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Wednesday, 27 February 2019

This rule of 26 years old has changed, for public employees

This rule of 26 years old has changed, for public employees

New Delhi: The Central Government has changed the 26-year-old rules attached to the major relief to government employees and the mutual fund attached to it. Government employees have increased the limit of disclosure of share details and investment details in mutual funds. This limit has been increased to the basic salary of the employee for six months. So now government employees can invest up to six months' worth of basic salary and mutual funds.

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All the departments have been informed about this by the Ministry of Personnel. This decision by the government has changed the rules of the monetary limit for almost 26 years.

According to the previous rule, Group A and Group B officials had to give details of transactions greater than Rs. 50,000 in one calendar year in the shares, securities, debentures or mutual fund schemes. When this limit for Group C and D employees was 25,000 rupees.

However, according to the new rule, the employee will have to give details of his investment only if the investment in one year is more than his six-month basic salary. According to officials, after the implementation of the recommendations of the Seventh Pay Commission, the salaries of government employees have increased. Keeping this in mind, this limit has been increased.

The government has decided to seek details of employees so that the administrative officer can monitor the transactions. According to the rules, any government employee can not make speculative activities in any stock or other investment. If an employee is selling frequently buying shares, securities and other investments, it will also be considered a speculative activity. Sometimes the investment made by a broker or other authorized person is allowed.

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