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IDA from Jan 2024 for 1987 and 1992 Pay Scales CPSE Employees – DPE ORDER

IDA from Jan 2024 for 1987 and 1992 Pay Scales CPSE Employees – DPE ORDER

F.No.W-02/0003/2014-DPE(WC)-GL-V/2024
Government of India
Ministry of Finance
Department of Public Enterprises

Public Enterprises Bhawan
Block 14, CGO Complex,
Lodi Road, New Delhi-110003
Dated: thc 11th January,2024

OFFICE MEMORANDUM

Subject:- Payment of DA to Board level/below Board level executives and non-unionized supervisors following IDA scales of pay in Central Public Sector Enterprises (CPSEs) on 1987 and 1992 basis.

The undersigned is directed to refer to Para No.4 of this Department’s O.M. No. 2(50)/86-DPE(WC) dated 19.07.1995 wherein the rates of DA payable to the executives holding Board level post have been indicated. In accordance with the DA scheme spelt out in Annexure-III of the said O.M, the installments of DA become payable from 1st January, 1st April, 1st July and 1st October, every year based on the price increase above quarterly Index average of 1099 (1960=100).

2. In continuation of this Department’s O.M. of even No. dated 06.10.2023, the rates of DA payable to the executives of CPSEs holding Board level post, below Board level post and Non-Unionized Supervisors following IDA pattern of 1992 pay scales may be modified as follows:-

Date from which payable: 01.01.2024

Average AICPI (1960=100) for the quarter September, 2023 to November, 2023 is 9094. The increase over the link point in percentage [(9094-1099)/ 1099*100] is 727.5%. DA Rates for various Pay Ranges w.e.f. 01.10.2024.

DA Rates for various Pay Ranges:

Basic Pay per Month DA Rates
Upto Rs.3500 727.5% of pay subject to minimum of Rs.16002/-
Above Rs.3500 and Upto Rs.6500 545.6% of pay subject to minimum of Rs.25480/-
Above Rs.6500 and Upto Rs.9500 436.5% of pay subject to minimum of Rs.35490/-
Above Rs.9500 363.7% of pay subject to minimum of Rs.41496/-


3. The payment on account of dearness allowance involving fractions of 50 paise and above may be rounded off to the next higher rupee and the fractions of less than 50 paise may be ignored.

4. The quantum of IDA payable from 01.01.2024 at the old system of neutralization @ Rs.2.00 per point shift for decrease of (-6) points, may be (-) Rs.12/- and at AICPI 9094, DA payable may be Rs. 16777.75 to the executives holding Board level post, below Board level post and non-unionized supervisors following IDA pattern in the CPSEs of 1987 pay scales.

Also Read: IDA from Jan 2024 for 2017 Pay Scales CPSE Employees – DPE ORDER

5. All administrative Ministries/Departments of 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.

6. This issues with the approval of the Competent Authority.

(Rajesh Puri)
Deputy Director

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IDA from Jan 2024 for 1997 Pay Scales CPSE Employees – DPE ORDER

IDA from Jan 2024 for 1997 Pay Scales CPSE Employees – DPE ORDER

No.W-02/0004/2014-DPE(WC)-GL-IV/2024
Government of India
Ministry of Finance
Department of Public Enterprises
***

Public Enterprises Bhawan
Block 14, CGO Complex,
Lodhi Road, New Delhi-110003
Dated: the 11th January, 2024

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. 01.01.1997 – Payment of IDA at revised rates – regarding.

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The undersigned is directed to refer to the new DA Scheme at Annexure-III of DPE’s OM dated 25.06.1999 wherein the rates of DA payable to the Board level and below Board level executives and non-unionized supervisors of CPSEs have been indicated. The rate of DA payable is 432.4% from 01.01.2024 to the executives and non-unionized supervisors of CPSEs.

2. The above rates of DA i.e. 432.4% would be applicable in the case of IDA employees who have been allowed revised pay scales (1997) as per DPE O.M. dated 25.06.1999.

Also Read: IDA from Jan 2024 for 2007 Pay Scales CPSE Employees – DPE ORDER

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.

(Rajesh Puri)
Deputy Director

To
All administrative Ministries/Departments of the Government of lndia.

Copy to:

1. The Chief Executives of Central Public Sector Enterprises.
2. Financial Advisers in the Administrative Ministries/Departments.
3. Department of Expenditure, E-ll Branch, North Block, New Delhi.
4. The Comptroller & Auditor General of India, 9 Deen Dayal Upadhayay Marg, New Delhi.
5 NIC, DPE with the request to upload this OM on the DPE website.

To
(Rajesh Puri)
Deputy Director

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IDA from Jan 2024 for 2007 Pay Scales CPSE Employees – DPE ORDER

IDA from Jan 2024 for 2007 Pay Scales CPSE Employees – DPE ORDER

No. W-02/0002/2014-DPE(VVC)-GL-III/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 11th January, 2024

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 – regarding.

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. The revised rate of DA payable to the executives and non-unionized supervisors of CPSEs w.e.f 01.01.2024 for 2007 pay scales is 215.4%.

2. The above rate of DA i.e. 215.4% 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.

Also Read: IDA from Jan 2024 for 2017 Pay Scales CPSE Employees – DPE ORDER

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.

(Rajesh Puri)
Deputy Director

To
All administrative Ministries/Departments of the Government of India.

Copy to:
1. The Chief Executives of Central Public Sector Enterprises.
2. Financial Advisers in the Administrative Ministries/Departments.
3. Department of Expenditure. Ell Branch, North Block, New Delhi.
4. The Comptroller & Auditor General of India, 9 Deen Dayal Upadhayay Marg, New Delhi.
5. NIC, DPE with the request to upload this OM on the DPE website.

(Rajesh Puri) Deputy Director

 

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IDA from Jan 2024 for 2017 Pay Scales CPSE Employees – DPE ORDER

IDA from Jan 2024 for 2017 Pay Scales CPSE Employees – DPE ORDER

No. W-02/0039/2017-DPE (WC)-GL-II/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 11th January, 2024

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 – regarding.

The undersigned is directed to refer to the 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. The revised rate of DA payable to the executives and non-unionized supervisors of CPSEs w.e.f. 01.01.2024 for 2017 Pay Scales is 43.7%.

2. The above rate of DA i.e. 43.7% 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.

(Rajesh Puri)
Deputy Director

To
All administrative Ministries/Departments of the Government of India.

Copy to:
1. The Chief Executives of Central Public Sector Enterprises.
2. Financial Advisers in the Administrative Ministries/Departments.
3. Department of Expenditure, E-II Branch, North Block, New Delhi.
4. The Comptroller & Auditor General of India, 9 Deen Dayal Upadhayay Marg, New Delhi.
5 NIC, DPE with the request to upload this OM on the DPE website.

(Rajesh Puri)
Deputy Director

 

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TN Pongal Bonus GO 2024 – Payment of Ad-hoc Bonus for 2022–2023

TN Pongal Bonus GO 2024 – Payment of Ad-hoc Bonus for 2022–2023

FINANCE [Allowances] DEPARTMENT
G.O.Ms.No.07, Dated: 5th January 2024.
(Margazhi-20, Thiruvalluvar Aandu 2054)

ABSTRACT

BONUS – Payment of Ad-hoc Bonus and Special Ad-hoc Bonus for the Accounting Year 2022–2023 – Sanction – Orders – Issued.

Government has decided to grant Adhoc Bonus to celebrate harvest festival “Pongal” equivalent to 30 days emoluments subject to a ceiling of Rs.3,000/- to all “C‟ and “D‟ Group regular and temporary Government employees, employees of Local Bodies and Aided Educational Institutions including teachers on regular time scales of pay and Special Adhoc Bonus of Rs.1000/- to full time and Part time employees paid from contingencies / employees paid from Special time scale of pay for the accounting year 2022-2023.

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Calculation of monthly contribution towards cost of Pension payable during foreign service for NPS and OPS Subscribers

Calculation of monthly contribution towards cost of Pension payable during foreign service for NPS and OPS Subscribers

No. 2/9/2017-Pers. Policy. Pay (Deputation/ Re-employment)
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel and Training
Pers. Policy Pay (Deputation/Re-employment)

North Block, New Delhi
Dated, the 1st January, 2024

OFFICE MEMORANDUM

Subject: Calculation of monthly contribution towards cost of Pension payable during foreign service – regarding.

****

The undersigned is directed to refer to this Department’s OM of even number dated 09.10.2020 prescribing the rates of monthly contribution towards cost of Pension payable during foreign service for employees covered under National Pension Scheme (NPS) and Old Pension Scheme in the 7th CPC context.

2. In Para 8 of the OM dated 09.10.2020 it was stated that modalities mechanism of payment of pension contribution during the active period of foreign service in respect of NPS subscribers would be issued later.

3. The matter was taken up with Department of Financial Services, the administrative Department in respect of the Pension Fund Regulatory and Development Authority (PFRDA), a statutory regulatory body for National Pension System.

4. Department of Financial Services have now informed as under:

a. Under the NPS architecture, in cases, where the government employee is on foreign service with PSUs/Autonomous bodies, there is an option at Central Record keeping Agency (CRA) level for re-tagging of such employees to the new organization, provided that the new organization is registered with the CRA under NPS. After re-tagging, the new organization can upload NPS contribution in CRA system.

b. However, where the new organization is not registered with CRA system the following measures may be adopted:

i. In order to avoid delays in uploading NPS contribution in the said case, the date of transfer of NPS contribution by the new organization/foreign office to the parent office may be mutually decided or preponed, so that the parent office receives the funds in time which can remitted to NPS system as per stipulated timelines; and’

ii. Alternatively, the parent office may have provision for remitting the NPS contribution in advance from their internal funds and later on adjust it from the funds received from new organization/ foreign office.

5. Department of Financial Services have advised that in case of any operational difficulty in implementing above discussed measures, in view of the terms of employment and the extant norms of both the concerned organizations with PFRDA or for any clarifications or advice, PFRDA may be consulted directly.

6. Other provisions of OM No. 2/9/2017-Estt. (Pay-II) dated 09.10.2020 will remain unchanged.

(Mahesh Kumar)
Under Secretary to the Government of India
Tele: 23040489

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Procedure to be followed by the Departmental Promotion Committee for retired employees: DOPT O.M

Procedure to be followed by the Departmental Promotion Committee for retired employees: DOPT O.M

F. No.22011/1/2023-PP (D-Promotion)
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel & Training
*****

North Block, New Delhi
Date : 11.12.2023

OFFICE MEMORANDUM

Subject : Procedure to be followed by the Departmental Promotion Committee with regard to retired employees – reg.

The undersigned is directed to refer to this Department’s O.M. No. 22011/4/2013-Estt.(D) dated 8.5.2017, which stipulates that Departmental Promotion Committee (DPC) is to be convened in advance and the steps, as per the Model Calendar, need to be completed so that the approved select panels are ready on the date of commencement of the vacancy year. Further, from 2019 onwards, a uniform calendar year wise vacancy year is being followed. Inspite of these instructions, this Department has been receiving references of inordinate delay in conduct of DPCs depriving officials the opportunity of promotion as by the time the DPC is held, some official(s) in the original zone of consideration, would have already retired from Government service. This Department has been impressing upon Ministries/Departments and Cadre Controlling Authorities, from time to time, to ensure strict compliance of these instructions.

2. Attention is also invited to Department of Expenditure’s O.M. No. 7(1)/E.Coord.I/2017 dated 12.4.2017 containing compendium of instructions on creation, revival, continuation and transfer of posts. Para 5.1 of that said OM dated 12.4.2017 states that all posts, except newly created posts, in a Ministry/Department or Attached/Subordinate Office or Statutory body, kept in abeyance or remaining vacant for more than two years shall be considered as ‘deemed abolished’ unless an exemption has been granted at the time of sanctioning of the post. These instructions further provide that a post falling under the category of ‘deemed abolished’ cannot be filled unless it has been got ‘revived’ from the Department of Expenditure.

3. Accordingly, in the context of the extant instructions contained in this Department’s D.M. No. 22011/4/2013-Estt.(D) dated 8.5.2017 read with relevant provision in Department of Expenditure’s D.M. No. 7(I)IE.Coord.I/2017 dated 12.4.2017 relating to ‘deemed abolished’ posts, the provisions of para ‘3’ of this Department’s D.M. No. 2201 1/4/98-Estt.(D) dated 12.10.1998 have been reviewed, in consultation with the Department of Expenditure and Department of Legal Affairs. It has now been decided to modify para ‘3’ of OM dated 12.10.1998 as follows:-

“3.1 Inspite of clear instructions, where DPCs could not be held as per the schedule prescribed in the Model Calendar, for whatever reasons, though vacancies arose in those year(s) and where the DPC meets at a later date to consider regular vacancies which arose in the earlier vacancy year(s), the DPC would, in terms of para 6.4.1 of this Department’s O.M. 22011/5/86-Estt. (D) dated 10.4.1989, continue to make year-wise panel for each of the vacancy years. Further, the DPC would, in such cases, continue to consider all eligible officials falling in the original zone of consideration as per the number of vacancies reported for that particular year, including those who have since retired as on the date of the DPC.

3.2 The DPC while recommending the panel for promotion for each vacancy year(s) would, however, not include names of any retired person(s) who are not in a position to assume charge of the promotional post as and when promotion orders are issued. The DPC would accordingly make a note in the minutes to this effect that they have considered to the extent required all those eligible for promotion, as per the original zone of consideration for that vacancy year, including those who have since retired, but are recommending the names of only those who are in the position to assume charge of the promotional post. It would neither be necessary to include the name of a retired person in the panel for the sake of completing the panel nor would it be in order to consider his/her junior against that vacancy in the relevant vacancy year. Resultantly, such vacancy for which the DPC did not recommend a name would be treated as an unfilled vacancy.

3.3 The vacancy so rendered unfilled would be carried forward to the next vacancy year and added to the vacancies of the next vacancy year. This process would be repeated for the next and subsequent vacancy years for which the DPC is being held together. Further, where a vacancy which remained unfilled in the original vacancy year (due to the reason stated in 3.2 above) and in two subsequent vacancy years to which this vacancy was carried forward to, the post would be treated as ‘deemed to have been abolished. Such a post can be filled up only after it has been got revived from the Department of Expenditure. Further, if the post is got ‘revived’ from the Department of Expenditure, the resultant vacancy shall be treated as a fresh `vacancy’ for the purpose of conducting DPC viz. vacancy pertaining to the year in which the post has been got revived.”

4. These instructions shall be applicable from vacancy year 2024 i.e. from 1.1.2024 onwards.

5. All Ministries/Departments are requested to bring these instructions to the notice of all concerned.

(A. Bhattacharya)
Deputy Secretary

To
All Ministries/Departments of the Government of India.

Copy to :- 1. President’s Secretariat/Vice President’s Secretariat/Prime Minister’s Office/ Supreme Court/Rajya Sabha Secretariat/Lok Sabha Secretariat/ Cabinet Secretariat /UPSC/ CVC/ C&AG/Central Administrative Tribunal (Principal Bench), New Delhi.

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DOPPW Important Order: Allowing Female Government Servants/Pensioner to nominate her child/children for family pension in Marital Discord Cases (Divorce/PWDVA/DPA/IPC) –

Allowing Female Government Servants / Pensioner to nominate her child / children for family pension in Marital Discord Cases (Divorce/PWDVA/DPA/IPC)

No.1/1(1)/2023-P&PW (E)
Government of India
Ministry of Personnel, Public Grievances and Pension
Department of Pension and Pensioners’ Welfare
***********

Lok Nayak Bhawan, Khan Market,
New Delhi, Dated the 1st January, 2024

Office Memorandum

Subject: Amendment to CCS (Pension) Rules, 2021 – Allowing female Government servants/female Pensioner to nominate her child/children for family pension in precedence to her husband in the event of marital discord leading to filing of divorce proceedings in a Court of Law or filing of a case under Protection of Women from Domestic Violence Act or Dowry Prohibition Act or Indian Penal Code- reg.

*********

The undersigned is directed to state that, as per the provisions of sub-rule (8) and sub-rule (9) of Rule 50 of CCS (Pension) Rules, 2021, if a deceased Government servant or pensioner is survived by a spouse, family pension is first granted to the spouse and the children and other family members become eligible for family pension, on their turn, only after the spouse of the deceased Government servant/pensioner becomes ineligible for family pension or dies.

2. This Department has been receiving a large number of references from Ministries/Departments, seeking advice as to whether a female Government servant/female Pensioner can be allowed to nominate her eligible child/children for family pension in place of her spouse in the event of marital discord leading to filing of divorce proceedings in a Court of Law or filing of a case under Protection of Women from Domestic Violence Act or Dowry Prohibition Act or under Indian Penal Code.

3. The matter has been examined in consultation with Ministry of Women and Child Development. Accordingly, it has been decided that in case divorce proceedings in respect of a female Government servant/female pensioner are pending in a Court of Law, or the female Government servant/female pensioner has filed a case against her husband under Protection of Women from Domestic Violence Act or Dowry Prohibition Act or under Indian Penal Code, such female Government servant/Female Pensioner may make a request for grant of family pension after her death to her eligible child/children, in precedence to her husband and such request may be considered in the following manner:

(a) Where, in respect of a female Government servant/female pensioner, divorce proceedings are pending in a competent Court of Law, or the female Government servant/female pensioner has filed a case against her husband under Protection of Women from Domestic Violence Act or Dowry Prohibition Act or under Indian Penal Code, the said female Government servant/female pensioner, may make a request in writing to the concerned Head of Office to the effect that, in the event of her death during the pendency of any of the aforesaid proceedings, family pension may be granted to her eligible child/children in precedence to her spouse;

(b) In the event of the death of the female Government servant/female pensioner, who had made a request under clause (a), during the pendency of any of the aforesaid proceedings, the family pension shall be disbursed in the following manner, namely:

(i) Where the deceased female Government servant/female pensioner is survived by a widower and no child/children is eligible for family pension on the date of death of the female Government servant/female pensioner, family pension shall be payable to the widower.

(ii) Where the deceased female Government servant/female pensioner is survived by a widower with a minor child/children or a child/children suffering from disorder or disability of mind including the mentally retarded, the family pension in respect of the deceased shall be payable to the widower, provided he is the guardian of such child/children and if the widower ceases to be the guardian of such child/children, such family pension shall be payable to the child through the person who is the actual guardian of such child/children. Where the minor child, after attaining the age of majority, remains eligible for family pension, the family pension shall become payable to such child from the date on which he/she attains the age of majority.

(iii) Where the deceased female Government servant/female pensioner is survived by a widower with a child/children who has/have attained the age of majority but is or are eligible for family pension, the family pension shall be payable to such child/children.

(iv) After the child/children referred to in clause (ii) and (iii) above cease to be eligible for family pension under Rule 50 of the CCS (Pension) Rules, 2021, family pension shall become payable to other child/children, if any, eligible for family pension.

(v) After all the children cease to be eligible for family pension under Rule 50 of the CCS (Pension) Rules, 2021, family pension shall become payable to the widower till his death or remarriage, whichever is earlier.

4. All Ministries/Departments are requested to bring the contents of this order to the notice of Controller of Accounts/Pay and Accounts Officers and Attached, Subordinate Offices and Autonomous bodies under them.

Also Read: Grant of Fixed Medical Allowance to Pensioners/Family Pensioners covered under National Pension System: DOPPW O.M 06.12.2023

5. In so far as the persons serving in the Indian Audit and Accounts Department are concerned, these orders are issued in consultation with Comptroller and Auditor General of India, as mandated under Article 148(5) of the Constitution of India.

6. Formal amendment to Rule 50 of the CCS (Pension) Rules, 2021 will be notified separately.

7. Hindi version will follow.

(Ravinder Kumar)
Director

To

1. All Central Government Ministries/Departments
2. Department of Expenditure, Ministry of Finance, North Block, New Delhi.
3. C&AG, Bhahadur Shah Zafar Marg, New Delhi.
4. Ministry of Railways, Railway Board, New Delhi.
5. CGA, Department of Expenditure, INA, New Delhi.
6. AD (OL) for Hindi version.
7. NIC for posting on the website of this Department.

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Dearness Relief in the 5th CPC series from July 2023 to CPF beneficiaries

Dearness Relief in the 5th CPC series from July 2023 to CPF beneficiaries in receipt of basic ex-gratia payment

No. 42/04/2023-P&PW (D)
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Pension & Pensioners’ Welfare

3rd Floor, Lok Nayak Bhavan,
Khan Market, New Delhi – 110003
Dated 28th December, 2023

OFFICE MEMORANDUM

Sub:- Grant of Dearness Relief in the 5th CPC series effective from 01.07.2023 to CPF beneficiaries in receipt of basic ex-gratia payment-reg

The undersigned is directed to refer to this Department’s OM 42/04/2023- P&PW(D) dated 06.07.2023 and to say that the President is pleased to decide that the Dearness Relief admissible to the CPF beneficiaries in receipt of basic ex-gratia payment in the 5th CPC series shall be enhanced w.e.f 01.07.2023 in the following manner :-

(i) The surviving CPF beneficiaries who have retired from service between the period 18.11.1960 and 31.12.1985, and are entitled to basic ex-gratia @ Rs.3000, Rs.1000, Rs.750 & Rs.650 for Group A. B, C & D respectively w.e.f 4th June,2013 vide OM No. 1/10/2012-P&PW(E) dtd. 27th June, 2013 shall now be entitled to enhanced Dearness Relief from 412% of the basic ex-gratia to 427% of the basic ex-gratia w.e.f 01.07.2023.

(ii) The following categories of CPF beneficiaries shall be entitled to enhanced Dearness Relief from 404% of the basic ex-gratia to 419% of the basic ex-gratia w.e.f 01.07.2023:-

(a) The widows and eligible dependent children of the deceased CPF beneficiary who had retired from service prior to 01.01.1986 or who had died while in service prior to 01.01.1986 and are entitled to revised ex-gratia @ Rs.645/-p.m w.e.f 04 June, 2013 vide OM No 1/10/2012-P&PW(E) dated 27th June,2013.

(b) Central Government employees who had retired on CPF benefits before 18.11.1960 and are in receipt of Ex-gratia payment of Rs. 654/-, Rs.659/-, Rs.703/- and Rs.965/-.

2. Payment of DR involving a fraction of a rupee shall be rounded off to the next higher rupee.

3. It will be the responsibility of the pension disbursing authorities, including the nationalized banks, etc. to calculate the quantum of DR payable in each individual case.

4. In so far as the persons serving in Indian Audit and Accounts Department are concerned, these orders are issued in consultation with the Comptroller and Auditor General of India, as mandated under Article 148(5) of the Constitution of India.

5. This issues in pursuance of Ministry of Finance. Department of Expenditure’s OM No. 1/3(2)/2008-E.II(B) dated 06th Nov, 2023.

6. Hindi version will follow.

(Ravinder Kumar)
Director

  1. All Ministries/Departments of the Government of India (as per standard distribution list).
  2. Chief Secretaries and AGs of all States/UTs.
  3. CMDs/CPPCs of all authorised Pension Disbursing Banks
  4. C&AG of India, UPSC, etc. as per standard endorsement list.
  5. Reserve Bank of India (RBI) for Information.

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Small Savings Schemes Interest Rates from January 2024 to March 2024

Small Savings Schemes Interest Rates from January 2024 to March 2024

F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

North Block, New Delhi
Dated: 29.12.2023

OFFICE MEMORANDUM

Subject: Revision of Interest Rates for Small Savings Schemes – reg.

The rates of interest on various Small Savings Schemes for the fourth quarter of financial year 2023-24 starting from 1st January, 2024 and ending on 31st March, 2024 have been revised as detailed below:

Instrument Rates of interest from 01.10.2023 to 31.12.2023 Rates of interest from 01.01.2024 to 31.03.2024
Savings Deposit 4.0 4.0
1 Year Time Deposit 6.9 6.9
2 Year Time Deposit 7.0 7.0
3 Year Time Deposit 7.0 7.1
4 Year Time Deposit 7.5 7.5
5 Year Recurring Deposit 6.7 6.7
Senior Citizen Savings Scheme 8.2 8.2
Monthly Income Account Scheme 7.4 7.4
National Savings Certificate 7.7 7.7
Public Provident Fund Scheme 7.1 7.1
Kisan Vikas Patra 7.5 (will mature in 115 months) 7.5 (will mature in 115 months)
Sukanya Samriddhi Account Scheme 8.0 8.2

2. This has the approval of competent authority.

(Kapil Patidar)
Deputy Secretary (Budget)

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