Levy of Service Charges for Electronic Payment Products and Outstation Cheque Collection By Banks

Please find here letter issued by RBI to various banks regarding above mentioned subject. This will help us in dealing with our Banker
Source here

CHECK POINTS FOR PREPARATION OF TENDER ENQUIRY

Ensure that
1. Standard and correct forms are used for tender enquiry and all amendments authorized to these forms from time to time are carried out before issue.
2. Time and date for receipt and opening of tenders are indicated as per the guidelines.
3. The prescribed time been allowed to the to the tenderers to submit their quotations, depending on the type of enquiry being issued.
4. The period for which the tenders are to be kept open for acceptance been indicated realistically keeping in view the nature of the store and the time lag likely to be involved where consultation with the indentor on the suitability of offers received would become necessary.
5. The amount to be furnished by unregistered firms as EMD been calculated correctly and indicated if the enquiry is for purchase against adhoc indent ?
6. Description of stores including specifications/drawing is correctly indicated in the schedule.
7. The sources from where the specification/drawing can be obtained are indicated.
8. If stores are required as per BIS specification a clause for giving Purchase Preference to ISI Marked stores is included.
9. If the store is required to non-standard specification/drawing, required number of copies of drawings/specifications are available.
10. Where tender sample is required to be furnished authority to whom it should be sent for testing and the time within which the sample should be submitted are indicated correctly in the enquiry.
11. If the store is reserved item for purchase from any particular sector of industry a clear indication is given to that effect.
12. Inspecting Authority is correctly indicated.
13. The instructions to invitation to tender and conditions of contract applicable have been correctly indicated in the enquiry.
14. Contract clauses contained in the standard forms used for issue, of tender enquiry and the general and Special Conditions of contract are not reproduced in the tender enquiry.
15. The appropriate price variation clauses in the enquiry where such a provision is necessary has been given along with base price on which firms should offer their prices.
16. Delivery required is correctly given. Where purchase of large quantities of stores are involved delivery may be specified in installment particularly in respect of cases where contracts are likely to be concluded on variable price basis.
17. Insertion of standard pre-estimated Liquidated Damages Clause in Tender Enquiry for claim against delay in supplies.
18. Insertion of modified clause for cancellation of contract and effecting repurchase.
19. In case of purchase of imported stores the appropriate shipping clauses are incorporated. Other special conditions viz. payment terms for FOB/FAS contracts etc. should also be indicated in the enquiry.
20. That all other special conditions as per existing orders are incorporated in the Tender Enquiry.
21. Period of validity of, performance guarantee whether to cover warranty period also.

Efficiency, Economy and Accountability in Public Buying

Public procurement procedures must conform to exemplary norms of best practices to ensure efficiency, economy and accountability in the system.To achieve this objective, the following key areas should be taken care of:
(i) To reduce delays, each Ministry / Department should prescribe appropriate time frame for each stage of procurement; delineate the responsibility of different officials and agencies involved in the purchase process and delegate, wherever necessary, appropriate purchase powers to the lower functionaries with due approval of the competent authority.
(ii) Each Ministry / Department should ensure conclusion of contract within the original validity of the tenders. Extension of tender validity must be discouraged and resorted to only in absolutely unavoidable, exceptional circumstances with the approval of the competent authority after duly recording the reasons for such extension.
(iii) The Central Purchase Organizations should bring into the rate contract system more and more common user items, which are frequently needed in bulk by various Ministries / Departments. The Central Purchase Organizations should also ensure that the rate contracts remain available without any break.
Source: MANUAL ON POLICIES AND PROCEDURES FOR PURCHASE OF GOODS

Vacancy at IIT Bombay Last Date 24/10/2008

Vacancy at IIT Punjab Last Date 7/11/2008

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Transparency, Competition, Fairness and Elimination of Arbitrariness in Public Buying

Public buying should be conducted in a transparent manner to bring competition, fairness and elimination of arbitrariness in the system. This will enable the prospective tenderers to formulate competitive tenders with confidence. The following are some important measures to achieve the same and, thus, secure best value for money:
(a) The text of the tender document should be user-friendly, selfcontained, comprehensive, unambiguous, and relevant to the objective of the purchase. The use of terminology used in common parlance in the industry should be preferred.
(b) The specifications of the required goods should be framed giving sufficient details in such a manner that it is neither too elaborately restrictive as to deter potential tenderers or increase the cost of purchase nor too sketchy to leave scope for sub-standard supply.
The specifications must meet the essential requirements of the user department. Efforts should also be made to use standard specifications, which are widely known to the industry.
(c) The tender document should clearly mention the eligibility criteria to be met by the tenderers such as minimum level of experience, past performance, technical capability, manufacturing facilities, financial position, ownership or any legal restriction etc.
(d) Restrictions on who is qualified to tender should conform to extant Government policies and be judiciously chosen so as not to stifle competition amongst potential tenderers.
(e) The procedure for preparing and submitting the tenders; deadline for submission of tenders; date, time & place of public opening of tenders; requirement of earnest money and performance security; parameters for determining responsiveness of tenders; evaluating and ranking of tenders and criteria for full or partial acceptance of tender and conclusion of contract should be incorporated in the tender enquiry in clear terms.
(f) Tenders should be evaluated in terms of the criteria already incorporated in the tender document, based on which tenders have been received. Any new condition, which was not incorporated in the tender document, should not be brought into consideration while evaluating the tenders.
(g) Sufficient time should be allowed to the tenderers to prepare and submit their tenders.
(h) Suitable provisions should be kept in the tender document allowing the tenderers reasonable opportunity to question the tender conditions, tendering process, and/or rejection of its tender and the settlement of disputes, if any, emanating from the resultant contract.
(i) It should be made clear in the tender document that tenderers are not permitted to alter or modify their tenders after expiry of the deadline for receipt of tender till the date of validity of tenders and if they do so, their earnest money will be forfeited.
(j) Negotiations with the tenderers must be severely discouraged. However, in exceptional circumstances, where price negotiations are considered unavoidable, the same may be resorted to, but only with the lowest evaluated responsive tenderer, and that too with the approval of the competent authority, after duly recording the reasons for such action.
(k) The name of the successful tenderer to whom the supply contract is awarded should be appropriately notified by the purchase organization for the information of general public, including display at notice board, periodical bulletins, website etc.

Source: MANUAL ON POLICIES AND PROCEDURES FOR PURCHASE OF GOODS

Option Date Under 6th CPC w.r.t Date of Promotion/ Increment after 1/1/2006

(1) For option from Date of Increment :- The studies shows that employees defer 6CPC pay fixation to their respective increment month get no benefit out of the same.
This is because when an employee misses the revised increment during July 2006 on account of deferred fixation, he loses 3% of revised pay which is at any point of time more than the pre-revised increment the employee gets when he continues to get old pay after 1.1.2006. This is why the new Pay Fixation after 01.01.06 based on fitment table is lesser than the New Pay fixed on 1.1.2006.

(2) For option from Date of Promotion :- The studies shows that those who have been promoted or received their ACP after June-2006 can get benefits out of deferred pay fixation in the form of enhanced new pay as on Sept 2008. But you may have to incur loss in the pay arrears as you end up in receiving only the old pay till the date of New pay fixation.

The beneficial aspect of differing option to date of promotion is apparent particularly in case of Assistant Gr(I) of CSIR , for whom Pay scale has been revised w.e.f 15/09/2006, and their Basic is fixed below 6500 after fixation in revised scale of 6500-200-10500. The lower the fixation more the benefit.

Acceptance of 6th Pay Commission Recommendation By CSIR

CSIR vide OM No 5-1(3)/2008-PD Dt. 4/10/2008 implemented the 6th Pay commission recommendation in CSIR in line of DR.Vikram Kumar committee recommendation except
(1) Non Functional scale 0f 8000-275-13500 to SO/ PS from 3/10/2003 instead of 1/1/1996
(2) Grant of Central Secretariat Official Language Services scale to Rajbhasha staff wef 1/1/2006
(3) Withhold of implementation in case of Gr IV & Director (only interim payment of Rs 50000.00)

The 10% of the additional expenditure will be met out of LRF.

For Detail Please visit:- here

GoI OM related to Austerity in TA/DA Expenditure

With issue of higher TA/DA rates under 6th Pay commission, to observe austerity measures GoI has issued a OM with regard to following guidelines:-

1. No additional funds will be provided.
2. To undertake official tour only under absolute official requirement.
3. Utilizing cheapest fare system system of Airlines.
4. Use of corporate coupons.
5. Travel in lower class.
6. Use of incentive (e.g Mileage points) earned during tour for other official tours .
   
7. Use of other technological tool in lieu of travel

Payment of Bonus Act, 1965

The key provisions of the Act are:-

• According to the Act, the term 'employee' means "any person employed on a salary or wage not exceeding three thousand and five hundred rupees per mensem in any industry to do any skilled or unskilled manual, supervisory, managerial, administrative, technical or clerical work for hire or reward, whether the terms of employment be express or implied".
• An employee is entitled to be paid by his employer a bonus in an accounting year subjected to the condition that he/she has worked for not less than 30 working days of that year.
• An employer shall pay minimum bonus at the rate of 8.33% of the salary or wages earned by an employee in an year or one hundred rupees,whichever is higher. Here it is not required that the employer has any allocable surplus in the accounting year. However, where an employee has not completed fifteen years of age at the beginning of the accounting year, the minimum bonus payable is 8.33% or sixty rupees, whichever is higher.
• In any accounting year, if the allocable surplus exceeds the amount of minimum bonus payable to the employees, the employer shall in lieu of such minimum bonus, be bound to pay bonus (maximum bonus) equivalent to the amount which shall not exceed 20% of the salary or wages earned by employees.
• In computing the allocable surplus, the amount set on or the amount set off shall be taken into account. In other words:- (i) If, in any accounting year, the allocable surplus exceeds the amount of maximum bonus payable to the employees in the establishment, then the excess surplus is carried forward for being set on in the succeeding accounting year and so on up to and inclusive of the fourth accounting year for the purpose of payment of bonus; or (ii) If there is no or less allocable surplus in respect of that year, then such a shortfall is carried forward for being set off in the succeeding accounting year and so on up to and inclusive of the fourth accounting year.
• Where in any accounting year, any amount has been carried forward and set on or set off, then in calculating bonus for the succeeding accounting year, the amount of set on or set off carried forward from the earliest accounting year shall first be taken into account.
• All amounts payable to an employee by way of bonus under this Act shall be paid in cash by his employer within a month from the date on which the award become enforceable or the settlement comes into operation, in respect of any dispute regarding payment of bonus. But, in any other case, it shall be paid within a period of eight months from the close of the accounting year.

  However, the Government may order, upon receiving application made to it by the employer and for sufficient reasons, to extend the said period of eight months to such further period or periods as it thinks fit, such that that the total period so extended shall not, in any case, exceed two years.

• An employee shall be disqualified from receiving bonus if he/ she is dismissed from service for:- (i) fraud; or (ii) riotous or violent behavior while on the premises of the establishment; or (iii) theft, misappropriation or sabotage of any property of the establishment.

Wages of Workers under Labour contract

As per the 'Committee on Fair wages', there are three distinct levels of wages:-

(i) Living wage represents a standard of living which provides not merely for a bare physical subsistence, but for the maintenance of health and decency, a measure of frugal comfort including education for children, protection against ill-health, requirements of essential social needs and some insurance against the more important misfortunes;

(ii) Minimum wage ensures not merely the bare sustenance of life, but the preservation of the efficiency of the worker by providing some measure of education, medical requirements and amenities. Thus, the minimum wage prescribes the lower limit while the upper limit is set by the capacity of the industry to pay;

(iii) Fair wage is the wage which is above the minimum wage but below the living wage.

Role of Finance in National Lab

Role of Finance in National Lab.:- Service oriented, primarily in three fields

(1) Financial advice: - the Director and other Officer down the line are vested with power to accord financial sanction subject to budget allocation as laid down in delegation of financial power to the national lab of CSIR. Hence all financial sanction irrespective of amount is subject to observance of codal formalities need financial concurrence of the finance of national lab. This is called audit of sanction as per norms stipulated in the GFR & budget & accounts manual of the CSIR.

(2) Auditing: - all payments of the lab are subject to pre-audit with a view to see that rules and procedure are followed. This calls for good understanding of various govt. rules.

(3) Accounting & Budgeting: - Budget is prepared according to need and demand of a lab on approved projects authorized by the apex body of the lab for a particular year. Project oriented budget estimates and revised budget are formulated each year for approbation of CSIR and allocation of funds.

Accounting is done as per procedure laid down by CAG and various books of account are prepared accordingly.

Pre-auditing of Purchase Proposals

As per the purchase procedure 2002, para 19.0.0 "Audit of Purchase Proposals All indents shall be audited concurrently by the Sr. FAO/ FAO of the lab who is the member of the SPC. However, the finance member of the SPC shall ensure that all the financial parameters are fully complied with before according his concurrence."
While complying this instruction the officer of the Accounts Division should ensure that

1. Approval of competent authority/committee exists for the purchase.
2. In case of proprietary items, detailed technical justification wherever necessary for the choice of the proprietary make is furnished by the Indenter.
3. Tenders are evaluated in terms of the criteria already incorporated in the tender document, based on which tenders have been received.
4. It is against the Responsive Bid.
5. Sufficient funds are available.
6. Head of Account to which expenditure is to be debited is correctly indicated.
7. Lowest quotation is accepted or satisfactory reasons have been recorded in writing for not accepting the lowest quotation.
8. Proper procedure for making purchase is followed.
9. Approval of the competent authority is obtained for deviation from the procedure and also from the standards terms and conditions of the contract where applicable.
10. Provision is made in the contract for safeguarding government property required to be entrusted to the contractor.
11. Paying authority has been correctly stipulated in the purchase order.
12. Price preference/purchase preference wherever applicable as per the Government order is accorded.
13. All the necessary details concerning the offers, such as rates, make, delivery, quantity offered, together with any other information relevant to the decision of the tender are extracted and neatly entered in the comparative statement.

14. When a purchase order is proposed based on a single offer received against limited tender, adequacy of the coverage of field and reasonableness of the price are certified by the officer concerned in the Purchase / Indenter.
15. Whether the provisions of GFR particularly those relating to contracts, purchases and cannons of financial propriety have been followed.
16. If the purchase order proposed to be placed is on ex-works or F.O.R. basis whether suitable provision has been made in the purchase order for safe delivery of the items by the contractor to be purchaser’s site.
17. Whether suitable clause for proper packing is incorporated and whether name and address of the consignee, quantity, rate and other relevant commercial terms and conditions have been correctly reflected in the purchase order.
18. If previous purchase references are available, whether the rates stipulated in the purchase order are comparable with the previous purchase order.
19. In respect of imported stores, when foreign bids are received in different currencies, conversion of foreign currency into rupees is to be done taking into account the B.C. Selling rate of State Bank of India on the date of opening of price bid.

20. Wherever required and agreed to, whether liquidated damages clause has been incorporated in the purchase order.
21. Whether appropriate guarantee clause has been incorporated in the purchase order.
22. Whether documents to be presented for release of payment have been listed out properly.
23. In cases where free issue materials are to be provided by the Department to the Contractors, whether suitable provision for safeguarding the interests of the governments, manner and method for delivery of free issue materials, furnishing safeguards by the contractor, accounting of free issue materials, the maximum permitted percentage of loss/wastage have been incorporated in the purchase order.
24. In case of supply by Indian agents of imported items whether the Indian Agents are registered with DGS&D as authorized Indian Agent of Foreign Supplier under the Compulsory scheme of Ministry of Finance. Agents quoting on behalf of their principals should;

1. Produce their foreign principals’ Performa invoice indicating commission, payable to the Indian agent, nature of after-sales service to be rendered by the Indian agent.,

2. Clearly indicate, if their offer is on F.O.R basis, the break up of the prices viz. net f.o.b value, insurance, freight and clearing/handling charges at the Indian Port, profit margin and charges for dispatch up to destination.

3. Produce copy of the Agency Agreement with their foreign principals.

4. Give particulars regarding precise relationship with the foreign principals and their mutual interest in the business.

25. Whether state statutory liabilities are dispensed.

26. One time purchase for projects or capital equipments / spares should be properly justified depending on the actual requirement usage, rate of return etc. Further, the obsolescence factor should also be taken into account i.e. the equipment to be purchased should conform to the latest specifications and technology available in the market.

Report of the committee on implementation of Sixth Central Pay Commission Recommendations in CSIR

LINK HERE

Procedure for generation and utilization of ' Laboratory/ Headquarter Reserve Fund'

Please find here the CSIR OM No 1(11)/Acctt./2000-2001 Dated 4th September 2000 regarding Procedure for generation and utilization of ' Laboratory/ Headquarter Reserve Fund' as this has been quite in demand at the time of Audit & LRF expenditure . And this is also not available at CSIR website.

Vacancy at IIT Hyderabad, Last Date 31/10/2008

Vacancy at IIT Delhi, Last Date 20/10/2008

6th pay commission for Autonomous Bodies

GoI vide OM No 7/23/2008 E-III A Dated 30/09/2008, issued the guideline for extension of 6th Pay commission recommendation to Autonomous Bodies
link here

Income Tax rate AY 2008-09 and AY 2009-10

For detail Please see Link

TDS rate for FY 2008-09