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The just-announced <keyword id="22906567" type="General" weightage="100" keywordseo="Unified-Pension-Scheme" source="keywords">Unified Pension Scheme</keyword> for central <keyword id="19933272" type="General" weightage="20" keywordseo="government-employees" source="keywords">government employees</keyword> will be available only for those who are currently subscribers of the New Pension Scheme (NPS), including retirees. The new scheme guarantees employees 50% of their average basic pay over the last 12 months before retirement, as a pension for a minimum qualifying service of 25 years against a market returns linked payout under the NPS. According to the scheme approved by the Union Cabinet, the pension will be proportionate for a lesser service period of up to a minimum of 10 years. Also, assured pension of Rs 10,000 per month on superannuation after a minimum of 10 years of service will be provided. The scheme has been brought out to address the concerns of government employees over NPS, which came into effect from January 1, 2004. Under the <keyword id="3246232" type="General" weightage="20" keywordseo="Old-Pension-Scheme" source="Orion">old pension scheme</keyword> (OPS), effective before January 2004, employees got 50 % of their last drawn basic pay as pension. Unlike the old pension scheme, UPS is contributory in nature, wherein employees will be required to contribute 10% of their basic salary and dearness allowance while the employer's contribution (the central government) will be 18.5%. Under the NPS, the employer contribution is 14%, and the employee contribution is 10%. However, the eventual payout depends on the market returns on that corpus, mostly invested in government debt. Employees, under the OPS, were not required to make any contribution. They, however, contributed to the General Provident Fund (GPF). The accumulated amount, along with interest, was paid to the employee at the time of retirement. As the NPS was less attractive than the OPS, several non-BJP-ruled states decided to go back to the old pension scheme, which offered a DA-linked benefit. This prompted the Centre to constitute a committee in April 2023, under former Finance Secretary and now Cabinet Secretary-designate TV Somanathan to suggest improvement in the NPS architecture. Fulfilling the long pending demands of government employees ahead of assembly elections in Haryana and Jammu and Kashmir, the Union Cabinet on August 24 approved the UPS, which will provide assured pension to 23 lakh eligible central government employees. Those opting for the UPS will not be able to switch back. The UPS will put an additional burden of Rs 6,250 crore on the exchequer per year. The expenditure will vary every year according to variations in the number of employees. In addition, there will be an arrear of Rs 800 crore that has to be paid under the National Pension System (NPS) to employees retiring before March 31, 2025. If these retirees opt for UPS, they will receive arrears. "UPS is being implemented by the Central Government, benefitting 23 lakh central government employees," Information &amp; Broadcasting Minister Ashwini Vaishnaw said on X on Sunday. If states also adopt the UPS architecture, a total of over 90 lakh government employees, who are presently on NPS, would be benefitted, he added. On Sunday, Maharashtra, where assembly elections are due later in the year, became the first state to announce the adoption of the UPS for its employees. RSS-affiliate Bharatiya Mazdoor Sangh (BMS) said though the government has attempted to overcome the shortcomings of the NPS, there are still some issues compared to OPS. BMS will decide its future course of action only after a detailed study of the UPS after it is notified. All India Trade Union Congress (AITUC) said it is nothing but an extension of the existing NPS. The trade union expressed apprehensions that UPS will have a lot of aberrations once implemented. AITUC reiterated that it will continue to fight for the restoration of the non-contributory OPS. ICRA Chief Economist Aditi Nayar said assured pensions will add to the government's committed expenditure in the future while reducing the uncertainty for employees. "This will have to be built into the fiscal consolidation roadmap going ahead," Nayar added. The UPS reflects a thoughtful approach to long-term social security, addressing concerns about the adequacy and sustainability of pension benefits in a rapidly changing economic landscape, said Shardul Amarchand Mangaldas &amp; Co Partner Dorothy Thomas. "This move signals the government's commitment to providing robust support for its workforce, enhancing financial stability for millions of government employees across the country," Thomas said.

Over 23 lakh govt employees under NPS get option to choose unified pension scheme

<ul><li>Millions of government employees across multiple state-owned companies are either anxious, ready to protest and have even taken to roads — to make sure they get their due. </li><li>Thousands of employees have taken to roads, protesting over delays. </li><li>As many as 25,000 home guards in Uttar Pradesh police department lost their jobs overnight. </li><li><keyword id="86569" type="COMPANY" weightage="20" keywordseo="Hindustan-Aeronautics-Limited">Hindustan Aeronautics Limited</keyword> (HAL) also dismissed the employees' demand for higher wage revision saying that "workmen cannot be at par with officers on salaries and perks.”</li></ul>During bad times, there is nothing like a secure job — even when you are employed with the government. As many as two millions government employees across multiple state-owned companies are either anxious, ready to protest and have even taken to roads — to make sure they get their due. This is extra pain on the Indian economy as millions of blue collar jobs have already been lost in the last few months — across auto, textile and diamond polishing sectors. Delayed salaries and job cuts The worst-affected of all government employees are the 176,000 at telecom operator BSNL. In the last few months, the debt-ridden company has been paying salaries two weeks late. While the government is still mulling a bailout package, the employees are left in doldrums. Another 20,000 employees of <keyword id="2573" type="COMPANY" weightage="20" keywordseo="Air-India">Air India</keyword> are just as angry and anxious about their future. And, the government has already decided their fate — which is a sell-off. The pilots union has already told the government that they will go for mass resignations if the national carrier lands in the hands of a private entity — which is sure to downsize. Wage revisions are too little, too late As many wonder about the state of their employment, others are annoyed with delayed wage revisions. As many as 20,000 workers and a few officers of Bangalore-headquartered Hindustan Aeronautics (HAL) are protesting against low salary hikes. The company dismissed their demand for higher wage revision saying, "workmen cannot be at par with officers on salaries and perks.” “We hope this realization will percolate to the employees sooner to make them call off their indefinite strike," HAL Chief Financial Officer C B Ananthakrishnan told IANS. Employees of public sector banks — which employs nearly 800,000 people — also seem to be unhappy with the<a href="https://www.businessinsider.in/careers/news/salary-hikes-at-government-banks-ahead-of-diwali/articleshow/71473853.cms"> wage revision</a> as the bankers association decided to offer one month extra salary without reaching a consensus with the bank unions. They are expected to go on a strike on October 22. Interestingly, the wage revision was due since 2017 in both cases. State government employees lose jobs and hope The employees of state governments have their own set of problems. Over 49,000 <keyword id="2981720" type="COMPANY" weightage="20" keywordseo="Telangana-State-Road-Transport-Corporation">Telangana State Road Transport Corporation</keyword> (TSRTC) employees have been on a 12-day long protest, demanding salaries for September. But, not just delayed payments, job loss is hurting the most vulnerable of employees. As many as 25,000 home guards in Uttar Pradesh police department <a href="https://www.businesstoday.in/current/economy-politics/yogi-adityanath-govt-terminates-25000-up-police-home-guards-on-diwali-uttar-pradesh/story/384879.html">lost jobs</a> as the government could not afford to pay the salaries at par. And, the administration called it a ‘resource constraint.’ Abiding by the Supreme Court verdict, the department was liable to pay the increased salaries at ₹672 per day to the home guards — who are paid ₹500 as of now. But, it slashed the workforce to 65,000, in order to compensate for the hike. See also: <a href="https://www.businessinsider.in/bsnl-which-is-yet-to-pay-august-salaries-wants-to-give-an-attractive-retirement-package-to-80000-employees/articleshow/70988909.cms">BSNL which is yet to pay August salaries wants to give an attractive retirement package to 80,000 employees</a> <a href="https://www.businessinsider.in/business/article/air-india-could-be-grounded-for-lack-of-fuel/articleshow/71593551.cms">Weeks ahead of divestment, Air India faces multiple threats of being grounded</a> <a href="https://www.businessinsider.in/textile-workers-diamond-polishers-and-others-face-job-losses/articleshow/70977544.cms">The untold crisis to befall India’s artists, artisans and weavers</a>

Over 2 million government employees are angry, anxious and dejected over salaries, hikes and job security

<keyword id="6358777" type="General" weightage="50" keywordseo="new-delhi" source="Orion">New Delhi</keyword> [India], February 17 (ANI): The <keyword id="65338" type="General" weightage="50" keywordseo="income-tax-department" source="Orion">Income Tax Department</keyword> gathered several pieces of evidence pertaining to the BBC India's operation which indicated that taxes were not paid on "certain remittances" which have not been disclosed as income in India by the foreign entities of the group, a <keyword id="121964" type="General" weightage="50" keywordseo="central-board-of-direct-taxes" source="Orion">Central Board of Direct Taxes</keyword> (CBDT) spokesperson said in a statement on Friday. After three days, the income tax (I-T) department finished its survey at the offices of the BBC in Delhi and Mumbai on Thursday. "A survey action under section 133A of the Income-Tax Act, 1961 (the Act) was carried out at the business premises of group entities of a prominent international Media Company at Delhi and Mumbai," the spokesperson said. Section 133A of the Act enables an income-tax authority to enter any place of business or profession or charitable activity within its jurisdiction to verify the books of account or other documents. The group, the spokesperson without taking name of the entity said, it is engaged in the business of development of content in English, Hindi and various other Indian languages; advertisement sales and market support services. The statement added the survey revealed that despite substantial consumption of content in various Indian languages (apart from English), the income or profits shown by various group entities is "not commensurate with the scale of operations in India". "The survey operations also revealed that services of seconded employees have been utilised for which reimbursement has been made by the Indian entity to the foreign entity concerned. Such remittance was also liable to be subject to withholding tax which has not been done," it added. Further, the survey, the spokesperson said, has also thrown up several discrepancies and inconsistencies with regard to "Transfer Pricing" documentation. "The survey operation has resulted in unearthing of crucial evidences by way of statement of employees, digital evidences and documents which will be further examined in due course." The officials of the I-T depratment recorded statements of only those employees whose role was crucial including those connected to, primarily, finance, content development and other production-related functions. "Even though the department exercised due care to record statements of only key personnel, it was observed that dilatory tactics were employed including in the context of producing documents/agreements sought. Despite such stance of the group, the survey operation was conducted in a manner so as to facilitate continued regular media/channel activity," the spokesperson said. Earlier, BBC had said it was cooperating with the income tax department, which was conducting a survey at its offices in New Delhi and Mumbai. "The Income Tax Authorities are currently at the BBC offices in New Delhi and Mumbai and we are fully cooperating," the <keyword id="16527651" type="General" weightage="50" keywordseo="bbc-news-press-team" source="Orion">BBC News Press Team</keyword> said in a statement. The Income Tax 'survey' on the British Broadcasting Corporation (BBC) offices located in Delhi and Mumbai concluded nearly after 60 hours on Thursday evening. Issuing a statement the BBC News PR had said, "The Income Tax Authorities have left our offices in Delhi and Mumbai. We will continue to cooperate with the authorities and hope matters are resolved as soon as possible." "We are supporting staff - some of whom have faced lengthy questioning or been required to stay overnight - and their welfare is our priority. Our output is back to normal and we remain committed to serving our audiences in India and beyond," the statement added. (ANI)

BBC India survey indicated tax evasion on remittances, discrepancies in transfer pricing: Govt

New Delhi, Apr 28 () The government on Tuesday announced a compensation of Rs 50 lakh for dependent members of port employees in case of loss of life due to COVID-19 while discharging duties.The compensation has been announced for any death due to COVID-19 till September 30, 2019 and the situation will be reviewed after that.Declaring the compensation for the port employees/workers in case of loss of life due to COVID, the Ministry of Shipping in a statement said: "All port employees including contractual labourers employed directly by the port and other contractual employees are covered" under it.The statement said the ministry has decided that all the major ports may grant compensation /ex-gratia in the event of loss of life due to COVID-19 to the dependent members/legal heirs of the port employees."Port Chairman is the competent authority for the settling claims/ disbursement of the compensation/ex-gratia and verifying authority for the cause of death from COVID-19," the statement said. This compensation is applicable only for the pandemic and will be in force up to September 30, 2020, subject to review thereafter.India has 12 major ports -- Deendayal (erstwhile Kandla), Mumbai, JNPT, Mormugao, New Mangalore, Cochin, Chennai, Kamarajar (earlier Ennore), V O Chidambaranar, Visakhapatnam, Paradip and Kolkata (including Haldia). NAM BAL

Govt announces Rs 50 lakh compensation for port employees in case of death due to COVID-19

Lucknow, Mar 28 () The Uttar Pradesh government on Saturday announced that the procurement of mustard, gram and lentils (masoor) will start from April 2 on the minimum support price (MSP).All necessary arrangements are being made for the purchase. The government will buy 2.64 lakh metric tonne mustard, 2.01 lakh metric tonne gram and 1.21 lakh metric tonne lentil on the MSP from farmers.The procurement will take place for 90 days, the UP government said in a statement issued here."The February-March season was extremely unpredictable in the current Rabi season. Due to heavy rains and hailstorm, farmers' crops have been damaged in many places. In an effort to ensure that farmers, whose crops have been damaged, must get the sum assured within the stipulated time the government has instructed the insurance companies to compensate the farmers for their loss in time," the statement said.District magistrates have been instructed to issue passes to the employees of the Department of Agriculture and Revenue along with the insurance company for this survey work, it added.So far, applications from about 90 thousand farmers have come to insurance companies.Referring to potato, the UP government said, this year it (potato) has also adversely affected due to unseasonal rains.Some crops have been harvested, the rest is still in the field.Farmers are not even digging out the potatoes due to confusion over access of potatoes to cold storage due to the lockdown.According to information received from the horticulture department, the process of sanitising all cold storage is going on. "There will be no problem in storage and extraction of potatoes. Instructions have been given to all DMs to allow labourers engaged in this process to work," the statement said. NAV BALBAL

You Searched For "UP govt employees" and got 5 results

Over 23 lakh govt employees under NPS get option to choose unified pension scheme

PTI

Over 2 million government employees are angry, anxious and dejected over salaries, hikes and job security

Prerna Sindwani

BBC India survey indicated tax evasion on remittances, discrepancies in transfer pricing: Govt

ANI

Govt announces Rs 50 lakh compensation for port employees in case of death due to COVID-19

PTI

UP govt to start crop procurement from Apr 2

PTI

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