Saturday, 7 January 2023
बजट में नौकरीपेशा के लिए बढ़ सकती है 80सी में छूट की सीमा, 75,000 रुपये हो सकती है स्टेंडर्ड डिडक्शन की सीमा | StaffNews
बजट में नौकरीपेशा के लिए बढ़ सकती है 80सी में छूट की सीमा, 75,000 रुपये हो सकती है स्टेंडर्ड डिडक्शन की सीमा | StaffNews: बजट में नौकरीपेशा के लिए बढ़ सकती है 80सी में छूट की सीमा, 75,000 रुपये हो सकती है स्टेंडर्ड डिडक्शन की सीमा
India’s Economy: The Satellite Photo Tour
. interesting satellite photo proof of India's infrastructural development during the last 8 years.C H MahadevanRangarajan T.N.C.It's easy enough to find lengthy and legitimate lists of concerns about India's economic growth. But these kinds of images make clear that India's growth is indeed very real.https://conversableeconomist.com/2022/02/14/indias-economy-the-satellite-photo-tour/?
GST on health care services to senior citizens at their door step
GST on health care services to senior citizens at their door step: In re Snehador Social & Health Care Support LLP (GST AAR West Bengal) Whether the services rendered by the applicant for health care to senior citizens at their door step comes under exemption category and what will be the classification of such services? Services of regular medical monitoring along with other logistic support as provided […]
Friday, 6 January 2023
EPS 95 Scheme – Eligibility For Higher Pension
EPS 95 Scheme – Eligibility For Higher Pension: 1. The EPFO vide Circular dated 29 Dec 2022 lays down the eligibility criteria for employees seeking higher pensions under EPS 95 Scheme. The circular is issued to comply with the Supreme Court’s direction vide judgment pronounced on 04.11.2022 2. Para 44(ix) of the said judgment stipulated that the fund authorities shall implement the directives […]
An Appeal to Chairperson, LIC
Respected & Revered LIC Chairperson Sri M.R.Kumar Sir,
Kindly hasten resolution of Pensioners' genuine & modest demands :
I) LET LIC,EVEN IN ITS NEW AVATAR,AFTER LIC MEGA IPO ROLLED OUT ,WITH NEW FOUND STRINGENT SUPERVISION & CONTROLS ,ZOOM TO GREATER HEIGHTS OF GLORY UNDER ABLE CREATIVE DIGITAL REVOLUTION & CONFIDENCE & TRUST OF CRORES OF POLICYHOLDERS,TASTING NOT CUSTOMER DELIGHT,NOT CUSTOMER THRILL but REALLY ENJOYING FOR WHOLE FAMILY CUSTOMER ECSTACY ,
WITH SHARPER COMPETETIVE EDGE,ON EQUAL TERMS WITH PRIVATE INSURANCE COMPANIES,EVOLVE TO FULLEST BRIM OF EFFICIENCY & EFFECTIVENESS UNDER TOP MANAGEMENT VISION & MISSION STATEMENT WITH CHANGED PARAMETERS .
II))AS A FRATERNITY OF PENSIONERS,WE SOLEMNLY AFFIRM THAT IN MANY WAYS,WE ACT AS AMBASSADORS OF LIC & WITH EMINENT PUBLIC RELATIONS CARRY ON THE TORCH OF YOGAKSHEMAM VAHAMYAHAM & THE BEST WELL KNOWN 3 LETTER WORD L I C WILL ROCK IN NUMERO UNO 1ST POSITION IN RANKING OF INDIVIDUAL & GROUP INSURANCE & INDEED NATIONAL INTEGRATION & BOOMING ECONOMY FOR WHICH LIONS SHARE OF CREDIT UNDOUBTEDLY MUST FLOW TO LIC & LIC ONLY
OUR FERVENT PRAYERS FOR SPECTACULAR,UNALLOYED FRESH INNINGS IN FUTURE TOO .
III)IN VIEW OF PENSIONERS POSITION OF UNSETTLED CRUCIAL ISSUES & GENUINE GRIEVANCVES,BEING TACKLED BY YOU &ALL TOP MANAGEMENT WITH ZEAL & ZEST,YET SIR,DELAYED & MUST NOT PROVE ELUSIVE,AS MANY PENSIONERS`,app 22,000 & MORE HAVE DIED & ARE DYING,PENSIONERS GOT NO ARREARS,LITTLE IR ARREARS of Group 1 & 2 Pensioners got through Delhi HC Verdict,referred to them by SC, was also recovered by LIC,in spite of Para 108 of DHC Verdict not to deduct any amount from IR granted.
GRATUITY WAS TOO POOR Rs 2.5lacs,Rs 3.5 lacs,but Later Rs10 lacs & wef 29/3/2018 ONWARDS Rs20 LACS.
IV) 1)FURTHER,SIR,TIME IS RUNNING OUT,as you have fully grappled with pros & cons of every issue & hence, PLEASE ENSURE THESE ELDERS,SR CITIZENS, SUPER SR CITIZENS secure Family Pension revised, at 30 % of LAST DRAWN Basic PAY OF RP, Banks got FP small arrears wef 1/4/2021, more than 12 months before & NABARD & RRBs revised FP Vide DFS Order dt 28 Dec 2022,wef 1/4/2021. It will be in the fitness of things that when Govt announced Defence personnel OROP to be Revised ,Retrospective wef April 2019, FP Revision for LIC in fairness must be given from the Date of Board Resolution 9/2019.
2) Death of RP.Family Pensioner must get Full Pension & so existing 58-65 yrs be shifted 60-67 yrs
3) we have been repeatedly conveying ,Agerelated rise in Basic Pension at 80,85,90,95 & 100,rise of 20%,30,40,50 & 100 % which appears to be accepted but not released & most adversely affected Group is a small number as many have gone to Heaven.Outlay on this surviving Super Sr Citizens will be moderate& really meagre only.
4)We also submitted that Pensioners & spouse are spending heavy amounts for Domiciliary expenses, Consultation & Prescriptions once,twice or more , gets exhorbitant in relation to the Pension amount,already Meagre & so with modesty pleaded for CMB Cash Medical Benefit on SAME LINES as for EMPLOYEES,Class 3&4,Rs9800pa,Class2 Rs12,300pa,& Class 1,BP upto Rs99,000 CMB of Rs 19,600 & those above that BP, Rs 29,400.As the numbers are less in Class1 & higher in Class 3 & 4, 65,000 Pensioners,the outlay is moderate & easily affordable by LIC. When this is granted to Employees already ,it becomes imperative , on principles of equity & morality to more-deserving Pensioners,Elders & SR/Super Sr Citizens & Founders.At any rate,it will be miniscule compared to Meals Coupon for All Employees per annum amounting to Rs 600cr app.
5)IN fact,Sir,the July 2019 Board Resolution still not honoured of accepting Last Drawn Basic Pay or Average of Last 10 months Basic Pay,whichever is higher /or acceptable by retiree pensioner,period falling in between 2 wage agreements.
GOI DEPT OF PENSION GRIEVANCE compelled IBA to implement , WHEN 2ND PENSION OPTION was granted, as they failed to implement,Unions OBJECTED, & SUCH ANAMOLIES DISAPPEARED THANX to FIXING LAST DRAWN PAY or AVERAGE 10 MONTHS WHICHEVER IS HIGHER.
WHY NOT LIC ALSO allow such a CLARIFICATION ORDER ,SETTING RIGHT SUCH ANAMOLIES, which will once for all resolve this long-pending genuine grievance .
6) Please pardon us as time is flying & customary talks with NEW INDIA for modifications to Group Medi Claim takes place,considered views of AIRIEF & other Pensioner Fedns be processed,
a)MUST to allow,please, those still NOT in the ambit of Mediclaim,not a big number, to be given OPTION &
b) we find summary disposal & rejection by NI of Modern Technological devices or appurtenances prescribed by Qualified Physicians/Surgeons NOT ACCEPTED by NI. It must be realised that such cases will be few at advanced level of disability or illness involved & so ethically & morally to be approved & included in such Benefits.
c)When RP dies,FP finds it difficult to pay existing heavy premium & hence compel NI to allow whatever OSA the poor FP now needs ,which looks ethical & real & not the Proportionate rule,which allows only 1 scale reduction.
V) RBI Governor,it seems, okayed Govt/DFS calling for specific reply/consent to Pension revision with every wage revision, but LIC Chairperson silent when Fedns approached .When as a matter of continuing the positive & empathetic speech of Hon FM at IBA ceremony of wage accord ,when she said that Older pensioners deserve an uplift &must get fitment in Same Cadre Pay with equal stage increments.She also added Family pension being too low deserve higher FP without any Ceiling. Even old CCS Pension Rules 1972 on which our Pension Rules 1995 is based, was amended as CCS PR 2021 with Rule 6 providing Pension Revision with Every wage Revision,Sir, your positive consent would have had tremendous impact for present & future Pension upgradation in LIC for the frustrated & beleagured pensioners.You are aware that Family Pensioners Numbers to RegularPensioners have risen high from 20% to 45% & in some Zones to 50%. For none else, Time is so important & critical, as for Pensioners-Regular & Family.
VI)a) Just as closing the Settlement of Wages with accord.Sir,so it must happen for we Pensioners too who with sweat &toil worked diligently for LIC & after retirement in consonance with sound objectives for Elders, Senior Citizens & Super Sr Citizens ,as we richly deserve what we crave for,modest,genuine & legitimate.
b)"The saga of LIC spread over more than 6 decades,66years & 2 different eras ," is one that equally astonishes ordinary people as well as our toughest critics. In a world full of stories of failing brands & failing institutions,LIC stands tall as an example of a team that has evolved & adapted to changing times with agility & speed, & has succeeded in retaining its relevance & leadership .I thank you & compliment you & I feel a sense of gratitude towards all past & present LICians whose contributions have made this possible." A true & telling observation,endearing Chairperson,Sir . We are confident LIC will make rapid strides in2022- 2023 & IN FUTURE too & more glittering & sparkling in the New regime post restructuring LIC 3.0
VII) GREETINGS,GOODLUCK & GODSPEED in all your earnest endeavours,& awaiting positive closures of modest demands of All Groups of Pensioners, to herald a turn of the tide for beleagured pensioners to enjoy the twilight of their lives in peace,harmony & tranquillity, as a true LICian .
Respectful Regards,
TO: Sri M.R.KUMAR,CHAIRPERSON, LIC
R.B.KISHORE,
ED(Retd),LIC.
PATRON,RIEA CHENNAI
PATRON, AIRIEF
.
Thursday, 5 January 2023
RBI FORMULA NOT FOR US; MULTIPLIER FACTORS TOO LOW,FITMENT MISERLY,LOSS OF ARREARS OF PENSION shout RBI Pensioners Rs 25--65 lakhs,FPensioners totally omitted,see latest DECEMBER 2022 ,HIGUJ MLY SENT & GS RBREA Pathetic recollections 7 redoubtable efforts
RBI FORMULA NOT FOR US; MULTIPLIER FACTORS TOO LOW,FITMENT MISERLY,LOSS OF ARREARS OF PENSION shout RBI Pensioners Rs 25--65 lakhs,FPensioners totally omitted,see latest DECEMBER 2022 ,HIGUJ MLY SENT & GS RBREA Pathetic recollections 7 redoubtable efforts
FROM MY ARCHIVES :
I) i) Hitguz ,Mly HM ,RBREA portrays the interpretation of RBI Circular to implement Govt Notification for RBI Pensioners to secure PU prospective from March 2019 with Multiplier Factors of 1.8, 2.4, 3.6app for the earlier 3 Groups , 1Nov 2012- 31Oct 2017, 1 Nov 2007-31Oct 2012,& 1 Nov 2002- 31 Oct 2007 Pensioners Group .
RBKishore: Normally after regular& consistent PU as per wage revision,Subsequent wage revisions do not entail or impose high Pension fixation or arrears but only moderate for any institution to withstand & absorb such rise.
ii)In view of partial PU granted earlier upto 2002,& a long gap of 17 years now, as wonderfully charted out in the real impact & rise of Revised Pension plus New DR , some RBI pensioners have pointed out that though there is a good rise, as static Pension for long was the order of the day, it has not taken care of to the extent to redeem or cover substantial Loss of Pension prepared & calculated much earlier for RBI Pensioners, Rs 2.50 lacs to Rs 65 lacs, to bemoan how 7 steps below grade officer or staff get more Pension than their Superiors under whom they worked .
RBK: SO, deeper we go to older Wage Blocks for corresponding PU to be real to have a Cascading effect ,the factor Multiplier should have been much Stronger & Higher to create lasting effect for all the years & decades of delay, procrastination& frustration of Pensioners .
iii)Discrimination & anamolies not having been addressed ,for aged pensioners ,by a realistic solution of going to the root of the problem ,whereby normal legal dictum, of Effective Date to be from the original date when these anamolies & discrimination by arbitrary & artificial creation of Pensioners Groups by benefit to some & denial to others emerged.
iv)Further incalculable damage is done by IGNORING Family Pensioners in Govt Notification & RBI Circular.Actually it needs no elucidation.
RBK: It is crystal clear that PENSIONERS automatically means Regular Pensioners & Family Pensioners.Everywhere there is echo of sympathy for Family Pensioners & they form an important part of the loop of pensioners.
v) RBK: Not only that.,always, even if Regular Pensioner is no more,any benefit granted to RP from a particular Effective date must be eligible to be paid to Spouse FP till date of death & none can deny this. Even if FP Spouse is no more,FPs nominee or legal heir must secure that benefit as a matter, of course.
vi) RBK : This has to be taken care of ,as FP numbers everywhere is increasing..FP in LIC has risen from 18% to 35 % of RP & in some Zones ,even to 40 % of RP. We have app 60,000 pensioners & 18,500 pensioners have died or dying.Who will wipe the tears of the widow ?
So, non –inclusion of FP now by Govt is not an aberration but a mischievous &deliberate blunder to distort & confuse ,
Govt pensioners under 7th PC got benefit of PU,for BOTH RP & FP. Question of segregation does not arise.
II) a) 7th CPC formula for revision of pensions and family pensions to be based on the number of increments to one of notional updation of the basic pay of each of the retiree or dead employee on each of the pay revisions effected after his retirement or death and finally on 7th CPC scales of pay for the post last held.
In its circular dated 12th May 2017 it was stated as under:
3. In accordance with the decision mentioned in this Department's Resolution No. 38/37/2016-P&PW (A) dated 04.08.2016 and OM No. 38/37/2016-P&PW(A) (ii) dated 04.08.2016, the feasibility of the first option recommended by 7th CPC has been examined by a Committee headed by Secretary, Department of Pension & Pensioners' Welfare.
4. The aforesaid Committee has submitted its Report and the recommendations made by the Committee have been considered by the Government. Accordingly, it has been decided that the revised pension/family pension w.e.f. 01.01.2016 in respect of all Central civil pensioners/family pensioners, including CAPF's, who retired/died prior to 01.01.2016, may be revised by notionally fixing their pay in the pay matrix recommended by the 7th CPC in the level corresponding to the pay in the pay scale/pay band and grade pay at which they retired/died. This will be done by notional pay fixation under each intervening Pay Commission based on the Formula for revision of pay. While fixing pay on notional basis, the pay fixation formulae approved by the Government and other relevant instructions on the subject in force at the relevant time shall be strictly followed. 50% of the notional pay as on 01.01.2016 shall be the revised pension and 30% of this notional pay shall be the revised family pension w.e.f. 1.1.2016 as per the first Formulation. In the case of family pensioners who were entitled to family pension at enhanced rate, the revised family pension shall be 50% of the notional pay as on 01.01.2016 and shall be payable till the period up to which family pension at enhanced rate is admissible as per rules. The amount of revised pension/family pension so arrived at shall be rounded off to next higher rupee.
The change in formula for revision was necessitated because of the absence of records on increments drawn by the pensioners in their last posting and many instances of anamolies were observed by applying the 7th CPC formula. As you know similar notional updation was done of the basic pay of all those who retired or died prior to 1-1-1986(ie date of 4th CPC) as recommended by the 5th CPC for GOI pensioners under its modified parity formula. This process has been carried forward till the date of 1-1-2016.
b) Thus the glaring disparity in pensions and family pensions among the pensioners retiring in different pay scale periods has been completely eliminated and each one is treated as having retired notionally on 1-1-2016 on the notionally revised pay on the 7th CPC scales. Thus a precedent has been set up for updation of pensions and family pensions on complete parity formula and it will be the norm for future revisions.
c) While GOI pensioners are laughing all the way to their banks because of the bounty, we are very sad at the inordinate delay in getting similar justice on the same issue of revision for us. Those who retired much earlier are very much affected because of the poor scales of pay at which they retired. and are drawing only one third of the pensions which a current retiree in the same grade post is getting.
Any arbitrary formula or conditions detrimental to those Pensioners hoping to secure preferred continued Pension after deadline conditions are fulfilled with less cheers & more tears, it becomes Hobson's choice as this is the Lastest opportunity dangled before them -- to be or not to be .
*** d)As compared to that, the rate of revision approved for RBI @10% of basic pay plus DA is very small for each pay revision and even after revision the disparity in pensions among the pensioners will persist.
At least the revision for the Nov 2017 pay revision ( which is yet to be approved) is done on the same complete parity formula applied by the GOI for its own pensioners. RBREA must succeed.
III ) i)In addition, age-related, value-added rise in pension at age 80,85,90,95 & 100 @ 20%,30,40,50 & 100 % both for RP & FP must be secured & RBI Management must not miss for RP now & later after you succeed to include FP also with Governor,RBI & Govt.
ii)Govt in VII PC allowed PU 2.57 times Basic Pension for pre 1/2006 pensioners,all RP & FP,plus this time even stage to stage fitment with number of increments secured in earlier cadre allowed & added . Such salutary & salubrious formula ,they deny when it comes to Service & Financial Institutions which are real engines of growth & which enrich the coffers of Govt for national progress & prosperity.Even loss-making PSUs of Govt are granted PU .
iii) RBI Pensioners are fortunate that FP Formula is identical with GOI Pay Comn Formula,which bestows some aura of respectability .But we Insurance & brethren Bank pensioners suffer from restrictive FP formula ,making it the lowest FP for all cadres in history. Not only that ,we insurance pre-8/1997 pensioners are suffering from DR inequity in as much as Full or 100% DR is yet to be granted. PU & this issue is in final stages of SLPs in SC .20 years legal battle,a shame & a blot on all Govts for allowing any number of adjournments,procrastination & violation of their own so-called National Litigation Policy ,even when 3 HCs had given favourable verdict for Twin benefits of Full DR & PU for all groups of pensioners.
IV)Please refer to RBK-1 Points & Issues ,on OUTLAY.We note AIRIEF & LIC outlay almost tallied till 2016,Rs 3099cr roundedoff,for RP 32,902 .Outlay for FP No13,374 was Rs 337cr for 19 years.,in all Rs 3436cr for TP 46,276 .LIC in its Affidavit in SC 1/2018 affirmed PU Arrears for 47,000 pensioners as Rs 3162cr & additional Rs5135cr for present & future incoming pensioners.
When years roll by,when only Hly DRs were paid, when 28 years, we drew SAME PENSION, when we are in wayback IV PC Mode,ridiculous to be treated for any Elder or Sr Citizen, crushing him with such poor pittance of a miserly pension,18.500 pensioners have died &are dying, it behoves SC to expedite FINAL phase hearing & act ** decisively with concrete Orders for PU & FULL DR.
**** One should not be weighed down by subsequent fast increase in Outlay with high DR slabs .We reiterated earlier 1 Additional Group of pensioners included also, as even with delay & adjournmrnts 5 year period is crossed,so meandering & tortuous,Between 31/7/2016 & 31/1/2019 , ie 2.5 years added,RP 33,183, Rs 5817.82 cr ie 5818cr for 21.5 years ,rise of Rs2719cr.but Average per annum outlay is a mere Rs270.61cr ie Rs271cr pa only.
IV )UNLESS Pensioners ' Orgns & Petitioners SAIL in SAME DIRECTION with a UNIFORM, NON-CONTRADICTORY voice & submissions on Meeting of all of them on 4/2/2020 & SC SLP Hearing on 5/2/2020 ,with a combined massive force, to face the powerful enemy,we play to others tunes & tricks & emerge as VICTIMS, not VICTORS . GOD FORBID.
6) i) The Hon'ble Kerala High Court made a striking observation, …"the status of the Corporation(KSWC) as a jurist person, as a body corporate with a common seal and its existence would be scuttled and subservient to the dictates of the Government, as if the Corporation is a department in the Government. This is plainly impermissible."
ii)Hon'ble Mr.Justice V.Gopala Gowda pronounced the judgment of the SC Bench comprising His Lordship and Hon'bleMr.Justice C.Nagappan,
" When this Court decides questions of law, its decisions are, under Art. 141, binding on all courts within the territory of India, and so, it must be the constant endeavour and concern of this Court to introduce and maintain an element of certainty and continuity in the interpretation of law in the country. Frequent exercise by this Court of its power to review its earlier decisions on the ground that the view pressed before it later appears to the Court to be more reasonable, may incidentally tend to make law uncertain and introduce confusion which must be consistently avoided. -SIGNIFICANT & at appropriate moments during Hearing,our Sr Counsel must reiterate this golden truth & pragmatism of SC observations & drive home the end result of Victory in Pensioners favour.
Also, to quote Mr Lyndon Johnson, the ex President of US " You do not examine legislation in the light of the benefits it will convey if properly administered but in the light of the wrongs it would do and cause if improperly administered."
These are all very relevant & powerful submissions for hearing in SC on 5/2/2020
FROM :MY ARCHIVES :RBK
--
RB Kishore,
PATRON,AIRIEF,
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