INCENTIVE IN INDIA POST

I) SB commission paid to BPMS

1) one year TD 0.5%

2)Two years & three years TD 1%

3) five years TD 2%

4) POSB 2% on net accretion of not less than

Rs.500.excluding deposit made in March but including withdrawals of March.

II) Incentive@ 2% of the sale of stamps/stationery up to Rs 30/- to each customer.

III) Commission paid to PRSS:

1) One year TD Nil

2)2 &3 year TD 1%

3) 5 year TD 2%

4) 6Year NSC VIII issue 0.5%

IV) MIS

1) Opening of account

a)Supervisor Rs 0.50 per account

b)Asst. Rs 1.00 "

c) LC Rs 0.50 "

2) Payment

a)Supervisor Rs 0.50 "

b) Counter PA Rs 1.00 "

c) LC Rs 0.50 :

Ceiling is for individual for Rs. 500 p.m and not per counter of office

V) Speed Post Incentive

1) Rs.0.50 is payable for each SP article booked where no seperate booking counter is provided for speed post work.

2) Incentive of Rs.0.75 per article booked over and above the threshold specified where seperate post has been sanctioned for speed post work.

3) Incentive of Rs.0.50 per article delivered in addition to his other normal duties.

4) Rs 5/- per customer in respect of articles booked under special journal.

5) No incentive is payable to postman whose return is morethan 2%

NREGS WORK

Incentive is admissible when atleast 10 transactions in the account in a financial year.Both deposits and withdrawals will be taken in to account of the purpose of arriving at the number of transactions.

1. GDS BO with one official only Rs.8.60 per account per annum

2. GDS BO with 2 officials GDS BPM- Rs7.60 per account per annum. Other GDS official-Rs.1.00 per account per annum

3.GDS BO with 3 officials-GDS BPM-Rs.6.60 "

GDS-1 - Rs.1.00 "

GDS-II - Rs.1.00 "

SUB POST OFFICES

Rs.4.40 per account per annum having 10 transactions in a financial year.

SPM(Clss-III)-----------Rs.3.40

Group-D/Packer ------Rs.1.00

SPM (Cl-II & Cl -I)

Supervisor- Rs.1.40

Postal Asst. Rs.2.00

Group-D/Packer Rs.1.00

LSG & HSG POs

Supervisor Rs.1.15

SBPA Rs.2.00

Group-D/Packer Rs.0.50

Treasurer Rs.0.50

C.O Rs.0.25

HEAD POST OFFICES

Supervisor Rs.0.50

LC Rs.1.00

PA.SBCO Rs0.25

SupervisorSBCO RS.0.25

Treasurer Rs.0.50

Group-D/Packer Rs.0.25

C.O Rs.0.25

INCENTIVE ON PLI/RPLI BUSINESS

i)DO PLI------Up to Rs. 9 crores of sum assured---------     Nil/-

Above Rs.4 Crores and up to 6 crores of sum assured-

Rs.20/- per Rs. 10000 sum assured.

Above Rs.6 crores of sum assured "

Incentive for field officer

Up to Rs.30 lacs of sum assured Rs.15/- per Rs.10000 of sum assured

Above Rs.30 Lacs and up to 40 lacs Rs.17.50 "

Above Rs.40 lacs and up to 50 lacs Rs.20/- "

Above Rs 50 lacs of sum assured Rs.25/- "

LUMP SUM INCENTIVE

For effective business of atleast Rs.5 lacs-- Rs.625/- only

" atleast Rs.10 lacs Rs.1250/- only

For effective business of every Rs. one lac Rs.125/- per every one lakh of effective over and above Rs.10/- lacs business

GDS EMPLOYEES FOR PROCUREMENT OF PLI / RPLI BUSINESS

RS.2.50 PER One thousand sum assured.

Rs.1% on renewal of premium

GDS employee incentive rates for RPLI has been revised as 10% of first year premium and 2.5% of subsequent premium deposited by Insurant

SDIs/ASPOs/PRI(P)/POSTMEN/POSTAL ASSTs

RS.25/- per Rs.10000/- sum assured up to 2 crores of sum assured

Rs.20/- per Rs.10000/- sum assured for above 2 crores of sum assured

SDIs/ASPOs shall get commission of 10% on the total incentive paid to GDS staff on sum assured only for 

processing the proposal. 

MO/RURAL POSTMEN

Rs.2.50 per 1000/- sum assured for procuring business

Direct Agents will get incentive as per Field Officers

Sukanya Samruddhi Account

Under the scheme, the account can be opened from the birth of the girl child till she attains the age of 10. A girl child who attained the age of 10 years, one year prior to notification, will also be eligible. The account can be opened by an amount of Rs 1,000 and in a financial year investment ceiling is Rs 1.5 lakh. The child can close the account earliest at the age of 21 years with option of keeping the account till marriage.

For the current financial year, this would work out to 9.1%. For the sake of simplicity, the manner of interest calculation would be similar to public provident fund (PPF).

Latest Finmin Orders Jan 2015 – Foreign tours, Direct Benefit Transfer of LPG and Sukanya Samridhhi Account

The Finance Ministry has issued some important orders today on its portal, the same is reproduced and given below for your kind information…

1. Foreign tours/travels as part of Training Programmes — approval of Screening Committee of Secretaries (SCOS).

2. Direct Benefit Transfer / Direct Benefit Transfer of LPG (DBTL) — payment of Commission to Banks.

3. Launch of scheme for Girl Child named “Sukanya Samridhhi Account’ by Hon’ble Prime Minister

Foreign tours/travels as part of Training Programmes — approval of Screening Committee of Secretaries (SCOS).

No. 7(1)IE.Coord/2014

Government of India

Ministry of Finance

Department of Expenditure

North Block, New Delhi

25th November 2014

OFFICE MEMORANDUM

Subject: Foreign tours/travels as part of Training Programmes — approval of Screening Committee of Secretaries (SCOS).

Instructions have been issued by this Department from time to time on the need to curtail expenditure on foreign travel. In recent months it has been observed that Ministries/Departments have been proposing Foreign Study Tours (FSTs) of large delegations of officers as a part of training programmes. In keeping with the Government’s drive on economy and rationalization of expenditure and to have an objective assessment of such FSTs, it has been decided that prior approval of the Screening Committee of Secretaries would be required for all FSTs of delegations exceeding 5 members (irrespective of level/rank of officers), where Government of India is funding such tours and which are part of career training programme(s)

or stand alone tours or otherwise.

2. This has the approval of Cabinet Secretary.

sd/-

(N. Radhakrishnan)

Director(E.Coord)

Direct Benefit Transfer / Direct Benefit Transfer of LPG (DBTL) — payment of Commission to Banks

F.No.32 (07)/PF-II/2011(VoI.II)

Ministry of Finance

Department of Expenditure

(PF-II Division)

North Block, New Delhi

Dated: the 16th of January, 2015

OFFICE MEMORANDUM

Subject: Direct Benefit Transfer / Direct Benefit Transfer of LPG (DBTL) — payment of Commission to Banks.

The issues relating to the payment of appropriate commission with respect to payments made under the Direct Benefit Transfer (DBT)/Direct Benefit Transfer in LPG (DBTL) schemes of the Government have been under active consideration of the Government for some time. The matter has been examined in detail, and in supersession of earlier OMs issued in this regard, it has been decided that:

(i) For urban based DBT schemes like DBTL, the transaction cost may be paid at the NEFT rate as per the extant RBI circular or the APB rate as per the extant NPCI circular (as applicable). The ‘on us and “off-us distinction, wherever it exists, should be maintained on the basis of actuals.

(ii) For rural based DBT schemes like pensions, NREGA, pre-matric scholarship, maternity benefits etc. where a large number of transactions are likely to be through the Banking Correspondents, the transaction charges may be paid @ 1% subject to an upper limit of Rs.10 per transaction, in addition to what is required to be paid vide (I) above.

(iii) The transaction cost may be paid at the time of credit of benefit transfer into the accounts of beneficiaries from the same budget line from which the respective scheme funds / benefits are being transferred.

(iv) This OM will come into immediate effect and may be reviewed from time to time.

2. This issues with the approval of the Finance Minister.

sd/-

(Chittaranj Dash)

Director (PF. II)

Launch of scheme for Girl Child named “Sukanya Samridhhi Account’ by Hon’ble Prime Minister — rate of interest reg.

IMMEDIATE

F. No.2/3/2014.NS-II

Government of India

Ministry of Finance

Departnìent of Economic Affairs

236, North Block, New Delhi-110001

Dated the 20th January, 2015

OFFICE MEMORANDUM

Subject: Launch of scheme for Girl Child named “Sukanya Samridhhi Account’ by Hon’ble Prime Minister — rate of interest reg.

In compliance of announcement by Finance Minister in his Budget Speech 2014-15 the Government of India has introduced a new scheme named “Sukanya Samriddhi Account” vide Notification No.GSR No.863 (E) dated 2nd December, 2014. It has been decided to allow 9.1% rate of interest on investments in the scheme during the financial year 2014-15.

This has the approval of Union Finance Minister.

sd/-

Under Secretary to the Govt of India

Source document from www.finmin.nic.in

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