1. Whether a retiring Government servant is entitled for leave encashment after retirement under the NPS?The benefit of encashment of leave salary is not a part of the retirement benefits admissible under Central Civil Services (Pension) Rules, 1972. It is payable in terms of CCS (Leave) Rules which will continue to be applicable to the government servants who join the government service on after 1-1-2004. Therefore, the benefit of encashment of leave salary payable to the governments/to thei... Read Full Story
Now the world around us is getting up from recession. Stock market and other financial markets are coming up. This is time to invest in properties, whether it is for residential purpose or for investment purpose.Unlike other investments, investment in real esatate rquire more money and more cautious. For a majority it is a one time investment in thier life. when you play with your hard earned money you must be more viglent. First decide the purpose of investing, I mean it is for residential o... Read Full Story
Free Unlimited withdrawal of Cash from other Banks ATM is being controlled by RBI. From Thursday onwards you can withdraw cash only 5 times in a month and the maximum cash withdrawal at a time is limited to Rs. 10000/-. Withdrawals more than 5 times in a month attract Rs. 20/- each. And also only saving account holders can use this facility. Current account holders cannot withdraw money from third party banks ATM. The facility was convenient for account holders those who don't have their own... Read Full Story
An employee has no inherent right to "voluntary retirement" as the same is subject to the rules framed by the employer governing the scheme, the Supreme Court has ruled.A bench of Justices Tarun Chatterjee and R M Lodha said if the scheme specifically stipulates that the voluntary retirement offer made by an employee is to be approved by the competent authority, then the employee cannot insist that he should be granted retirement even if it is not approved by the management.The bench passed t... Read Full Story
In an order which would benefit a large number of armed forces personnel, the Supreme Court has ruled that disabled soldiers who opt pre-mature retirement at their own request are entitled to disability pension.Defence personnel with disabilities attributable to or aggravated by military service are eligible for disability pension. The government, however, had been refusing payment of disability pension to personnel who had left the forces voluntarily on compassionate grounds. The reason give... Read Full Story
The Defence Minister Shri AK Antony has stressed that all men in the Armed Forces must get all their pay arrears relating to the Sixth Central Pay Commission well in time before Diwali. Addressing the Defence Accounts Day function here today, Shri Antony commended the officials of the Controller General of Defence Accounts for adopting computerisation and speeding-up the salary computation systems.“One of the major challenges before you all is to render prompt, efficient and hassle free pensi... Read Full Story
University and college teachers in Karnataka will get revised University Grants Commission (UGC) pay scales. The retirement age for university teachers is raised from 60 to 62 years.The pay revision along the lines of the Sixth Pay Commission recommendations will benefit an estimated 18,630 university and college teachers. The beneficiaries of the retirement age enhancement will, however, be much less.Announcing the Cabinet decisions, Home Minister V S Acharya said the revised pay scales for ... Read Full Story
n pursuance of the recommendations of Sixth Central Pay Commission (Para 6.1.15) of its report), Department of Personnel and Training vide their OM No.35034/3/2008-Esst.(D)dated 19.05.2009 has circulated the Modified Assured Career Progression Scheme (MACPS).A copy of the same may be downloaded from the DOPT site i.e. www.persmin.nic.in. The modalities for grant of financial up gradation as explained in the scheme annexed to the OM may be followed in toto. The details of the posts covered und... Read Full Story
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