Tuesday, 22 December 2015
Is attendance compulsory for Central Government employees on the implementation day (01.01.2016) of the 7th CPC recommendations?
Is attendance compulsory for Central Government employees on the implementation day (01.01.2016) of the 7th Pay Commission recommendations?
Central Government employees are wondering if there will be any consequences of taking leave on January 1, 2016, the date of implementation of the 7th Pay Commission report.
The recommendations of the 7th Pay Commission regarding the salaries and perks for the Central Government employees will come into effect from January 1, 2016 onwards. Many are curious to find out the connection between the date of implementation of 7th CPC and reporting to work on the day.
Normally, the date of joining work, date of getting the promotion, date of receiving the increments, transfer date, and retirement dates are very important for a Central Government employee. In the average service period of a Central Government employee, he/she is likely to witness two or three Pay Commissions. Keeping this in mind, it would be better to not absent oneself on January 1, 2016.
“All Central Government employees are advised to report to work on January 1, 2016 (Friday).”
“This is especially so for those who are on long leave. It will help them avoid a lot of problems in future.”
“If 01.01.2016 is announced as a holiday, it will be better to report to work the next day.”
If the recommendations of the 7th Pay Commission are going to be implemented from 01.01.2016 onwards, then the employees will have to come to work that day to accept these recommendations. If he/she is absent on the day, then the day they return to work will be treated as the day they had accepted the new recommendations.
If an employee not to report on the date of implementation of recommendations of new pay commission, this could delay the benefits of the 7th Pay Commission. This could also cause financial losses too due to pay revision as per the recommendations of new pay commission.
According to rules, in order to qualify for the annual increment, an employee has completed 6 months or more in the revised pay structure as per 6th CPC, as on 1st July. A delay of even a single day could deny you an increment, as per the rule.
It is not easy to calculate the date of promotion for Central Government employees. Normally, promotions are granted with retrospective effect. Let us assume that the promotion was given with effect from 01.01.2016. Not reporting to work on that day could cause a number of problems.
Since the government rules are bound to be changed arbitrarily, one can never be sure of the kind of troubles it could cause them. Therefore, it is better to go to work on 01.01.2016.
The recommendations of the 6th Pay Commission were implemented on 01.01.2006, a Sunday. Therefore, the next day was taken as the assumption date. One might remember that the government had issued another order to avoid the confusions that resulted due to this. (Click to view the order)
Even those who are on long leave for any particular reason are advised to report to work on January 1, 2016 at least and then continue with their leave. This will help them avoid a lot of problem
DNS Flushing technique to boost up DOP Finacle/McCamish speed
DNS Flushing technique to boost up DOP Finacle/McCamish speed
What does DNS flushing do?
Whenever you type a URL on the address bar it fetches the corresponding IP address to communicate with web server (it might be any kind of server). When you repeatedly use a same URL its just a waste of network resource to fetch corresponding IP address every time because IP don't change too often.
So your computer stores the combinations of domain name and its IP in local cache to avoid fetching from Domain name System(DNS) every time you use same domain name(URL).
It also holds another crucial info called "Timeout" which says about the valid time for the IP and domain name combination, when this time times out your computer re-fetches the combination from DNS and stores in local cache again.
DNS flushing is the mechanism where the user can manually make all the entries in the cache invalid, so your computer re-fetches new combinations by now on whenever it needs and stores in local
Enough theory, let us do some practical
- First click Windows+R keys in your key board.(Ref the image given below)
Type the following command and press Enter:
If the command was successful, you will see the following message:
Now start a new session in Finacle and see the magic.It will be faster than previous session. This technique is useful in afternoon when the Finacle shows sluggish behaviour.
Bonus hike bill passed with effect from April 2014
Arrears of bonus (2014-15) likely !
The Lok Sabha on Tuesday passed a bill allowing doubling of wage ceiling for calculating bonus to Rs 7,000 per month for factory workers with establishments with 20 or more workers, with the benefits being applicable retrospectively from April 2014.
The Payment of Bonus (Amendment) Bill, 2015, was passed by a voice vote, with some members objecting to the raising of eligibility limit for payment of bonus from a salary of Rs 10,000 per month to Rs 21,000.
Government says goodbye to clerk era, changes designation for its staff
By PTI | 22 Dec, 2015, 03.37PM IST
NEW DELHI: Designations like Lower Division Clerk (LDC) and Upper Division Clerk (UDC) in central government's employee hierarchy have been replaced with new nomenclature.
The posts of UDC and LDC under Central Secretariat Clerical Service (CSCS) have been rechristened as Senior Secretariat Assistant and Junior Secretariat Assistant, respectively, an order issued by the Department of Personnel and Training (DoPT) said.
Besides, the post of Assistant under Central Secretariat Service (CSS) has been renamed as Assistant Section Officer, it said.
Both the CSCS and CSS form the backbone of administrative work in the central government.
The total sanctioned strength of CSS and CSCS is 11,467 and 5,933 respectively.
Earlier in March, the DoPT had decided to replace the 'class' categorisation for specifying the seniority of its employees with new alphabetical groupings.
The posts under the central government will be denoted as groups A, B, C and D instead of classes I, II, III and IV in the service rules, it had said.
The Class-III (Group C) employees had expressed concern that they were taunted as 'third-class' employees due to the categorisation.
The Class-I classification is for gazetted officers while Class-II refers to mainly the non-gazetted officers, though there are some gazetted officers in this category too.
Class-III comprises clerical staff and Class-IV (which is now subsumed in Class III or Group C) includes peons and helps or multi-tasking staff in the government hierarchy.
Source : http://economictimes.indiatimes.com/
Tuesday, 15 December 2015
Rules regarding quoting of PAN for specified transactions amended
15-December-2015 19:59 IST
Rules regarding quoting of PAN for specified transactions amended
The Government is committed to curbing the circulation of black money and widening of tax base. To collect information of certain types of transactions from third parties in a non-intrusive manner, the Income-tax Rules require quoting of Permanent Account Number (PAN) where the transactions exceed a specified limit. Persons who do not hold PAN are required to fill a form and furnish any one of the specified documents to establish their identity.
One of the recommendations of the Special Investigation Team (SIT) on Black Money was that quoting of PAN should be made mandatory for all sales and purchases of goods and services where the payment exceeds Rs.1 lakh. Accepting this recommendation, the Finance Minister made an announcement to this effect in his Budget Speech. The Government has since received numerous representations from various quarters regarding the burden of compliance this proposal would entail. Considering the representations, it has been decided that quoting of PAN will be required for transactions of an amount exceeding Rs.2 lakh regardless of the mode of payment.
To bring a balance between burden of compliance on legitimate transactions and the need to capture information relating to transactions of higher value, the Government has also enhanced the monetary limits of certain transactions which require quoting of PAN. The monetary limits have now been raised to Rs. 10 lakh from Rs. 5 lakh for sale or purchase of immovable property, to Rs.50,000 from Rs. 25,000 in the case of hotel or restaurant bills paid at any one time, and to Rs. 1 lakh from Rs. 50,000 for purchase or sale of shares of an unlisted company. In keeping with the Government’s thrust on financial inclusion, opening of a no-frills bank account such as a Jan Dhan Account will not require PAN. Other than that, the requirement of PAN applies to opening of all bank accounts including in co-operative banks.
The changes to the Rules will take effect from 1st January, 2016.
The above changes in the rules are expected to be useful in widening the tax net by non-intrusive methods. They are also expected to help in curbing black money and move towards a cashless economy.
A chart highlighting the key changes to Rule 114B of the Income-tax Act is attached.
Sl.
|
NATURE OF TRANSACTION
|
MANDATORY QUOTING OF PAN (RULE 114B)
| |
Existing requirement
|
New requirement
| ||
1.
|
Immovable property
|
Sale/ purchase valued at Rs.5 lakh or more
|
i. Sale/ purchase exceeding Rs.10 lakh;
ii. Properties valued by Stamp Valuation authority at amount exceeding Rs.10 lakh will also need PAN.
|
2
|
Motor vehicle (other than two wheeler)
|
All sales/purchases
|
No change
|
3.
|
Time deposit
|
Time deposit exceeding Rs.50,000/- with a banking company
|
i. Deposits with Co-op banks, Post Office, Nidhi, NBFC companies will also need PAN;
ii. Deposits aggregating to more than Rs.5 lakh during the year will also need PAN
|
4.
|
Deposit with Post Office Savings Bank
|
Exceeding Rs.50,000/-
|
Discontinued
|
5.
|
Sale or purchase of securities
|
Contract for sale/purchase of a value exceeding Rs.1 lakh
|
No change
|
6.
|
Opening an account (other than time deposit) with a banking company.
|
All new accounts.
|
i. Basic Savings Bank Deposit Account excluded (no PAN requirement for opening these accounts);
ii. Co-operative banks also to comply
|
7.
|
Installation of telephone/ cellphone connections
|
All instances
|
Discontinued
|
8.
|
Hotel/restaurant bill(s)
|
Exceeding Rs.25,000/- at any one time (by any mode of payment)
|
Cash payment exceeding Rs.50,000/-.
|
9.
|
Cash purchase of bank drafts/ pay orders/ banker's cheques
|
Amount aggregating to Rs.50,000/- or more during any one day
|
Exceeding Rs.50,000/- on any one day.
|
10.
|
Cash deposit with banking company
|
Cash aggregating to Rs.50,000/- or more during any one day
|
Cash deposit exceeding Rs.50,000/- in a day.
|
11.
|
Foreign travel
|
Cash payment in connection with foreign travel of an amount exceeding Rs.25,000/- at any one time (including fare, payment to travel agent, purchase of forex)
|
Cash payment in connection with foreign travel or purchase of foreign currency of an amount exceeding Rs.50,000/- at any one time (including fare, payment to travel agent)
|
12.
|
Credit card
|
Application to banking company/ any other company/institution for credit card
|
No change.
Co-operative banks also to comply.
|
13.
|
Mutual fund units
|
Payment of Rs.50,000/- or more for purchase
|
Payment exceeding Rs.50,000/- for purchase.
|
14.
|
Shares of company
|
Payment of Rs.50,000/- or more to a company for acquiring its shares
|
i. Opening a demat account;
ii. Purchase or sale of shares of an unlisted company for an amount exceeding Rs.1 lakh per transaction.
|
15.
|
Debentures/ bonds
|
Payment of Rs.50,000/- or more to a company/ institution for acquiring its debentures/ bonds
|
Payment exceeding Rs.50,000/-.
|
16.
|
RBI bonds
|
Payment of Rs.50,000/-or more to RBI for acquiring its bonds
|
Payment exceeding Rs.50,000/-.
|
17.
|
Life insurance premium
|
Payment of Rs.50,000/- or more in a year as premium to an insurer
|
Payment exceeding Rs.50,000/- in a year.
|
18.
|
Purchase of jewellery/bullion
|
Payment of Rs.5 lakh or more at any one time or against a bill
|
Deleted and merged with next item in this table
|
19.
|
Purchases or sales of goods or services
|
No requirement
|
Purchase/ sale of any goods or services exceeding Rs.2 lakh per transaction.
|
20.
|
Cash cards/ prepaid instruments issued under Payment & Settlement Act
|
No requirement
|
Cash payment aggregating to more than Rs.50,000 in a year.
|
*********
DSM
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