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Saturday, August 22, 2009

Prime Minister didn’t announce 60% Arrears in his Independence Day Speech ..?

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All knew that arrears could be given as two installments when 6th CPC was announced. Having announced that 40% Arrears would be given in the financial year 2008-09 and 60% arrears would be given in the Financial Year 2009-10, the government gave the 40% arrears to all CG employees on Oct-2008.

Though 60% arrears should have been given before March 31st, it was speculated by all that the Prime Minister would indirectly deliver the expected message on Independence Day like he did the previous year.

But Prime Minster did not give any indicator of it in his message on Independence Day Speech. It was perhaps, because of the Finance Ministry’s (Department of Expenditure) O.M. released on 17 August 2009.

For having not registered to the New Pension Scheme being appointed on or after 2004 the Finance Ministry has given Permanent Retirement Account Number (PRAN) application form along with the order.

After the above said criteria gets over i.e., the return of application forms duly filled to the National Securities Depositories Limited (NSDL) by the respective Departments/Ministries before 31.08.2009. It is known that the order for released their 60% arrears would be passed. The saying was because of this crucial matter Prime Minister didn’t announce anything regarding this.

Even then the reliable information was that the remaining employees would receive their arrears by the first week of September 2009.

Whether there would be Income Tax deduction for the 60% arrears is not clearly known.



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