. FLASH !!! 6500/7500 SCALE FROM 1.1.1996 HAS BEEN ALLOWED BY HON'BLE CAT, HYDERABAD VIDE OA No. 21/2218/2024 & Batch filed before the Hon’ble CAT Hyderabad. ...
MOST OF THE OFFICERS' PAY HAS BEEN FIXED W.E.F. 1.1.1996 IN 6500/7500 SCALES AND ARREARS ALSO PAID TO SOME OF THE OFFICERS IN HYDERABAD/VIZAG ZONES.

Thursday, August 4, 2011

Hike rate of return on GPF: Parliamentary panel

New Delhi, Aug 2 (PTI)
A Parliamentary panel today asked the Central government to increase the rate of return on provident fund for its employees in the light of rising bank rates and EPFO’s decision to hike its rate to 9.5 per cent for 2010-11.
“The rate of interest on General Provident Fund (GPF) which is pegged at 8 per cent may be reviewed so that government employees are not put to any disadvantage more so now when the interest rates for bank deposits has also been raised,” the Standing Committee on Finance suggested in its report.
If the suggests of the panel finds favour from the government, over 50 lakh Centre’s employees will stand to benifit.
The panel headed by former Finance Minister Yashwant Sinha, pointed out that retirement fund body Employees Provident Fund Organiation has also increased rate of interest on PF deposits to 9.5 per cent for 2010-11 from 8 per cent.

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