State Railway Provident Fund – Rate of interest from January 2025 to March 2025
GOVERNMENT OF INDIA MINISTRY OF RAILWAYS (RAILWAY BOARD)
No. F(E)III/2003/PF-1/1
New Delhi, Dated: 28.01.2025
The General Managers/Principal Financial Advisers, All Zonal Railways/Production Units etc., DGs of RDSO and NAIR.
Subject: State Railway Provident Fund-Rate of interest during the 4th Quarter of financial year 2024-25 (1st January, 2025 — 31st March, 2025).
A copy of Department of Economic Affairs, Ministry of Finance’s Resolution F.No. 5(3)-B(PD)/2023 dated 3rd January, 2025 prescribing interest at the rate of 7.1%(Seven point one per cent) w.ef. 1° January, 2025 to 31° March, 2025 on accumulations at the credit of the subscribers to State Railway Provident Fund, is enclosed for information and necessary action.
(G. Priya Sudarsani) Director, Finance (Estt.) Railway Board
Income Tax 2025-26: Benefit for different category of taxpayers – Illustration
New regime provides for concessional tax rates and liberal slabs. However, no deductions are allowed in the new regime (other than those specified for e.g. 80JJAA, 80M, standard deduction).
Total Income
Tax as per existing rates[as per Finance (No.2) Act, 2024]
Tax as per proposed rates
Benefit of Rate/Slab
Rebate Benefit [with reference to (3)]
Total Benefit[computed when compared to current slab rates]
Tax Payable under new regime
(1)
(2)
(3)
(4)=(3)-(2)
(5)
(6)=(4)+(5)
(7)
8 lac
30,000
20,000
10,000
20,000
30,000
0
9 lac
40,000
30,000
10,000
30,000
40,000
0
10 lac
50,000
40,000
10,000
40,000
50,000
0
11 lac
65,000
50,000
15,000
50,000
65,000
0
12 lac
80,000
60,000
20,000
60,000
80,000
0
13 lac
1,00,000
75,000
25,000
0
25,000
75,000
14 lac
1,20,000
90,000
30,000
0
30,000
90,000
15 lac
1,40,000
1,05,000
35,000
0
35,000
1,05,000
16 lac
1,70,000
1,20,000
50,000
0
50,000
1,20,000
17 lac
2,00,000
1,40,000
60,000
0
60,000
1,40,000
18 lac
2,30,000
1,60,000
70,000
0
70,000
1,60,000
19 lac
2,60,000
1,80,000
80,000
0
80,000
1,80,000
20 lac
2,90,000
2,00,000
90,000
0
90,000
2,00,000
21 lac
3,20,000
2,25,000
95,000
0
95,000
2,25,000
22 lac
3,50,000
2,50,000
1,00,000
0
1,00,000
2,50,000
23 lac
3,80,000
2,75,000
1,05,000
0
1,05,000
2,75,000
24 lac
4,10,000
3,00,000
1,10,000
0
1,10,000
3,00,000
25 lac
4,40,000
3,30,000
1,10,000
0
1,10,000
3,30,000
50 lac
11,90,000
10,80,000
1,10,000
0
1,10,000
10,80,000
For income above 12 lac, in the case of resident individuals, marginal relief shall be allowable .
Understanding the Terms of Reference for the 8th Pay Commission: What to Expect?
The Department of Personnel & Training (DoPT) has initiated the formal process for establishing the 8th Central Pay Commission (CPC), signaling a significant development for government employees across the country. In a move emphasizing inclusivity, the DoPT has invited the Secretary of the Staff Side to submit suggestions regarding the Terms of Reference (ToRs) for the upcoming commission. – Read the DOPT Letter here
What is the Terms of Reference (TOR)?
The TOR serves as the guiding document that defines the boundaries and objectives of the Pay Commission. It essentially acts as a roadmap, directing the commission’s research, analysis, and recommendations. It outlines:
The scope of the review: Who is covered by the commission’s mandate?
The methodology: How will the commission conduct its analysis?
The specific issues to be addressed: What key areas will be examined?
The timeline: What is the expected duration for the commission’s work?
The reporting structure: Who will the commission report to?
Key Aspects of a Typical 8th Pay Commission TOR
While the precise details will be specific to the government’s needs, here are some common elements you can expect:
Review of the Existing Pay Structure:
Analysis of the 7th Pay Commission: The commission will thoroughly examine the implementation and outcomes of the previous (7th) Pay Commission’s recommendations. This includes analyzing the impact on employee satisfaction, recruitment, retention, and overall efficiency of the government workforce.
Evaluation of Pay Disparities: The commission will investigate any anomalies or disparities in pay across different government departments, cadres, and levels. This involves analyzing the existing pay matrix and identifying any areas needing adjustment.
Examination of Allowances: A crucial aspect of the TOR is the review of various allowances such as Dearness Allowance (DA), House Rent Allowance (HRA), and other special allowances. The commission will evaluate their relevance and adequacy in the current economic climate.
Recommendation for Revised Pay Scales:
Formulating a New Pay Matrix: This will likely be a key area for the commission. The commission will develop a new pay matrix that aims to be fair, transparent, and attractive to potential employees.
Determining Fitment Factors: The commission will have to recommend appropriate fitment factors to ensure that existing employees are transitioned smoothly into the revised pay structure.
Addressing Inflation and Cost of Living: The commission must consider the prevailing rate of inflation and the rising cost of living when recommending new pay scales.
Review of Benefits and Retirement Packages:
Examining Pension Schemes: The commission will review the existing pension schemes, including the National Pension System (NPS), and may recommend any changes or improvements.
Evaluating Other Retirement Benefits: The review will also include aspects such as gratuity, leave encashment, and other post-retirement benefits.
Assessing Healthcare Benefits: The commission may also examine the adequacy of existing healthcare schemes for government employees and pensioners.
Focus on Performance-Based Incentives:
Exploring Performance-Linked Pay: The commission may explore the possibility of incorporating performance-based incentives into the pay structure to motivate and reward high-performing employees.
Recommending Transparent Performance Evaluation Systems: The commission will look for ways to make performance evaluation systems more transparent, objective, and fair.
Linkage to Productivity: It may also look at ways to better link pay to productivity and efficiency within government departments.
Addressing Technological Changes and Workforce Needs:
Adapting to Digital Transformation: The commission will consider the impact of technology on the nature of government work and explore ways to compensate and train employees for these changes.
Skills Upgradation: The TOR might also include recommendations for skills upgradation and training programs to enhance workforce effectiveness.
Addressing the Needs of the Changing Workforce: This involves considering the needs of a more diverse and technologically-savvy workforce.
Specific Areas of Concern:
The TOR will often include specific areas of concern that the government wants the commission to address, such as specific cadres that require attention.
Importance of the TOR
The TOR is essential because it:
Ensures a focused approach: It guides the commission to address specific objectives.
Provides transparency: It makes the commission’s mandate clear to all stakeholders.
Allows for effective evaluation: It provides a framework for assessing the commission’s recommendations.
Looking Ahead
As we await the formal notification for the 8th Pay Commission, the Terms of Reference will be the most crucial document to follow. It will be the key to understanding what changes to expect, and how the government intends to reward and motivate its workforce. For government employees, understanding these guidelines is critical to participating in the dialogue and understanding the process.
Governing of PLI/RPLI Schemes under Post Office Regulations 2024
eF.No.29-26/2024-LI Ministry of Communications Department of Posts (Directorate of Postal Life Insurance). Chanakyapuri P.O. Complex New Delhi-110021
OFFICE MEMORANDUM
Dated: 23.01.2025
Sub: Governing of PLI/RPLI Schemes under Post Office Regulations, 2024.
The Postal Life Insurance (PLI) / Rural Postal Life Insurance (RPLI) schemes, which are being governed by “Post Office Life Insurance Rules, 2011” published on 28th April 2011 in the Gazette of India No. 85 (Part-I Section-I Extraordinary), shall henceforth be governed through Post Office Regulations, 2024 notified vide Gazette No. S.O. 5440(E) dated 16.12.2024 in exercise of powers conferred under Post Office Act, 2023 and Post Office Rules, 2024.
2. However, the content of the existing Post Office Life Insurance Rules, 2011 including amendments and Standard Operating Procedures (SOPs) issued from time to time, shall continue as administrative instructions, till issuance of revised administrative instructions.
3. Copy of Gazette notification published vide No.29-26/2024-LI on 13.01.2025 in this regard is enclosed with this letter.
This issues with the approval of competent authority.
(Mrinalini Srivastava) Additional General Manager (PLI)
All CPMsG
Copy to: –
P50 to Secretary (Posts)/ PPS to Director General Postal Services.
PPS/PS to All Members of Postal Services Board
AS&FA/Sr. Deputy Director General (Vigilance) & CVO/Sr. Deputy Director General (PAF)
Director, Rafi Ahmed Kidwai National Postal Academy, Ghaziabad
CGM (BD)/CGM (Parcel)/CGM (CEPT)
Addl.DG, APS C/o 56 APO
All DDsG/GMs/Secretary PSB
GM (CEPT), Mysuru, with the request to upload the order in India Post Website
All Directors, Postal Training Centres/ Director, PLI, Kolkata
Revival Drive – Waiver on default fee for revival of lapsed PLI/RPLI policies during the period 01.03.2025 to 31.05.2025
F.No.26-02/2024-LI Ministry of Communications Department of Posts (Directorate of Postal Life Insurance) Chanakyapuri P.O. Complex New Delhi-110021
Dated: 23.01.2025
OFFICE MEMORANDUM
To
All HOCs
Sub: Revival Drive — Waiver on default fee for revival of lapsed PLI/RPLI policies during the period 01.03.2025 to 31.05.2025
In order to encourage revival of lapsed PLI/RPLI policies, it has been decided to launch a drive for revival of lapsed PLI/RPLI policies during the period 01.03.2025 to 31.05.2025.
2. To make the drive attractive to our customers, waiver on default fee has been approved by the competent authority. The waiver is applicable only on revival of a policy, not on reinstatement. The approved maximum limits of waiver, which shall apply on the default/late fee only, on payment of revival amount in one installment / lump sum in a lapsed PLI/RPLI policy, are as follows:-
Total Premium Receivable for all types of PLI/RPLI Policies on account of revival
Concession/Waiver in Late/Default Fee
Maximum limit of Concession/Waiver in Late/Default Fee restricted to
Up to ₹ 1,00,000/-
25%
₹ 2500/-
From ₹ 1,00,001/- up to 3,00,000/-
25%
₹ 3000/-
From ₹ 3,00,001/- and above
30%
₹ 3500/-
The above figures are excluding GST.
2. All Circles are therefore requested to kindly arrange to give wide publicity to the Revival Drive at Circle/Regional/Divisional/CPC levels through melas, print media, social media, pamphlets, notice boards, messages printed on counter receipts etc to boost the revival of lapsed policies as well as to educate and sensitize policyholders about the benefits of revival of lapsed policies.
3. As the maximum possibility of revival is expected in those PLURPLI policies which have lapsed during the last five years, Circles should focus on targeting these policies for revival. Data related to the above-mentioned policies may be extracted from the McCamish system at Circle level and made available to Divisions/CPCs to target the same for revival.
This issues with the approval of the competent authority.
(Mirnalini Srivastava) Additional General Manager (PLI)
Copy to:-
All PMsG
GM (CEPT), Mysuru, with the request to upload the order in the India Post Website
Leave during Parliament Session: Dept of Posts Instructions
F. No. 1-6/2022-SPG Government of India Ministry of Communication Department of Posts
DatedL 28.01.2025
Subject: Instructions regarding leave during Parliament Session-reg.
This is for the information of all concerned that the first part of the 4th Session of 18th Lok Sabha and 267th Session of Rajya Sabha (January-April-2025) will commence from Friday, the 31st January, 2025 and is likely to conclude on Thursday, the 13th February, 2025. The second part of the session will commence on Monday, the 10th March, 2025 and is likely to be concluded on Friday the 4th April, 2025.
2. In view of above, all Heads of Circles are requested to plan their leave either during the recess period of the session or after conclusion of the forthcoming Session of Parliament as far as possible.
3. This issues with the approval of the Competent Authority.
Copy forwarded to:
PSO to Secretary Posts/PPS to Director General Postal Services.
Sr. PPS/PS to all Members Postal Services Board.
All CPMsG/Sr. DDG & CVO)/ CGM (PLI)/ CGM (Parcel).
Director, RAKNPA, Ghaziabad.
Addl. DG, APS.
All DDsG (through eOffice portal)
GM, CEPT Mysore for uploading on India Post website.
SO (Admn) with a request to upload this OM in eOffice portal.
Revised Composition of Review Committee for Group B Gazetted Officers in Postal Circles – Dept of Posts
No. X-20/57/2022-SPN-II Government of India Ministry of Communications Department of Posts (Personnel Division)
Dak Bhawan, Sansad Marg, New Delhi – 110 001. Dated: 31-01-2025
To
All Heads of Postal Circles.
All Heads of Postal Regions.
Subject: Review under FR 56(j), 56(l) and Rule 48(1)(b) of CCS Pension Rules, 1972 [now revised as Rule 42 of CCS Pension Rules, 2021]-reg.
Madam/Sir,
Attention is invited to Directorate’s letter No. X-19/6/2019-SPN-II dated 07.04.2020, which provides detailed instructions on the subject mentioned above. It has been observed that several Circles are facing issues in forming the Review Committee under these Rules due to non-availability of Senior Administrative Grade (SAG) officers, particularly in the Postmaster General (PMG) cadre.
2. In this connection, matter has been examined in consultation with SPG Branch of Directorate and the competent authority has approved following composition of the Review Committee for review of all Group B Gazetted Officers working in Postal Circles:
(a) Chief Postmaster General (CPMG) of the Circle – Chairman (b) One officer of the level of PMG/DPS – Member (c) Vigilance Officer, as nominated by the Chief Vigilance Officer (CVO) – Member
3. All Circles are therefore requested to proceed with the functioning of the Review Committee in accordance with the revised composition and ensure compliance with the relevant provisions of aforesaid Rules.
4. This may be brought to the notice of all concerned for necessary action.
IDA from Jan 2025 for 2017 basis Pay Scales CPSE Employees – DPE ORDER
No. W-02/0039/2017-DPE (WC)-GL /2025 Government of India Ministry of Finance Department of Public Enterprises
Public Enterprises Bhawan Block 14, CGO Complex, Lodi Road, New Delhi-110003 Dated: the 28th January, 2025
OFFICE MEMORANDUM
Subject: – Board level and below Board level posts including Non-unionised supervisors in Central Public Sector Enterprises (CPSEs)- Revision of scales of pay w.e.f. 01.01.2017 – Payment of IDA at revised rates.
The undersigned is directed to refer to para 7 and Annexure-III (B) of DPE’s OM dated 03.08.2017 wherein the rates of DA payable to the Board level and below Board level executives and non-unionized supervisors of CPSEs have been indicated, and to state that DA payable to the executives and non-unionized supervisors of CPSEs w.e.f. 01.01.2025 for 2017 Pay Scales has been revised to 49.6%.
2.The above rate of DA i.e. 49.6% would be applicable in the case of IDA employees who have been allowed revised pay scales (2017) as per DPE O.Ms. dated 03.08.2017, 04.08.2017 & 07.09.2017.
3.All administrative Ministries/Departments of the Government of India are requested to bring the foregoing to the notice of the CPSEs under their administrative control for necessary action at their end.
4.This issues with the approval of the Competent Authority.
(Dr. P.K. Sinha) Deputy Secretary to the Government of India
To All administrative Ministries/Departments of the Government of India. Copy to:
The Chief Executives of Central Public Sector Enterprises
Financial Advisers in the Administrative Ministries/Departments
Department of Expenditure, E-II Branch, North Block, New Delhi
The Comptroller & Auditor General of India, 9 Deen Dayal Upadhayay Marg, New Delhi
NIC, DPE with the request to upload this OM on the DPE website
(Dr. K. Sinha) Deputy Secretary to the Government of India
IDA from Jan 2025 for 2007 basis Pay Scales CPSE Employees – DPE ORDER
No. W-02/0002/2014-DPE(WC)-GL-/2024 Government of India Ministry of Finance Department of Public Enterprises
Public Enterprises Bhawan Block 14, CGO Complex, Lodi Road, New Delhi-110003 Dated: the 28th January, 2025
OFFICE MEMORANDUM
Subject: – Board level and below Board level posts including Non-unionised supervisors in Central Public Sector Enterprises (CPSEs)- Revision of scales of pay w.e.f. 01.01.2007 – Payment of IDA at revised rates.
The undersigned is directed to refer to the para 6 and Annexure-II (B) of DPE’s OM dated 26.11.2008 wherein the rates of DA payable to the Board level and below Board level executives and non-unionized supervisors of CPSEs have been indicated and to state that the rate of DA payable to the executives and non-unionized supervisors of CPSEs w.e.f 01.01.2025 for 2007 pay scales has been revised to 228.5%.
2. The above rate of DA i.e. 228.5% would be applicable in the case of IDA employees who have been allowed revised pay scales (2007) as per DPE OMs dated 26.11.2008, 09.02.2009 & 02.04.2009.
3. All administrative Ministries/Departments of the Government of India are requested to bring the foregoing to the notice of the CPSEs under their administrative control for necessary action at their end.
4. This issues with the approval of the Competent Authority.
(Dr.K. Sinha) Deputy Secretary to the Government of India
To All administrative Ministries/Departments of the Government of India.
Copy to:
The Chief Executives of Central Public Sector Enterprises.
Financial Advisers in the Administrative Ministries/Departments.
Department of Expenditure, E-II Branch, North Block, New Delhi.
The Comptroller & Auditor General of India, 9 Deen Dayal Upadhayay Marg, New Delhi.
NIC, DPE with the request to upload this OM on the DPE website.
(Dr. P.K. Sinha) Deputy Secretary to the Government of India
No Income Tax on annual income upto Rs.12 lakh under New Tax Regime
Limit to be Rs. 12.75 lakh for salaried tax payers, with standard deduction of Rs.75,000
Union budget 2025-26 brings across-the-board change in income tax slabs and rates to benefit all tax-payers
Tax slab rate reduction and rebates to result in substantial tax relief to middle class, thereby boosting household consumption expenditure and investment
Reaffirming Government’s commitment to the philosophy of “trust first, scrutinize later”, the Union Budget 2025-26 has reposed faith in the Middle class and continued the trend of giving relief in tax burden to the common tax–payer. Presenting the Budget in the Parliament today, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman proposed an across-the-board change in tax slabs and rates to benefit all tax-payers.
Giving the good news to tax payers, the Finance Minister stated, “There will be no income tax payable upto income of Rs. 12 lakh (i.e. average income of Rs.1 lakh per month other than special rate income such as capital gains) under the new regime. This limit will be Rs.12.75 lakh for salaried tax payers, due to standard deduction of Rs. 75,000.” Tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by them, she added.
Smt. Sitharaman stated, “The new structure will substantially reduce the taxes of the middle class and leave more money in their hands, boosting household consumption, savings and investment”. In the new tax regime, the Finance Minister proposed to revise tax rate structure as follows:
0-4 lakh rupees
Nil
4-8 lakh rupees
5 per cent
8-12 lakh rupees
10 per cent
12-16 lakh rupees
15 per cent
16-20 lakh rupees
20 per cent
20- 24 lakh rupees
25 per cent
Above 24 lakh rupees
30 per cent
The total tax benefit of slab rate changes and rebate at different income levels can be illustrated in the table below:
While underlining Taxation Reforms as one of key reforms to realize the vision of Viksit Bharat, Smt. Sitharaman stated that the new income-tax bill will carry forward the spirit of ‘Nyaya’. The new regime will be simple to understand for taxpayers and tax administration, leading to tax certainty and reduced litigation, she informed.
Quoting Verse 542 from The Thirukkural, the Finance Minister stated, “Just as living beings live expecting rains, Citizens live expecting good governance.” Reforms are a means to achieve good governance for the people and economy. Providing good governance primarily involves being responsive. The tax proposals detail just how the Government under the guidance of Prime Minister Shri Narendra Modi has taken steps to understand and address the needs voiced by our citizens, Smt. Sitharaman added.
