CLARIFICATORY ORDERS BY DOPT ON CHILDREN EDUCATION ALLOWANCE
DOPT has issued some clarificatory orders on the matter of grant of CEA to Government Employees. The Government has now clarified to the question as to whether the CEA is admissible beyond two children if the sterilization operation fails that 'the Children Education Allowance is permissible only for the first child born after the failure of sterilization operation.
The same Orders also clarifies that the frontloading of full quantum of 15,000/- cannot be reimbursed if claimed during the first and second quarter of the year. It says that only 50% of the CEA can be reimbursed during the first quarter and the balance eligible shall be paid only in the third or fourth quarter.
The full text of the DOPT Orders can be downloaded from the website of DOPT or by clicking the Link Below:
PARLIAMENTARY PANEL RECOMMENDS HIKE IN THE RATE OF GPF
Hike rate of return on GPF, panel advises govt
Press Trust of India / New Delhi August 02, 2011, 19:32 IST
Dear Comrades! you are aware that the Confederation has been demanding for the enhancement of the interest rate on the GPF of Central Government Employees and this had been one of the demands of the CG Employees Charter. Now according to the PTI, a Parliamentary Panel headed by the former Finance Minister Sri. Yashwant Sinha has recommened hike to the GPF interest rates. We are reproducing the news item [courtsy: Central Government Employees News]:
A Parliamentary panel today asked the Central government to increase the rate of return on provident fund for its employees in the light of rising bank rates and EPFO's decision to hike its rate to 9.5% for 2010-11.
"The rate of interest on General Provident Fund (GPF) which is pegged at 8% may be reviewed so that government employees are not put to any disadvantage more so now when the interest rates for bank deposits has also been raised," the Standing Committee on Finance suggested in its report.
If the suggests of the panel finds favour from the government, over 50 lakh Centre's employees will stand to benifit.
The panel headed by former Finance Minister Yashwant Sinha, pointed out that retirement fund body Employees Provident Fund Organiation has also increased rate of interest on PF deposits to 9.5% for 2010-11 from 8%.
The EPFO had been paying 8.5% interest on PF deposits since 2005-06. In September last year, it had recommended an increase in interest rate to 9.5% for 2010-11 after discovering Rs 1,731 crore surplus in their books of accounts.
In the present scenario, the bank rates are also increasing. Reserve Bank of India has increased its short term lending and borrowing rates by half a percentage point to 8 and 7%, respectively in its recent quarterly review unveiled on July 26.
Following the central bank's rate hike, some private and public sector have also hiked their rates.