Enter Keyword and Search





Tuesday, April 26, 2011

New Pension Scheme for railway employees challenged

with 0 Comment
New Pension Scheme for railway employees challenged

The new pension scheme introduced by the Union Government for railway employees has been challenged in the Madras Bench of the Central Administrative Tribunal.

An employee of the southern railway and Dakshin Railway Employees Union (DREU) have challenged the scheme terming it unconstitutional and invalid.

According to the new scheme, employees appointed on or after 01.01.1994 in the Railways would be governed by the new pension scheme which would be governed by ‘Pension Fund Regulatory Development Authority’ which would function under the overall control of Ministry of Finance. According to the new scheme, 10% of Pay and DA of an employee would be deducted and an equal amount would be contributed by the central government.

The entire pension scheme is being authorized through various executive orders, which cannot be done to govern the retirement benefits of government employees which has to be in tune with Articles 41 to 43 of the Constitution, alleges the application. The notifications issued by the government constituting PFRDA dated 10.10.2003 and 14.11.2008 are unconstitutional, as they have not been issued by the President of India and authenticated as required under Article 77 of the Constitution and the ordnance sanctioning this also lapsed in 2005, which renders the entire process without authority of law alleges DREU in its application.

The new pension scheme, which is mandatory to government employees curtails them from exercising any option said V. Daniel, a Helper in Southern Railway. According to the New Pension Scheme, any citizen of India can join the Scheme and they can choose their Fund Managers or opt for different schemes whereas no such option is available to government servants.

The application also raised serious apprehension over the way in which their funds are being exposed to market risk and they cite the risk clause in the offer document of the NPS which says that “there are no guarantee on investments and investments involve risks such as trading volumes, settlement risk, liquidity risk, default risk, including possible loss of principal’. The application also cited the statement of PFRDA Chairman that pension fund managers regulated by PFRDA are not giving minimum guarantee on returns in their products.

Besides seeking quashing of the notification and grant retiral benefits to all employees on par with those who joined prior to January 1994, the application sought an interim injunction against the notification and also to release family pension and gratuity to certain employees who died after the introduction of the new scheme.

The matter came up before the Madras Bench of the CAT comprising Members K. Elango and R. Satapathy. Counsel R. Vaigai advanced arguments on behalf of the DREU and highlighted how the funds of the employees are being entrusted with private players and are subjected to undue risks. She also apprised the Bench that the government as an employer cannot transfer its funds to a private player and expect him to discharge government’s obligation.

After hearing the arguments on behalf of the applicant and of the central government, the Bench ordered interim relief directing the railway authorities to offer gratuity and family pension to all employees who joined after January 2004 within four weeks from the date of application and posted the matter for June 1.

Source: Lawetal News

List of common abbreviations frequently used in Central Government Offices

with 0 Comment



We have compiled the common abbreviations, which are frequently used in Central Government Offices as follows...



ABBREVIATIONS



1. A.O. : Accounts Office
2. A.O. : Accounts Officer
3. A.Os : Accounts Officers
4. A.Os. : Accounts Officers
5. “A” : Accounts
6. Asstt. : Assistant
7. A.C.A. : Assistant Controller of Accounts
8. Art. : Article
9. A/C : Account
10. ADG/SP : Additional Director General/Service Project
11. Ack. Due: Acknowledgment Due
12. AG : Accountant General
13. AT : Acceptance of Tender
14. Adj. Vr.: Adjustment Voucher
15. AT No/SO No. : Acceptance of Tender Number/Supply Order Number
16. AT No. : Acceptance of Tender Number
17. BSR : Broken Seal Register
18. CPM : Critical Path Method
19. CRMR : Charge, Receipt, Minus Receipt
20. CB : Cheques and Bills
21. CEA, IR : Children Education Allowance, Interim Relief
22. CCA : City Compensatory Allowance
23. CSR/TR : Civil Service Regulation / Treasury Rule
24. CIA : Chief Inte-arla Auditor
25. "C" Section : Costing Section
26. Col. : Colonel
27. CR Voucher : Certified Receipt Voucher
28. CPt : Cubic Foot
39. DA : Dearness Allowance
30. Dy. GM : Deputy General Allowance
31. DA : Dearness Allowance
32 . CCA : City Compensatory Allowance,
33. HRA : House Rent Allowance
34. DGI : Director Accounts Department
35. DP Section : Data Processing Section
36. Dy. Manager : Deputy Manager
37. DDG/SP : Deputy Director General/Service Project
38. DOS : Director of Riddance Services
39. DCA : Deputy Controller of Accounts
40. D (D) Vr. : Deficiency (Discrepancy) Voucher
41. D of S & D : Director of Supply and Disposal
42. DV : Disbursement of Voucher
43. DPS : Daily Payment Sheet
44. EDP : Electronic Data Processing
45. EL : Earned Leave
46. Ftr. : Factories
47. Fire Wood (Ord) : Fire Wood (Ordinary)
48. FR Part I : Financial Regulation Part I
49. GM : General Manager
50. GMs : General Managers
51. Gr. I : Grade-One
52. Gr. II : Grade-Two
53. Govt. : Government
54. G.P. Fund : General Provident Fund
55. GB : Garrison Engineer
56. HQrs. : Headquarters
57. I. Es : Industrial Employees
58. I. Note : Inspection Note
59. Issue Vr. : Issue Voucher
60. I.P.W. : Individual Piece Worker
61. IT : Idle Time
62. I/c : In Charge
63. IPW/GPW : Individual Piece Worker/Gang Piece Worker
64. IPW/PW : Individual Piece Worker/Piece Worker
65. IFD : Inter Factory Demand
66. ID Schedule : Inter Department Schedule
67. IBM 1401-M : International Business Management 1401-M
68. ID List : Inter Department List
69. IFD Items : Inter Factory Demand Items
70. Jt. GM : Joint General Manager
71. KOD : Kind of Document
72. LTC : Leave Travel Concession
73. LP : Leave with Pay
74. LPC : Last Pay Certificate
75. L.P. Bills/LP : Local Purchase Bills/Local Purchase
76. LAO : Local Audit Officer
77. LAOs : Local Audit Officers
78. LAOs Hand Book : Local Audit Officers Hand Book
79. LP/CP/FP : Local Purchase/Central Purchase/Foreign Purchase
80. MRO : Military Receivable Order
81. MT Vehicle : Motor Transport Vehicle
82. M/s : Material Section
83. MES : Military Engineering Service
84. M.C. Note : Military Credit Note
85. MI Slip : Material Inward Slip
86. MT Store : Motor Transport Store
87. NIES/NGOs : Non Industrial Employees/Non Gazetted Officers
88. NDA/NSB : Night Duty Allowance/Night Shift Bonus
89. NMD : Non Military Department
90. OTA : Overtime Allowance
91. OM Pt. VI : Office Manual Part VI
92. OM Pt. II Vol. II: Office Manual Part II Volume II
93. PM : Punching Medium
94. PW : Piece Worker
95. P+DA+CCA : Pay+Dearness Allowance+City Compensatory Allowance
96. Pay+DA+CCA : Pay+Dearness Allowance +City Compensatory Allowance
97. PW Profit : Piece Work Profit
98. PSA Schedule : Priced Store Account Schedule
99. P&AO : Pay and Accounts Office
100. PAOs : Pay & Accounts Offices
101. PSA : Priced Store Account
102. PSS : Priced Store Schedule
103. PSL : Priced Store Ledger
104. PSA Adjustment : Priced Store Account Adjustment
105. PSA Code : Priced Store Account Code
106. PAR : Package Accounting Register
107. PD Ledger : Priced Production Ledger
108. PERT : Program Evaluation and Review Technique
109. Qty. : Quantity
110. Q 1 and Q 2 : Quantity One and Quantity Two
111. R&D : Research and Development
112. RT. Vr. : Receipt Voucher
113. Rly. Receipt : Railway Receipt
114. Rt. Vr. No. : Receipt Voucher No
115. SWO Drafts/SWODs: Supplementary Work Order Drafts
116. Sr. A.O. : Senior Accounts Officer
117. SO (A) : Section Officer (Accounts)
118. "S" Section : Store Section
119. State A.G. : State Accountant General
120. S or D Services : Stock or Deposit Services
121. SV Group & AO : Stock Verification Group and Accounts Office
122. SV Group : Stock Verification Group
123. S.O. Rate/AT Rate: Supply Order Rate/Acceptance of Tender Rate
124. TA/LTC : Travelling Allowance/Leave Travel Concession
125. T Section : Transportation Section
126. TA : Travelling Allowance
127. TB : Tuberculosis
128. TA/DA : Travelling Allowance/Daily Allowance
129. TDE : Technical Development Establishment
130. TPC : Tender Purchase Committee
131. V1 and V2 : Value-One and Value-Two
132. Vr. : Voucher
133. Vr. No. : Voucher Number
134. Wt. No. : Warrant Number
135. WO No./WO : Work Order Number/Work Order
136. WC Act/CSR : Workmen Compensation Act/Central Civil Service Regulation
137. BMP : Basic Metallurgical Project
138. HAPP : Heavy Alloy Penetrator Project
139. A & E : Ammunition and Explosives
140. Fys : Factories
141. AFA-I : Assistant Financial Adviser-I
142. AFA-II : Assistant Financial Adviser-II
143. Dy. Director/PAC: Deputy Director/Public Accounts Committee
144. Accounts (Fys) : Accounts (Factories)
145. Member (Pers.) : Member (Personnel)
146. PERS Div. : Personnel Division
147. Member/P&MM : Member/Planning and Material Management
148. P&MM : Planning and Material Management
149. Member TS : Member Technical Development and Services
150. TS Division : Technical Development and Services Division
151. DPS : Data Processing Section

Source: www.cgstaffnews.com


Disclaimer:As and when orders amending the rules are published by the Government, the amendment orders will be published in our blog immediately. Readers are requested to refer to the source link is given at the end of the post. All efforts have been made to ensure accuracy of the content on this blog, the same should not be construed as a statement of law or used for any legal purposes. 90paisa accepts no responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents. Users are advised to verify/check any information with the relevant department(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the blog. Links to other websites that have been included on this blog are provided for public convenience only. 90paisa is not responsible for the contents or reliability of linked websites and does not necessarily endorse the view expressed within them. We cannot guarantee the availability of such linked pages at all times.