Tuesday 18 September 2012

Happy Ganesh chaturthi to my all friends and visitors .....................


Advertisement for the posts of Directors (Debt, Equity, MIS and Accounts & Treasury) in the Investment Division (PLI), Department of Posts, Ministry of Communications & IT...

Government of India, Ministry of Communications & IT, Department of Posts,
                              Dak Bhawan, Sansad Marg, New Delhi - 110001

Department of Posts has set up Investment Division in Mumbai under the Postal Life
Insurance Directorate of the Department for investment of the Post Office Life Insurance
Fund (POLlF) and Rural Post Office Life Insurance Fund (RPOLlF). Applications in the
prescribed format from eligible candidates are invited for ex-cadre posts of Directors in the
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remuneration, required qualification, job description are given in Annexure 'A'.

To view details, please CLICK HERE.

Demand of Grade Pay of Rs. 4600/- for Inspector Posts rejected by MOF again.

Copy of letter of Shri Permanand posted in "Postal Inspectors Blog for Pay hike" is reproduced below for information.

Dear Friends,

It is really sad to intimate that Department of Expenditure, MOF has rejected the demand for grade pay of Rs.4600 to Inspector (Posts) even after the full justification given by Hon’ble CAT Ernakulam Bench in its order dated 18.10.2011 in OA No. 381/2010 and the good viable proposal submitted by DoP. The official rejection letter is yet to be received. However, note sheet of the relevant file has been received under RTI from DoP.

2. As available in the note sheets (17/N), the DoP had sent the following proposal with concurrence of IFW and approval of Secretary (Posts) to Department of Expenditure, MOF:

“The hierarchical difference i.e non-availability of intermediary cadre like Assistant Superintendent Posts in CBDT/CBEC and CSS can be resolved by allowing Grade Pay of Rs.4600 to Inspector Posts in Department of Posts (a GCS Group B Non-Gazetted Post) and retaining its promotional cadre of Assistant Superintendent Posts (a GCS Group B Gazetted Post) also in the identical Grade Pay of Rs.4600. In the Accounts cadre, the cadre of Accounts Officer is in Grade Pay of Rs.5400 in PB-2. Its promotional post of Senior Accounts Officer is in Grade Pay of Rs.5400 in PB-3 & its further promotional post of ACAO also in Grade Pay of Rs.5400 in PB-3. This would not thereby involve upgradation in Grade Pays of Assistant Superintendent Posts and PS Group B.”

3. MOF has rejected the demand for Grade pay of Rs.4600 for Inspector (Posts) without examining the above proposal, and stated the following (written in red colour):

(I) There was no specific recommendation in para 7.6.14 to the effect that Inspector Post are granted Pre-revised pay scale of Rs. 6500-10500.


(It seems that MOF has not gone through the para 26 of Hon’ble CAT order dated 19.10.2011 in OA No. 381/2010, wherein the import of the observation of the Pay Commission has been clearly mentioned. Moreover, as mentioned in para 7.6.14 of 6thCPC report “…………With this upgradation, Inspector (Posts) shall come to lie in an identical pay as that of their promotional post of Assistant Superintendent (Posts) [ASPOs]. ASPOs shall, accordingly, be placed in the next higher pay scale of Rs.7450-11500………….”)

(II) Inspectors in CBEC/CBDT were placed in the scale of Rs.6500-10500 w.e.f 21.04.2004 i.e prior to 6th CPC by an executive order of the Govt. keeping in view of their parity with Inspectors of CBI/IB and court directions of CAT Jabalpur Bench. Further, Asstts. Of CSS have also been granted the pay scale of Rs.6500-10500 w.e.f 15.09.2006 on the basis of their traditional parity with Inspectors CBEC/CBDT. Further, it was the conscious decision of the Govt. to keep Asstts. In CSS/Inspector and analogous post in CBEC/CBDT in the higher pre-revised scale i.e Rs.7450-11500/- considering their pre-revising relativities, hierarchical structure, mode of recruitment etc. The mode of recruitment was not the only criteria as contended by the applicants in the OA. In various cases, Apex Court also opined that wholesale identity between two groups would involve matters relating to nature of work, educational qualification, mode of recruitment, experience etc.

(The details of the basis for increase from Rs.5500-9000 to Rs.6500- 10500 for Inspectors CBEC/CBDT w.e.f 21.04.2004 and for Assistants in CSS w.e.f 15.09.2006 along with the note sheet of the relevant file have been asked from MOF under RTI. Also, Documents available for establishing the “Traditional Parity” / wholesale identity between Inspectors CBEC/CBDT and Assistants in CSS have asked. MOF Response is awaited. Further, wholesale identity should be decided by the Expert body i.e Pay Commission. 5th & 6th CPC had rightly did so for Inspector (Posts) and granted equal pay scale/ grade pay to that of Inspectors CBDT/CBEC and Assistants in CSS. Apex Court in the case of State of West Bengal v. West Bengal Minimum Wages Inspectors Association, (2010) 5 SCC 225 wherein it has been stated as under:-

"23. It is now well settled that parity cannot be claimed merely on the basis that earlier the subject post and the reference category posts were carrying the same scale of pay. In fact, one of the functions of the Pay Commission is to identify the posts which deserve a higher scale of pay than what was earlier being enjoyed with reference to their duties and responsibilities, and extend such higher scale to those categories of posts.")

(III) It is pertinent to mention here that the OM dated 13.11.2009 and 16.11.2009 came into existence as a result of demand from various quarters of Govt. seeking upgradation for pre-revised scale of Rs.6500-10500 due to functional requirement. However, hierarchical structure of Inspector Posts does not demand such functional requirement, as post of ASP in the scale of Pay of Rs.9300-34800 GP of Rs.4600/- PB-2 corresponding to the pre-revised scale of Rs.7450-11500 still exists, even after implementation of 6th CPC.

(Regarding the hierarchical differences, a viable proposal was submitted by DoP wherein it was clearly mentioned that the hierarchical difference i.e. non-availability of intermediary cadre like Assistant Superintendent Posts in CBDT/CBEC and CSS can be resolved by allowing Grade Pay of Rs.4600 to Inspector Posts in Department of Posts (a GCS Group B Non-Gazetted Post) and retaining its promotional cadre of Assistant Superintendent Posts (a GCS Group B Gazetted Post) also in the identical Grade Pay of Rs.4600. The example of AO, Sr. AO & ACAO was also given in the proposal. But, MOF overlooked the same.)

(IV) Since Inspector Post have come in the Pay Scale of Rs.9300-3400 GP of Rs.4200/- PB-2 corresponding to pre-revised scale of Rs.6500-10500, the hierarchical posts in their cadre i.e ASP and SP had to be placed in the GP OF Rs.4600/- and Rs.4800/- respectively to maintain the relativity in the cadre. Moreover, the scale of other similarly placed posts i.e Asstt. Manager and Manager in mail Motor Service were also placed in the GP of Rs.4600/- and Rs.4800/- respectively. In case the demand of Inspector Posts for GP of Rs.4600/- is accepted, it will have cascading effect involving huge financial implications. Also, the demand for upgradation from similarly placed posts in Mail Motor Service etc. will arise immediately.

(In the proposal, it was clearly mentioned that this would not involve upgradation in Grade Pays of Assistant Superintendent Posts and PS Group B. Asst. Manager & Manager, Mail Motor Service are placed in the Grade pay of Rs.4600 & Rs.4800 respectively. Hence the imagination of MOF that In case the demand of Inspector Posts for GP of Rs.4600/- is accepted, the demand for upgradation from similarly placed posts in Mail Motor Service etc. will arise immediately, is hypothetical. Further, while submitting the proposal, DoP had given the figures for financial implications and for Inspector (posts), it is Rs. 1.01 crores only. Hence the ground that in case the demand of Inspector Posts for GP of Rs.4600/- is accepted, it will have cascading effect involving huge financial implications, does not hold any ground.)

(V) The duties and responsibilities assigned to Assistant of CSS and Inspector, CBDT/CBEC are quite different from Inspector (Posts). There is no comparison between Assistants CSS & Inspector CBDT/CBEC and Inspector (Posts). They are performing different duties in their respective cadres.

(As a matter of fact, the duties and responsibilities assigned to different cadres in different Department / Ministries will be different and after comparison only, specific pay scale/grade pay is given to particular cadres by the expert bodies i.e Pay Commission. The details regarding comparison of “Duties & Responsibilities” of Inspectors CBDT/CBEC and Inspector (Posts) have been asked from MOF under RTI.
Further, Para 30 of CAT Ernakulam Bench Order dated 19.10.2011 in OA No. 381/10 reproduced below:
“This Tribunal need not have to labour more to arrive at the finding that the functional responsibilities of the Inspector (Posts) are certainly onerous and evidently, it is on the basis of adequate justification that the successive Pay Commissions have appreciated the need to revise the pay scale of Inspector (Posts).”

4. It is very much clear from the grounds given by MOF that they were pre-determined not to allow Grade Pay of Rs.4600 to Inspector Posts in any case and they simply overlooked the full justification given by the Hon’ble CAT Ernakulam Bench and also the good viable proposal given by DoP. It can also be seen that the matter was disposed first time at the level of Jt. Secretary even after the clear instruction from Hon’ble CAT to re-look in the matter at the level of Secretary. It is also evident form the notings of the DoP at 28/N, which is reproduced below:
“Views taken by Ministry of Finance, Department of Expenditure contains neither any details of examination of the proposal made by this Department on 17/N nor reasoning based on which the proposal was admitted/rejected.”

5. Accordingly the file was re-referred to the Department of Expenditure, MOF. However, Department of Expenditure, MOF returned the file stating that:


“The matter has been examined in this Deptt. and AM is advised to issue a reasoned speaking order rejecting the claim of the applicants on the grounds indicated in U.O note dated 28.05.2012.
This issues with the approval of Finance (Secretary).”

6. Our case for upgradation of Grade pay of Inspector (Posts) to Rs.4600 under OA No. 381/2010, had already been considered by Hon’ble CAT Ernakulam Bench within the parameters prescribed by the Apex Court in respect of the powers of the Tribunal in dealing with the fixation of Pay scale and had viewd that :

(a) The decision of the Ministry of Finance does not appear to have taken into account the clear recommendation of the Sixth Pay Commission nor for that matter the full justifications given by the Department of Posts.

(b) The Tribunal is of the considered view that there is no justification in denying the Inspector (Posts) the higher Grade Pay of Rs 4600 when the same is admissible to Inspectors of other Departments with whom parity has been established by the very Sixth Pay Commission vide its report at para 7.6.14 extracted above. The Ministry of Finance has to have a re-look in the matter dispassionately at the level of Secretary keeping in view the aforesaid discussion.

7. From the documents received under RTI, the rejection of our demand of Grade pay of Rs.4600 for Inspector (Posts) has been disclosed. However, we may wait for the official rejection letter. Further, we wish to move to High Court at the earliest, to get Justice.

Views and comments are requested, so that we may move further.

Thanks.
Permanand

“No Work, No Pay” will not apply to employees who were willing to work...


“No Work, No Pay” will not apply to employees who were willing to work...


Ruling on ‘no work, no pay’ principle

The principle of ‘no work, no pay’ will not apply to employees who were willing to work but not allowed to work by the employers despite valid judicial orders in favour of the workers, the Madras High Court Bench in Madurai has held.

Justice S. Manikumar passed the ruling while dismissing a writ petition filed by Madurai Municipal Corporation in 2004 challenging an award passed by a labour court in 1999 to reinstate a sanitary worker who was dismissed from service in 1995 for unauthorised absence from duty.

Pointing out that the sanitary worker S. Mariappan was reinstated only in 2007, without prejudice to the outcome of the present writ petition, despite the order passed by the labour court, the judge said that he was entitled to back-wages from 1999 to 2007. He could also not be penalised or denied wages for the fault of the Corporation in not reinstating him in service and providing work, the judge added.

Delving into the history of the case, he said that the sanitary worker was accused of not attending duty since June 1, 1990 without any intimation or a reasonable cause. A charge memo was issued to him on December 31, 1992 .

There were certain defects in the memo. Therefore, another charge memo was issued on December 29, 1994. The worker submitted his explanation and claimed to have been suffering from jaundice. He also produced medical records to substantiate his claim. However, he was held guilty in the domestic enquiry and dismissed from service. The dismissal order was challenged in the labour court on many grounds including violation of principles of natural justice.

The labour court, after considering the applicant’s good record of service, condoned his solitary misconduct of unauthorised absence and ordered reinstatement without back-wages and hence the present case. Mr. Justice Manikumar said that the Corporation, which had accused its worker of absenting without a reasonable cause, itself was guilty of dragging on the issue for years together. The judge pointed out that even the disciplinary action was initiated after a delay of four years.

Further, the corporation had filed the present writ petition after an unexplained delay of five years from the date of the award passed by the labour court. The worker was reinstated in service only on August 8, 2007 without prejudice to the outcome of the writ petition which ended up in dismissal now.

Source: The Hindu

Education loan: 5 smart things to know


Keep the following points in mind before taking an education loan.

1) Banks provide education loans to pursue academic and job-oriented courses approved by them. They cover the tuition fee, hostel expenses, books and useful equipment, travel for overseas courses and other expenses essential to completing the course.

2) The maximum amount of the loan ranges from Rs 10 lakh for Indian courses to Rs 20 lakh for studies abroad. Banks may consider a higher loan depending on the course. Margins are required for loans more than Rs 4 lakh.

3) Parents are required to be joint borrowers for all loans. If the loan amount is more than Rs 7.5 lakh, tangible assets are required as collateral security. For loans between Rs 4 and Rs 7.5 lakh, a third-party guarantee may be required.

4) Repayment commences one year after the course ends or six months after the candidate gets a job, whichever is earlier. The EMIs are calculated with a tenure not exceeding 10 years for loans up to Rs 7.5 lakh, and 15 years for higher amounts.

5) The entire interest paid on the education loan is tax-deductible under Section 80E. The deduction for interest payment is available for eight consecutive years, the first year being the year in which the repayment starts.

Content Courtesy: Centre for Investment Education and Learning
Source : http://economictimes.indiatimes.com

Five tips to secure your retirement corpus


Most people fail to save adequately for retirement since the goal seems to be in the distant future. However, if you want to build a sizeable retirement corpus, you must start early and review your portfolio regularly. ET lists some ways to financially secure your sunset years.

Fix corpus, choose investment avenue 

As with any goal, the first step is to calculate the amount you want in the given time. This will depend on your current lifestyle and the number of years for which you want an income after retirement. Since building aretirement corpus is a long-term goal, your investments will vary accordingly, and the earlier you start, the better it is. So, at 35 years, if your monthly expense is Rs 50,000 and you want to maintain this level for 15 years after retirement, you will have to invest Rs 29,112 a month (at an annualised return of 10% and inflation rate of 6%).

However, a 45-year-old will have to invest Rs 93,196, while a 25-year-old will have to invest only Rs 10,174 a month. If you start saving early, ensure that at least 75% of the monthly investment is in equity. For the debt portion, you can depend on your monthly contribution to EPF and investment in the PPF. If three-fourths of a portfolio in equity is too risky for you, invest about 30% of your surplus in debt mutual funds. Review the portfolio regularly to ensure your investment is on track.

Repay debt before you retire

When you retire, chances are that you will have no regular income. In such a scenario, it is important that you are not stuck with any loan repayments as these will deplete your savings fast. So, if you've taken a home loan, make sure that you repay the entire amount before you hang up your boots, even if it means paying a higherEMI to reduce the tenure. In the case of insurance, there will be few policies that will be mandatory even after retirement, such as car insurance, but for other insurance like a health plan, ensure that you buy these early, because the older you are, the higher the premium that you will be required to pay.

Tweak your portfolio

Investing in equity is important for creating a retirement corpus as it gives good returns. However, as you shift closer to sunset years, reduce the equity portion and increase debt in your portfolio. This is essential because preservation of your corpus becomes more important than its appreciation. So, if you start investing at 35 years, 75% of your portfolio could be in equity, but at least five years before you retire, equity should not comprise over 40% of the portfolio. You can either use systematic withdrawal plans to shift the money from equity to debt instruments, or move a sizeable part of corpus to bank deposits. However, just because you are retiring does not mean that you have to give up on equity entirely; invest 15-20% of your portfolio in equity funds.
 Build a contingency fund

A medical emergency can cripple the best of finances, and for retirees, it could be disastrous. Besides, there are very few health insurance options for retirees, and the ones that are available, are expensive or offer small covers. In fact, most health insurance plans end at the time of retirement. It is worse for people who depend on the health plans provided by their employers during their working lives. It's best to buy a health plan early, but apart from this, you must also keep a contingency fund, usually 5% of the total corpus built, for medical emergencies. This should be put in a liquid fund so that it is available readily.

Bank on reverse mortgage

The best laid plans can go awry. Whether it's a child's higher education or a medical exigency, you may suddenly find yourself short of the planned retirement corpus. If you find yourself in such a situation, and own a house, the safest way to get a regular stream of income is to reverse mortgage it. Under this scheme, home owners above 60 years of age can convert a part of their self-owned home into income without having to sell it.

The bank calculates the value of the house and fixes a percentage of its current value as loan amount. This is based on parameters, such as the likely lifespan of the senior citizen and his spouse. Typically, the loan amount is 60-70% of the market value of the property, which will earn you a good income. After you and your spouse die, the house is sold by the bank to recover the loan amount, and the balance is given to your heirs. Alternatively, your heirs could buy the house from the bank. 
Source : The Economic Times,  Sept 17, 2012

Study Leave for Jawaharlal Nehru Memorial Fellowship and other Fellowships offered by reputed Institutes


RBE No.98/2012

GOVERNMENT OF INDIA 
MINISTRY OF RAILWAYS 
RAILWAY BOARD

No.2012/F(E)-III/2(2)/1

New Delhi, Dated 07.09.2012

The GMs/FA & CAOs, 
All Indian Railways/Production Units. 
(As per mailing list)

Subject : Study Leave for Jawaharlal Nehru Memorial Fellowship and other Fellowships offered by reputed Institutes.

Copies of Department of Personnel and Training (DOP&T)’s O.M.s No.4(1)-E.IV(A)/75 dated 07.06.1976, No. 3023/13/82-Estt(L) dated 29.09.1983 and No. 13023/2/2008-Estt.(L) dated 01.09.2011 on the above subject are enclosed for information and compliance. These instructions shall apply mutatis mutandis on the Railways also. Rules 51, 57 and 59 of Central Civil Services (Leave) Rules 1972 mentioned in the above OMs correspond to Rules 2, 8 and 10 of Study Leave Rules, under Appendix V of Indian Railway Establishment Code Vol. I., 1985 Edition.

2. Please acknowledge receipt.

DA: Three.

No. 2012/F(E)-III/2(2)/1

sd/- 
(Sukhender Kaur) 
Joint Director Finance (Estt.) 
Railway Board.

Source : AIRF

PROVISION OF ECHS FACILITIES TO EX-SERVICEMEN OF ARMY POSTAL SERVICE (APS) WHO WERE REPATRIATED TO THEIR PARENT DEPARTMENT OF POSTS AFTER COMPLETION OF AGE LIMIT/PENSIONABLE SERVICE/ON COMPLETION OF INITIAL TERMS OF ENGAGEMENT.


Tele: 23336735                                                                      Central Orgonisation ECHS
ASCON: 36735                                                                      Adjutant General’s Branch
                                                                                                Integrated HQ og MoD(Army)
                                                                                                Maude Lines
                                                                                                Delhi Cantt-10
                                                                                                                                   
B/49701-PR/AG/ECHS/                                                                                         20 Mar 2012

IHQ of MoD (Navy)/Dir ECHS (N)
Air HQ(VB)/DPS
HQ Southern Command (A/ECHS)
HQ Eastern Command (A/ECHS)
HQ Western Command (A/ECHS)
HQ Central Command (A/ECHS)
HQ Northern Command (A/ECHS)
HQ South Western Command (A/ECHS)
HQ Andman & Nicobar Command (A/ECHS)
All Regionnal Centres

PROVISION OF ECHS FACILITIES TO EX-SERVICEMEN OF ARMY POSTAL SERVICE (APS) WHO WERE REPATRIATED TO THEIR PARENT DEPARTMENT OF POST AFTER COMPLETION OF AGE LIMIT/PENSIONABLE SERVICE/ON COMPLETION OF INITIAL TERMS OF ENGAGEMENT.

1.         Ref Hon’ble Armed Forces Tribunal (AFT), Regional Branch, Chandigarh Order dt.  26 Mar 2010 in TA No. 110 of 2009 (arising out of CWP No. 15237 of 2009, TA No. 52 of 2009 (arising of CWP No. 14112 of 2009 and GOI, MoD OM No. 1(a)/2010/D (Res-1) dt. 20/21 Jul 2011 (Copies enclosed)

2.         Ex-Servicemen status has been granted to personnel of Army Postal Service (APS) who were on deputation in Army for more than six months prior to 14 Apr 1987 vide GOI, MoD OM No under ref with all consequential  benefits. List of the affected personal is attached as APPX A. Consequent to AFT Orders and MoD OM the above personal can now approach various Stn. HQ / Regional Centres for grant of ECHS membership.

3.         All concerned are requested to scrutinize the  documents mutinously and accept applications for ECHS membership only from individuals who full fill the twin conditions of being an ex-servicemen and a Govt. pensioners.
(Gulshan Chadha}
                                                                                                         Lt. Col.
                                        Jt. Director(Pers)
                                                                                                                     For MD ECHS

Copy to :
Addl. Director General of APS   : for information please.
PIN-908700 C/O 56 APO