Sunday, May 28, 2017

Accountant Examination Paper-II 2017 TN Circle




Accountant Examination Paper-I 2017 TN Circle

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Cadre Restructuring orders issued in Vijayawada Region

It is learnt that the orders have been issued by R.O, Vijayawada for implementation of Cadre Restructuring in Gr.C cadre in the Divisions of Vijayawada Region :

Divisions :

  1. Bhimavaram
  2. Eluru
  3. Gudivada
  4. Gudur
  5. Machilipatnam
  6. Narasaraopet
  7. Ongole
  8. Tenali
  9. PSD, Vijayawada

EPFO: Provident fund contribution to stay at 12 percent

The proposal to cut employers’ contribution saw protests from states as well as workers’ and employers’ representatives.
Exposure to stock market increased to 15% from 10%
The Central Board of Trustees (CBT), the highest decision-making body of the employees’ provident fund organisation (EPFO), on Saturday rejected the government’s proposal of pruning employers’ contribution to the employees’ provident fund (EPF) to 10% from 12% at present, even as it gave the retirement fund body its go-ahead for enhancing its exposure to the stock market to 15% of the incremental deposits from 10% now. Sources present in the CBT meeting said the proposal of reducing employers’ contribution saw vehement protests from the states, as well as workers’ and employers’ representatives, leaving the Centre with no option but to withdraw the proposal
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Under the present law, it is mandatory for units employing 20 or more persons and earning up to Rs 15,000 a month to provide EPF benefits to workers. While employees contribute 12% of the basic pay to EPF, the employer contributes 8.33% towards the employee’s pension scheme and 3.67% to the EPF itself. Employees also make matching 12% contribution. Additionally, employers also pay 0.5% towards EDLI, 0.65% as EPF administrative charges and 0.01% as EDLI handling fee.

The Centre had mooted the idea of pruning contribution to ensure that the take-home pay of employees increases and also to promote formal employment. But the employees’, as well as employers’ representatives, argued that lowering the contribution is not in the interest of the workers and should be done away with.

“The proposal to lower the employer’s contribution was rejected by the states and by the employers’ and employees’ organisations. As such, the Centre has dropped the proposal,” CITU president AK Padmanabhan told FE. BMS general secretary Brijsh Upadhyay also said the proposal was opposed by all as a “direct attack on the workers’ rights”.

The other proposal, increasing EPFO’s equity exposure in the stock market, has been approved, Padmanabhan said, adding that CITU had, however, objected to the proposal. Though there were no representatives present, AITUC also sent its letter of resentment.

Breaking away from its past practice of investing subscribers’ deposits mainly in government securities and corporate bonds, the EPFO has since 2015-16 started investing in exchange traded funds (ETFs) to diversify its portfolio and optimise returns. As per the investment pattern notified in 2015, the EPFO can invest up to 15% of its incremental deposits, estimated at Rs 1.4 lakh crore per annum, in the stock market.

7th Pay Commission: PM Modi wants employees to get higher allowances, arrears soon

The Prime Minister of India, Narendra Modi will personally intervene to look into the issue of arrears and allowances as per the recommendations made by the 7th Pay Commission. The PM would wait for the suggestions made by the Empowered Committee of Secretaries

Modi won't let down employees

For the 52 lakh central government employees, they see a last hope in Modi. They say that he is particular about good governance and for that the employees need to be happy. If their demands on higher allowances and arrears are not met soon, then the employees would be unhappy and this could affect governance. Sources tell OneIndia that the PM himself will take an interest in the matter and will have the issue resolved soon.

Modi wants no delay 

The PM is currently busy with several engagements. He however would spend time on the issues being faced by the employees, sources also say. He would wait for the report of the E-CoS. Following this the same would be placed before the Union Cabinet. Modi himself would take a call on the matter. The source also added that the government is of the view that even if handing out higher allowances and arrears will put some pressure on the exchequer, it would still be worth it. Modi has communicated several times to the Finance Ministry that he does not want to see the central government employees unhappy.

Lavasa recommendations favourable 

The Ashok Lavasa committee constituted last year to study the 7th Pay Commission recommendations on allowances, submitted its report on April 28 this year. In his report he is said have to given a favourable recommendation for the central government employees. Currently the issue being looked into by the E-CoS.

Last hope is Modi 

Even the National Joint Council of Action, a joint body of Union of Central Government employees feel that Modi is the last hope. They are confident that he will not let them down. Shiv Gopal Mishra, the NJCA chief said, "We will approach Prime Minister Narendra Modi if our demands on higher allowances are not met. He too is of the opinion that Modi would not let the central government employees down at any cost.

What Finance Ministry said 

The Finance Ministry in a statement said, "Modifications have been suggested in some allowances which are applicable universally to all central government employees as well as certain other allowances which apply to specific employee categories such as railwaymen, scientists, defence forces personnel, postal employees, doctors, nurses and many more".

The 7th Pay Commission examined 196 existing allowances after which it recommended the abolition of 51 and subsuming of 37 other allowances with the existing ones.

Press Conference by Union Minister Manoj Sinha on Achievements of Ministry of Communications

Applicability of Central Civil Services (Revised Pay) Rules, 2016 to re-employed person & Fixation of Pay of State Govt. Employees - DOP Order

Applicability of Central Civil Services (Revised Pay) Rules, 2016 to persons re-employed in Government Service after retirement and whose pay is debitable to Civil Estimates
Fixation of pay of State Govt.Employees on their appointment in Central Govt, subsequent to the implementation of CCS (Revised Pay) Rules,2016