7th Pay Commission Pay Out – Best Tax Saving Investment Options
There are a large variety of tax-saving options available under Section 80C of the Income-Tax Act. However, the key issues are the safety, returns and tax status while investing.
There are a large variety of tax-saving options available under Section 80C of the Income-Tax Act. However, the key issues are the safety, returns and tax status while investing.
The question of keeping in abeyance the implementation of the Cabinet decision on 29th June 2016 regarding 7th CPC recommendations, till the High Level Committee submits its report to Govt, was discussed in the NJCA meeting.
Many expected that implementation of 7th Pay Commission may take some more time as the matter relating to revision of allowances, minimum wage and fitment formula has been referred to committees
Now that Govt avoided Strike Action over modification of 7th Pay Commission report. Will it go ahead with its implementation plans now?
NJCA, reported that the proposed monthly deduction in respect of CGEGIS is much higher than the Premium rates available for Term life Insurance in Open Market
In the meeting of NJCA constituent members with Home Minister, it was agreed by Govt to give it in writing on formation of Committee for reviewing 7th Pay Commission Minimum wage and Fitment Formula
Expressing dissatisfaction over the recommendations of the 7th Pay Commission, various central government employees’ unions have threatened to go on an indefinite strike from July 11.
On 30th June 2016, the Government had assured to refer the revision of Minimum wage and fitment formula to a Committee.
As per press release issued by NJCA, the Council of Ministers promised to appoint a committee for the purpose of reviewing 7th Pay Commission Minimum Pay and Fitment Formula.
Mishra the NJCA general secretary said Jaitley accepted their concern regarding 7th pay commission. “He said the government will try to rectify some of our demands, including minimum wage”.
Three cabinet ministers—finance minister Arun Jaitley, home minister Rajnath Singh and railway minister Suresh Prabhu—met representatives of several government staff unions
While Committee is formed for reconsidering Minimum Wage and Fitment Formula, NJCA to proceed with Strike from 11th July 2016