All India Consumer Price index Numbers for Industrial Workers on base 2001=100 for the Month of March, 2011


All India Consumer Price index Numbers for Industrial Workers on base 2001=100 for the Month of March, 2011
                        All India Consumer Price Index Number for Industrial Workers (CPI-IW) on base 2001=100 for the month of  March, 2011 remained stationary at 185 (one hundred and eighty five).
        During March, 2011, the index recorded decrease of 4 points in Chennai centre, 3 points each in Warrangal, Tiruchirapally, Vadodara and Quilon centres, 2 points in 12 centres and 1 point in 17 centres. The index increased by 6 points in Srinagar centre, 5 points in Hubli Dharwar centre, 3 points each in Bhilai, Sholapur and Mysore centres, 2 points in 5 centres, 1 point in 13 centres, while in the remaining 21 centres the index remained stationary.
                 The maximum decrease of 4 points  in  Chennai centre is mainly on account of decrease in the prices of Rice, Onion, Garlic, Vegetable items, Flower/Flower Garlands, etc. The decrease of 3 points each in Warrangal, Tiruchirapally, Vadodara and Quilon centres is due to decrease in the prices of Rice, Arhar Dal, Onion, Garlic, Vegetable items, etc. The increase of 6 points in Srinagar centre is the outcome of increase in the prices of Rice, Poultry (Chicken), Vegetable & Fruit items, Bus Fare, Tailoring Charges, Utensils Copper, etc. The increase of 5 points in Hubli Dharwar centre is due to increase in the prices of Rice, Goat Meat, Fish Fresh, Milk, Tea (Readymade), Pan Leaf, etc. whereas, the increase of 3 points each in Bhilai, Sholapur and Mysore centres  is due to increase in the prices of Rice, Wheat, Milk,  Coffee Powder, Firewood, etc.

            The indices in respect of the six major centres are as follows :

1. Ahmedabad  177
 2. Bangalore 188
3. Chennai 163
 4. Delhi   169
5. Kolkata  178
6. Mumbai  183

            The All-India (General) point to point rate of inflation for the month of March, 2011 remained static at 8.82% in comparison with the level of February, 2011. Inflation based on Food Index is 8.29% in March, 2011 as compared to 7.65% in February, 2011.

Employee Provident Fund (EPF) : Retire as a Crorepati


We normally hate any kind of deductions in our monthly salary slips – either its income tax deduction , professional tax deduction or even an EPF deduction.Very few of us really know that this small EPF deduction each year can in reality make you a crorepati by the time you retire. Encouraging fact is that this statement is applicable to even with those having modest salaries. There’s many if’s and but’s to achieve that , most notably being resisting the temptation to withdraw money till retirement.

12% of your basic salary that gets deducted as part of EPF account every month has a potential to make you a crorepati by the time you retire. Most of us are of view that investment is so small and interest rate offered is nothing special. Power of compounding clubbed with a matching contribution from your employer every month can do wonders for you.

Encouraging stats : 8.5% interest earned on the EPF can help a person with a basic salary of 25,000 a month accumulate a mammoth 2.4 crore in 35 years. Sounds unbelievable.

Hard fact : A very few people are able to reach even 1 crore milestone in their careers.

Good news is that the initial draft of Direct Tax Code has proposed that new contribution to EPF be taxed on withdrawal. However , the revised draft has made EPF fully tax exempt making it once again one of the best debt option available in the market.

Try not to touch your EPF account till you hang your boots. You may have to use it during acute emergencies but other than that avoid poking into this account while you are working. Its not uncommon of people to withdraw their PF at the stage. Government discourages you to withdraw money as withdrawals from EPF within five years of joining are taxable. Early withdrawal don’t allow power of compounding to come to play.

Lesson for everyone – Do not withdraw money from EPF while switching jobs , one should transfer the balance to the new account with the new employer. Remember , this do not happen automatically. You need to fill a ‘Form 13′ and deposit it with the EPFO. Make this one of your first TODO’s things at new workplace as with course of time you will loose track of it and also get pre-occupied at new job.

EPFO in addition is coming up with a software enabling online transfer of money from old account to new account. This will reduce both the paperwork and time taken for transaction.

source:http://www.investment-mantra.in/?p=938


Employee Provident Fund (EPF) : Retire as a Crorepati

xtension of the Departmental Anomaly Committee for Railways.


GOVERNMENT OF INDIA 
MINISTRY OF RAILWAYS 
(RAILWAY BOARD)

No.PC-VJ/2009,DAC-1                                                        New Delhi, dated 19.04.2011

The General Secretary,
All India Railwaymen’s Federation,
4, State Entry Road,
New Delhi — 110055

The General Secretary,
National Federationmen of Indian Railwaymen,
3-Cheimsford Raod
New Delhi — 110055

Sir,

Subject. Extension of the Departmental Anomaly Committee for Railways.

          Ref: This Ministry’s letter No.PC-VI/2009/DAC 1 dated 16.02.2009 and 12-08-2010.

   Undersigned s directed to refer Board’s letter of even number dated 12.08.2010 on the above mentioned subject and to state that it has been decided with the approval of the competent authority to extend the tenure of the Departmental Anomaly Committee for Railways up to 30th September, 2011.

   Thanking you.

Yours faithfully,

-sd- 
for Secretary, Railway Board.

SOURCE-http://airfindia.com/DAC/DAC%20Extended_19.04.11.pdf

Ministry of Railways have approved the Special Incentive Scheme


GOVERNMENT OF INDIA 
MINISTRY OF RAILWAYS 
(RAILWAY BOARD)




No.2007/M(PU)/1/11.                                                                            New Delhi, dated 21-O4-2O11.

The General Manager.
Chittaranjan Locomotive Works.
Chittarajan.



        Sub: Special Incentive Scheme.

        Ref: CME/Loco/CLW's letter no.PE/PLO/03 dated 07.02.11.

        Ministry of Railways have approved the Special Incentive Scheme as proposed by CLW subject to the following :-

        1. Incentive bonus limit to be 70%.

        2. Simultaneously, allowed timings should be reduced by 2.5 % at 60% level (with cuts in allowed time being linearly indexed to increase in incentive earning between 50% & 60%, with 0% cut at 50% earning and 2.5% cut at 60% earning).

        3. Allowed time to be further reduced by 1% at 70% level using the same formula of linear indexing between 60-70%.

        5. GM/CLW to advise a time bound target of the implementation of proposed Group incentive Scheme at CIW. All out efforts may be made for switching over to GIS at CLW.

        6 This special incentive scheme is applicable for the year 2011-12. There will be no staff increase and all other terms and conditions would remain the same as were applicable for the year 2010-11.

           This issues with the Concurrence of Finance Dte. of the Ministry of Railways.

           Hindi version will follow.

s/d 
(A. K.Panda) 
Director Mech. Engg.(PU), 
Railway Board.

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