Uploaded by MAHENDRA SINGH VERMA

ET2014rev

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WELCOME
TO
THE EXECUTIVE TRAINING PROGRAMME
By:
CMA K L Dhiman
Sr. Officer (F&A)
NJHPS, SJVN Ltd, Jhakri
Training Period and Pay Scale:
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Executive Trainees shall be on training for a period of one
year
On completion of training, placement at E2A level in the
Pay scales of Rs. 24900-35500.
Pay Scales of executive levels upto E9 are as under:
E2 20600-46500
E2A24900-50500
E329100-54500
E432900-58000
E536600-62000
E643200-66000
E7-E9 51300-73000
Increment is 3% pa.
Total Emoluments to be drawn per month:
Particulars
Amount (Rs.)
Amount (Rs.)
(E2 Level)
(E2A Level)
BP
20600
24900
DA @ 90.5% of BP
18643
22535
1236
1494
Cafeteria Allowances @ 47%
9682
11703
Local Travel Reibursement
3220
4400
PRP @ 40% (Max)
8240
9960
House Rent Allowance @ 10%
2060
2490
63681
77482
EPF @ 12 % of (BP+DA)
4709
5692
EPF (Matching Contribution)
4168
5151
541
541
DCPS - Employee Contribution @ 5% (BP+DA)
1962
2372
DCPS - Employer Contribution @ 10% of (BP+DA)
3924
4744
DAA @ 6%
If posted at Jhakri – 6%
If posted at Sunni/Parwanoo – 4%
(If posted at Nathpa/UK Projects – 10%)
If posted at Jhakri/Nathpa/Other Projects – 10%
If posted at Shimla
– 10%
If posted in Delhi
– 30%
If allowed to keep family in Metros or other cities –
– Rate applicable for that city
Total Earnings
EPS (Pension Scheme)
Income Tax (TDS at avg rate of tax)
Net Salary to be drawn per month
Particulars
Amount (Rs.)
Amount (Rs.)
(E2 Level)
(E2A Level)
BP
20600
24900
DA @ 90.5% of BP
18643
22535
1236
1494
Cafeteria Allowances @ 47%
9682
11703
Local Travel Reibursement
3220
4400
53381
65032
EPF @ 12 % of (BP+DA)
4709
5692
EPF (Matching Contribution)
4168
5151
EPS (Pension Scheme)
541
541
DCPS - Employee Contribution @ 5% (BP+DA)
1962
2372
3924
4744
4000
5000
532
744
42178
51224
DAA @ 6%
If posted at Jhakri – 6%
If posted at Sunni/Parwanoo – 4%
(If posted at Nathpa/UK Projects – 10%)
Total Earnings
DCPS - Employer Contribution @ 10% of (BP+DA)
TDS (Income Tax) at avg rate of tax
GSLI
Net Salary per month:
Cost to company (CTC):
Particulars
Amount (Rs.)
Amount (Rs.)
(E2 Level)
(E2A Level)
BP
20600
24900
DA @ 90.5% of BP
18643
22535
1236
1494
Cafeteria Allowances @ 47%
9682
11703
Local Travel Reibursement
3220
4400
20930
22730
EPF MC 12%
4709
5692
DPCS 10%
3924
4744
CL, RH & SAL (25 Days)
2725
3294
EL & HPL
3815
5271
625
625
8240
9960
Free Elecricity 100 units pm
200
200
Diwali/b'day Gift
250
250
Qtr benefit
2000
2000
Medial Benefit (minimum)
2000
2000
200
200
102999
121998
1235988
1463976
DAA @ 6%
If posted at Jhakri – 6%
If posted at Sunni/Parwanoo – 4%
(If posted at Nathpa/UK Projects – 10%)
Lease Rent (Metro cities)
Livery
PRP @ 40%
Club etc
Total Earnings
Annual CTC
Other Perks:
Particulars
Special Duty Allowance (Nathpa) – 167/- per night spent (E2-E5)
Amount (Rs.)
Amount (Rs.)
(E2 Level)
(E2A Level)
0
0
0
0
0
0
X-Cities
20930
22730
Y-Cities
16280
17680
Z-cities
11630
12630
X-Cities
1780
1780
Y-Cities
1340
1340
Z-cities
890
890
Nathpa - 5010/UK Projects - 7980/Khab -13980/Night Shift Allowance: (maximum 7 Nights)
E2/E2A - Rs. 170 per night, E3 – Rs. 225 per night
Livery [paid annually] - Rs. 7500 pa (i.e. Rs.625 pm)
Lease/Self-Lease Accommodation:
Lease Recovery
Cafeteria Allowances (Max 47%):
Particulars
Percent
Canteen / Meal vouchers
7.5
CEA
10
Hostel
10
Conveyance/Transport
5
Washing Allow.
5
R/m of Vehicle Repair
5
Professional Dev. Allow.
10
News Paper Allow.
5
Domestic Help Allow.
10
House Upkeep Allow.
5
Self Development
15
Club Membership Allow.
10
Gardener Allow.
10
LTC
15
Other Allow.
10
Performance Related Pay (PRP):
Upto E2A 40% (of BP)
E3 to E4 - 50%,
E5-E6 60%,
E7&above 70%
Directors – 150%
CMD -200%
60% of PRP from 3% of PBT
40% of PRP from 10% of Incremental Profits
Total PRP not to exceed 5% of PBT
PRP 60% if there are no Incremental Profits.
Parameters
Weightage
Ex 100%
VG 80%
G 60%
Avg 40%
Poor 0%
MOU
40%
16
12.8
9.6
6.4
0
BSC
50%
20
16
12
8
0
AAR
10%
4
3.2
2.4
1.6
0
Total
100%
40
32
24
16
0
(Calculated for E2
& E2A Levels)
Foreign Compensatory Allowance
Rates in Bhutan/Nepal applicable from 01.04.2011
Category
Amount (Rs.)
E4-E5
93031
E2/E2A
83338
S3-S4
54351
S1-S2
46597
W1-W7
46597
Allowances not to be paid in Bhutan/Nepal:
1. Dearness Allowance
2. DAA
3. Local Travel Reimbursement
Income Tax payable to be borne by SJVN (around 22% out of 25% or so).
Mobile Reimbursement:
 E2 to E3 & Supervisors : 300/- + ST = 337/- pm and Mobile
Set : Rs. 3000/- plus vat 5%
 E4 – E5 = Rs. 750 pm + ST and Mobile Set – Rs. 4000/- + vat
 E6 – Rs. 1500 pm + ST
 E7 – Rs. 2500 pm + ST
 E8 & above – 4500 pm + ST
 Workmen: 200/- + ST = 225/- (on requirement basis) and
Mobile Set - Rs. 2000/-
Tax on salary Income:
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BP, DA, FPA, PRP, cafeteria allowances etc are taxable and
considered for computation of income tax.
Maximum Savings allowed up to Rs 100000/- (u/s 80C).
Exemptions U/s 10:
1. DAA – Rs. 750*12 =9000 for Jhakri & 1300*12=15600 for Nathpa.
2. Conveyance: Car – 1800 PM & Scooter – 800 PM.
3. Tuition/Hostel: TF – 100 PM Per Child & for Hostel – 300 PM Per
Child (Max upto two children).
4. LTC: Journey fare only for self & dependants once in two years.
5. Canteen Allowance: Exempted to the extent of Sodexo Meal
Vouchers (Max Rs. 2500 pm). Sodexo Vouchers in multiple of Rs.
50/6. HRA: Least of these: i) HRA Received ii) Rent paid - 10 % of
salary iii) 50% (metros) /40% (others) of salary
Interest accrued during the year on HBA is allowed as deduction
upto Rs 150000/-. Deduction for loan taken before 1.4.99 – Rs.
30000/-. Addl. Deduction u/s 80 EE – 100000/-.
Tax Rates for the Financial Year 2013-14:
Range (Taxable Income)
Rate
Upto Rs. 200000/-
Nil
Rs 200001 – Rs 500000
10%
Rs 500001 – Rs 1000000
20%
Above Rs 1000000
30%
Income Tax Exemption:
For Sr. Citizen (above 60 years) – Rs. 250000/For Very Sr. Citizen (above 80 years) – Rs. 500000/Education Cess: 2% on total tax.
SHEC: 1% on total tax
Surcharge @ 10% if Taxable Income > Rs. 1 Cr
Deductions under IT Act
 Sec 80C: Max Rs. 100000 allowed on savings like EPF, LIC
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Premium, HBA repayment, NSC, ULIP/MF, Tuition Fee, FD for 5
yrs or more etc.
Sec 80D: Medical Insurance Premium: Amt of Deduction : Rs.
15000/20000 (for citizens).
Sec 80DD: Medical Treatment of Dependant Handicap,
Disability 40-80% = Rs. 50000 and for > 80% = Rs. 100000.
Sec 80E: Interest on Loan for Higher Education: Amount paid
during FY.
Sec 80U ( for handicapped individuals): same as Sec 80DD.
Sec 80TTA: Saving Account Interest exempted upto Rs. 10000.
Gratuity: upto Rs. 10 Lac (Govt Emp exempted).
Leave Encashment at Retirement: Exempted upto Rs. 3 lac (Govt
Emp exempted).
Sec 87A: Rebate upto Rs. 2000 if taxable income < Rs. 5 Lac.
Loans & Advances:
HBA:
 upto Rs 20Lac which is paid in three installments (30%,
40% & 30%) provided employee has completed 3 years
service in SJVN.
 Interest rates ranges from 6, 7, 7.5, 8.5, 9 & 9.5%.
 HBA is least of the following: 1) 90 months salary, 2)
100% cost of construction or Rs. 20 Lac w.e. is less.
Car/Scooter Advance:
 Eligible after completing 1 year of service in E2A.
 Amount of Advance shall be 90% of Bajaj Scooter (Max
50000/-) or 90% Maruti Alto Market Price.
 Interest Rate – Car 8.5% and Scooter 7.5%.
 Ex/Sup/wm – 50000/- (for Scooter), Car Adv LimitsE2A-E4 – Rs. 3 lac, E5-E6 – Rs. 5 Lac & E7 & above –
Rs. 6.5 Lac. W8-S4 Rs. 2.30 Lac.
Other Advances
 Furniture Advance (Interest free): BP+DA
 Multipurpose Advance (Interest free): Equivalent
to One month Basic Pay plus DA.
 Computer Advance: Eligible after completing 1 year
service. Amount of Advance shall be 80% of cost of
computer subject to the maximum of Rs 45000/-.
Interest Rate –7%.
 Education Loan: Within India Rs. 10 Lac and abroad
Rs. 15 Lac. Interest – 7.5%.
 Laptop Advance: upto Rs. 50000/- (for Executives)
and this amount will be depreciated fully in 4 years.
After 4 years, this can be bought back by depositing
Rs. 5000/-.
Paid Rs. 5000 each for replacement of battery and
antivirus s/w.
Other Entitlements

Medical
facility:
For
Trainees/ETs
–
Reimbursement for self only and thereafter for
dependents also.

Full reimbursement for treatment in Govt. as
well as empanelled hospitals.

Treatment in Private Hospitals – restricted to
Holy Family, Delhi (A–100%, B-80% & C-60% CCA classification).
TA/DA Entitlements:
By Rail:
Category
Ord. Trains
Rajdhani
Shatabadi
W1-W6
III C AC Sleeper
NA
AC Chr Car
E2 to E6 / Supervisors
I C/II C AC Sleeper
AC III Tier
AC Chr Car
AC I C
Ex Class
E7 & above
I C/AC I C
By Air/Road:
Category
All Workmen
ET/Sup
E2A to E4
E5 to E6
E7 & above
Air
Road
NA
NA
NA
Admisible
Admisible
Actual Bus Fare
Single seat in taxi ltd to Rs. 3/KM
Single seat in taxi ltd to Rs. 4/KM
Actual Taxi Fare ltd to Union Rates
Actual Taxi Fare ltd to Union Rates
Local Conveyance on Tour
Journey by own car/Scooter:
Local Conveyance:
Car
Rs. 6/KM
Scooter
Rs. 2.30/KM
Rs. 1500/week
>7days
Proportionately
Accommodation & DA:
Item
Category
Hotel
Sup/WM Trainee
Pr City (Mum,Del &
Bglre)
Other Pr City
Ord City
630
495
396
Sup (S1)
1680
1320
1056
E2/E2A
3150
2475
1980
Sup/WM Trainee
110
88
88
E2/E2A
155
124
124
Composite
Sup/WM Trainee
180
144
144
Journey DA
E2/E2A
230
184
184
DA
Leave Rules:
 Earned Leave – 30 Days PA (During Training
period: 25 days)
 HPL – 20 days PA (During Training period: 10
days).
 Casual Leave – 12 days PA
 Spl Addl Leave – Jhakri- 7 Days

- Nathpa – 10 days
 Restricted Leave – 6 days PA
 Maternity / Paternity Leave –180 days / 15 days.
 Encashment of EL – Twice in a calendar year.
Transfer Benefits:
 Transport Charges:
Workmen - 20 Qtl
Supervisor - 40 Qtl
E2/E2A – 60 Qtl
E3 & above – Full 8-wheel wagon or actual truck fare w.e. is less.
Rates: Train connected places = Goods Train rates, Other places =
Transport union rates, from home to railway station = 50p/km/qtl
 Transfer Grant: Non- Ex - Rs. 6000/- & All Ex - Rs. 10000/ Packing Charges –
E6 & above – 5000/-,
E2 to E5 - Rs. 3500/-,
Supervisors - Rs. 2500/Workmen - Rs. 2000/-.
 Transfer Pay Advance: 2-month’s BP+DA. Recoverable in 12
instalments.
Retirement / other Benefits
 Gratuity: Minimum 5 years service. Formula:
(BP+DA)*15/26*No. of years of service.
 GIS: Insurance Cover – E6& above –Rs.198000, E2E5 Rs. 168000, Rs. 113000/-(Workmen) & 138000
(S1).
 GPAIS Policy: Sum Assured: 50-months BP plus
DA (Rs. 15 Lac Min).
 Leave Encashment upto 300 days (HPL also
considered without commutation.
 DPCS (Pension Scheme w.e.f. Jan 2007): Pension
based on accumulated balance with applicable
interest at the time of leaving SJVN.
 EPF Pension from RPFC
GSLI Scheme (compulsory for all after Jul 2003):
Amount payable by insurer on normal superannuation is 65%
of Contribution with 9.25% interest.
Category
Contribution PM
Without Accident With Accident
(Normal Death)
Workmen W1
160
1.50 L
3.0 L
W2-W7
372
3.5 L
7.0 L
W8-W11
532
5.0 L
10.0 L
Supervisors S1-E2
532
5.0 L
10.0 L
Executives >E2
744
7.0 L
14.0 L
Other Welfare Schemes
 Death Relief Scheme:
o Contribution: Rs. 500 for executives and
Supervisors & Rs. 350 for Workmen is deducted
from each member employee when the death
occurs.
o Total Rs. 15 lac is paid by SJVN.
o Funeral Charges – Rs. 30000/- also paid.
 Employees Self-contributory Pension Scheme
(from LIC):
o Minimum Contribution – Rs. 500 PM and can be
increased in multiples of Rs. 100/-.
o Interest 9.25%
Quarter Recovery
Qtr Type
0
A
B
C Type & D Type
Workmen
Supervisors
100
190
230
Executive
200
200
All Executive
530
E2 & above
650
E3 & E4
830
E5 & above
290
660
Club: Deduction:
 Rs. 200, 150 & 90 PM respectively for Executives,
Sup & Wm
 Matching contribution is Rs. 100 pm per employee.
Free Electricity:
 Type 0 – 60 units pm
 Type A – 80 units pm
 Type B - 100 units pm
 Type C – 120 units pm
 Type D – 140 units pm
 For Reimbursement Supervisor/Workmen – Rs.
68/- & Executives – Rs. 86/-.
THANK YOU!!!
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