PRASHANT DARJI PA DABHOI HO

Saturday, 31 August 2013

6th CPC had recommended not to merge 50% of Dearness Allowance (DA) Parliament was informed today

6th Pay Panel has not recommended 50% DA merger with Basic pay, says govt

The 6th Pay Commission had recommended not to merge 50% of Dearness Allowance (DA) for government employees with their basic pay, Parliament was informed today.

'The 6th Central Pay Commission had recommended not to merge Dearness Allowance with basic pay at any stage,' Minister of State Finance Minister Namo Narain Meena said in a written reply to the Lok Sabha.

Government accepted this recommendation, he said, adding that the recommendations of the 6th Pay Commission were given effect from January 1, 2006.

Some Central Government Employees Associations have been demanding for the merger of 50% DA with Basic Pay and the constitution of 7th Pay Commission.

Meena said the setting up of the next Pay Commission is considered normally after a gap of 10 years between two successive Pay Commission.

DA to central government employees is revised twice a year, with effect from January 1 and July 1, calculated on the basis of percentage increase in all India Consumer Price Index for Industrial Workers.


Source: http://www.business-standard.com

Tuesday, 6 August 2013

About PHILATELY







The hobby of collection and study of postage stamps is popularly known as philately. It was English lady with an unusual fancy who unwittingly started stamp collecting as hobby. She wanted to cover the walls of her dressing room with used postage stamps in 1841. She appealed to the readers to send used stamps through the columns of London Times. Soon the craze for collecting stamps began to spread. M.G.Herpin coined the word philately , literally meaning ‘ a lover of taxation ‘ in the year 1864 and encompasses stamp collecting.
                 The first postage stamp of the world called Penny Black was issued in England in May 1840 as per the suggestion of Sir Rowland Hill and the stamp had portrait of young Queen Victoria. In 1852 by the order of the Governor of Sindh Province  , three stamps label were issued. They were in usage in Sindh Province only. They are known as Sind Dak. The stamps were embossed and depicted the East India Company’s broad arrow.
                 Postage stamps are issued primarily to prepay the charges for conveying articles to their destination. Postage stamps issued by a country reflect the tradition , heritage and wealth of its people as also its flora and fauna. There is no facet of human life , which is not portrayed on stamps and herein lies the secret of universal appeal and great educative potential which stamp hold.
               Stamps have very often been arbitrarily classified but we shall classify them on the purpose of issue into four broad categories. (1) Definitive (2) Commemorative / special (3) Thematic (4) Provisional .
              Definitive stamps are regular stamps issued for day to day use. The definitive series are not changed for long periods like five years or more. They are printed in large numbers and can be reprinted  as per requirements. They are so designed as to incur minimum expenditure in manufacture , storage , distribution and sale.
               Commemorative / special stamps are issued to commemorate personalities , events etc. of national or international importance or to draw attention to special occasions , subjects or functions. These are printed in limited quantities and are never reprinted.
              Thematic Stamps are now being issued and collected in increasing number. Thematic stamp collectors instead of collecting all the stamps of the world, concentrate on stamp having the subject of their choice, such as birds , animals , games and sports , trees ,etc.  They are pictorials , neither printed in sufficient quantities to be called definitive nor are they produced in connection with any personality, place or event to be called commemorative.  The aim of issuing such kind of stamps is to satisfy the demands of the thematic stamp collector and to earn money.
         Provisional Stamps as their name signifies, are issued on temporary basis. Such kind of stamps are issued where there is an acute shortage of some particular stamps or sudden changes in Government, currency or postal rates. Sometimes, old stamps are overprinted and made available in time when there is possibility of delay in printing the new ones.
            The collection of postage has become a universal hobby as also means of profit , since many stamps, especially the rare ones are sold at a very high price. Philately is therefore rightly termed as king of hobbies and the hobby of kings. The collection of stamps has now known to such proportions that there are regular ‘ philately clubs’ throughout the world helping their members to obtain stamps of other countries.
             To enable stamp collectors in India and foreign , the India Post opened Philatelic Bureaux at all State capitals and important cities and philatelic counters at other important cities and towns. Old stamps can also be had from these Bureaux and counters , subject to availability. Philately Deposit accounts can be opened with initial deposit of Rs 200/- at all Philatelic Bureaux / counters and all Head Post Offices to get new stamps , first day  covers , brochures as well as new postal stationery with advertisement.
Some special terms relating to stamp collecting.
  1. Mint- Uncancelled stamps are called  mint stamps. They must be in the same form  as issued by Postal Department. These stamps have gum on the back of them. A few countries issue ungummed stamps.
  2. Used- Stamps , with post office seals, are called used.
  3. Pair- Two similar stamps in one unit are called pair.
  4. Block – When four or more stamps are joined together in square position.
  5. Cancellation or Postmark - To put a stamp seal on the stamp through sometimes  it is done with ink.
  6.  Perforation – Holes on all sides of a stamp are called perforation.
  7. Tete- beche- The pair of stamps joined in different direction from each other.
  8. Watermark- Some kind of mark given on the stamp paper , as Star in India formerly and Asoka pillar now a days. Indian commemorative stamps now being printed on paper without watermark.
  9. Overprint- When some separate words are printed on ordinary or special stamps , they are called overprints as Service on some old stamps.
  10. First Day Cover- It is an envelope with stamp cancelled on the first day of issue.
  11.  Miniature Sheet- A small sheet on which one or more stamps have been printed , specially issued for stamp collectors, though can be used for purposes also. In India , Indipex stamps were issued in miniature sheets
  12. Maxim card- It is a postcard with a big sized copy of a stamp and the related stamp cancelled on the first day of its issue.
  13.  Se-tenant – Stamps of different designs, joined together, are called Se-tenants.
  14. Doctor’s Blade- At the time of printing, some stamps come with some extra ink in the form of lines, bars or dots. Such mistake is called Doctor’s blade.
  15. Traffic Light- Most of the multicoloured stamp sheets are printed with colour marks on the margins of the sheet. This enables the printer to know whether any colour is missing in printing. Such corner stamps with colour symbols are known as traffic light stamps. Several collectors use to collect such stamps.
Thanks to :
Shri. Balaji.S
Inspector Posts (Tech),
O/o. Chief PMG,
North East Circle, 
Shillong - 793 001. 
Mobile : +919615954049

Friday, 19 July 2013

Updation of service books anti its inspection by each employee

EMPLOYEES PROVIDENT FUND ORGANISATION

DATED 17th JUL 2013

Subject.: Updation of service books and its inspection by each employee.

Sir,

You are aware that under SR 199 every step in the career of an official / officer should be recorded in the service book and each entry is attested by the Head of the Office / officer so authorized to ensure accuracy in the entries.
2. Further, under SR 202 the updated service book is required to be shown to official / officer every year. The government servant after ensuring the accuracies of each entry affixes his / her signature.
3. In view of the above, it is requested to carry out an exercise towards updation of service book and its mandatory inspection by respective employees. The head of the offices maintaining the service books of employees must. give a certificate that Service hooks of all employees in his office has been updated and the signatures of respective employees have been obtained in the service book.
4. This exercise needs to be completed by 15.08.2013.

(This issues with the approval of .ACC(HR) ).

Read more details -http://www.epfindia.com/Circulars/Y2013-14/HRM_UpdtSerBook_7493.pdf

Tuesday, 16 July 2013

A look at various financial products offered by the Post Office

The telegram may be dead and postage stamps on their way out, but the post office is not sliding into oblivion. Its small savings schemes are a favourite with investors, and if India Post bags the banking licence, it could be a financial powerhouse with its 1.55 lakh branches. Here are some of the products and services offered by the post office

SAVINGS ACCOUNT

Tenure: NA

Interest rate: 4%

It has a very low minimum balance requirement of Rs 50 without cheque facility, and Rs 500 with cheques.

RECURRING DEPOSIT

Tenure: 5 years

Interest rate: 8.3%

* Investor is given a flexible window of up to 15 days to deposit the sum.

* It is not necessary to open a savings account as well.

* The term can be extended by up to five years on maturity.

TIME DEPOSITS

Tenure: 1 - 5 years

Interest rate: 8.2 - 8.4%

The five-year deposits are eligible for tax deduction under Section 80C.

Minors above 10 years can open and operate account.

Deposits can be foreclosed after one year. The one-year deposit can be foreclosed after six months.

MONTHLY INCOME SCHEME

Tenure: 5 years

Interest rate: 8.4%

* Minimum deposit Rs 1,500 and maximum of Rs 4.5 lakh.

* Interest flows into savings account at the same post office.

* It can be foreclosed after one year with a 2% deduction.

* After three years, the deduction is 1%.

SENIOR CITIZENS' SAVING SCHEME

Tenure: 5 years

Interest rate: 9.2%

* It is open to investors above 60 years. The retired or those who have taken VRS can join at 55.

* There is a maximum limit of Rs 15 lakh per individual.

Investments are eligible for deduction under Section 80C.

* Can be foreclosed after one year with 1.5% deduction. After two years, the deduction is 1%.

* The interest is paid out quarterly.

* Can be extended for 3 years on maturity.



PUBLIC PROVIDENT FUND

Tenure: 15 years

Interest rate: 8.7%

* There is a minimum deposit of Rs 500 and maximum of Rs 1 lakh in a year.

* Investments are eligible for deduction under Section 80C.

* The interest earned is tax-free.

* Account can be extended by five years on maturity.

* Withdrawals allowed after sixth year.

NSCs

Tenure: 5 - 10 years

Interest rate: 8.5 - 8.8%

* There is a minimum investment of Rs 100.

* Investments are eligible for deduction under Section 80C.

* Income accrued every year is treated as reinvestment and is eligible for tax benefits under Section 80C.

* There is no TDS, but income is fully taxable.

Other financial services offered by the post office

Money transfer

It offers wire transfers and international money orders, besides issuing traveller's cheques and 22 foreign currencies to foreign travellers. It also offers prepaid forex cards in seven currencies, demand drafts in 11 currencies and wire transfer in 13.

National Pension Scheme

Right now, the NPS facility is available at nearly 800 branches across the country. The NPS is a lowcost retirement plan. It is also portable and can be accessed from any part of the country.

Mutual funds

A qualified mutual fund adviser is available at designated branches of the post office. An investor can submit application forms, payment cheques and KYC documents at these branches. However, the facility has not taken off due to removal of entry load.

Life insurance

Postal Life Insurance is open only to employees of the Central and state governments, public undertakings and semi-government organisations. The Irda has allowed the post office to sell insurance policies of private companies.

Commercial banking

India Post is among the 36 companies that have applied for banking licences. The launch of commercial banking operations could pitchfork the post office to the forefront of financial services in India.