Unions pitch for hiking I-T exemption limit to Rs 5 lakh/annum.

The I-T exemption limit for individuals stands at Rs 2 lakh per annum at present

   Trade unions today demanded 12% interest on PF contributions of employees and a hike in income tax exemption limit to Rs 5 lakh in their pre-budget meeting with Finance Minister P Chidambaram.

   The unions have also asked the government not to raise FDI cap in financial sectors like insurance and banking.

   The I-T exemption limit for individuals stands at Rs 2 lakh per annum at present.

   Several unions, including CITU, AITUC, INTUC and BMS, in a joint memorandum to Chidambaram have expressed their opposition to the banking reforms bill saying it would encourage private banking at the cost of public sector banks.

   They also demanded that a progressive taxation system be put into place and concrete steps be taken to recover large accumulated tax arrears, effective measures to unearth huge accumulation of black money, including the unaccounted money in tax heavens abroad.

   Chidambaram, while making his opening remark at the meeting with the representatives of 12 trade unions, said that a slowdown in the manufacturing sector is creating unemployment and there is a need to create job opportunities.

Payment of Performance-related pay (PRP) to executives of Central Public Sector Enterprises (CPSEs).

F. No. 2(68)/11-DPE (WC)
Government of India
Ministry of Heavy Industries and Public Enterprises
Department of Public Enterprises

Block No.14, CGO Complex,
Lodi Road, New Delhi-110003
Dated the 31st December, 2012

OFFICE MEMORANDUM

Subject:- Payment of Performance-related pay (PRP) to executives of Central Public Sector Enterprises (CPSEs)

   The undersigned is directed to refer to Ministry of Housing & Urban Poverty Alleviation O.M. No 1-14020/1/2011-HR dated 7th September, 2011 and subsequent reminders on the subject mentioned above.

   2. There are laid down guidelines providing for timely completion of the process of recording of Annual Performance Appraisal Reports (APARs) of executives of CPSEs and therefore all attempts should be made to finalize the APAR ratings of individual executives by following the laid down process as APAR ratings determine the payment of PRP. In the absence of APAR ratings, it would not be possible to pay PRP in terms of extant guidelines.

Employment News Weekly Updates From (05th January to 11th January 2013)

Job Highlights (05 - 11 Jan 2013)

   1. Damodar Valley Corporation requires 95 Executive Engineer and Senior Divisional Engineer. Last Date : 28.01.2013

   2. Allahabad UP Gramin Bank requires 57 Officer Scale-I Last Date for online registration : 08.01.2013
 
   3. Surguja Kshetriya Gramin Bank Chattisgarh requires 33 Officer Scale-II, Officer Scale- I and Office Assistant (Multi Purpose ) Last Date : 18.01.2013