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Principles laid down by Hon’ble Supreme Court in respect of suspension period

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Directorate General of Income Tax (Vigilance) has issued the  Principles laid  down  by  Hon’ble  Supreme  Court   in  the  judgment  in Civil   Appeal   No.   1912  of  2015   in  the   case   of  Shri   Ajay   Kumar Choudhary Vs. Union of India –  Circular – reg.

DIRECTORATE   GENERAL  OF INCOME  TAX (VIGILANCE)
First Floor, Dyal Singh Public Library Building,

1,  Deen Dayal Upadhyay Marg,
New Delhi –  11 0 002

F.No.DGIT(Vig.)/HQ/Misc./2015-16/1285                                                                               Dated: 05.06.2015

To

All Principal Chief Commissioners of Income Tax (CCA)

SUB:   Principles laid  down  by  Hon’ble  Supreme  Court   in  the  judgment  in Civil   Appeal   No.   1912  of  2015   in  the   case   of  Shri   Ajay   Kumar Choudhary Vs. Union of India –  Circular – reg.

Sir/ Madam,

Kindly refer to the above mentioned subject.

2.         In this regard I am directed to draw your kind attention to the principles  laid down by Hon’ble  Supreme Court in the judgment  in Civil Appeal No.  1912 of 2015 in the case of Shri Ajay Kumar Choudhary Vs. Union of India. Hon’ble  Apex Court has laid down the following principles in para 14 of the judgment: –

a)        The direction  of the Central Vigilance  Commission that pending a criminal investigation,  departmental  proceedings  are to be held in abeyance,  is now superseded.

b)         The currency of a Suspension Order should not extend beyond three months if within this period the Memorandum  of Charges/Charge sheet  is not served on the delinquent officer/employee.

c)         If  the  Memorandum  of  Charges/Chargesheet   is served,  a  reasoned  order must be passed for the extension of the suspension.

d)        The Government  is free to transfer the concerned person to any Department in any of its offices within or outside  the State so as to sever any   local or personal contact. that  he may have and which he may misuse for obstructing the investigation against him.

e)         The  Government  may  also  prohibit  him  from  contacting  any  person,  or handling records and documents till the stage, he is required to prepare his defence.

3.          I am  further  directed  to  request  that  these  principles  may also  kindly  be communicated  to all  Chief  Commissioners of Income  Taxi  Directors  General  of Income  Tax,  all  Principal  Commissioners  of Income  Taxi Principal  Directors  of Income Tax  and  all  Commissioners   of  Income  Taxi  Directors  of  Income  Tax functioning in your Region as they also conduct disciplinary proceedings in cases of departmental    officers/    officials.    Further,    pending    Disciplinary    Proceedings/ suspension   cases  may  be  reviewed  urgently  in  light  of  directions  of  Hon’ble Supreme Court.

4.         I am also directed to request that in all such cases where officers/  officials are transferred to a different station after revocation of their suspension, the transfer order  must  specifically  refer  to the judgment  in this case and mention  about  the liberty  granted  by  the  Hon’ble   Supreme  Court,  so  that  the  transfer  cannot  be challenged  as being in violation  of Transfer Policy.  Further,  in all such cases where the  officers/  officials   are  retained  at  the  same  station  after  revocation  of  their suspension, orders may be issued prohibiting such officers/ officials from contacting any  person;  or  handling  records  and  documents  till the  stage  of their  having  to prepare their defence

Yours faithfully,
(Rakesh Gupta)

Addl. Director of Income Tax (Vig) (HQ)
New Delhi

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बीमा पॉलिसी खरीदने के लिए केवाईसी जरूरी, अब क्लेम होगा और अधिक आसान, नहीं होगा कोई फ्रॉड

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Insurance KYC: बीमा नियामक इरडा ने कहा है कि नए बदलाव जीवन बीमा, स्वास्थ्य बीमा (Health Insurance) , वाहन बीमा ( Motor Insurance)और आवास बीमा समेत अन्य बीमा पर पॉलिसी पर भी लागू होंगे।

इरडा ने उपभोक्ताओं को धोखाधड़ी से बचाने और क्लेम को और ज्यादा आसान करने के लिए पॉलिसी खरीदने में केवाईसी दस्तावेज को अनिवार्य कर दिया है। नियामक ने इसके अलावा कई अन्य नियमों में भी बदलाव किया है। बीमा नियामक इरडा ने कहा है कि नए बदलाव जीवन बीमा, स्वास्थ्य बीमा, वाहन बीमा और आवास बीमा समेत अन्य बीमा पर पॉलिसी पर भी लागू होंगे।

बीमा नियामक ने कंपनियों को निर्देश देते हुए कहा है कि बिना केवाईसी दस्तावेजों के किसी भी तरह की पॉलिसी न बेचें। इसके अलावा मौजूदा पॉलिसी में किसी तरह के बदलाव से बचें। मामले से जुड़े सूत्रों का कहना है कि कुछ ग्राहकों ने अपनी बीमा कंपनी और बीमा नियामक से धोखाधड़ी की शिकायतें की हैं।

ठगी बढ़ी तो सख्त हुए नियम

इसके तहत ग्राहकों से टॉपअप कराने, बीमा कवर बढ़ाने समेत कई अन्य फायदों का लालच देकर ठगी करने की कोशिश की गई है। इसके बाद नियामक ने कदम उठाते हुए बीमा पॉलिसी खरीदने के नियमों को सख्त कर दिया है। केवाईसी दस्तावेज में बीमा कंपनी को आधार कार्ड, पैन कार्ड, चुनाव पहचान पत्र, पासपोर्ट, आवास प्रमाण पत्र, रसोई गैस कनेक्शन का बिल या बिजली बिल दे सकते हैं।

मानसिक बीमारी का कवर जरूरी

बीमा नियामक ने एक और अहम कदम उठाते हुए स्वास्थ्य बीमा पॉलिसी से जुड़ी कंपनियों से कहा कि वह हर हाल में स्वास्थ्य बीमा में मानसिक बीमारी का कवर भी जरूर शामिल करें। इसके साथ ही इरडा ने यह भी कहा है कि कंपनियां मानसिक बीमा से जुड़े क्लेम को मना नहीं कर सकती हैं। इसके अलावा नियामक ने ग्राहकों को स्वास्थ्य बीमा पॉलिसी खरीदते समय इस मानसिक बीमा के कवर की गहरी जांच-परख करें।

केवाईसी के फायदे

1. पॉलिसी में बदलाव के नाम पर धोखाधड़ी पर अंकुश लगेगा
2. क्लेम के समय कंपनियां नाम गलत होने का बहाना नहीं कर पाएंगी 3. पॉलिसी फॉर्म में दिए विवरण और केवाईसी में किसी अंतर पर कंपनियां भी जिम्मेदार होंगी

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Modi Government Fixes 8.15% as provident fund Interest Rate For 2022-23

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In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21.

Retirement fund body EPFO (Employees’ Provident Fund Organisation) fixed 8.15 per cent  rate of interest on employees’ provident fund (EPF) deposits for 2022-23 at its meeting today.

In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21.

This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.

The Employees’ Provident Fund Organisation’s apex decision-making body Central Board of Trustees (CBT) has decided to provide 8.15 per cent rate of interest on EPF for 2022-23 at its meeting on Tuesday, the Ministry of Labour and Employment said.

The 8.5 per cent interest rate on EPF deposits for 2020-21 was decided by CBT in March 2021.

After the CBT’s decision, the interest rate on EPF deposits for 2022-23 will be sent to Ministry of Finance for concurrence.

After the government’s ratification, the interest rate on EPF for 2022-23 will be credited into accounts of over five crore subscribers of EPFO.

EPFO provides the rate of interest only after it is ratified by the government through the finance ministry.

In March 2020, EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent provided for 2018-19.

EPFO had provided 8.65 per cent interest rate to its subscribers in 2016-17 and 8.55 per cent in 2017-18. The rate of interest was slightly higher at 8.8 per cent in 2015-16.

The retirement fund body had given 8.75 per cent rate of interest in 2013-14 as well as 2014-15, higher than 8.5 per cent for 2012-13.

The rate of interest was 8.25 per cent in 2011-12. 

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AIR INDIA TO GIVE RS. 98 CRORE WORTH SHARES TO ITS EMPLOYEES, CHECK ELIGIBILITY HERE

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Tata-owned airline Air India has introduced an employee share benefit scheme, offering around 98 crore shares or 3 per cent of its equity share capital to permanent employees as part of a stock option scheme. The move aimed at incentivising and improve the performance will benefit around 8,000 employees.

“In accordance with the share purchase agreement signed as part of the disinvestment process, Air India has initiated the Employee Share Benefit Scheme for eligible employees who were in service with the airline on the date of privatisation,” Economic Times quoted a company spokesperson as saying.

With this, Air India will become the second company in the salt-to-steel conglomerate to launch such stock option plan for its staff after automobile major Tata Motors, which rolled out a scheme in 2018. Tatas officially took over the erstwhile national carrier from the Centre on January 27, 2022.

Along with Air India staff, permanent employees of Air India and Air India Express at the time of the takeover will also be eligible to participate in the scheme.

Air India Staff Stock Option

Under the scheme, permanent employees will get the share at a price of 27 paise apiece, as per the document sent to the staff. The price is at a discount compared to the book value of 87-90 paise per share at the time of acquisition, PTI quoted a source as saying.

Worth mentioning here is that employees of the carrier will not personally own any of its shares at any point of time, instead, the shares will be held by a trust. SBI Caps Trustee Company Ltd has been appointed to implement the scheme.

The company has authorised the trust to offer ESB benefits on no more than 3 per cent of the shares of the company purchased by Talace i.e., 97,99,56,600 to the eligible employees from time to time, in one or more tranches, acquired by the trust from Talace for nil monetary consideration.

The trust shall hold the ESB shares to provide the ESB benefit to the eligible employees upon the payment of the aggregate exercise price together with all applicable taxes and amounts. Talace, a subsidiary of Tata Sons, acquired Air India, Air India Express and the government’s 50 per cent stake in Air India SATS Airport Services Pvt Ltd.

The fair market value (FMV) will be calculated every year by July 15 and employees will be able to encash their shares.

Any eligible employee retiring on or after January 27, 2022, will be deemed to be an eligible employee and will be entitled to the benefits in accordance with and subject to the terms of this scheme.

ESOP scheme in other airlines

Other Indian airlines and Air India’s competitors like IndiGo and SpiceJet have also implemented ESOP policies. Low-budget airline IndiGo allotted shares to its top management in its early days, making most of them millionaires when it listed on the stock exchanges in 2015 at a price of Rs 765 a share.

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