""FLASH NEWS""

""HAPPY TO INFORM YOU ALL DUE TO CONTINUOUS EFFORTS PUT IN BY 'NFGIE', THE 'GIPSA' INSTRUCTED MEMBER COMPANIES TO TREAT "MBA" MARKS AS TECHNICAL QUALIFICATION INSTEAD OF ACADEMIC QUALIFICATIONS IN THE CURRENT YEAR PROMOTIONAL EXERCISE""...Hats off to "NFGIE"..."" Current year promotional exercise be over by 31st October, 2014. Current exercise will be on existing policy.Demanded full committee discussion in next round.""".DA INCREASED BY 34 SLABS FROM 1STaUG 2014"".''EPF Interest may be raised to 9 % for the year 2014-15 – EPF Interest for 2013-14 is 8.75%""...""INCOME-TAX SLAB MAY RAISE TO RS.3 LAKHS FROM EXISTING RS.2 LAKHS IN THE ENSUING BUDGET SESSION"".. PROPOSAL OF REVOKING TO 6 DAYS WEEK WORKING IS DROPPED BY MINISTRY""... "" 'NFGIE' IS VIGOROUSLY PURSUING ABOUT LONG PENDING WAGE REVISION FOR ALL 'PSU' GENERAL INSURANCE EMPLOYEES WITH CHAIRMAN,GIPSA AND FINANCE MINISTRY, IN THE WAKE OF FORMING OF NEW GOVERNMENT AT CENTER.....UNDERSTAND FROM RELIABLE SOURCES THAT "CHAIRMAN, GIPSA" IS ALSO VERY KEEN ON THIS MATTER. AND VERY SHORTLY ALL THE CHECK-OFF QUALIFIED UNIONS WILL BE CALLED FOR FURTHER NEGOTIATIONS"" . ... "" New India Registered 15% growth in premium; Premium in India : Rs.11540 Cr.; Global premium:Rs.14304 Cr. and profit after tax Rs.1089 Cr. for 2013-14 (.)""..."" United Registered a premium of Rs.9708.93 Cr with a net profit of Rs.527.60 Cr (previous year Rs.527.33 Cr.) for 2013-14 F.Y.-Growth rate @ 11%; The board has recommended a dividend of 20%for 2013-14(.)"" PF Election Result Declared in NEW INDIA our "NFGIE" Panel 2, 5, 7 & 8 win WITH THUMPING MAJORITY DETAILS as follows: BALLOT NO1089 ., NAME, NO. OF VOTES SECURED RESPECTIVELY:- 2 VITTHAL CHAVAN 8135; 7 ANIL SONAWANE 8114; 8 VENKITASUBRAMANIAN 8109; 5 RAVI SAWANT[V.A.] 8013; NOW "BVKS PANNEL" WHO LOST THE BATTLE ONCE AGAIN : 1 VIJAY AGATE 7431; 3 VIJAY DICHOLAKAR 7020; 4 SASI P R 6996; 6 DR AMRISH SINHA 6959. WE EXPRESS OUR SINCERE THANKS AND GRATITUDE TO ALL WHO SUPPORTED "NFGIE PANNEL" GOT ELECTED WITH THUMPING MAJORITY AND REPOSED CONFIDENCE IN 'NFGIE' WHO ONLY CAN PROTECT HARD EARNED PROVIDENT FUND OF EVERY NEW INDIAN.""

""RBI ALLOWS FPIs/FIIs and NRIs TO INVEST UP TO 26% UNDER THE AUTOMATIC ROUTE SHALL BE PERMITTED IN THE INSURANCE AND ALLIED ACTIVITIES...W.E.F. 4TH FEB.,2014 ""...."" The AICPI for Jan., 2014 :237 and for Feb.,2014 at :238 points, For March expected 239 points.."".."" The country's largest non-life company — New India Assurance — will soon seek the regulator's approval to sell a combined policy that covers personal accident, household and health insurance.""...."Retirement fund body Employees Provident Fund Organisation (EPFO) on Monday(14TH JAN.,2014) announced a rise in interest rate on provident fund (PF) deposits to 8.75 per cent for 2013-14, to benefit 50 million subscribers""..... "" SERVICE IS THE GATE WAY TO GROWTH "".."23rd JULY IS NEW INDIA'S FOUNDATION DAY(23rd JULY,1919)""..""WHETHER CLIENT IS BIG OR SMALL SERVE TO ALL""..

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Tuesday, September 2, 2014

"MBA" marks accepted by GIPSA as Technical Qualification

Dear All,

Upon continuous efforts/follow-up by Mr. Sujit Bagchi, General Secretary, National Federation of General Insurance Employee, Mumbai (our apex body) with "GIPSA" management, at last GIPSA decided to continue to treat "MBA" marks as Technical Qualification for the current promotional exercise.  This a great boon to aspirant promotees.

Wishing all the best to promotion aspirants.

With Warm Greetings,

M. HANUMANTHA RAO              T. GOPALA KRISHNA
PRESIDENT-GICEU-AP        GENERALA SECRETARY-GICEU-AP

Sunday, August 10, 2014

"" P L L I ""


Dt. 06.08.2014
To
The General Secretary/Working President
NFGIE :HO

Dear Sir,

Recently our Director-General Manager Mr.K Sanath Kumar  released administrative Instructions on Payment of Profit Linked Incentive Scheme for the year 2012-13 along with the list of eligible few  offices under respective Regional Offices.

We all are well aware of the fact that Trade Unions are demanding for Profit Linked Incentives to all the employees in the Industry irrespective of cadre and class.

Basing on Trade Unions demand the  PLLI was distributed to all employees only once earlier somewhere during the period 1991-1994 after the  Wage Revision.  Having agreed by GIC/GIPSA  instead of continuing the same on yearly when ever company showing profits, but management  stopped  the benefit by putting several conditions.

Members are demanding for PLLI to all  basing on the over all performance of the HO not on  selected operating  individual offices.  We are also suggesting that as the name itself "Lump sum Incentive" which is invariably has   to be distributed all the employees equally and an additional top-up-amount can  be given selected offices where fulfill the PLLI criteria.  Amount is not criteria but profit of  over all New India should be given to all the employees which will give moral boost up to all the employees.

Recently our HO management instructed all the Regional Office granted Rs.200/- each employee as a token of small treat on the occassion of 96th foundation dayEvery employee of this industry was happy with this but no body count about the money.

Please take up the issue suitably with HO management as well as GIPSA there is the need to make it an annual feature hereafter in the interest of the welfare of the organization.

टी. ग़ोपाला कृष्णा
T.Gopala Krishna
General Secretary

Friday, August 8, 2014

Income Tax 2014-15 – what are all the changes affecting Salaried Employees ?

 Income Tax 2014-15 (Assessment year 2015-16)

In case of individual (other than II and III below) and HUF
Income LevelIncome Tax Rate
i.Where the total income does not exceed Rs.2,50,000/-.NIL
ii.Where the total income exceeds Rs.2,50,000/- but does not exceed Rs.5,00,000/-.10% of amount by which the total income exceeds Rs. 2,50,000/-***
iii.Where the total income exceeds Rs.5,00,000/- but does not exceed Rs.10,00,000/-.Rs. 25,000/- + 20% of the amount by which the total income exceeds Rs.5,00,000/-.
iv.Where the total income exceeds Rs.10,00,000/-.Rs. 1,25,000/- + 30% of the amount by which the total incomeexceeds Rs.10,00,000/-.

II. In case of an individual resident who is of the age of 60 years or more at any time during the previous year:-
Income LevelIncome Tax Rate
i.Where the total income does not exceed Rs.3,00,000/-.NIL
ii.Where the total income exceeds Rs.3,00,000/- but does not exceed Rs.5,00,000/-10% of the amount by which thetotal income exceeds Rs.3,00,000/-.
iii.Where the total income exceeds Rs.5,00,000/- but does not exceed Rs.10,00,000/-Rs.20,000/- + 20% of the amount by which the total income exceeds Rs.5,00,000/-.
iv.Where the total income exceeds Rs.10,00,000/-Rs.1,20,000/- + 30% of the amount by which the total incomeexceeds Rs.10,00,000/-.

III. In case of an individual resident who is of the age of 80 years or more at any time during the previous year:-
Income LevelIncome Tax Rate
i.Where the total income does not exceed Rs.2,50,000/-.NIL
ii.Where the total income exceeds Rs.2,50,000/- but does not exceed Rs.5,00,000/-Nil
iii.Where the total income exceeds Rs.5,00,000/- but does not exceed Rs.10,00,000/-20% of the amount by which thetotal income exceeds Rs.5,00,000/-
iv.Where the total income exceeds Rs.10,00,000/-Rs.1,00,000/- + 30% of the amount by which the total incomeexceeds Rs.10,00,000/-.

MEETING ON PROMOTIONAL POLICY WITH GIPSA ON 08TH AUG 2014

Dear Friends,

Meeting on promotional exercise over. Current year promotion exercise
be over by 31st October, 2014. Current exercise will be on existing policy.
Demanded full committee discussion in next round. Problem with MBA marks.
Detailed circular follows.


SUJIT BAGCHI
GENERAL SECRETARY
NFGIE, NEW DELHI

8.8.2014