ensure that a massive demonstration is organized at the CPMG offices of the State Capital eliciting participation of all CGEs on 8-7-2011 and send the following telegram/savingram to the Secretary-Post, Government of India, Dak Bhawan, New Delhi-110 001 as also to the Communication Minister. Shri Kapil Sibal, Hon'ble Minister for communications, 107, First Floor, Sanchar Bhawan, New Delhi-110 001."We express our solidarity with the striking Postal employees. Urge upon you To hold negotiations with the organizations and settle their demands."The affiliates may kindly issue necessary instructions to all their Branches to carry out the above programme. Copy of the said communication may please be endorsed to the Confederation CHQThe National Secretariat of the Confederation will meet on 30th July, 2011 at Chennai and the first meeting of the National Women's convention will also be held on the same day. Copies of notices are placed hereunder.
The Government could successfully introduce the PFRDA Bill in the last session of the Parliament with the help of the BJP and others in the opposition. The Bill might come up for discussion and enactment in the monsoon session. In the wake of the attempt in this direction by the UPA-I Government, we had taken the decision to organize a day's strike jointly with AISGEF, the School and University Teachers Federations and the AIDEF. We have been in touch with all these organization for venturing into another serious campaign against the present Bill to culminate in an industrial action. Accordingly we have decided to hold a joint convention on PFRDA Bill at New Delhi on 22nd July, 2011. The venue of the convention will be : M.P.C.U Shah Auditorium,Shree Delhi Gujarati Samaj,No.2, Raj Niwas Marg, Civil lines, Ring Road,New Delhi-110 054 (next to Civil lines Metro Station- Yellow Line)The convention will commence at 11-30 AM and shall be concluded at 3-30 PM. The convention have the participation of the representatives from AISGEF, Confederation, AIDEF,School and University teachers Federations, and DREU. Other details will be conveyed in our next circular.
Tuesday, June 28, 2011
POSTAL JOINT COUNCIL OF ACTION
NATIONAL FEDERATION OF POSTAL EMPLOYEES
FEDERATION OF NATIONAL POSTAL ORGANISATIONS
ALL INDIA POSTAL EXTRA DEPARTMENTAL EMPLOYEES UNION
NATIONAL UNION OF GRAMIN DAK SEVAKS
NEW DELHI – 110001
No. JCA/Postal/2011 Dated : 28.06.2011
Sub: Indefinite Postal Strike from 05th July-2011.
The Postal Services in India is the biggest in the world, with a tradition of serving the people of this country for the last 150 years. There are about 1,55,000 Post Offices , 392 Railway Mail Service Sorting Offices. Collection, Processing, Conveyance and delivery of Postal articles including Speed Post , Registered Post, Parcels, Periodicals, Ordinary letters etc. is the main function of the Postal Department. In addition to this the INDIA POST is running the largest Bank called Post offices Savings Bank and also Postal Life Insurance including Rural Postal Life Insurance, as the agency functions of the Finance Ministry, Govt. of India. There are about 5,50,000 employees working in the Postal Department out of which 3,00000 are Gramin Dak Sevaks mostly in the rural Post Offices.
The Postal Joint Council of Action comprising National Federation of Postal Employees (NFPE) , Federation of National Postal Organizations (FNPO), All India Postal Extra Departmental Employees Union (AIPEDEU) and National Union of Gramin Dak Sevaks(NUGDS)' representing 95% of the employees, has decided to go on Indefinite All India Strike from 5th July 2011. The Bhartiya Postal Employees Federation (BPEF) affiliated to BMS has also given separate notice for indefinite strike from 6th July, 2011. The memorandum regarding the decision for indefinite strike was given to the Secretary, Department of Posts, on 20th February 2011 it self and the formal Strike Notice was served on 14.06.2011.Three rounds of discussions with Secretary, Department of Posts, took place on 06.06.2011, 07.06.2011 and 27.06.2011, but failed due to the adamant position taken by the Postal authorities.
The Postal Board has appointed the Chicago-based multi-national Consultancy called Mckinsey for optimizing the mail network of INDIA POST. The Department has now started implementing the Mail Network Optimization Project (MNOP) recommended by the Mckinsey. As a first step speed Post hubs are introduced. As per this scheme the existing 315 National Speed Post Centres (NSPC) has been reduced to 89 speed post hubs. Speed post articles booked for delivery in the same district or nearby districts are unnecessarily
dispatched to hubs situated hundred of miles away for processing. From there articles are again back-routed to the delivery post offices. This has resulted in heavy delay in transmission and delivery of speed post articles. Articles which are delivered on the next day earlier are now delayed for 2 to 5 days. Time bound and speedy delivery could not be ensured and this has resulted in erosion of the customer faith in the Postal services which in turn has resulted downfall in the number of speed post articles booked and also in the revenue realized through speed post.
In-spite of the failure of the Speed Post hub experiment, the department is not ready to revert back to the old system. Instead the Postal Board now proposes to introduce hub system for first class mails including registered articles and also for delivery. The existing 366 mail sorting offices are to be closed and 89 first class mail hubs are to be introduced, just like speed post articles first class mails including registered articles of 5 or 6 revenue districts are to be pooled in hubs situated hundreds of miles away and from there they are processed and back-routed for delivery. Similarly the delivery of letters in urban areas at present done from town sub post offices are to be withdrawn and it will be concentrated in delivery hubs. The department also issued instruction to all Chief Postmaster Generals for closure and merger of 9797 urban post offices in the name of optimization. The introduction of first class mail hubs, delivery hubs and closure of offices will further aggravate the delay in transmission and delivery of postal articles and curtailment of postal facilities to the public. Naturally public will loose their faith in the postal services and will be compelled to depend upon courier services.
The JCA has demanded the Postal Board to roll back the speed post hubs and also to reject the proposal to introduce first class mail hubs and delivery hubs and stop closure of offices. But the Postal Board has taken an adamant stand and is unilaterally going ahead with the implementation of Mckinsey recommendations.
The JCA has also demanded the Postal Board to concede the legitimate sectional demands of the Gramin Dak Sevaks, Casual Labourers and other cadres of the Postal department such as Postal Assistants, Sorting Assistants, Postmen, Mail guard, Multi-tasking Staff, System Administrators, PO & RMS Accountants, Postal Accounts Employees, Administrative Staff, SBCO Staff, MMS and Civil Wing employees. The 25 point Charter of demands submitted to the Secretary, Department of Posts, is enclosed herewith
As employees of all the Federations and Unions irrespective of their union affiliations are participating in the strike, the entire postal services will be paralyzed from 5th July, 2011.
We earnestly solicit your support for the justified demands of the Postal employees and intervention at Government level for settlement of the demands raised in the Charter of Demands.
Secretary General, NFPE
Secretary General, FNPO
S. S. Mahadevaiah
GDS – NUPE
-- M.KrishnanSecretary General NFPE
SB Order No. 10 / 2011.
Enhancement of SB Allowance to PAs working in Savings Bank Branches.
The undersigned is directed to refer to this office letter of No. 2-2/93-SB Dt. 08.10.2004 (SB Order No. 17/2004) vide which it was conveyed that Ministry of Finance (DEA) has conveyed its approval for increase in the SB Allowance from Rs.60 to Rs.150 & from Rs.30 to Rs.75 per month wef 08.10.04.
02. After implementation of 6th CPC, increase in teh SB Allowance was taken up with MoF (DEA), which has not vide its OM No. 17/1/2001-NS-II Dt. 10.06.11 has conveyed its approval for enhancement of SB Allowance as per the following rates wef 01.09.08.
01. Staff Fully engaged in SB / SC work - present Rs.150 - new rate from 01.09.08 Rs.300.
02. Staff Partially engaged in SB / SC work - present Rs.75 - new rate from 01.09.08 Rs.150.03.
All other conditions for grant of SB Allowances will remain unchanged.
Sd/-S.Manik LakraADG (FS)
Monday, June 27, 2011
POSTAL JOINT COUNCIL OF ACTION
NATIONAL FEDERATION OF POSTAL EMPLOYEES
FEDERATION OF NATIONAL POSTAL ORGANISATIONS
ALL INDIA POSTAL EXTRA DEPARTMENTAL EMPLOYEES
NATIONAL UNION OF GRAMIN DAK SEVAKS
NEW DELHI – 110001
DISCUSSION WITH POSTAL BOARD ON 27-06-2011
DEPARTMENT ADAMANT ON IMPLEMENTING McKINSEY RECOMMENDATIONS
CENTRAL JCA DECIDES TO GO AHEAD WITH THE STRIKE
The third round of discussion held with the Postal Board today (27.06.2011) at 3 PM also failed due to the adamant position taken by the Department. Ms. Radhika Doraiswamy, Secretary, Department of Posts, Sri. P. K. Giopinath, Member (Personnel), Mrs. Manjula Parashar, Member (Operations), Sri. Kamaleshwar Prasad, Member (HR) and other Senior Officers were present. Staff side was represented by Secretary Generals, NFPE, FNPO and other General Secretaries.
Immediately on commencement of the meeting the Staff Side expressed its strong resentment and protest against the decision of the Department to go ahead with the Mckinsey recommendations regarding Mail Network Optimisation Project. The Staff side demanded that the aleady failed experiment of speed post hubs should be withdrawn immediately and the decision to implement first class mails hubs and delivery hubs and closure/merger of offices should be dropped. After heated discussion for about two hours no consensus could be arrived on this important agenda of the Charter of Demands. Hence meeting ended with disagreement.
The Central JCA met after the discussion with Postal Board and took the following decisions: -
1. The JCA unanimously decided to go ahead with the strike decision.
2. Campaign and preparations at grass root level for the strike should be further intensified.
3. The indefinite strike shall commence at 6 AM on 05.07.2011
100% strike should be ensured in all Branches/Divisions and Circles.
5. Strike shall not be withdrawn unless and until result – oriented settlement is reached on important items of Charter of Demands
Department of Posts is paying Consultancy fees to Mckinsey and Mckinsey is not paying any money to the INDIA POST. But the Mckinsey is behaving as if they have purchased the INDIA POST and are the real owner of it. They are passing orders to the employees above the head of departmental officers. Even Heads of Circles are bound to obey Mckinsey. Voice of the right-thinking employees and officers are suppressed and only those support Mckinsey are allowed to run the show.
Creation of hubs has resulted in abnormal delay in conveyance and delivery of speed post articles and everywhere back-routing is taking place. Even articles meant for local delivery are unnecessarily despatched to the hubs situated hundreds of miles away and from there again back-routed to the delivery Post offices causing avoidable delay. Speed post has lost its speed and the faith of public in this premium services has been shaken. Number of articles and revenue has come down. Still the authorities blindly go on repeating that it is a great success. It is just like "operation is successful, but the patient died". The introduction of the first class mails hubs and delivery hubs will be the "beginning of the demise of the Postal Services in India".
Sunday, June 26, 2011
And a grand function has been conducted in connection with the Retirement of Sri B.N.Prasad in the presence of Sri S.V.Siva Prasad, SSPOs, Ongole, Com.D.Ramasubbareddy (Ex-President, P-3), Sri P.Viswanadham, Post Master, Gudur and Com.Sk.Humayun, All India President & Circle Secretary (AIPEU Postmen & Gr.d).
Sri. Anam Vivekananda Reddy, MLA, Nellore also attended and addressed the function.
Sri B.Naredra Prasad being felicitated
Friday, June 24, 2011
Strike compain meeting was conducted at Rapur Po premises on 22-06-2011 at 16.00hrs about 100 postal employees attended.
Sri. Vitapu Balasubramanyam MLC
Sri. Yandapalli Srinivasulu Reddy MLC
Sri. Narasimha Reddy Dist CITU Leader
Sri. K. Sudhakar ACS P-III
Attended and explained the need of strike. Both MLC’s narrated the importance of Postal Department to the common poor people and assured that they will suuport our egitation. Wherever they will attend in public meetings, they will refer about Postal Indefinite Strike and request the public to support it. Com. Narasimha Reddy CITU explained about the disinvestments of Govt organizations and CITU will be with us up to strike ended.
Com. M.Pullaiah Suprime Councillor of GDS union well orgnised the meeting. Com. DSB Purushotham initiated the strike meeting.
After that Com. Ch Ramesh babu BPM Vepinapi, S. Penchalaih BPM Siddavaram who premoted to Postman cadre have been felicitated
1. PUBLICISE all CIRCULARS, NOTICES etc., regarding the STRIKE, WIDELY and INTENSELY. NOTICE BOARD should display all these materials every day. Also CIRCULATE to the extent possible.
2. HOLD MEETINGS of the GENERAL BODY, WORKING COMMITTEE, ACTIVISTS as often as possible for CAMPAIGNING.
3. Elect an ACTION COMMITTEE which may consist of 50% of the office bearers and working committee members and 50% activists and elders for individual campaigning and canvassing among the members to perform allied tasks on the eve of and during the strike.
4. PARTICIPATE in all MEETINGS of coordinating bodies – Joint Council of Action.
5. Exhort the members to join the rally, jhathas, Joint meetings, Gate meetings, demonstrations etc in large numbers.
6. Hold informal Lunch hour meetings in canteens, Recreation clubs, maidans and lawns every day and appraise all about day to day developments which are readily available in the web sites of NFPE and our CHQ and appeal for maximum mobilization.
7. Ensure that every one in your unit or office has been approached and talked to, to participate in the indefinite strike.
8. Action committee should evolve methods to ensure that 100% of the members are participating in the strike.
9. CAUTION and CARE SHOULD be exercised in all matters and it should be ensured that the machinery of the Action Committee is in readiness fully prepared to meet any situation that may arise.
10. Above all Maintain Unity and discipline at all levels.
THE BUGLE HAS BEEN SOUNDED.
THE CLARION CALL HAS BEEN ISSUED.
THE LEADERSHIP HAVE IMMENSE CONFIDENCE IN YOU, OUR ACTIVE WORKERS AND
THE STRENGTH OF OUR MIGHTY MOVEMENT OF POSTAL WORKERS.
WE HAVE NO DOUBT AT ALL THAT WE SHALL COME OUT OF THE BATTLE WITH FLYING COLOURS.
We write this to solicit your support and solidarity for the postal workers of the country who are preparing to go on indefinite strike action from 5th July 2011 onwards. The National Federation of Postal employees (NFPE), All India Postal Extra Departmental Employees Union (AIPEDEU), the two affiliates of the confederation has under the banner of the Joint Council of Action with the Federation of National Postal Organizations (affiliated to INTUC) and the National Union of Gramin Dak Sewak(affiliated to INTUC) have served the Strike notice on 14th June 2011 on the Postal Board. The Strike action will commence on 5th July, 2011.
1. Some time back, the Department of Post, appointed the World (in) famous Transnational Corporation, Mckinzey Consultancy to make recommendations to it as to the manner and methodology to be adopted to restructure the century old postal system of the country. While the avowed objective was to modernize the system and make it a profit making venture, the real intent was to reorganize the department in such a manner so as to equip itself viable for privatization/corporatization. Earlier the Postal Department had made several attempts to privatize its functions and in the process large scale outsourcing was also resorted to. With the prime objective of eroding the efficacy of the Postal department, various steps were undertaken like, closure of sorting units, cutting down the staff strength despite widening business ventures, pegging down the overtime rates by linking it to pre-1986 pay scales etc. Thrice the Government made attempts to introduce legislation in the parliament to grant license to courier service providers. The stubborn resistance of the M.Ps especially of the left parties and a few others in the parliament and the struggles organized by the employees at the work spot thwarted it successfully till date. However, systematically and meticulously the Department had been creating conditions whereby the customers moved away to patronize the private courier services, run illegally without any licence whatsoever. Surprisingly even Government Departments, which are to communicate with large number of people often became customers of such illegally run private courier service providers The Mckinzey consultancy who is yet to make its final report, has however, suggested certain measures in the name of Mail Network optimization project which the postal department has now decided to implement without causing any discussions whatsoever with any of the stake holders, especially the unions. Their suggestions include:
(a) Closure/merger of about 9797 post offices in the urban area
(b) Reduce the number of Speed Post Centre from 315 to 89.
(c) Reduce the RMS sorting centres from 412 to 84
(d) To redeploy the postman staff in the newly created "Delivery hubs"
2. The major chunks of the postal workers are Gramin Dak Sewaks or Extra-departmental Agents. The EDA was the system developed by the British Government to spread the postal communication system to far flung rural areas of the country. They were simply agents or franchisees and were appointed so for pittance of a remuneration. Their cause was taken up by the unions of regular employees, the NFPE and its constituents and the FNPO, in the post-independent era and through sustained struggles fetched them very many concessions, benefits and privileges and brought them nearly on par with the regular employees. When the 5th CPC was set up in 1993, the Postal department was forced to appoint a Judicial Commission (The Talwar Commission) to go into the wage-structure and other service conditions of the Extra Departmental Agents, presently called the Gramin Dak Sewaks. The committee made far reaching recommendations, a good number of which the Government had to accept and implement, (except civil servant status and pension) thereby improving the lot of these employees considerably. However, the committee set up in the wake of the 6th CPC, the Natarajamurthy committee headed by a retired Postal bureaucrat, ensured that the EDAs were reduced to casual part time workers reversing in the process, decisions taken on the basis of Talwar Commission suggestions. Most of the committee's recommendations were in sync with the neo-liberal economic policies. The rules governing their service conditions have now been unilaterally amended whereby they may not be even termed as "employees" hereafter. The very caption of the regulatory rules which was GDS-Conduct and Employment rules have now been changed to GDS- Conduct and engagement rules, reducing them to the status of a Contract Worker.
In the negotiations which took place on 6th and 7th June, 2011 the Postal authorities have stuck to their stand of implementing the decision to create Speed Post and First Class mail hubs, despite their inability to contradict the fact presented by the staff side that the creation of such hubs has resulted in abnormal delay in the delivery of articles benefiting the private operators. It has, therefore, become unambiguously clear that without organizing sustained struggles and eliciting the support of the entire section of the working people and garnering public opinion, the reversal of the decision would not come about. The undeniable fact that Government and the Postal department armed with the recommendation of the Mckency consultancy are determined to demolish the existing postal system in the country to pave way for the unhindered entry of private operators has to be defeated.
We therefore once again request you to extend your co-operation, support and solidarity to make the proposed indefinite strike successful to compel the Government to rescind their decision to act upon McKenzie recommendations in the Postal Department.
K K N Kutty.Secretary General
Ministry of Finance
Salaried Taxpayers with total Income up to Rs.5 lakh Exempted from filing Income Tax Return for Assessment Year 2011-12
The Central Board of Direct Taxes has notified the scheme exempting salaried taxpayers with total income up to Rs.5 lakh from filing income tax return for assessment year 2011-12, which will be due on July 31, 2011.
Individuals having total income up to Rs.5,00,000 for FY 2010-11, after allowable deductions, consisting of salary from a single employer and interest income from deposits in a saving bank account up to Rs.10,000 are not required to file their income tax return. Such individuals must report their Permanent Account Number (PAN) and the entire income from bank interest to their employer, pay the entire tax by way of deduction of tax at source, and obtain a certificate of tax deduction in Form No.16.
Persons receiving salary from more than one employer, having income from sources other than salary and interest income from a savings bank account, or having refund claims shall not be covered under the scheme.
The scheme shall also not be applicable in cases wherein notices are issued for filing the income tax return under section 142(1) or section 148 or section 153A or section 153C of the Income Tax Act 1961.
ANNUAL INCREASE IN PAY...1ST DAY OF JULY
Consequent upon the implementation of CCS(RP) Rules 2008, the increments in the revised pay structure are to be regulated in terms of Rule 10 of the CCS (RP) Rules 2008.This rule states that ‘there will be a uniform date of annual increment viz. 1st of July every year. Employees completing 6 months and above in the revised pay structure as on 1st July will be eligible to be granted the increment.”
Increment - EOL
Qualifying service of less than six months on account of EOL (without medical certificate) between 1st July of the previous year till 30th June of the year under consideration shall have the effect of postponing the increment to 1st July of the next year
Increment - Participation by Central Government servants in sports
sportspersons participating in sporting events (both individual and team events) of national and international importance will be treated as having achieved excellence for the purpose of grant of increment(s) if he/she achieves lst 2nd or 3rd position in the finals of sporting events if more than three individuals or teams have participated in the events. If only three or less individuals or teams have participated in the finals of a sporting event, the sportsperson/team achieving first position will be treated as having achieved excellence.
The annual increase in pay is drawn as a matter of course from the 1st of July every year, except when it is withheld as a statutory punishment
If a Government employee is on leave or is availing joining time on the 1st July, the increased pay will be drawn only from the date on which he resume duty and not from the first of July
The annual increment will be 3% of total pay in the running pay band and corresponding grade pay rounded off to next multiple of 10
While rounding off, paisa would be ignored but any amount of a rupee or more would be rounded off to next multiple of 10.
The annual increment in pay will be drawn as a matter of course from the first of July every year
If a govt. servant is on leave or is availing joining time on the first of July, the increased pay will be drawn only from the date on which he resumes the duty and not from first of July.
The officiating service in a higher grade shall count for increments in an officer and other employee’s substantive grade as well as in the higher grade in which he is officiating and, if there is an intermediate grade between the two in which he would have officiated had he not been appointed to officiate in the higher grade, also in the intermediate grade, but the period during which an officer and other employee is on leave without pay shall not count for increment unless so authorized by the Authority for reasons to be recorded in writing.
Provided that no increment shall be withheld except as a disciplinary measure under these regulations and each order withholding an increment shall state the period for which it is withheld and also whether the postponement shall have the effect of postponing future increments.
Thursday, June 23, 2011
Wednesday, June 22, 2011
BSNL Offers FREE RECON SIM (32K) to the all prospective customer who enroll into any of the 6 NEW prepaid plans- Saral anant special, Vinadi special, all@49 special, 2G special, Anbu Jodi special & Student as well as for NESAM & Para Military Force Personnel (RAKSHAK in prepaid) plan.
The above FREE SIM CARD Offer will be valid for 10 days from today i.e.21st June 2011 to 30 June 2011.
This 32K FREE SIM Card offer also applicable to MNP ‘Port IN’ customers as described above. On the specific demand of 128K SIM card (USIM) for 3G service by the customer, he/she will be charged the cost of 128K SIM card @ Rs. 59.
For More details on tariff click here BSNL’s New Prepaid Tariff Plans (Tamilnadu Circle).
The most selfish one letter word----------“I” (Avoid it)
The most satisfying two letter word------“We” (use it)
The most poisonous three letter word----“Ego” (Kill it)
The most used four letter word-----------“Love” (Value it)
The most pleasing five letter word-------“Smile” (Keep it)
The most spreading six letter word------“Rumor” (Ignore it)
The hard working seven letter word-----“Success” (Achieve it)
The most enviable eight letter word-----“Jealousy” (Distance it)
The most powerful nine letter word-----“Knowledge” (Acquire it)
The most divine ten letter word---------"Friendship” (Maintain it)
The most ......................................".............." (Keep it )
New Delhi, the 3rd June, 2011
S.O.1295(E).—In exercise of the powers conferred by clause (23AAA) of Section 10 of the Income-tax Act, 1961(43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of Government of India, Ministry of Finance, number S.O. 672(E) dated the 27th July, 1995, namely :—
in the said notification, in paragraph (1), after clause (c), the following clause shall be inserted, namely :—
(d) to meet the cost of annual medical tests or medical checkups of the member, his spouse and dependent children.
[Notification No. 33/2011/F.No. 197/12/201 0-ITA-I]
When was the last time you visited a post office branch? It's been over a decade that the e-mail replaced the written word, so there's no need to buy stamps, envelopes or inland letters. Besides, thousands of private couriers have mushroomed in the past 15-20 years, giving stiff competition to speed post & parcel. But you should because the bouquet of services offered by India Post has some very interesting and cost-effective products. ET Wealth looks at the financial services that can be availed of at a post office branch and how these compare with similar products from other organisations.
The interest your balance earns in a regular savings account with a bank is taxable. But if you open a savings account in a post office, the interest is tax-free. If you maintain an average balance of Rs 50,000 in your bank account, you would earn roughly Rs 2,000 as interest income in a year. In the highest tax bracket, the taxman will shave off 30% (or Rs 600) from this income, leaving you with only Rs 1,400. However, if it is a postal savings bank account, the interest earned is tax-free. There is, of course, a ceiling of Rs 3,500 per account on this exemption in a year. In case of joint accounts, the ceiling is higher at Rs 7,000 a year. But this is a reasonable limit because very few people would keep more than Rs 1 lakh in their savings account.
There are other benefits of opening a postal savings account. You don't have to lock up Rs 5,000-10,000 in maintaining an average quarterly balance. The post office does not mind if you have emptied out your account as long as you leave Rs 500 as balance. This low-ticket convenience works in case of recurring deposits as well. If you open a recurring deposit with a bank, the minimum monthly deposit is Rs 500. In the post office, the monthly contribution can be as low as Rs 10, making it an ideal option to start your child on the savings habit. The 7.5% interest is compounded quarterly and compares well with what banks offer. The only hitch is that the post office deposit is for a minimum of five years. However, you can withdraw 50% of the balance after one year.
Even so, the very mention of the post office conjures images of a stodgy organisation with long queues and obdurate babus filling up pass books manually. That's true to a certain extent, but things are fast changing. India Post is working on a core banking solutions project that will offer state-of-the-art facilities to customers, including ATMs, Net banking, debit cards and e-payment services. AS Prasad, deputy director-general (financial services), told ET Wealth that by the end of the year, account holders will be able to access their accounts at any ATM across the country ( India Post's AS Prasad on how it to transform into a dominant financial services player ).
Life insurance is the lynchpin of a financial plan. The post office offers life insurance, but it is open only to employees of the Central and state governments, public sector undertakings and semi-government organisations. In October 2010, the Insurance Regulatory and Development Authority allowed the post office to sell insurance policies of private companies. It was a tremendous opportunity for both the insurance industry as well as India Post. The industry suddenly had access to India's largest distribution network of 1.55 lakh offices while India Post could stand to earn good commission from selling insurance policies. However, the proposal has not taken off because the India Post does not want to push policies of other companies and instead wants to focus on its own Postal Life Insurance. The Rural Postal Life Insurance can be bought by any citizen of India provided he is residing in a rural area, which is any location outside the limits of a municipality. India Post has sold 1 crore RPLI policies since they were launched in 1995. But almost 40% of these are micro insurance policies where the life cover is less than Rs 25,000. That's just enough to take care of a middle-class urban family for about a month.
The India Post is also a distributor of the New Pension Scheme. You can open an NPS account at designated post office branches. In fact, with very few agents interested in selling the low-cost scheme because of the niggardly commission it offers, the post office has become the biggest seller of the NPS. It has opened almost 20,000 voluntary accounts till now, which is almost a third of the total voluntary Tier I NPS. The scheme is available at nearly 800 post office branches across the country. Incidentally, the India Post has stopped selling mutual funds after the entry load was removed in August 2009. Says Prasad: "If Sebi brings the upfront selling commission of 2.25% back, we would sign a memorandum of understanding to sell mutual funds again."
Want to invest in gold? The yellow metal is set to soar higher as uncertainty returns to the capital markets and inflation goes through the roof. You can buy 24-carat gold coins at the post office. The coins are available in three sizes: 500 mg, 1.5 g and 8 g. Don't worry about the purity issues. These coins have been imported from Switzerland and have the backing of the World Gold Council. There is no price advantage if you buy from the post office or from a bank or jeweller.At the post office, you can transfer money in the most cost-effective manner. It is an agent for a range of money transfer services, including wire transfers and international money orders. It issues travellers' cheques and offers 22 foreign currencies to those travelling abroad. It also offers prepaid forex cards in seven currencies, demand drafts in 11 currencies and wire transfer in 13 currencies. What's more, you can apply for your passport through the post office.
Monday, June 20, 2011
DEPARTMENT OF POSTS :: INDIA
Office of the Chief Postmaster General, A.P Circle, Hyderabad – 500 001
The Post Master General,
A.P Eastern Region, Vijayawada / A.P Northern Region, Hyderabad / A.P North Eastern Region, Visakhapatham / A.P Southern Region, Kurnool.
2. The Sr. Supdt. of Post Offices, Hyd. City Dn / South East / Secunderabad dn.
3. The SSRM, Hyd. Stg. Dn., Hyd – 27.
4. The Chief Post Master, Hyd. GPO, Hyd -1,
5. The Manager, MMS, Hyd – 95
6. DA(P), Hyderabad
7. The SP, PSD/ CSD, Hyderabad.
No.ST/GDS/Union/07 Dated at Hyd-1, the 15-06-2011.
Sub:- Early Sanction of discharge benefits to the GDS.
Ref. :- This office letter of even No. dated 09-12-2010.
One of the Service Unions has brought to the notice of this office that there is inordinate delay in payment of benefits due to certain Grameen Dak Sewaks who were discharged from the service on completion of 65 years of age. The delay is said to be due to non-collection of requisite forms from such of the GDSs, well in advance to their date of discharge.
Therefore, I am directed to request you to instruct the Divisions under your control to initiate action to collect the forms, documents required for processing the proposals for payment of Gratuity etc., before due date of discharge and ensure prompt submission to the sanctioning authority to ensure timely payment.
I am further directed to request all the Heads of the Divisions / Units in Hyderabad City Region to take similar action on the lines suggested in para (2) above to eliminate delays in payment of benefits.
Asst. Director (per. Admn. & Sr)
For Chief Postmaster General
A.P Circle, Hyderabad-500 001
. 19-06-2011 డి న - ఎన్.ఎఫ్.పి.యి., మరియు ఎఫ్.ఎన్.పి.ఓ సంఘాల సర్కిల్ కార్య దర్శులు, కార్యవర్గ సభ్యులు, ప్రధాన కార్య దర్శులు, వున్నత కార్య దర్శులు తో 5-7-11 నుండి జరుగనున్న నిరవధిక సమ్మె పై జాతీయ సదస్సు నిర్వహించ బడినది. దేశవ్యాప్తంగా 22 సర్కిల్స్ నుండి సుమారు 300 పైగా ప్రతినిధులు, 18 మంది ప్రధాన కార్య దర్శులు హాజరైనారు.
కా.డి.కే.రహతే (ఎన్.ఎఫ్.పి.యి - అధ్యక్షులు), కా.టి.ఎన్.రహతే (ఎఫ్.ఎన్.పి.ఓ - అధ్యక్షులు), కా.డి.ఎన్.గిరి (ఎ.ఐ.పి.యి.డి.యి.యు - అధ్యక్షులు) కా.జి.సత్యనారాయణరెడ్డి (ఎన్.యు.జి.డి.ఎస్. - అధ్యక్షులు) అధ్యక్షతన సమావేశము నిర్వహించ బడినది. కా.డి.కే.రహతే అధ్యక్షోపన్యాసము చేయగా, కా.డి.త్యాగరాజన్ (ఎఫ్.ఎన్.పి.ఓ - సెక్రటరీ జనరల్ ) ప్రారంభోపన్యాసము చేసారు. తదుపరి కా.ఎం.కృష్ణన్ (ఎన్.ఎఫ్.పి.యి - సెక్రటరీ జనరల్ ) ప్రసంగించారు. ప్రస్తుత డిపార్టుమెంటు పరిస్థితి, సమ్మె ఆవశ్యకత, పాలసీల ప్రభావము, వుద్యోగుల కర్తవ్యము, యిటీవల జరిగిన చర్చల సారాంశము , భవిష్యత్ కార్యా చరణ, సమ్మె కోన సాగించవలసిన తీరు మొదలగు అనేక విషయాలపై విపులంగా విశదీకరించడం జరిగినది. జి.డి.ఎస్ సంఘాల ప్రతినిధులుగా కా.ఎస్.ఎస్.మహాదేవయ్య (ప్రధాన కార్య దర్శి), కా.గౌతం (ఎన్.యు.జి.డి.ఎస్ - సహాయ ప్రధాన కార్యదర్శి) జి.డి.ఎస్ సమస్యల పరిష్కారము కొరకు సమ్మె ఆవశ్యకతను వివరించారు. కా.కే.రాఘవెంద్రన్ (పూర్వ సెక్రటరీ జనరల్ - ఎన్.ఎఫ్.పి.యి ), వర్కింగ్ ప్రెసిడెంట్ - కాన్ఫెడరేషన్ కూడా హాజరై ప్రసంగించారు. సమ్మె తోలి రోజున కేంద్ర ప్రభుత్వ ఉద్యోగులందరూ పోస్టల్ సమ్మె కు మద్దతుగా ప్రదర్శనలు నిర్వహించుట, 4 వ రోజున అన్ని చీఫ్ పి.ఎం.జి కార్యాలయాల ఎదుట కేంద్ర పభుత్వ వుద్యోగులచే ఒక రోజు ధర్నా నిర్వహించుట - కాన్ఫెడరేషన్ తరపున నిర్ణయం తీసుకున్నట్లు తెలిపారు. సుమారు 40 మందికి పైగా ప్రతినిధులు సమ్మె పై వివరంగా తమ అభిప్రాయాన్ని, సానుకూలతను వ్యక్తపరిచారు. రెండవ అభిప్రాయము లేకుండా నిరవధిక సమ్మె కు సంసిద్దత వ్యక్తం చేశారు. భారతీయ ఫెడరేషన్ కూడా 6-7-11 తేది నుండి సమ్మె చేయనున్నట్లు నోటీసు జారి చేసినట్లు తెలియజేయబడినది. అన్ని రకాల ప్రయత్నాలతో సమ్మె ఆవశ్యకతను , డిమాండ్ల ప్రాధాన్యతను దేశ ప్రజలందరికి తెలియజేసే విధముగా కార్యక్రమాలు నిర్వహించ వలసినదిగా కా.కృష్ణన్ తెలిపారు. జాతీయ సదస్సు లో వెలువడిన అందరి అబిప్రాయాలకు అనుగుణంగా "డిక్ల రేషన్" ప్రతిపాదించబడి ఏక గ్రీవంగా ఆమోదించ బడినది. ....ఆంధ్ర ప్రదేశ్ సర్కిల్ నుండి ఎన్.ఎఫ్.పి.యి., ఎఫ్.ఎన్.పి.ఓ ప్రతినిధులుగా 20 మంది హాజరైనారు. 8 మందిప్రసంగించారు. ....చెన్నై, టి.నగర్, శ్రీ పద్మం కళ్యాణ మండపం లో, తమిళ నాడు తపాల ఉద్యోగ సంఘాల ఆతిధ్యములో తపాల ఉద్యమ చరిత్రలో మొదటి సారిగా యిటువంటి సదస్సు విజయవంతంగా, ఘనంగా నిర్వహించ బడినది.
Saturday, June 18, 2011
After the assuming of charge as Chief Minister of West Bengal by miss Mamta Banerjee, there are large scale violence and attacks on the functionaries and offices of the Left trade unions, by the goons of Trinamool Congress. Concerned with these developments, Dr. G. Sanjeeva Reddy, President of the INTUC has writern a letter to miss. Mamta Banerjee, Chief Minister of West Bengal.