Sub: Final
Meeting with Seventh Central Pay Commission — June 9. 2015 -reg.
Responding to the invitation received from the Vllth CPC,
the JCM (Staff Side) delegation met the Pay Commission this day 09th June 2015
and deliberated again in detail on the following issues:-
(a) Minimum wage (15th ILC norms/Dr. Achroyed Formula for
determining minimum wage as proposed in the JCM Staff Side Memorandum),
(b) Rate of increment.
(c) Fitmen Formula,
(d) Qualification related Pay
Scales,
(e) Pay parity for common
categories.
(I) Date of effect of revised
Pay Structure and allowances etc.
,(g) Upward revision of
Ex-gratia to the families of employees killed in the course of performing
duties,
(h) Parity in pension for
eliminating the discrimination,
(i) Rectification of MACPS
aberrations,
(j) Grant of increment to those
retiring on 30th June and 31st December of the year.
Various other issues were also discussed with the VII CPC
today. While the response of the Pay Commission by and large has been
satisfactory on many points mentioned above, the revised pay
structure/allowances is likely to be recommended to be given effect from
January 1st, 2016. With today’s discussions in the final meeting with VII
CPC, the deliberations by the JCM Staff Side got concluded.
It is expected that the VIIth CPC would submit its report
to the Government by the end of August 2015
PREMATURE PROVIDENT FUND WITHDRAWAL – INCOME TAX WILL BE IMPOSED
Income Tax for Premature Provident Fund withdrawal of more than
Rs.30,000
The Government has announced that
income tax will be imposed if, at the time of premature withdrawal, the
Provident Fund amount is in excess of Rs.30,000.
“Taxes will be imposed if, at the
time of closing or transferring the PF account, the amount is in excess of
Rs.30,000, and, if the employee has been employed in the current job for less
than five years. Tax rebates are applicable. In order to claim tax exemption,
the person has to submit a copy of his/her PAN card and Forms 15G and 15H,
accompanied by a signed and filled up Form 19.
“Failing to do so will attract
maximum taxes of up to 34.61%. If the forms are submitted, only 10% taxes will
be deducted. Taxes will not be imposed if an old PF account is being converted
to a new PF account. If the employee has served for more than five years, then,
at the time of closing his account, no taxes will be imposed.
“The PF amount will also not be
taxed if the employee is unwell, if the company has closed down, if the
employment contract comes to an end, or if the employee loses employment for
reasons that cannot be attributed to him/her.”
Source: CGEN.in
JAMMU AND KASHMIR (RELAXATION OF UPPER AGE
LIMIT FOR RECRUITMENT TO CENTRAL CIVIL SERVICES AND POSTS) AMENDMENT RULES,
2014. (Click the link below for details)
