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Friday, February 15, 2019

Guaranteed Pension under NPS: PFRDA

B-14/A, Chhatrapati Shivaji Bhawan, Qutab Institutional Area, 
Katwaria Sarai, New Delhi-110016
File No. PFRDA/16/3/29/0081/2017-REG-PF
Date: 13th February,2019

Shri C.SriKumar
General Secretary
All India Defence Employee’s Federation
S.M.Joshi Bhavan,Survey No.81,
Dr.Babasaheb Ambedkar Road,
Khadki, Pune – 411 003
Subject: Guaranteed Pension to the Central Government Employees governed under NPS – reg.
Dear Sir,

We refer to your letter No.94/1094/NPS/AIDEF/19 dated 1st February,2019 regarding subject mentioned above.

2. In this regard, we inform that the Authority is in process of designing a scheme providing minimum assured returns to the NPS subscribers in terms of Pension Fund Regulatory and Development Authority Act,2013, in consultation with the Pension Funds Actuaries and Financial Sector Regulators. The Proposal is under active deliberation and being workout in best possible way. It is proposed that the final proposal would be put up for stakeholder consultation in our website once the same is ready and feedback would be received from all concerned before finalizing the proposal.

3. The Authority would notify such minimum assured scheme once finalized with the approval of the Government.

This is for your information.

Yours sincerely,

(Venkateswarlu Peri)
Chief General Manager

Tuesday, February 12, 2019

Com S K Vyasji remembrance day

Com  S K Vyasji, veteran leader of the Central Government Employees and Pensioners.   He passed away on February 13th  2015 at Jaipur , His remembrance day is celebrated  on 13th Feb 2019 at  6.30 pm, union office located at ground floor GPO  Bangalore . All comrades are requested to attend the meeting to pay homage to him. 

Com SK Vyasji became the general secretary of Rajasthan unit of the All India Audit and Accounts Employees Association and shifted to Jaipur. He was also the auditor of the All India Association from 1958 to 1967.
He became the additional secretary general of the All India Association in 1967 and shifted to Delhi. In 1971, he was elected as the secretary general of the All India Audit and Accounts Employees Association. He continued as SG till 1981 and then as president till 1989. The leaders of the A&A Association office bearers, including Comrades EX Joseph, Vyas and others had to face severe harassment and victimisation at the hands of the administration. Com EX Joseph was dismissed from service.
Com SK Vyas was elected as the secretary general of the Confederation of Central Government Employees and Workers in August 1968, in the vacancy created by the resignation of Com OP Gupta. He continued in that post till 2006 after which he functioned as chairman of the Confederation.  He led the central government employees movement for more than four decades. His name became synonymous with the Confederation. He was the main leader who negotiated with the four Central Pay Commissions from III CPC to VI CPC. His contribution in finalising the memorandum to the VII CPC is also much appreciated.
These were periods of struggle, victimization, disruption by revisionists, against unity and so on – a tumultuous period. The historic strikes of 1968, 1974, the sustained struggles against neo-liberal policies in the 1990s and 2000s – all are part of this period. It is a matter of pride that the secretary generals of Confederation after Com Vyas – Comrades KKN Kutty and M Krishnan – have followed his footsteps and strengthened the CGE movement.
During this period, Vyasji functioned as staff side member of National Council of CG Employees and contributed much for settlement of demands. He continued as a senior advisor to Confederation of CG Employees & Workers later. He was also a staff side member of SCOVA, the official negotiating forum of pensioners.
For the past few years, in addition to the issues of the CG Employees, Com Vyas was fully engaged with the organisations of the pensioners. The formation of the National Co-ordination Committee of Pensioners Association (NCCPA) was at his initiative. He was elected as its first secretary general. Consequent to the resignation of Com Shyam Sunder from the post of SG BCPC, Com Vyas was elected to the post of secretary general of Bharat Central Pensioners Confederation, which is the umbrella organisation of the CGE pensioners’ organisations.

During the presentation of pensioners issues before the VII Central Pay Commission on behalf of Confederation & BCPC, I have seen how clearly and strongly Com Vyas was presenting the demands. He was respected by all for his sincere and dedicated service to the workers and his simple and all-friendly life.

Friday, February 1, 2019

Budget 2019 highlights for Working class.

Individual taxpayers with annual income of upto Rs 5 lakh are expected to get full tax rebate.

Those with gross income up to Rs 6.5 lakh will be exempted from tax payment, invest Rs 1.5 lakh under section 80C in any of the eligible tax saving avenues of PPF, EPF etc or use tuition fees paid for children to claim a deduction of the same amount from the gross total income. 

TDS threshold limit has been proposed to be hiked to Rs 40,000 from the current of Rs 10,000. 

There have been no changes proposed in the income tax slabs and rates in Budget 2019. 

Income up to Rs 2.5 lakh is exempt from tax. Five per cent tax is levied on income between Rs 250,001 to Rs 5 lakh; 20 per cent tax on income between Rs 500,001 and Rs 10 lakh and 30 per cent tax on income above Rs 10 lakh.

TDS threshold for deduction of tax on rent is proposed to be increased from Rs 1,80,000 to Rs 2,40,000/- 

Increase the tax-free gratuity limit from existing Rs 10 lakhs to Rs 30 lakh from the next fiscal. 

Anganwadi and Asha Yojana honorarium has been enhanced by about 50% for all categories of workers.

The ceiling of ESI's eligibility cover has been increased from  Rs 15,000 pm to Rs  21,000 pm.  

'Pradhan Mantri Shram-Yogi Maandhan' for the unorganised sector workers with monthly income upto Rs 15,000.

This pension yojana shall provide them an assured monthly pension of  Rs 3,000 from the age of 60 years on a monthly contribution. An unorganised sector worker joining pension yojana at the age of 29 years will have to contribute only  Rs 100 per month till the age of 60 years. A worker joining the pension yojana at 18 years, will have to contribute as Rs 55 per monthThe Government will deposit equal matching share in the pension account of the worker every month.


CPI and DA as on December 2018

The All-India CPI-IW for December  , 2018  reduced by  one point  stands at 301   (three hundred and one) points. 

DA as on December   2018 is 12.79%.

Hence DA from January  2019 is 3%.