Founder Member of this blogspot PSD Nashik:- Honble. CPMG Maharashtra Circle Col.K.C. Mishra (VSM), Hon Ex. PMG AGD, T. Murti Sir, Honble. PMG Aurangabad Shri. M.E. Haque, Honble DPS HQ Mumbai Dr. Vinod Kumar, Honble DPS Aurangabad V. Ramulu, Supdt PSD Nashik Shri. M.S.Ahirrao, Sys Admn Shri. N.R.Pandav.

 

Wednesday, 29 April 2015

FAQ on Children Education Allowance, OTA / NDA, Honorarium/Fee, Leave – Dopt Order April 2015

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FAQ on Children Education Allowance, OTA/NDA, Honorarium/Fee, Leave. G.I., Dep. of Pers. & Trg., O.M.No.I-11020/1/2014-Estt.(AL), dated 28.4.2015

Establishment (Allowance) Section

SI.No. Question Answer

Children Education Allowance

1. Whether reimbursement of Children Education Allowance is admissible for the:
(a) Nursery/LKG/UKG as there is no provision of recognition of these classes in most of the States/UTs;
Reimbursement is permissible only if the child is studying in a recognised educational institution.


(b) Third child if either of the first two children is disabled to the extent that he/she cannot go to school;
Reimbursement is allowed to only the two eldest surviving children of the Government servant except when the 2nd child birth results in multiple births or the 3`d child is born due to failure of sterilization operation.

(c) The children borne out of second marriage or the children of second wife/husband in additions to children from first marriage;
Reimbursement is allowed to only the two eldest surviving children of the Government servant.

(d)  Entitlement of number of Note Books.
Reimbursement is permissible for any number of note books as may be prescribed by the recognised educational institution.

OTA/NDA

2. The reasons for not enhancing rates of OTA/NDA
The 5th and the 6th Central pay Commission did not recommend enhancement of rates of OTA/NDA.

Honorarium/Fee

3.  Whether honorarium is payable to the Chairperson/Members of the DPC and also such other Departmental Committees, viz., Committee on Sexual Harassments at work place, etc.?
In terms of the provisions of FR 46 (b), the Central Government may grant or permit a Government servant to receive an honorarium as remuneration for work performed which is occasional or intermittent in character and either so laborious or of such special merit as to justify a special reward. Except when special reasons, which should be  recorded in writing, exist for a departure from this provision, sanction to the grant or acceptance of an honorarium should not be given unless the work has been undertaken with the prior consent of the Central Government and its account has been settled in advance.

Guidelines for payment of Honorarium under FR 46 (b) have already been laid down inter alia vide this Department’s OM No.17011/9/85- Estt. (AL), dated 23.12.1985 and OM No. 17020/1/91- Estt. (AL), dated 18.11 .1991. It has also been clarified that no honorarium should be granted for temporary increases in work.

4. Whether retention of “Fee” for delivering lectures in Government/private bodies is permissible? As per para 6 of DoP&T’s O.M.No. I 6013/1/79-Estt.(AL) dated 11th February, 1980, payments received by Government servants as income from books, articles, papers and lectures on literary, cultural, artistic, technological and scientific subjects including management sciences; will not be subject to crediting one-third of the amount to the general revenues.

Establishment (Leave) Section:

5. Whether male Government servant, who is single parent, can be allowed Child Care Leave? No. CCL can be granted to female employees only.

6.  Whether Bond on Study Leave can be transferred from Central Government to State Government?
No. Bond executed by the Government servant while proceeding on study leave cannot be transferred on his/her appointment in State Government/PSU/Autonomous bodies.

7.  What is the limit of leave encashment while availing LTC by dependents or spouse within the same block year?
The Government Servants governed by the CSS (Leave) Rules, 1972 and entitled to avail LTC may en-cash earned leave up to 10 days at the time of availing both types of LTCs., i.e., `Hometown’ and `Anywhere in India’. However, when the one and the same LTC is being availed of by the Government Servant and his family members separately in a block year, encashment of leave would be restricted to one occasion only.

Source : DOPT 
[ http://ccis.nic.in/WriteReadData/CircularPortal/D2/D02est/I-11020_1_2014-Estt.AL-28042015.pdf ]
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Wednesday, 22 April 2015

POSB LATEST INTEREST CALCULATOR REVISED INTEREST 01.04.2015

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POSB Interest Calculator Dated 15.04.2015


Interest Calculator : Download
Features Updated On 15/04/2015:

New Interest rates w.e.f. 01/04/2015 configured for SCSS Account. Maturity amount for old accounts also can be viewed by entering Date of opening in Home page.

KVP (new) option is included in home page of Interest calculator. Discharge value of KVP (old) can be viewed in another link provided in bottom of Calculator table.

SSA Approximate maturity calculation - link is added in the Main page of Calculator (at right bottom of calculator)

"Print Tables/Forms" link is provided in Main calculator page to Print Ready reckoner tables for RD/TD/MIS and Pamphlet, Forms. In "Print Tables/Forms" link, updated pamphlet is provided in PDF format incorporating new KVP, SSA.

Changes have been made in MIS to RD (auto credit option) maturity calculation, so as to see it after 31.03.2015 also.
In RD PMC Calculator available in "view more" link of RD, financial year 2015-16 has been included.

Source :https://sites.google.com/site/posbinterestcalculator/
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Thursday, 16 April 2015

Department of Posts DA Order

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Tuesday, 14 April 2015

How to reap big benefits from small saving schemes

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The interest rates of small saving schemes are linked to the yield of government bonds and revised every year. ET gives a ready reckoner of the current rates and features of these schemes.

POST OFFICE MONTHLY INCOME SCHEME

Interest rate offered: 8.4%

Lock-in period: Five years. Premature encashment allowed after one year, with deductions.

Tax benefits: None

Investment limit: Rs 1,500 to Rs 4.5 lakh in a single account and Rs 9 lakh in a joint account.

Pros: Suitable for those looking for a secure monthly income. Senior citizens can park a portion of their investments in this scheme.

Cons: Long lock-in period. Unlike bank FDs, this does not offer senior citizens a preferential rate of interest.


KISAN VIKAS PATRA*

Interest rate offered: 8.7%

Lock-in period: 100 months. Premature withdrawal two and a half years.

Tax benefits: None

Investment limit: Minimim Rs 1,000 and no maximum cap. Investments have to be made in denominations of Rs 1,000, Rs 5,000, Rs 10,000 and Rs 50,000.

Pros: An attractive and secure interest rate. Can be encashed after two and a half years. Transfer of instrument is permitted.

Cons: Interest earned is taxable, eating into post-tax returns. Other more remunerative instruments have an upper hand.


PUBLIC PROVIDENT FUND*

Interest rate offered: 8.7%

Lock-in period: 15 years. Partial withdrawals allowed from the seventh financial year. Loans can be sought from the third financial year.

Tax benefits: Deductions under Sec 80C for investments up to Rs 1.5 lakh.

Investment limit : Rs 500 to Rs 1.5 lakh.

Pros: Attractive, guaranteed and taxfree returns. The instrument is exempt from tax at investment, accumulation and maturity stages (EEE).

Cons: Largely illiquid due to the long lock-in tenure. Will not help meet short-term needs.

10-YEAR NATIONAL SAVINGS CERTIFICATE


Interest rate offered: 8.8%

Lock-in period: 10 years

Tax benefits: Deductions up to Rs 1.5 lakh under Section 80C.

Investment limit: Minimum Rs 100. No maximum limit. Investments have to be made in denominations of Rs 100, Rs 500, Rs 1,000, Rs 5,000 and Rs 10,000.

Pros: Easy to purchase and understand. Offers assured returns with tax benefits.

Cons: Interest earned is subject to tax on maturity. For senior citizens, not as lucrative as taxsaver bank fixed deposits.


SENIOR CITIZENS SAVINGS SCHEME*

Interest rate offered: 9.3%

Lock-in period: Five years. Premature closure allowed after one year and two years on deduction of 1.5% and 1% respectively of the deposit. Interest is paid out every quarter, offering liquidity during the lock-in period.

Tax benefits: Deduction under Section 80C for investments up to Rs 1.5 lakh.

Investment limit : Rs 1,000 to Rs 15 lakh.

Pros: High, secure returns, with partial liquidity.

Cons: Locking away huge amounts could deprive senior citizens of funds for medical and other emergencies in the interim.


5 YEAR NATIONAL SAVINGS CERTIFICATE

Interest rate offered: 8.5%

Lock-in period: Five years

Tax benefits: Deductions up to Rs 1.5 lakh under Sec 80C.

Investment limit: Minimum Rs 100. No maximum limit. Investments have to be made in denominations of Rs 100, Rs 500, Rs 1,000, Rs 5,000 and Rs 10,000.

Pros: Easy to purchase and understand. Offers assured returns with tax benefits.

Cons: Interest earned is subject to tax on maturity. For senior citizens, not as lucrative as tax-saver fixed deposits from banks.


SUKANYA SAMRIDDHI YOJANA*

Interest rate offered: 9.2%

Lock-in period: Till the girl child turns 21. Partial withdrawal of up to 50% of the balance (as on last date of the preceding financial year) allowed after the girl turns 18 years old. Premature withdrawal of the entire balance permitted upon marriage of the girl after she turns 18.

Tax benefits: Deduction under Section 80C for investment up to Rs 1.5 lakh.

Investment limit : Rs 1,000 to Rs 1.5 lakh.

Pros: Offers high, tax-free and guaranteed returns. Ideal scheme for parents looking to build a corpus for the education of their girl child under 10.

Cons: Lengthy lock-in period. More illiquid than PPF.


FIVE-YEAR POST OFFICE TIME DEPOSITS#

Interest rate offered: 8.5%

Lock-in period: Five years

Tax benefits: Deduction up to Rs 1.5 lakh under Section 80C.

Investment limit : Minimum Rs 200. No maximum limit. Further investments have to be made in multiples of Rs 200.

Pros: Easy to understand, operate and invest in. Tax concessions.

Cons: Returns earned are taxable. Senior citizens can earn higher returns (9-9.25%) by investing in tax-saver FDs


*Apart from post offices, some banks also facilitate investments in these instruments

# You can also invest in five-year recurring deposits (8.4%) or fixed deposits with shorter tenures of between one to four years (8.4%). However, deposits with these tenures won't entitle you to tax benefits



Source :The Economic Times
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Sunday, 12 April 2015

D.A. ORDER RELEASED BY FINANCE MINISTRY ON 10.04.2015

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Click here for down load DA order released by Finance Ministry

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Tuesday, 7 April 2015

Toll Free Number, Website & Face Book page launched by Mumbai Region for Sukanya Account Campaign.

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Mumbai postal Region launched a Website, Face book Page & a Toll Free Number for Sukanya Samriddhi Account Campaign.

Reach SSA Mumbai Postal Region @:


Face book Page:


Website address:


Toll Free Number:     1800 22 3060
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Release of additional installment of Dearness Allowance to Central Government employees and Dearness Relief to Pensioners, due from 1.1.2015

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First ATM of India Post

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Union Minister for Communications and IT Shri Ravi Shankar Prasad on April 2, inaugurated the first ATM at Department of Posts, in General Post Office premises, Bangalore. It is the first an ATM will go live in Karnataka Postal Circle.

Speaking on the occasion, Minister Ravi Shankar Prasad said the need of the hour was for the Department of Posts to think a little out of box. “The Department of Posts should be ready to meet the three benchmarks – ensuring delivery of letters (post), money orders and parcels on time. It has to utilise its wide network for better performance and revenue,’’ Prasad said.

Praising MS Ramanujam, chief post master general, for taking measures to provide an ATM and other services in Karnataka Postal Circle, the minister said that the Department of Posts should make an attempt to increase revenue. “You have done a good job of associating with Department of Tourism which has agreed to find a sponsor for maintaining the heritage building of Postal Department on Museum Road,’’ he said.

  • The following are features of the ATM service:
  • The Department of Posts will issue ATM cards free of cost
  • Card holders can transact from any DOP ATMs in the country
  • Instant ATM cards will be issued at the Post Offices
  • Personalised cards will be issued within 15 to 20 days
  • The ATM will function from 8 am to 8 pm
  • The service will be available only for post office account holders
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Saturday, 4 April 2015

GOVERNMENT ANNOUNCES INTEREST RATES FOR VARIOUS SMALL SAVINGS SCHEMES; RATES TO COME INTO FORCE WITH EFFECT FROM 01-04-2015

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It was decided by the Government of India that interest rates on Small savings Schemes will be linked to yields on government securities of comparable maturity. In pursuance of that decision, the Government has decided to revise the rates applicable on various small savings schemes as given in the table below.
     Scheme
Rate of interest
w.e.f.01.04.2014
Rate of Interest
w.e.f. 01.04.2015
(1)
(2)
(3)
 Savings Deposit
4.0
4.0
 1 Year Time Deposit
8.4
8.4
 2 Year Time Deposit
8.4
8.4
 3 Year Time Deposit
8.4
8.4
 5 Year Time Deposit
8.5
8.5
 5 Year Recurring Deposit
8.4
8.4
 5 Year SCSS
9.2
9.3
 5 Year MIS
8.4
8.4
 5 Year NSC
8.5
8.5
 10 Year NSC
8.8
8.8
 PPF
8.7
8.7
Kisan Vikas Patra
8.7
8.7
Sukanya Samriddhi Account Scheme
9.1
9.2
The above rates will be effective from tomorrow i.e. 1.4.2015.
Thus the rates on many of the small savings scheme have undergone an upwards revision vis-à-vis 2014-15.

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Tuesday, 24 February 2015

Small Savings Scheme at a glance

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