Cabinet approves introduction of the Payment of Gratuity (Amendment) Bill, 2017 in the Parliament

Cabinet approves introduction of the Payment of Gratuity (Amendment) Bill, 2017 in the Parliament

Press Information Bureau
Government of India
Cabinet

12-September-2017 16:53 IST

Cabinet approves introduction of the Payment of Gratuity (Amendment) Bill, 2017 in the Parliament 

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of the Payment of Gratuity (Amendment) Bill, 2017 in the Parliament.

The Amendment will increase the maximum limit of gratuity of employees, in the private sector and in Public Sector Undertakings/ Autonomous Organizations under Government who are not covered under CCS (Pension) Rules, at par with Central Government employees.

Background:

The Payment of Gratuity Act, 1972 applies to establishments employing 10 or more persons. The main purpose for enacting this Act is to provide social security to workmen after retirement, whether retirement is a result of the rules of superannuation, or physical disablement or impairment of vital part of the body. Therefore, the Payment of Gratuity Act, 1972 is an important social security legislation to wage earning population in industries, factories and establishments.

The present upper ceiling on gratuity amount under the Act is Rs. 10 Lakh. The provisions for Central Government employees under Central Civil Services (Pension) Rules, 1972 with regard to gratuity are also similar. Before implementation of 7th Central Pay Commission, the ceiling under CCS (Pension) Rules, 1972 was Rs. 10 Lakh. However, with implementation of 7th Central Pay Commission, in case of Government servants, the ceiling now is Rs. 20 Lakhs effective from 1.1.2016.

Therefore, considering the inflation and wage increase even in case of employees engaged in private sector, the Government is of the view that the entitlement of gratuity should be revised for employees who are covered under the Payment of Gratuity Act, 1972. Accordingly, the Government initiated the process for amendment to Payment of Gratuity Act, 1972

Cabinet approves release of additional 1% Dearness Allowance to Central Government employees and Dearness Relief to pensioners w.e.f. 01.07.2017

Cabinet approves release of additional 1% Dearness Allowance to Central Government employees and Dearness Relief to pensioners w.e.f. 01.07.2017

Press Information Bureau
Government of India
Cabinet

12-September-2017 16:58 IST

Cabinet approves release of additional 1% Dearness Allowance to Central Government employees and Dearness Relief to pensioners w.e.f. 01.07.2017 

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for release of additional 1% Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners. It will be applicable from 01.07.2017.

The release of the additional instalment of DA represents an increase of 1% over the existing rate of 4% of the Basic Pay/Pension, to compensate for price rise. This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.

The combined impact on the exchequer on account of both DA and DR would be Rs.3068.26 crore per annum and Rs.2045.50 crore in the financial year 2017-18 (for a period of 8 months from July, 2017 to February, 2018). This will benefit about 49.26 lakh Central Government employees and 61.17 lakh pensioners.

All 1.55 lakh post offices to offer payments bank service

All 1.55 lakh post offices to offer payments bank service

NEW DELHI: India Post Payments Bank is gearing up to provide its financial services through all of 1.55 lakh post offices and 3 lakh employees by the end of 2018 -- which will create India's second-largest payments bank in terms of reach. 
"We will have post bank footprint in every district by March 2018, and before the end of the calendar year, all 1.55 lakh post offices and every postman and grameen dak sevak, which is another 3 lakh, will be equipped with a device which will provide full range of payment solutions that we will be hosting," India Post Payments Bank (IPPB) Chief Executive Officer A P Singh said at an event organised by United Nationson Financial Inclusion. 
In the private space, AirtelBSE -0.70 % Payments Bank, launched in January this year, started operations with a network of 2.5 lakh merchants. 
Payments banks can accept deposits of up to Rs 1 lakh per account from individuals and small businesses. 
The new model of banking allows mobile firms, supermarket chains and others to cater to banking requirements of individuals and small businesses. It will be set up as a differentiated bank and will confine its activities to acceptance of demand deposits, remittance services, Internet banking and other specified services. 
IPPB offers an interest rate of 4.5 per cent on deposits up to Rs 25,000, 5 per cent on Rs 25,000-50,000 and 5.5 per cent on Rs 50,000-1,00,000.

"While our private sector counterparts will, I take it very positively, skim the market from the top, you need someone who works bottoms up. That is our choice," Singh said. 
He said that similar to State Bank of IndiaBSE 0.20 % that was created to take banking to people, IPPB is going to take digital payments to masses. 
At the event, Telecom Regulatory Authority of India Chairman R S Sharma said transaction cost on digital payment should be very minimal and it should be made affordable. 
IPPB, according to Singh, will use Aadhaar as payment address of an individual, indicating that the postal bank may bring the transaction charge close to 1 paisa. 
"We will convert it (Aadhaar) into payment address. We will get this activated by offering a host of payment services," Singh said. 
"We have taken up the challenge on ourselves as to how we make a Rs 10 transaction viable. Aadhaarauthentication cost less than 1 paisa. There is no reason why a payment transaction should be transacting anything more," Singh said. 
At present, private players and even public banks charge transaction fee even on digital payments, depending on the nature of the transaction. 

Source :  http://economictimes.indiatimes.com/

IPPB Savings Account Charges and Remittance Charges Published

IPPB - Schedule of Charges

(Tariffs are excluding applicable taxes)

Savings account charges and features

Notes:

1. The above charges are in addition to the transaction charges (e.g. charges for AEPS are not included above). Please refer to the respective sections for transaction charges
2. The higher of financial and non-financial transaction charges for doorstep banking will be levied in case a customer avails both the facilities in a single visit (e.g. If a customer avails cash deposit of INR 10,000 and balance enquiry in a single doorstep visit, the customer will be charged INR 20 for that visit)
3. Only three transactions are allowed per visit. Fourth transaction would be treated as another visit, and charges would apply accordingly

Chip Based ATM cum Debit Card from IPPB (India Post Payments Bank)

Chip Based ATM cum Debit Card from IPPB (India Post Payments Bank)

The India Post Payment Bank will issue chip-based ATM cum debit card to its customers in lieu of conventional magnetic tape based cards. A microchip is embedded on the card and contains all information in an encrypted format. It also comes with a personal identification number (PIN). 

When a chip-based card is used at the point of sale (POS) terminal, the terminal reads the encrypted format on the card and asks for a PIN and only then is the transaction processed. A chip-based card cannot be read unless you punch in the PIN.

Following is the first look of Rupay Debit of IPPB to be supplied to its account holders.

So far, only Axis Bank Ltd, HDFC Bank Ltd, State Bank of India (SBI), ICICI Bank Ltd and Kotak Mahindra Bank Ltd have launched chip-based cards in India. Some banks offer chip-based cards without a PIN; they use your signature for authentication.

The pilot branches of IPPB will be inaugurated at Raipur and Ranchi through video conferencing by Arun Jaitely and Manoj Sinha on 30th January 2017, at 5PM.

Premature Closure of Public Provident Fund (PPF) Account : Notification

Premature Closure of Public Provident Fund (PPF) Account : Notification

Premature Closure of PPF Account i.r.o. Minor Subcriber: Notification dated 18th June, 2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA. EXTRAORDINARY, PART II.

SECTION 3, SUB-SECTiON (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi. the 18th June 2016

G.S.R. . . .....(E) In exercise of the powers conferred by sub-section of (4) of section 3 of the Public Provident Fund Act 1968 (23 of 1968), the Central Government hereby makes the following scheme further to amend the Public Provident Fund Scheme, 1968, namely:-

1. (1) This Scheme may be called Public Provident Fund (Amendment) Scheme, 2016.

(2) It shall come into force on the date of its publication in the Official Gazette

2. In the Public Provident Fund Scheme, 1968, in Paragraph 9. for sub-rule 3(C). the following sub-paragraph shall be substituted, namely-

"(3C) A subscriber shall he allowed premature closure of his account or the account of a minor of whom he is the guardian. on a written application to the Accounts Office, on any of the following grounds namely:-

(i) that the amount is required for the treatment of serious ailments or like threatening diseases of the account holder. spouse or dependent children or parents. on production or supporting documents from competent medical authority,

(ii) that the amount 8 required for higher education of the account holder or the minor account holder. on production of documents and fee bills in confirmation of admission in a recognised institute of higher education in India or abroad:

Provided that such premature closure shall be allowed only after the account has completed five financial years.

Provided further that premature closure under this sub-paragraph shall be subject to deduction of such amount which shall be equivalent to one percent less interest on the interest rates as applicable from time to time in the table payable on the deposits held in the account from the date of opening of the account till the date of such premature closure. calculates in accordance with the sample calculation as shown in the table on next page:

Calculation showing the interest payable to depositor

Year (1)	Opening Balance (2)	Assumed Fresh Deposit (3)	Total Amount (4)	Rate of Interest (5)	1% less on the applicable rate of interest (6)	Interest accrued (7)	Outstanding Balance (8)
2006-07		1000.00	1000.00	8.0	7.0	70.00	1070.00
2007-08	1070.00	500.00	1570.00	8.0	7.0	109.00	1679.90
2008-09	1679.90	500.00	2179.90	8.0	7.7	167.85	2347.75
2009-10	2347.75	700.00	3047.75	8.0	7.0	213.34	3261.09
2010-11	3261.09	600.00	3861.09	8.0	7.0	270.28	4131.37
2011-12	4131.37	1000.00	5131.37	8.6	7.6	389.98	5521.36
2012-13	5521.36	1200.00	6721.36	8.8	7.8	524.27	7245.62
2013-14	7245.62	1500.00	8745.62	8.7	7.7	673.41	9419.03
2014-15	9419.03	1500.00	10919.03	8.7	7.7	840.77	11759.80
2015-16	11759.80	1000.00	12759.80	8.7	7.7	982.50	13742.30
Total		9500.00					13742.30

[F.No. 1/04/2016-NS.II]

Prashant Goyal
Joint secretary

Source: www.finmin.nic.in
[http://finmin.nic.in/the_ministry/dept_eco_affairs/budget/Premature_ppf18162016.pdf]

Staff Selection Commission to hold CGL examination online

Staff Selection Commission to hold CGL examination online

The Staff Selection Commission (SSC) has decided to conduct its flagship Combined Graduate Level Examination (CGLE) online to check malpractices and make the test more transparent.

Besides, the Commission has also changed the pattern of the examination and included descriptive portion (essay writing) in it for the first time.

Hundreds of students are selected through the CGLE every year for various mid-level central government jobs, including as Assistant in Intelligence Bureau and Inspector in Income Tax.

"It has been decided to conduct the CGLE through online mode rather than Optical Mark Recognition (OMR) based. It is a historic decision that will bring in more transparency in the examination process," SSC Chairman Ashim Khurana said.

He said a video walk through on the SSC's website has been put up to help the aspirants understand the new pattern.

About 38 lakh aspirants, who had already applied for CGLE 2016, will have to take the test under the new pattern which will be conducted in the next two months.

"A notice mentioning the changes in pattern of examination has been issued. The new online system will effectively put a check on any incident of leakage of exam paper or tampering with the examination process," Khurana told .

He said the Commission is getting positive feedback from the students across the country on the recently announced changes.

The decision to hold the CGLE online was endorsed by Prime Minister Narendra Modi also, senior officials in Personnel Ministry said.

The SSC is one of the largest recruiting agencies in the country mandated to conduct eight exams. It will fill about 89,000 government posts this year alone from among about two crore applicants.

The Commission's flagship CGLE is for filling vacancies in 30 different services in the central government.

There will be no fresh application for CGLE 2016 and those who have already applied will have to take the exam on computer rather than OMR mode, which was prone to malpractices by tech-savvy syndicates, the officials said.

The computer-based examination will ensure greater confidentiality and faster processing of results, they said.

The SSC has for the first time been authorised to make recruitment for gazetted posts of Indian Audit and Accounts department.

As per the changed pattern, the CGLE will now be conducted in three tiers instead of two.

In phase I, there will be 100 questions as against 200 earlier. The aspirants will get 1.15 hours instead of two. There will be no change in tier II and two papers of 200 marks each would continue. Those who qualify in both tier I and II, will have to take tier III exam of 100 marks which will be descriptive in nature, the officials said.

They said the descriptive portion will help in checking candidates' comprehension and analytical skills. 

Source : The Times of India

Flushing of DNS for getting more faster Internet access.

Get in to CMD and run the command ;
IPCONFIG/FLUSHDNS
then click on Enter, we can find the blocking will be removed .
Try it.

some steps for Finacle Beginners

CBS WORK FLOW FOR SUB OFFICES WITH BO

LOG IN;- When appilate loaded successfully  give your User ID & Password accurately . If it shows “block or don’t block” then clik on don’t block .

Clock on “select”àfincoreàthe menu pad will be shown .

For SB Deposit at SO:-

Invoke “CTM”àgo(f4)à(function) Addà(function type)depositàgo(f4)àgive SB A/C noà give amountà click on “post”à write down the trans ID on the voucher.

Verify;-

Log in as Supervisor , invoke “CTM” ”àgo(f4)à(function) verifyàgive trans IDàgo(f4)àpost

For SB withdraw  at SO;-

Invoke “CTM”àgo(f4)à(function) Addà(function type)withdrawàgo(f4)àgive SB A/C noà give amountà click on “post”à write down the trans ID on the voucher.

Verify;-

Log in as Supervisor , invoke “CTM” ”àgo(f4)à(function) verifyàgive trans IDàgo(f4)àpost

For RD Deposit at SO;-

invoke “CRDP”à(function) Addà(trans type) cash depositàgo(f4)àgive account NOàgive total amountàclick on “submit”(f10)à write down the trans ID on the voucher.

Verify;-

Log in as supervisor , invoke “CRDP”à(function) Postàgive trans IDà go(f4)àsubmit(f10)

SSA deposit at SO;-

Invoke “CTM”àgo(f4)à(function) Addà(function type)depositàgo(f4)àgive SSA A/C noà give amountà click on “post”à write down the trans ID on the voucher.

Verify;-

Log in as Supervisor , invoke “CTM” ”àgo(f4)à(function) verifyàgive trans IDàgo(f4)àpost

SB deposit at BO;-

Log in as PA invoke “CXFER”à(function) Addà(transaction type) Transfer bank inducedàgo(f4)àinter Dr. A/C ID( SOL  ID +0339 Ex.752081010339 for odagaon)àCr.A/C ID (SB A/C No.)àenter amountàPost-> note down the trans ID

Verify;-

Log in as Super invoke “CXFER”à(function)verifyà give trans ID àgo(f4)àpost.

SB withdraw at BO;-

Log in as PA invoke “CXFER”à(function) Addà(transaction type) Transfer bank inducedàgo(f4)àinter Dr. A/C ID(SB A/C No)àCr.A/C ID (SOL  ID +0339 Ex.752081010339 for odagaon.)àenter amountàPostà note down the trans ID

Verify;-

Log in as Super invoke “CXFER”à(function)verifyà give trans ID àgo(f4)àpost.

RD Deposit at BO;-

Log in as PA  invoke “CRDP”à(function)Addà(trans type) Transfer to bank inducedàgo(f4)àgive RD A/C Noàgive total amountàclik on mode payment as Transferàgive total amount including defaultàgive account ID (SOL ID+0339   for Ex.752081010339 for odagaon)àsubmit(f10)

Verify;-

Log in as Super  , Invoke “CRDP”à(function)Postàgive trans IDà Submit(f10)

SSA deposit BO;-

Log in as PA invoke “CXFER”à(function) Addà(transaction type) Transfer bank inducedàgo(f4)àinter Dr. A/C ID( SOL  ID +0339 Ex.752081010339 for odagaon)àCr.A/C ID (SSA   A/C No.)àenter amountàPost-> note down the trans ID

Verify;-

Log in as Super invoke “CXFER”à(function)verifyà give trans ID àgo(f4)àpost.

RD close at SO;-

Log in as PA , invoke “CRDCAAC”à(function) close “Z”à inter A/C IDàgo(f4)à enter closure reason ‘NORML’ if  closure is normalàselect repayment mode as cash/transferàenter repayment A/C IDà clik on submit (f10)à note down the trans ID.

Verify;-

 Log in as Super , invoke “CRDCAACV”à(function) verify ‘V’à give trans ID àclick on submit (f10)

Invoke  “HCASHPND” menu for cash transaction àgive transaction IDàverify trans ID in “HTM” menu.

VAULT TRANSECTION;-

Taller ID= Treasurer A/c  SOL ID+0501

Vault ID= PA A/c                 SOL ID+0406

First of all PA has to take advance from Taller ID ;-(Treasurer to PA cash transfer)

Log in as PA invoke “HTM”àAdd à cash transfer àDr.A/C ID (Taller ID , i.e SOL ID+0501)à enter amount àAdd àCr.A/C ID (Vault  A/C ,i.e SOL ID+0406)àenter amount given previously àpost ànote trans ID generate ..

Verify;-

Log in as Super  invoke “HTM”àfunction verify(V)àenter trans ID àpost

PA to treasurer cash transfer ;-

Log in as PA invoke “HTM”àAdd à cash transfer àDr.A/C ID (Vault ID , i.e SOL ID+0406)à enter amount àAdd àCr.A/C ID (Taller A/C ,i.e SOL ID+0501)àenter amount given previously àpost ànote trans ID generate ..

Verify;-

Log in as Super  invoke “HTM”àfunction verify(V)àenter trans ID àpost

How to see cash position of taller ;-

Log in as PA , invoke “HTCPIAE”àenter taller ID àsubmit    you can see taller cash position.

Report menu;-

Log in as PA , invoke “HFINRPT”àgive SOL IDàgoàselect the pages you want and clik on Submit. àOK now Invoke “HPR” and select the file to be printed àprint screenàprint

EOD Procedure ;-

Log in as Super , Invoke “HTCPIAE” see the taller cash position à invoke “HFTI” see all part of entered,posted and verified transections àinvoke “HISCOD” give time in hour and minutes àinvoke “HPR” see the EOD statusàInvoke “HSSI”

Next will be updated soon...