Saturday, February 25, 2017

If this happens Bank Employees will also get  this benefit.

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Gratuity payment ceiling to double to Rs20 lakh

New Delhi: The central government Thursday agreed to allow millions of organised sector employees to withdraw up to Rs20 lakh from their gratuity corpus, double the amount permitted now.

Currently, even if a worker accumulates more than Rs10 lakh as gratuity contribution, he or she is allowed to withdraw only Rs10 lakh.

The agreement came following a meeting between the labour ministry and representatives from states, employees and employers on Thursday.

“All the stakeholders—states, Centre, unions and the industry representatives were on the same page to enhance the gratuity ceiling from Rs10 lakh to Rs20 lakh,” a labour ministry spokesperson said after the meeting.

This follows the 7th Pay Commission report allowing government employees to withdraw up to Rs 20 lakh gratuity, which left out a significantly bigger number of private sector employees. The labour ministry will now bring a formal amendment to the Payment of Gratuity Act to implement the change.

All companies and establishments deploying 10 or more workers comes under the Gratuity Act. Gratuity is calculated as: Last drawn salary × 15/26 × number of years of service. Salary means basic pay plus dearness allowance; 15/26 means 15 working days’ pay of the 26 days of pay.

“It was logical that we extend the ceiling to Rs20 lakh and the labour ministry did not have any objection today,” said Virjesh Upadhyay, general secretary of the Bharatiya Mazdoor Sangh, a trade union affiliated to the Bharatiya Janata Party.

D.L. Sachdeva, national secretary of the All India Trade Union Congress (AITUC) who attended the meeting, said that besides the ceiling hike, labour minister Bandaru Dattatreya agreed to “consider reducing the five years’ gratuity payment rule”.

  Currently, an employee with at least five years of continuous service is eligible to get gratuity, which forms part of the overall salary package of an employee, but not paid monthly.

Thursday, February 2, 2017

Tall claims !!
Income Tax slab rate reduced from
10% to 5% , For income upto Rs.500000!
Tax payer will be benefited by Rs.12500!

Is it true?

But, media / news papers does not highlight one change.
Yes, Tax rebate of Rs.5000 for income upto Rs.500000 available till last year is changed.
Now it is reduced to Rs.2500 and that too upto income of Rs.350000.

Giving benefit by one hand and take away the existing benefit by the other hand!
What an ideaji?

Pl. Read the examples compiled by me .
Those who are under income of Rs. 500000 are not benefited anything.

But, those who are having income of above Rs.500000 are fully benefitted by
Rs.12500.

This Government is for whom?




Tuesday, January 31, 2017

DA payable to employees for the Quarter Feb. to April 2017 shall be 469 slabs i.e. a decrease of 9 slabs from the current level .

For Pensioners :
Increase of 14 slabs.
Strike on 07.02.2017 called by AIBEA, AIBOA & BEFI deferred.

Fresh strike call called by UFBU
On 28.02.2017

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Details of Decision by UFBU :

On Tuesday, 31 January 2017 5:18 PM,

PRADIP BISWAS, General Secretary, Bank Employees Federation of India.

Dear Comrades,

Today UFBU meeting was held in Delhi.

UFBU felt the need for launching agitational programme including strike in view of the developments that are taking place  in the industry and Government,   Iba's  lukewarm attitude towards employees and officers' pending issues.

After threadbare discussions, ufbu decided to give a countrywide strike call in all Banks on 28th February, 2017  against banking sector reforms, on recovery of NPA, demonetisation related problems and on other pending issues of employees and officers.

NOBW and NOBO asked for some time to tell their views on participation in strike on 28th Feb.

Nine General Secretaries / one representative from each organisation will meet on 5th Feb in Mumbai to fine tune the issues and demands of the strike and prepare the strike notice.

In view of this development strike call given by BEFI AIBEA AIBOA and all related programme stands withdrawn.

Pradip  Biswas
Camp: Delhi