Productivity Linked Bonus to all eligible non-gazetted Railway employees for 2023-24: RBE ORDER
GOVERNMENT OF INDIA (เคญเคพเคฐเคค เคธเคฐเคเคพเคฐ) MINISTRY OF RAILWAYS (เคฐเฅเคฒ เคฎเคเคคเฅเคฐเคพเคฒเคฏ) RAILWAY BOARD (เคฐเฅเคฒเคตเฅ เคฌเฅเคฐเฅเคก)
RBE No.91/2024
No. E(P&A)II/2024/PLB-1
New Delhi, dt. 04.10.2024
The General Managers/CAOs, All Indian Railways & Production Units etc.
Sub: Payment of Productivity Linked Bonus to all eligible non-gazetted Railway employees for the financial year 2023-24
The President is pleased to sanction Productivity Linked Bonus (PLB) equivalent to 78 (Seventy Eight) days wagesโ without any ceiling on wages for eligibility for the financial year 2023-24 to all eligible non-gazetted Railway employees (excluding all RPF/RPSF personnel). Where, wagesโ exceed โน 7000/- per month, Productivity Linked Bonus will be calculated as if the โwagesโ are โน 7000/- p.m. Other conditions of eligibility, method of calculation of wages, etc., as prescribed in this Ministryโs instructions and Clarifications issued from time to time, shall remain unchanged.
2. It has also been decided that in the case of eligible employees mentioned in Para 1 above who were not placed under suspension, or had not quit service/retired/expired during the financial year 2023-24 or were on leave where leave salary admissible is not less than that admissible on leave on average pay, may be paid an amount of โน17,951/- towards Productivity Linked Bonus for the financial year 2023-24. In the case of employees other than those mentioned above, the amount of Productivity Linked Bonus may be calculated in accordance with the extant instructions on the subject.
3. Further, in relaxation to the provisions in Rules 905(2), 908 and 909 of State Railway Provident Fund Rules, as contained in Chapter 9 of R-I/1985 edition (2003 Reprint edition), such of the subscribers to the SRPF as are entitled to Productivity Linked Bonus may, if they so desire, deposit the whole or part of the amount admissible under the Scheme In their respective State Railway Provident Fund Accounts.
4. Disbursement of Productivity Linked Bonus for the financial year 2023-24 to all eligible non-gazetted Railway employees mentioned in Para 1 above should be made in the same mode as payment of salary on priority basis.
5. This issues with the concurrence of Finance Directorate of the Ministry of Railways.
(Sundeep Pal) Executive Director Pay Commission Railway Board
Cabinet approves and announces Productivity Linked Bonus (PLB) for 78 days to railway employees
In recognition of the excellent performance by the Railway staff, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved payment of PLB of 78 days for Rs. 2028.57 crore to 11,72,240 railway employees.
The amount will be paid to various categories, of Railway staff like Track maintainers, Loco Pilots, Train Managers (Guards), Station Masters, Supervisors, Technicians, Technician Helpers, Pointsman, Ministerial staff and other Group C staff. The payment of PLB acts as an incentive to motivate the railway employees for working towards improvement in the performance of the Railways.
Payment of PLB to eligible railway employees is made each year before the Durga Puja/ Dusshera holidays. This year also, PLB amount equivalent to 78 days’ wages is being paid to about 11.72 lakh non-gazetted Railway employees.
The maximum amount payable per eligible railway employee is Rs.17,951/- for 78 days. The above amount will be paid to various categories, of Railway staff like Track maintainers, Loco Pilots, Train Managers (Guards), Station Masters, Supervisors, Technicians, Technician Helpers, Pointsman, Ministerial staff and other Group ‘C staff.
The performance of Railways in the year 2023-2024 was very good. Railways loaded a record cargo of 1588 Million Tonnes and carried nearly 6.7 Billion Passengers.
Many factors contributed to this record performance. These include improvement in infrastructure due to infusion of record Capex by the Government in Railways, efficiency in operations and better technology etc.
(TO BE PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA) F.NO. 5(3)-B(PD)/2023 Government of India Ministry of Finance Department of Economic Affairs (Budget Division)
New Delhi, the 03 October, 2024
RESOLUTION
It is announced for general information that during the year 2024-2025, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven point one percent) w.e.f. 1 October, 2024 to 31 December, 2024. This rate will be in force w.e.f. 1 October, 2024. The funds concerned are:
The Indian Ordnance Factories Workmenโs Provident Fund.
The Indian Naval Dockyard Workmenโs Provident Fund.
The Defence Services Officers Provident Fund.
The Armed Forces Personnel Provident Fund.
2. Ordered that the Resolution be published in Gazette of India.
Sd/- (Ashish Vachhani) Additional Secretary to the Govt. of India
To, The Manager, (Technical Branch) Government of India Press, Minto Road, Delhi.
F.No.5(3)-B(PD)/2023
Copy forwarded to all Ministries/Departments of Government of India, Presidentโs Secretariat, Vice-Presidentโs Secretariat, Prime Ministerโs Office, Lok Sabha Secretariat, Rajya Sabha Secretariat, pannel Secretariat, Union Public Service Commission, Supreme Court, Election Commission and NITI ayog.
Copy also forwarded to :โ
Comptroller & Auditor General of India and all offices under his control.
Chairman, Pension Fund Regulatory and Development Authority.
Controller General of Accounts.
Ministry of Personnel Public Grievances and Pension (Pension Unit/All India Services Division).
Financial Adviser of Ministries/Departments.
Chief Controller of Accounts/Controller of Accounts of Ministries/Depariments.
Controller General of Defence Accounts.
Finance Secretary of all State Governments and Union Territories.
Secretary to Governors/Lt. Governors of all States/Union Territories. Yas
Secretary Staff Side, National Council of JCM.
All Members, Staff Side, National Council of JCM. :
Small Savings Schemes interest rates from Oct 2024 to Dec 2024
F.No.1/4/2019-NS Government of India Ministry of Finance Department of Economic Affairs (Budget Division)
North Block, New Delhi Dated: 30.09.2024
OFFICE MEMORANDUM
Subject: Revision of interest rates for Small Savings Schemes โ reg.
The rates of interest on various Small Savings Schemes for the third quarter of FY 2024-25 starting from 1st October, 2024 and ending on 31st December, 2024 shall remain unchanged from those notified for the second quarter (1 July, 2024 to 30th September, 2024) of FY 2024-25.
Declaration of DA/DR, PLB and Adhoc Bonus โ Confederation writes to Finance Minister for immediate intervention
CONFEDERATION OF CENTRAL GOVT. EMPLOYEES & WORKERS North Avenue New Delhi-110001
Ref: Confd. Bonus-DA-DR/2023 -24
Dated – 30.09.2024
To
Smt. Nirmala Sitharaman Honโble Finance Minister Government of India Ministry of Finance North Block, New Delhi โ 110001
Sub: DECLARATION OF DA/DR, PLB AND ADHOC BONUS โ REG.
Respected Madam,
I would like to draw your kind attention towards non declaration of the due installment of DA/DR w.e.f. from 01-07-2024, normally it used to be declared in the last week of September and three months arrears paid in first week of October.
Severe discontent is there amongst employees and pensioners, over the delay in Announcement of the same.
Similarly, Durga Puja festival is approaching and the PLB and Adhoc Bonus too, are to be declared.
The Confederation seeks your immediate intervention in the above matter and request you to kindly cause the Declaration/Issuance of DA/ DR orderโs and the Bonus orderโs, timely.
With profound regards
Yours Sincerely Sd/- (S.B. Yadav) Secretary General
Consumer Price Index for Industrial Workers (2016=100) โ August, 2024
Labour Bureau, an attached office of the M/o Labour & Employment, has been compiling Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country. The index for the month of August, 2024 is being released in this press release.
The All-India CPI-IW for August, 2024 decreased by 0.1 point and stood at 142.6 (one hundred forty two point six).ย ย ย ย
Enhancement of Constant Attendant Allowance (CAA) under CCS Rules : DOPPW O.M 18.09.2024
1/5/2024-P&PW(F)-9809 Government of India Ministry of Personnel, PG & Pensions Department. of Pension & Pensioners’ Welfare (Desk-F )
3rd Floor, Lok Nayak Bhawan Khan Market, New Delhi-110 003 Dated: 18.09.2024
OFFICE MEMORANDUM
Sub : Enhancement of Constant Attendant Allowance (CAA) under CCS (Extraordinary Pension) Rules, 1939 / 2023 – reg.
The undersigned is directed to refer to this Department’s O.M. No.1/4/2017-P&PW(F) dated 3rd October, 2017 conveying that the rate of Constant Attendant Allowance payable to the Civilian pensioners shall be increased by 25% every time the dearness allowance on the revised Pay in the Pay Matrix increased by 50% (copy attached).
2. Department of Expenditure vide their OM No. 1/1/2024-E-II(B) dated 12.03.2024 has issued instructions regarding enhancement of Dearness Allowance Rates from existing 46% to 50% of the Basic Pay with effect from 1st January 2024. Accordingly, all the Ministries / Departments may enhance the amount of Constant Attendant Allowance by 23% from the existing Rs.6750/- to Rs.8438/- per month with effect from 01.01.2024.
3. This issues with the approval of competent authority
(Dilip Kumar Sahu) Under Secretary to the Government of India
To,
All Ministries/Departments of the Govt. of India as per standard distribution list.
CPENGRAMS brings Financial Empowerment for Family Pensioners and Super-Senior Pensioners
The Department of Pension and Pensionersโ Welfare (DoPPW) is committed towards effective and expeditious redressal of grievances through Centralized Pension Grievance Redress and Monitoring System (CPENGRAMS), an online portal. To ensure this, the grievances are monitored in terms of pace and quality of the redressal by conducting Inter-Ministerial Review Meetings (IMRMs), both in physical and virtual mode.
The resolution of these cases including those of Family Pensioners and Super-senior Pensioners has brought financial stability and social empowerment in the life of pensioners. Some of the noteworthy resolved grievances including payment of additional family pension to the 112 years old spouse and sanction of arrears of Liberalized family pension to the 85 years old spouse after 28 years, are as under:
ย ย ย Ms. Rajo (Samaspur, New Delhi): – โPayment of arrears of the Additional Family Pension amounting to more than Rs. 11.60 lakh to the 112-year-old spouse after 18 years.โ
ย ย Ms Prakasho Devi (Kishtwar, Jammu & Kashmir): – โPayment of Liberalized Family Pension arrears, amounting to Rs. 13.18 lakh to the 85 yrs old spouse after 28 yearsโ.
ย Sh. Rajkumar (Bhiwani, Haryana): – โPayment of Arrears of pension and Commuted Value of Pension (CVP) amounting to Rs. 16.37 lakh after 5 years of retirementโ.
ย ย Ms. Sarvati Devi (Jhunjhunu, Rajasthan): – โPayment of Life Time Arrears (LTA) amounting to Rs. 13.66 lakh to the spouse after 15 years.โ
ย ย Ms. Geetha Bhai (Bangalore, Karnataka): – โResumption of Family Pension to the childless widow and payment of arrears amounting to Rs. 14 lakh after 7 years.โ
ย Sh. Mahabir Singh (Jhajhar, Haryana): – โPayment of arrears of the Disability element of the pension amounting to Rs. 11.50 lakh after 03 yearsโ
ย Ms. S Sathya Devi (Karur, Tamil Nadu): – โSanction of Additional Family Pension and payment of arrears to the spouse amounting to Rs.7.34 Lakhโ
ย Sh. Bhanwar Lal Jat (Jodhpur, Rajasthan): – โSanction of arrears of the Disability Element of the pensionย w.e.f. 24.09.2012 to 31.05.2023 amounting to Rs. 8 lakh after 12 yearsโ
ย ย Sh. Dharam Paul (Jhajhar, Haryana): – โPayment of Capitalized Value of Pension amounting to Rs.ย 9 Lakh after 05 years of the retirementโ.
Sh. Lakhwinder Singh (Ambala, Haryana): – โSanction of Disability Pension arrears amounting to Rs. 9.80 lakh pending since September, 2003โ.
NPS Vatsalya: A Groundbreaking Pension Scheme for Minors
Innovative Scheme Offers Early Financial Security and Seamless Transition at Age 18
Introduction
In a significant development aimed at strengthening long-term financial security and fostering early savings habits, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, has launched the National Pension System Vatsalya (NPS Vatsalya) scheme. Announced in the Union Budget 2024-25 on July 23, 2024, this innovative pension scheme is designed exclusively for minors, marking a significant advancement in financial planning and setting a new standard for prudent financial management from a young age.
This innovative saving-cum-pension scheme, regulated and administered by the Pension Fund Regulatory Authority of India (PFRDA), marks a significant advancement in the governmentโs efforts to enhance financial planning and security across generations. By focusing on intergenerational equity, NPS Vatsalya not only aims to secure the future of its young subscribers but also underscores the importance of nurturing a culture of savings from an early age.
Under the NPS Vatsalya scheme, parents can invest a minimum of โน1,000 per month with no upper limit, thereby fostering a habit of disciplined savings for their children. The scheme is designed to be operated by parents until the child reaches 18, at which point the account transitions into the childโs name. Upon reaching adulthood, the account can be seamlessly converted into a regular NPS account or another non-NPS scheme. With the promise of substantial wealth accumulation through the power of compounding, NPS Vatsalya envisions providing a dignified and secure financial future for its subscribers, aligning with the governmentโs commitment to comprehensive financial well-being.
Account Creation and Management
Under the NPS Vatsalya scheme, all minor citizens up to the age of 18 are eligible to open an account. The account is opened in the name of the minor and managed by their guardian until the child reaches adulthood, ensuring that the minor remains the sole beneficiary throughout the process.
The account can be created through registered Points of Presence (PoPs) with the Pension Fund Regulatory and Development Authority (PFRDA). These PoPs include major banks, India Post, and pension funds, with both online and physical modes available for account setup. For those seeking an online option, the NPS Trust’s eNPS platform provides a convenient and secure method for account creation and management. A complete list of registered PoPs can be found on the PFRDA website.
Documents Required
To open an NPS Vatsalya account, the following documents are necessary:
Proof of Date of Birth for the Minor: This can be provided through a Birth Certificate, School Leaving Certificate, Matriculation Certificate, PAN, or Passport.
KYC of the Guardian: The guardian must submit proof of identity and address, which can include Aadhaar, Driving License, Passport, Voter ID card, NREGA Job Card, or National Population Register documents.
Permanent Account Number (PAN) of the Guardian or Form 60 declaration, as per Rule 114B.
NRE/NRO Bank Account (solo or joint) of the minor, in case the guardian is an NRI (Non-Resident Indian) or OCI (Overseas Citizen of India).
Contributions and Investment Choices
The NPS Vatsalya scheme allows for flexible contributions to the account:
Account Opening Contribution: A minimum of โน1,000 is required to open the account, with no upper limit.
Subsequent Contributions: A minimum of โน1,000 per annum is required, and there is no maximum limit on the amount that can be contributed.
Guardians have the flexibility to select from a variety of Pension Funds registered with the Pension Fund Regulatory and Development Authority (PFRDA) for managing the investments.
There are three key investment choices:
Default Choice: The Moderate Life Cycle Fund (LC-50), which allocates 50% of the investment to equity.
Auto Choice: Under the Auto Choice option, guardians can select from three Lifecycle Funds based on their risk tolerance. The Aggressive LC-75 allocates up to 75% of the investment in equity, suitable for those with a higher risk appetite. The Moderate LC-50 allocates 50% in equity, offering a balanced approach. For those seeking a more conservative strategy, the Conservative LC-25 allocates 25% in equity, minimizing risk while still providing growth potential.
Active Choice: Under the Active Choice option, guardians have full control over how they allocate funds across four asset classes. They can invest up to 75% in equity for higher growth potential, up to 100% in corporate debt for stability, up to 100% in government securities for safety, and up to 5% in alternate assets for diversification. This option allows guardians to tailor the investment strategy based on their financial goals and risk preferences.
Transition Upon Attaining Legal Adulthood (18 Years)
When the minor reaches the age of 18, the NPS Vatsalya account undergoes a seamless transition to the NPS Tier-I (All Citizen) model. As part of this process, a fresh KYC must be completed within three months from the date of turning 18. Once the account transitions, the features, benefits, and exit norms applicable under the NPS Tier-I All Citizen Model will come into effect, providing continued financial security and investment opportunities for the individual.
Conclusion
The National Pension System Vatsalya (NPS Vatsalya) scheme represents a significant stride towards fostering financial security and promoting a culture of savings from an early age. By introducing a specialized pension scheme for minors, the government aims to ensure that children develop disciplined saving habits and benefit from long-term wealth accumulation through compounding. With flexible contribution options and a range of investment choices, NPS Vatsalya offers guardians the ability to tailor their investment strategies according to their risk preferences and financial goals. As the account transitions seamlessly to the NPS Tier-I model upon the minor’s attainment of 18 years, it continues to provide robust financial security and investment opportunities. This initiative underscores the government’s commitment to enhancing financial planning and ensuring a dignified future for all citizens, setting a precedent for comprehensive financial well-being across generations.
CBDT notifies Rules and Forms for Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024
The Scheme to come into force with effect from 1st Oct. 2024
DTVSV Scheme provides for lesser settlement amounts for a โnew appellantโ in comparison to an โold appellantโ
In pursuance of the announcement in Union Budget 2024-25 by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, the Central Board of Direct Taxes (CBDT) has notified the Direct Tax Vivad Se Vishwas Scheme, 2024 (referred as DTVSV, 2024) to resolve pending appeals in the case of income tax disputes. The said Scheme shall come into force with effect from 1st Oct. 2024.
The DTVSV Scheme, 2024 was enacted vide Finance (No. 2) Act, 2024. Further, the Rules and Forms for enabling the Scheme have also been notified vide Notification No. 104/2024 in G.S.R 584(E) dated 20.09.2024.
The DTVSV Scheme provides for lesser settlement amounts for a โnew appellantโ in comparison to an โold appellantโ. The DTVSV Scheme also provides for lesser settlement amounts for taxpayers who file declaration on or before 31.12.2024 in comparison to those who file thereafter.
Four separate Forms have been notified for the purposes of the DTVSV Scheme. These are as under:
Form-1: Form for filing declaration and Undertaking by the declarant
Form-2: Form for Certificate to be issued by Designated Authority
Form-3: Form for Intimation of payment by the declarant
Form-4: Order for Full and Final Settlement of tax arrears by Designated Authority
The DTVSV Scheme also provides that Form-1 shall be filed separately for each dispute provided that where appellant and the income-tax authority, both have filed an appeal in respect of the same order, single Form-1 shall be filed in such a case.
The intimation of payment is to be made in Form-3 and is to be furnished to the Designated Authority alongwith proof of withdrawal of appeal, objection, application, writ petition, special leave petition, or claim.
Forms 1 and 3 shall be furnished electronically by the declarant. These Forms will be made available on the e-filing portal of Income Tax Department i.e. www.incometax.gov.in.
For detailed provisions of the DTVSV Scheme, 2024, section 88 to section 99 of the Finance (No. 2) Act, 2024 may be referred to alongwith Direct Tax Vivad Se Vishwas Rules, 2024.
This is another initiative by the Government towards litigation management.
