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Wednesday, March 13, 2013

Comparison in the returns between EPF and NPS

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Comparison in the returns between Employees Provident Fund and New Pension Scheme

Returns on EPFO fund is difficult to compare with return on other Pension Schemes like New Pension Scheme.

With an important message, a written reply was submitted in Lok Sabha 4th March, 2013 by the Minister of State for Labour and Employment Shri. Kodikunnil Suresh about the returns on NPS as follows...

Housing Schemes by CGEWHO

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Housing Schemes by CGEWHO 

As reported by CGEWHO, housing Schemes under the organization to provide houses to Central Government Employees in different parts of the country are as under: -

IT Department Urges Taxpayers to Pay all Self- Assessment Tax Dues by 31ST March

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IT Department Urges Taxpayers to Pay all Self- Assessment Tax Dues by 31ST March 

The Income-tax Act requires that the tax payable on the returned income after taking into account prepaid taxes, should be paid before furnishing the return. An analysis of returns filed electronically in the current Financial Year (2012-13) reveals that nearly 73,388 taxpayers have defaulted on such payments aggregating to Rs. 3,859 crore. 

Guidelines for New Mobile Connections

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Guidelines for New Mobile Connections 

Department of Telecom (DoT) has issued revised instructions to Cellular Mobile Telephone Service and Unified Access Services Licensees vide letter dated 09.08.2012 on verification of Mobile Subscribers after review of existing instructions. New instructions are aimed at improving customer verification compliance. These instructions inter-alia prescribe the following: 

Shortage of Houses for Government Employees

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Shortage of Houses for Government Employees

Union Minister for Urban Development Shri Kamal Nath has said that there is shortage of accommodation for Central Government employees in cities like, Kolkata, Mumbai, Delhi, Bangalore and Chennai.  The position is comfortable at other stations.

He said in a reply to a question in Lok Sabha today that the following initiatives have been taken to increase availability of houses:-

No increase in Tuition Fee in KV Schools - Proposal to enhance VVN

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No increase in Tuition Fee in KV Schools - Proposal to enhance VVN

The Minister of State for Human Resource Development Shri.Shashi Tharoor stated in the Parliament that there is no proposal to increase the tuition fee in Kendriya Vidyalayas (KVs). However, there is a proposal to enhance the Vidyalaya Vikas Nidhi (VVN) contribution and the computer fund fee. 

Reservation in Promotion to Women Employees in Central Government services

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Reservation in Promotion to Women Employees in Central Government services

Reservation in promotion or in services to women employees in Central Government services..?

The question has been raised by the member of Parliament Shri.Wakchaure Bhausabeb Rajaram, the concerned minister has replied that there is no proposal to give reservation to women in services or in promotion.

Rashtriya Military Schools (RMS) and Sainik Schools in India

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Rashtriya Military Schools (RMS) and Sainik Schools in India

Military and Sainik Schools

At present, there are five Rashtriya Military Schools (RMS) and twenty four Sainik Schools under the Ministry of Defence in the country. Their state-wise location is enclosed as below.

At present there is no proposal to open any new RMS.

7th CPC News : SEVENTH PAY COMMISSION MUST BE SET UP FORTHWITH

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7th CPC News : SEVENTH PAY COMMISSION MUST BE SET UP FORTHWITH 

The recent statement of the Minister concerned in the Parliament, that the Govt does not propose to set up the seventh Pay Commission at this stage is most unjustified and frustrating for the Govt employees. 

Fifth Pay Commission had recommended for a Pay Revision after every five years instead of the past practice to set it up after 10 to 13 years. But the Govt did not accept this recommendation. 

The Fifth Pay Commission also recommended for Merger of DA after it crossed 50%. Govt accepted the same and belatedly implemented it from April 2004. 

Circular on replacing the existing facility of ‘Phased Withdrawal’ with ‘Deferred Withdrawal’

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CIRCULAR

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

PFRDA/ 2013/ 6/ PDEX /5 
March 11th, 2013

To,
All POP’s, Aggregators, CRA, Central and State Governments,

Dear Sir/ Madam,

Sub: Circular on replacing the existing facility of ‘Phased Withdrawal’ with ‘Deferred Withdrawal’

Feedback is being received from various stakeholders that the subscribers be given a specific option to defer or time the entire lump sum withdrawal (max 60%) at the time of exit from National Pension System (NPS) rather than forcing them to choose a certain percentage (%) each and every year while choosing the existing ‘Phased withdrawal’ option, including the year in which they are exiting the system.


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