Master Copy for IRTMTCALD by IRICEN P L
Master Copy for IRTMTC/ALD by IRICEN
P. L. Bonus & GIS Terms of Payments PLB, GIS Monthly subscription, Payment at retirement
P. L. Bonus Productivity Linked Bonus (PLB) for Railway staff • “The payment of PLB would serve as an incentive, and result in motivating a large number of Railway employees, particularly those involved in execution and operations of railways, to improve their productivity and ensure safety, speed and service for Railway customers, " the statement said. • The financial implication of payment of 78 days’ PLB to railway employees has been estimated to be Rs 2, 245. 45 crore. The wage calculation ceiling prescribed for payment of PLB is Rs 7, 000 per month.
P. L. Bonus Productivity Linked Bonus (PLB) for Railway staff • The maximum amount payable per eligible railway employee is Rs 17, 951 for 78 days. • PLB to all non-gazetted railway employees is an acknowledgement of their contribution to the efficient running of the Railways. • There being large number of railwaymen and their families, this acknowledgement will enhance the sense of inclusiveness and equity among them.
P. L. Bonus is paid to all non Gazetted Railway employees. • For calculating PLB of Railway staff 1977 is taken as the base year with index for the year taken as 100. • Bonus for 1977 is taken as 25 days and any excess or decrease over it by each 2250 million net Tonne Km of Revenue earning Traffic will increase or decrease Amount of bonus by a day. • The sum is calculated as if wages are Rs. 3500. • The amount arrived at is divided by the number of employees • If index of production falls below 90, no bonus shall be paid for the year. • For running staff pay includes Pay element of Running Allowance. • For 2010 -11 the trade unions AIRF and NFIR announced 78 days of bonus with much pomp, but remained silent about the sum. As per the above calculation the actual amount a Railway employee got was a paltry Rs. 8, 975/-
GIS : Group Insurance Scheme • Central Government Group Insurance Scheme For Railway Employees : Group Insurance Scheme came into effect from 01. 1982. It has become compulsory for the employees who joined Railway service after 01. 1980 • The objective of the CGEGIS 1980 the scheme is to provide the Central Government employees a low cost and a wholly contributory and self-funded insurance cover to help their families in the event of death during service and a lump sum payment on retirement. • A portion of the monthly contribution goes towards the insurance cover while the balance goes into the savings fund.
GIS : Group Insurance Scheme • As a Central Government employee, one keeps contributing towards the Central Government Employees Group Insurance Scheme (CGEGIS) until retirement. • The CGEGIS 1980 scheme comes with insurance coverage and also serves as a Savings Fund for the employee. • A portion of the contribution goes towards the insurance cover while the balance goes into the Savings Fund. • The accumulated amount in the Savings Fund is paid to the employee at the time of retirement from service. • Each quarter, the government releases a Table of Benefits for Savings Fund, which helps the employee to get an idea about the amount to be received at the time of retirement.
GIS • The interest rate applicable to the Savings Fund will keep varying as per the prevailing rates in the economy. • The Table of Benefits is constructed on the basis of one’s contribution reduced by the cost of insurance or the mortality cost. • On death during the service period, the amount of insurance cover plus the amount in the Savings Fund is paid to the family. • In order to avoid any delay in the payment of the benefits to the retiring employee, the government had earlier instructed that in cases where the service of the retiring CG the employee has been verified, payment of the accumulation under the Savings Fund of CGEGIS be made without awaiting confirmation of deduction of each monthly subscription of CGEGIS as service verification is carried out based on the monthly salary payment and CGEGIS subscriptions are mandatory deductions from those payments. • Recently, the government has issued the Table of Benefits for the Savings Fund to the beneficiaries under the CGEGIS 1980 for the quarter from October to December, on the interest rate of 7. 9 per cent compounded quarterly.
Retirement Benefits • Railway Servants who have been appointed or or after 1. 1. 2004 New Pension Scheme will apply. Benefits to all staff at Death/Retirement • Pension/Family pension. • Gratuity. • PF at the credit of the employee. • VPF deposit money. • Amount under Group Insurance Scheme. • Encashment of Leave. • Travelling Allowance for self and members of family as on transfer. • Composite Transfer Grant. • Settlement/Kit pass.
Retirement Benefits to all staff at Death/Retirement • Incidental charges for loading of kit. • Amount under Deposit Linked Insurance Scheme. • RETENTION OF QUARTERS • In case of death/disablement appointment of dependant on compassionate grounds. • In case of death, out-of turn allotment of quarters to dependant. • Post-Retirement Complimentary Pass. • Facilities of Medical Attendance.
RETIREMENT GRATUITY • RETIREMENT GRATUITY : It is a lumpsum payment granted to a Railway servant or his/her nominee on his/her retirement or medical invalidation. • How is it calculated ? • Railway employee who has completed 5 years of qualifying service is entitled for retirement gratuity. • The gratuity depends upon the qualifying service and the last pay and grade pay drawn by the employee. • It is calculated at the rate of half of the emoluments for each completed six monthly period of qualifying service subject to a maximum of sixteen and half times the emoluments and the total amount should not exceed ` 10, 000/- (Rupees Ten lakhs). • The entire gratuity will be withheld in case the employee does not vacate the railway accommodation provided to him. • Formula for Non-Running Staff Gratuity = (Pay in the Pay Band + Grade Pay + DA) x Qualifying Service/2
RETIREMENT BENIFITS • PROVIDENT FUND • This is paid to the employee at the time of retirement from his/her own contribution together with interest thereon. • The employee can exercise nomination to avoid delay in settlement in the event of his/her unfortunate death. • He/she can nominate one or more persons for receiving the PF amount. • In case, he/she nominates more than one person, percentage of shares to be paid to each should also be indicated. (Authority: Rule 941 R-I). • LEAVE ENCASHMENT • Leave salary is a lumpsum onetime payment of the unavailed leave at credit at the time of retirement or death. This is limited to the maximum of 300 days of LAP. • In case any short fall of 300 days LAP, LHAP from his/her credit will be taken for the purpose of leave encashment to the extent of shortfall of number of days of LAP. • Accordingly the amount towards shortfall of LAP is equivalent to half pay.
RETIREMENT BENIFITS • RETENTION OF QUARTERS : The permissible period for retention of Railway accommodation in the event of retirement is as under: • In case of Retirement Retired employee including voluntarily retired employee can be permitted to retain the Railway accommodation for the first 4 months on payment of normal rent/ flat rent of license fee and for the next 4 months on educational or medical grounds on payment of special license fee (i. e) double the normal rent/ flat rate of licence fee/rent subject to production of requisite certificate in support of the request. (Authority Rly. Board’s letter No. E(G)2000/CR 1/23 dt. 30. 11. 2000 ) • In case of Death The family of Railway employee who dies while in service can be permitted to retain the Railway accommodation for a period of 2 years on payment of normal rent/ flat rent of license fee. (Authority Rly. Board’s letter No. E (G) 98/CR 1/11 dt. 17. 8. 99)
RETIREMENT BENIFITS • Regularisation of Railway Quarters • The retiring Railway employee can however get the Railway quarter regularised in favour of his/her son/daughter who is also Railway employee at the time of his/her retirement provided, a) the son/daughter lived in the Railway quarters for at least 6 months duly foregoing house rent allowance and b) the son/daughter is also eligible for the type of quarters being shared. However, married daughter and daughter in-law are not eligible for regularisation/out of turn allotment of Railway Quarters
RETIREMENT BENIFITS Fixed Medical Allowance (FMA) Retired employees with 20 years of qualifying service are eligible for grant of FMA at the rate of Rs. 300/- per month and the same is paid along with pension / family pension subject to the following conditions. (i) The pensioner/family pensioner is residing beyond 2. 5 kms from the nearest health unit. (ii) The pensioner/family pensioner is not availing the facility of OPD (except in cases of chronic diseases) Joining RELH Scheme is not a pre condition to claim FMA mere eligibility to enrol under the scheme is sufficient. The widow who has been appointed on Compassionate grounds is not eligible to draw FMA.
RETIREMENT BENIFITS Post Retirement Complimentary and Special Passes Post retirement passes are issued to the retired employees and to their eligible dependents in the event of death or exit from service. Entitlement for post retirement complimentary passes Service rendered No. of Passes in Rlys Group “A” & “B” Group “C” Group “D” 20 yrs and above but less than 25 yrs 2 sets 1 set 25 yrs and above 3 sets 2 set
RETIREMENT BENIFITS Settlement Pass / Kit Pass • Employee in the event of retirement and widow/widower in the event of death of employee are issued passes for self/family members/dependents for transportation of personal effects to the place where employee / family intend to settle after retirement/death of employee. • Such an application for settlement pass shall be submitted within one year of retirement / death and the pass is valid for a period of three months. • However, GM can condone delay up to two years from the date of retirement /death. Kit pass is admissible for free transportation of house hold effects up to specified limits in terms of Bd’s Letter No E (W) 96 PS 5 -9/1 dated 1/6/2000. Revised entitlement of kit pass on implementation of VI CPC recommendations have been issued in terms of Bd’s letter No. E (W) 2004 PS 5 -9/1 dt 17. 06. 09
RETIREMENT BENIFITS Settlement Pass / Kit Pass • Employee in the event of retirement and widow/widower in the event of death of employee are issued passes for self/family members/dependents for transportation of personal effects to the place where employee / family intend to settle after retirement/death of employee. • Such an application for settlement pass shall be submitted within one year of retirement / death and the pass is valid for a period of three months. • However, GM can condone delay up to two years from the date of retirement /death. Kit pass is admissible for free transportation of house hold effects up to specified limits in terms of Bd’s Letter No E (W) 96 PS 5 -9/1 dated 1/6/2000. Revised entitlement of kit pass on implementation of VI CPC recommendations have been issued in terms of Bd’s letter No. E (W) 2004 PS 5 -9/1 dt 17. 06. 09
RETIREMENT BENIFITS Widow Complimentary Pass • Widow / widower of the retired employees who have opted for the widow pass scheme are eligible for half the number of post retirement pass that her / wife would have been eligible for the service rendered / or was receiving at the time of his / her demise of the retirement. • In case of demise of the railway servant even the service rendered is less than 20 years, widow / widower is entitled for grant of one set of pass every alternative year.
Thanks
- Slides: 20