. FLASH !!! DEPT APPEAL OF SUBRAMANYAM CASE ON 5400 TO ACP INSPECTORS' DISMISSED BY APEX COURT News from Delhi...

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It is to clarify that the Time Scale of 5400 in PB2 is required to be given to Group B officers after 4 years from the date there are placed in GP 4800 either on ACP/MACP or on promotion.

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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