Thursday, 16 February 2017
Wednesday, 15 February 2017
Tuesday, 14 February 2017
Sukanya Samriddhi account (SSA) - Premature closure of account
Premature closure of account
Though the duration of the Sukanya Samriddhi account is 21 years from the date of the opening of the account but request for premature closure can be made after 5 years from the date of opening of account in following scenarios :
1. Untimely death of the account holder – In the unfortunate event of death of the beneficiary account holder (girl child), the account shall be closed immediately on production of death certificate issued by the competent authority. In that case the balance at the credit of the account shall be paid along with the accrued interest till the date of death shall be paid to the guardian.
2. Account holder become a non-citizen or NRI- If, after the opening of an Account, the Account holder becomes a non-citizen or non-resident of India, intimation to this effect shall be given by the guardian or the Account holder to the post office or the Bank concerned, as the case may be, within a period of one month from the date of such status of the Account holder’s citizenship or resident status. No interest shall be deemed to accrue to the Account from the change of such status and the Account shall be deemed to be closed prematurely from that date and credit in the account will be returned to along with interest due, to the Account Holder.
3. Extreme compassionate grounds– Where the post office or the Bank concerned is satisfied, in cases of extreme compassionate grounds such as medical support in life-threatening diseases of the Account holder or death of the guardian, that the operation or continuation of the Account is causing undue hardship to the Account holder, it may, after complete documentation, by order and for reasons to be recorded in writing, allow premature closure of the Account.
4. For Other Reasons– Premature closure of an Account may be permitted, anytime after the opening of an Account, for any reason other than provided under this sub-rule, and in which case the whole deposit shall be eligible only for the interest rate prescribed for the Post Office Savings Bank.
Pre-Mature Withdrawal for Education
(1) Withdrawal of upto a maximum of fifty per cent of the balance in the Account at the end of the financial year preceding the year of application for withdrawal, shall be allowed for the purpose of higher education of the Account holder but such withdrawal shall not be allowed unless the Account holder attains the age of eighteen years or has passed tenth standard, whichever is earlier.
(2) The application for withdrawal shall be accompanied by a documentary proof in the form of a confirmed offer of admission of the Account holder in an educational institution or a fee-slip from such institution clarifying such financial requirement.
(3) The withdrawal may be made as one lump sum or in instalments, not exceeding one per year, for a maximum of five years, subject to the limit specified in point (1) above.
(4) withdrawal shall be restricted to the actual demand of fee and other charges required at the time of admission as shown in the offer of admission or the relevant fee-slip issued by the educational institution.
//copy//-POTOOLS
Monday, 13 February 2017
MINIMUM WAGES LOK SABHA QUESTION & ANSWER
GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
MINISTRY OF LABOUR AND EMPLOYMENT
LOK SABHA
STARRED QUESTION NO.48
TO BE ANSWERED ON 06.02.2017
STARRED QUESTION NO.48
TO BE ANSWERED ON 06.02.2017
MINIMUM WAGES
48. SHRI KUNWAR PUSHPENDRA SINGH CHANDEL:
PROF. RAVINDRA VISHWANATH GAIKWAD:
Will the Minister of LABOUR AND EMPLOYMENT be pleased to state:
(a)whether the Government proposes to amend the Minimum Wages Act, 1948 and formulate a uniform wage policy for the entire country and if so, the details and salient features thereof;
(b)whether minimum wages fixed under the Minimum Wages Act, 1948 varies amongst States;
(c)if so, the details thereof, State/UT-wise along with the reasons for differential wages especially on gender basis and also between urban and rural areas;
(d)whether any monitoring mechanism exists to ensure that all the workers are paid minimum wages and not subjected to any form of exploitation; and
(e)if so, the details thereof along with other labour welfare measures being implemented by the Government for betterment of labour force in the country?
ANSWER
MINISTER OF STATE (IC) FOR LABOUR AND EMPLOYMENT
(SHRI BANDARU DATTATREYA)
MINISTER OF STATE (IC) FOR LABOUR AND EMPLOYMENT
(SHRI BANDARU DATTATREYA)
(a) to (e): A statement is laid on the table of the House.
STATEMENT REFERRED TO IN REPLY TO PARTS (a) TO (e) OF THE LOK SABHA STARRED QUESTION NO. 48 FOR 06.02.2017 BY SHRI KUNWAR PUSHPENDRA SINGH CHANDEL AND PROF.RAVINDRA VISHWANATH GAIKWAD REGARDING MINIMUM WAGES.
(a): The proposed amendments to the Minimum Wages Act, 1948, inter-alia, includes applicability of minimum wages to all employments, changes in the definition of “Appropriate Government”, fixation/review/revision of minimum rates of wages by the State Government, introduction of National Minimum Wage by the Central Government, enhancement of penalty, etc.
As a step towards a uniform wage structure, the concept of National Floor Level Minimum Wage (NFLMW) was introduced by the Government in 1996 on a voluntary basis. It is revised from time to time taking into account the increase in the Consumer Price Index Number. NFLMW has been revised to Rs.160/- per day w. e. f 01.07.2015.
(b) & (c): Under the provisions of the Minimum Wages Act, 1948, both Central and State Governments are appropriate Governments to fix, review and revise the minimum wages of the workers employed in the scheduled employment under their respective jurisdictions. As regards minimum wages in States, there is disparity due to variations in socio-economic and agro-climatic conditions, income, prices of essential commodities, paying capacity, productivity and local conditions. As per the available information, a statement showing the range of rates of minimum wages in all the States/Union Territories is at Annexure.
The Act does not discriminate on the basis of gender and the female workers are entitled to same wages and other facilities as fixed by the Central Government for the workers engaged in the scheduled employments. No separate wages are fixed for urban and rural areas.
(d) & (e): The implementation of the Act is carried out by the Centre as well as the States in respect of their respective jurisdiction. In the Central Sphere, the enforcement is secured through the Inspecting Officers of the Chief Labour Commissioner (Central) commonly designated as Central Industrial Relations Machinery (CIRM), the compliance in the State sphere is ensured through the State Enforcement Machinery. They conduct regular inspections and in the event of detection of any case of non-payment or under-payment of minimum wages, they advise the employers to make payment of the shortfall of wages. In case of non-compliance, penal provisions against the defaulting employers are invoked.
The labour welfare measures recently initiated for betterment of labour force include minimum pension of Rs.1000/-per month to the pensioners under Employees’ Pension Scheme (EPS), 1995, portability of provident fund account, National Career Service portal, Employees State Insurance Corporation 2.0(Health Reforms of ESIC), Revision in eligibility and calculation ceiling under the Payment of Bonus Act, 1965 etc.
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