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Friday, October 27, 2017

GPF interest rate wef 1st October, 2017 to 31st December, 2017

    The Government of India has announced that during the Financial Year 2017-18, accumulations at the credit of subscribers to the General Provident Fund (GPF) and other similar funds shall carry interest at the rate of 7.8% (Seven point eight per cent) with effect from 1st October, 2017 to 31st December, 2017. This rate will be in force w.e.f. 1st October, 2017.
The Notification to this effect has been issued and published in the Gazette of India on 23rd October, 2017.

7th Pay Commission – Revision of rate of Training Allowance.

No.13024/01/2016-Trg.Ref.
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel and Training
[Training Division (IST/IIPA)]

Block-4, Old JNU Campus
New Mehrauli Road, New Delhi-67
Dated: October 24,2017
OFFICE MEMORANDUM
Subject: Implementation of Government’s decision on the recommendations of the Seventh Pay Commission – Revision of rate of Training Allowance.
Consequent upon the acceptance of the recommendations of the Seventh Central Pay Commission (CPC) by the Government conveyed vide Ministry of Finance, Department of Expenditure Resolution No. 11-1/2016-IC dated July 6, 2017, the President is pleased to decide that the Training Allowance in Training Academies and Institutes shall be regulated in the following manner:-
(i) Training Allowance
In the National/Central Training Academies and Institutes for Group’ A’ officers
24% of Basic Pay
In other Training Establishments
12% of Basic Pay
(ii) Training Allowance will be admissible only to the employees who join the training establishments for a specified period of time and are then likely to go back.
(iii) Training Allowance will not be admissible to those employees who are directly recruited by such training establishments for imparting training.
2.The revised rates of training allowance shall be admissible with effect from the 1st July, 2017.
3.In so far as the employees working in the Indian Audit and Accounts Department are concerned, these orders are issued with the concurrence ofthe Comptroller and Auditor General.
4.Hindi version will follow.
Sd/-
(Biswajit Banerjee)
Under Secretary to the Government of India
Signed Copy