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Saturday, March 20, 2010

Himachal Govt. declares Pay Arrears

The Himachal Pradesh Govt. has  decided to release the first installment of revised pay arrears of all government employees. Govt. has decided to give pay arrears in installments spread over next few years. Much to the disappointment of employees who were hoping to get in lump sum or two installments of  40% and 60% the new orders state that maximum of Rs.10,000 will be credited to GPF accounts of employees after deducting income tax and will be given in cash to pensioners. The decision of fund starved Himachal Govt. is for sure a setback for pensioners who totally rely on pension and savings. With increasing inflation, health problems at old age the lump sum amount might have given them some breather. Govt. will actually have the share of their income in the form of interest which pensioners would have earned by investing the lump sum in FD, Post office monthly income scheme etc.

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