Tuesday, June 9, 2015

TS Cir. Memo No 509 Pay Fixation for CPS Employees in RPS-2015

Fixation of pay of CPS employees in PRC 2015
  1. Circular Memo.509/A/102/A2/HRM.V/2015 Dt:3-6-2015
  2. As per the new pension scheme which is contributory in nature, the pension contribution in nature, the pension contribution shall be made at 10% of hte pay plus Da. consequent to implementation of PRC recommendation with monetary benefit from 02-06-2014, the employees covered under new pension scheme have to contribute pension contribution on revised pay plus DA.
  3. The DTA, telangana is directed to comply with the rules with reference to the CPS duly by deducting 10% contribution on revised pay & DA with effect from 2-6-2014 & also make matching employers contribution to fund managers.