LogMeIn IPO: LOGM IPO: Review Analysis & Details

After so many months, a new IPO or Initial Public Offering is expected to hit the stock markets. The company bringing out the IPO is a technology company called LogMeIn and is known to have the backing of the tech giant Intel. In this article, we will look at the review, analysis and fine details of the LogMeIn IPO.
Some basic details first:
What is the issue size of the LogMeIn IPO?
The LogMeIn IPO is planning a 100 million USD offering.

What is the company profile & business for the LogMeIn IPO
The company is in the business of providing on-demand remote-connectivity services to small business and consumers, and derives most of its revenue from subscriptions

How many shares will be offered for sale for the LogMeIn IPO?
Around 6.7 million equity shares are expected to be sold through the LogMeIn IPO.

What is the price band of the LogMeIn IPO
The shares of LogMeIn IPO are offered in the price range of USD 14 to USD 16 per share.

What is the trading symbol & exchange for the LogMeIn IPO
The company has selected LOGM as the stock ticker symbol and will be listing on NASDAQ stock exchange

What are the IPO dates for LogMeIn IPO
The IPO for LogMeIn is expected to be priced on July 1, while the trading will commence for the same on July 2 on the exchanges.

What are the financial results and position for LogMeIn IPO
Despite the recession, the company has managed to double the profits in 2008 taking it to around 52 million USD. Though this is not the consistence performance, since it was hit by repetitive losses.

Who are the underwriters of the LogMeIn IPO?
Barlays Capital & JP Morgan are the lead underwriters or Book Running Lead Managers BRLM for the issue. They will have the option to buy additional 1 million shares in case of over-allotments.

What is the current share holding pattern of LogMeIn ?
Backed by Intel which has around 5.4 percent of the shares, Prism Venture Partners has around 24% stake and and Polaris Venture Partners with a 21 percent shares

Marketing Advertising Commercial of Havell's Fan: Review of new TV ad

This may be a bit late as the summers are already over (atleast as per the general schedule) and mansoon are expected to arrive sooner or later. But then, there is no right or wrong time to write something about Marketing and Advertising. So in this article, let us see the way Havell's fan Advertisement is and what impact it has on the common audience like me.


Now, let me first describe the ad as it goes through. It was an Advertising Commercial for a fan - Havell's fan. The ad shows people sweating with loads and loads of sweat. So much, that while walking in the corridor, they flood the corridor with their sweat. Other fall when they try to walk through the river of sweat. Then an executive is shown in the office, sweating so heavily that his entire body is wet and it appears as if he is taking a shower. Then the worst part - the swaet is shown falling into a cup of tea.
The message is that the affected people can calm themselves and prevent the flood of sweat by using Havells' fans.

Now personally, my first impression after watching this Advertising Campaign was It is one of the worst Advertising Commercial to be aired. All it shows is sweat and that may not be liked by many (like me).

Before we get into the details, let's observe some scenarios of this Advertising Commercial :
Good:

I dont see anything good in this advertisement. My opinion is that it is one of the worst ads.

Bad:
- Seems like the advertising agency forgot the basics completely. An ad is suppose to connect and engage the audience, rather than show apathy towards it and switch the channel

- The ad is shown during the day and night- during prime time, when people watch TV, having food, sipping tea or coffee. Having such instances of sweat running all across like a river makes them feel yukkkk when they see it

- Imagine you sipping tea or eating food. Suddenly this ad shows sweat of a person falling into a cup of tea. What would you do - do you feel like continuing your cup of tea? Atleast I dont. That's what makes this ad campaign pathetic.

- Then comes people walking and slipping in the corridor, as they walk through a river of sweat. This ad leaves you with a feeling of dirt and filth. Would you like to see it again? I would immediately switch the channel.

- Overall, this ad fails to connect to the audience. It causes a feeling of dirt and filth and even worse if you are having food or eating something.

Improvements for the ad acampaign:
Basically, the entire theme should be changed. I find it difficult to accept such ad and keeping myself engaged to watching such ads repeatedly. Compare this to the ZooZoo ads of Vodafone, we like to watch them again and again. Would you like to see sweat falling into the tea again and again?

Some ideas can be bought by the Havell's ad and marketing team from other products like the ad campaigns of soaps like Liril, Cinthol, etc. Other ideas and themes can be borrowed from soft drink ad campaigns like Limca. Then, the simplest idea would be to borrow themes from same product segment - Bajaj Fans, usha fans, etc.

Overall, this advertisement campaign appears to be very bad to me (personal thoughts), and surely need a complete makeover. Probably, by the time the next summers arrive, Havells' will improve upon that

Assam Sixth Pay Commission Salary Hike Details & Pay Calculators

There comes the big bonanza for the government employees of Assam state. The organization has decided to implement the recommendations of the Sixth Pay Commission and hence the employees are expecting a big bonanza in terms of the salary hike. Seems like more and more state goverments are going ahead with the Salary hike. It was the Tamilnadu state, which went ahead with the implementation of the Sixth Pay Commission. Close on the heels of Tamilnadu, now the Assam Government is all set to provide the benefits of Sixth pay Commission Pay Fixation to the Assam State Government Employees.
It was a result of Assam government employees demands and increasing pressure, that the Chief Minister Tarun Gogoi had to forward the request to Union Ministry of Finance that Assam will implement the Sixth pay Commission Recommendations for its State Employees. That would mean all the salary hike for Assam Government employees will be similar to that of the central government employees following the implementation of the Sixth Pay Commission.
How much salary or pay hike will be received by PCMC after the implementation of Sixth Pay Commission?
That will be decided based upon the employee salary band and other details. As an indications, you may see the various online Pay calculators whose links are at the end of this article.

How much will it cost for Assam State?
It would cost around Rs 5000-6000 crores as the additional burden for the government. It will imply scarcity of funds and the meeting between Gogoi and Mukherjee and other ministers is learned to be for ascertaining the effects of this deficit that will be created.

What is the effective date from which the pay hike and arrears will be implemented?
It is not yet decided by the state government. Various states have implemented it from various dates and looking at the deficit, it may be difficult one as the arrear payment may be high enough if they are to be paid from an earlier date.

How will the arrears be paid to Assam employees?
No information about that.
The State Government has called for 100 per cent Central assistance to the Special Category State to meet the additional burden on this count.

We have the following online calculators available for calculating the pay arrears and the salary along with the pension money. Though the final amount would depend upon the actual things the state implements, the followiing calculators can provide good indications of your new salary and pension:
General Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Mahindra Holidays IPO: MHRIL IPO: Current Subscription Status

Following our article on Mahindra Holidays IPO: MHRIL IPO: Review, Analysis & Details . This data is sourced from NSE and is liable to be changed as the time proceeds. In this article, we provide details about the Current Subscription Status of Mahindra Holidays IPO or Latest Subscription Status of Mahindra Holidays IPO.
Total Issue Size: 9265275
Total Bids Received: 3758940
Total Bids Received at Cut-off Price: 180140
No. of times issue is subscribed: 0.41

Sr.No.	Category	No.of shares offered/reserved	No. of shares bid for	No. of times of total meant for the category
1	Qualified Institutional Buyers (QIBs)	5559165	3522620	0.6337
1(a)	Foreign Institutional Investors (FIIs)		1595000
1(b)	Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)		863620
1(c)	Mutual Funds		1064000
1(d)	Others		0
2	Non Institutional Investors	926527	13980	0.0151
2(a)	Corporates		13100
2(b)	Individuals (Other than RIIs)		880
2(c)	Others		0
3	Retail Individual Investors (RIIs)	2779582	185060	0.0666
3(a)	Cut Off		146500
3(b)	Price Bids		38560

Updated as on 24 Jun 2009 at 1700 hrs

Mahindra Holidays IPO: MHRIL IPO: Review, Analysis & Details

So is it the time for stock market revival and the economy again moving out of recession? Well, nobody knows, but the Mahindra Holidays and Resorts India Ltd (MHRIL), belonging to Mahindra Group and better known as Club mahindra IPO, has decided to take the shot in the primary market. It is coming out with its Initial Public Offer or IPO.
Let's see the fine details of the Mahindra Holidays IPO and see if this Mahindra Holidays IPO is worth applying for, should the investors bet their money on Mahindra Holidays IPO or whether the Mahindra Holidays IPO good enough or not.

What is the primary purpose for the Mahindra Holidays IPO?
The Mahindra Holidays IPO has been launched to raise money for funding its existing business. A part of the capital raised will also be used for expansion of projects across the country.

Is this the right time for Mahindra Holidays IPO, given the fact that the economy has been seeing lot of problems?
That's the million dollar question. When things go bad, as they have been in the last years, the first thing that is hit is the leisure and luxury. When people suffer for basic necesities, the luxury things are kept aside. Hence, Holidaying and leisure business takes a bit toll. However, Mahindra Holidays claim that they are not hit by the recession. They claim that the no. of members for them have increased significantly.
Though they have not given any details about the membership status, but the fact is that they remain one of the major holiday business companies of India. India has been a country which was shielded from recession, so there is a lot of weightage behind this claim.
Moreover, now with a stable government and economy showing signs of revival, it appears that Mahindra Holidays IPO is well set to come out with the IPO.

How many shares will be offered through the Mahindra Holidays IPO?
A total of 92,65,275 shares are being offered through the Mahindra Holidays IPO .

What is the price band for the Mahindra Holidays IPO?
The price band is between Rs. 275 to 325 per equity share

What are the date for the Mahindra Holidays IPO?
The Mahindra Holidays IPO will open on date June 23 and closes on June 26, 2009.

What are the plus points of Mahindra Holidays IPO?
The company is debt free.
It has a presence across all over India with all major tourist destinations covered.
The plans for expansion are also there. They are coming up with the "spa" facilities and adventure tourism.
They are also conceptualising the "budget holidays" at lower rates.
The primary target customers for this company have been higher income group people, who dont mind spending that extra for leisure.

The Mahindra Holiday Group has a total of 27 resorts out of which 11 are fully owned by the Group, 12 are on a long lease

PCMC Sixth Pay Commission Salary Hike: Pimpri-Chinchwad Municipal Corporation

There comes the big bonanza for the government employees of PCMC or Pimpri-Chinchwad Municipal Corporation. The organization has decided to implement the recommendations of the Sixth Pay Commission and hence the employees are expecting a big bonanza in terms of the salary hike. Seems like more and more goverment bodies and organizations are going ahead with the Salary hike. It was the Tamilnadu state, which went ahead with the implementation of the Sixth Pay Commission. Close on the heels of Tamilnadu, now the Madhya Pradesh MP Government is all set to provide the benefits of Sixth pay Commission Pay Fixation to the Madhya Pradesh MP State Government Employees.

How much salary or pay hike will be received by PCMC after the implementation of Sixth Pay Commission?
it is expected that Pimpri-Chinchwad Municipal Corporation PCMC employees on an average will get around 21 percent salary hike.

How much will it cost for PCMC?
It would cost around 29 Crores per year. Hope that this salary hike reduces the alleged corruption.

What is the effective date from which the pay hike and arrears will be implemented?
It is reported that the pay hike will be effective from January 1, 2006 onwards and hence PCMC employees can expect a lot of money in terms of payment of arrears.

How will the arrears be paid to Pimpri-Chinchwad Municipal Corporation PCMC employees?
The arrears will be paid in 5 installments over next 5 years.

We have the following online calculators available for calculating the pay arrears and the salary along with the pension money. Though the final amount would depend upon the actual things the state implements, the followiing calculators can provide good indications of your new salary and pension:
General Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Marketing Advertising Commercial of Maruti Suzuki: Review of new TV ad

So it was yesterday when I saw this new advertising campaign or Marketing Campaign of Maruti Suzuki. What followed was a bit of discussion about the Advertising Commercial among us.

Now, let me first describe the ad as it went through. It was an Advertising Commercial for the most successful car brand in India - Maruti Suzuki. It shows a typical large gathering of a family most probably for a family function. The main characters are a mom, an infant kid, around 4-5 months old and some other relatives. The Advertising Commercial goes as follows: The mom is busy with some work, and the infant kid is somewhere away from her, so that she can see her from a distance, but since she is busy with the work, she is unable to attend to her. The Advertising Commercial starts with showing the mom busy with work and the baby starts crying. So, the mom signals another relative (a lady) to attend the kid. Unfortunately, the kid continues to cry. The lady then passes on the kid to the kid's father (from the gestures between the kid's mom and the male person in the ad, it is apparent that he is the kid's father), but no success. The cycle continues and the kid is passed on from one person or relative to the other (uncle, aunty, grandfather, grandma, etc.) They all try all methods including scolding, singing, etc., but the kid doesnt get quite. At last the kid reaches the mom and there he is happily playing again.
The message for the Advertising Commercial comes up on screen: Always take your Maruti Car to the Maruti Authorized Service Network.

The ad message is clear- Maruti wants all its customers to utilize the services of its own dealer and service networks, instead of the customers going to other brand services or going to a road side un-branded garage.

Now personally, my first impression after watching this Advertising Campaign was It is a Good Advertising Commercial. However, immediately came a reply from other person - kya bakwas commercial hai?.

Before we get into the details, let's observe some good and bad points of this Advertising Commercial :
Good:
- The theme chosen is realistic - Indian Family, Function, everyone is busy, everyone trying a hand to pacify the kid. So the ad does generate a lot of interest
- The timeline of ad is perfect - Nobody has been focussed for a longer time. It straightaway gets to the main point - to pacify the kid
- There is a variety of methods included - someone dancing, singing, making faces, toys and even scolding - it all looks perfect
- Finally, when the kid reaches the mom, he is happy - everyone wonders what's happening, and there comes the Advertising Commercial Punchline conveying the message.

Before we get into the bad part, Just wanted to mention the reaction of others who saw the ad with me. We have a 5 months old baby at my home, and many family members keep him busy and happy, so it was a real life scenario for us. Moreover, mom & dad leave the kid at home in others care, if they have to go out, and the kid stays happily - something contrary to what was shown in the Advertising Commercial. What other members differed were the following points (& the inference that can be derived):

- Basically, it's a problem of the kid that he is not happy with other family members. So the kid is at fault - basically meaning that the car is not easy to get repaired if there are any problems, hence its a problem with the car itself.
- None of the other family members were able to control the kid - It is true that all family members cannot repair (or even drive a car), but what has that to do with going to the authorized service network?
- Maruti is known for having the biggest network of service stations across the country for car repair and services. But shouldn't it be easy to fix the problems of the car by not any Tom, Dick & Harry from a road side garage, but atleast by some known, reliable garages (like the relatives)

Overall, this advertisement campaign appears to be good to me (personal thoughts), but as pointed above, it may be taken in a completely different way by someone else. Remember, our is a country that gives a very high regard to family relations - so anything can be interpreted in any way.

Madhya Pradesh MP Sixth Pay Commission Salary Hike

It was the Tamilnadu state, which went ahead with the implementation of the Sixth Pay Commission. Close on the heels of Tamilnadu, now the Madhya Pradesh MP Government is all set to provide the benefits of Sixth pay Commission Pay Fixation to the Madhya Pradesh MP State Government Employees. We had earlier reported about the Madhya Pradesh MP Sixth Pay Commission Salary Hike in this article. Now there are some more news about the implementations.

It is learnt the the Madhya Pradesh MP state cabinate has accepted the recommendations of the State Pay Commission.
How many Madhya Pradesh MP state government employees will benefit from the pay hike or salary hike of the State Pay Commission recommendations?
It is learnt that around 6 lakhs government employees will get the benefits of the implementation of the Sixth pay Commission in MP.

The implementations for pay hike will be effective from January 1, 2006 onwards, so the state government employees can look forward to getting really big fat pay packages and arrears payment in MP.

As per Hindu, Accordingly, the State Pay Commission which is headed by Mr. A K Agrawal would fix the emoluments including pay structure, allowance and fringe benefits for the employees of the local bodies and the statutory bodies constituted by the state government through its resolution of September 10, 2008. The Commission would also consider the need for continuing the separate pay allowance and service conditions for the employees drawing salaries from Contingency Fund.

What will this commission do?
As per the reports, this pay commission will discrepancies in pay scales of different cadres in the light of recommendations of the Sixth Pay panel.

Is there any room for pensioners in MP to get benefits?
Yes. The MP state panel is also expected to make recommendation for re-fixation of pension of pensioners of the State following the guidelines from the Sixth Pay Commission. So the pensioners would also benefit.

When can the report from the Pay panel be expected?
The panel is expected to submit the report by June 30, 2009 and follwoing that we can expect some implementations.

How much salary hike can an employee expect after the Sixth Pay Commission implementation in MP?
We have the following online calculators available for calculating the pay arrears and the salary along with the pension money. Though the final amount would depend upon the actual things the state implements, the followiing calculators can provide good indications of your new salary and pension:
Calculator for Sixth Pay Commission Salary Hike & Arrears Calculations

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Pension Calculator for the Sixth Pay Commission

On general demand, here is the Pension Calculator for the Sixth pay Commission
It is a simple Excel based calculator and it displays your new salary or new pay as soon as you enter the details.
Although on slow connection, it may take some time for the calculator to load the entire sheet, so you are advised to be a bit patient. Every care has been taken in preparing the calculator ,but even then some error may be there in some cases, so please be considereate and leave some room for E&OE.
Pension Calculator for the Sixth pay Commission

Here are other Calculator for the Sixth pay Commission for Pay & Arrears Calculations

Sixth Pay Commission - Pay Fixation / Arrears Calculator

Some more calculators are available on the net for calculations of Pay & arrears for the Sixth Pay Commission. For the convenience of the users and government employees, we are offering one of them on this site. It is a simple Excel based calculator and it displays your new salary or new pay as soon as you enter the details. Although on slow connection, it may take some time for the calculaotr to load the entire sheet, so you are advised to be a bit patient.
An online pay calculator has become a mandaotry thing especially after the Tamilnadu govt announce implementation of Sixth Pay Commission. A calculator as per rules and fitment chart of sixth pay commission (Tamilnadu) is given here under for your use and for your review. Every care has been taken in preparing the calculator ,but even then some error may be there in some cases, so please be considereate and leave some room for E&OE.
The Following calculator will fix your pay on the basis of your old scale and Basic Pay in old scale plus special pay if any as on 01.01.2006.The calculator will show your new pay band plus new pay in pay band and grade pay.Further it will calculate the arrears from 1/2006 to 12/2006 (notional ) and 1/2007 to 5/2009 actual .and there after break up arrears has also been given.A due drawn statement from 01.01.2006 to 31.05.2009 has also been given.Now I will tell you how to use this calculator.Fill three yellow cell in the table given below .all are self explanatory but if any doubt then read the instruction given below.
Instruction 1:A code list against your old scale has been given in yellow column.so select & fill your pay scale code (1-29)





Instruction 2:Fill how many increment you have earned in your present pay scale.suppose your pay scale is 4000-100-6000 and your basic pay as on 01.01.2006 is 4500 then fill "5"(without quotes)

Instruction 3:fill your old increment month (1-12)

Instruction 4: fill your special pay amount (if any ) as on 01.01.2006

Enter Your Three option one by one and after each option wait for updating the data.

Limitation:
Error:Pay scale code 15-24 have error show results of less than one code means if you select 15 than result of 14 shown:reported on 07.06.2009: corrected on 07.06.2009 version is now tn2.1
1.This calculator is for employees who have joined before 01.01.2006.
2.This calculator is not for contract or fixed pay employee.
3. This calculator will show wrong calculation if you have been promoted or ACP has been granted to you in between 1/06 to 5/09

Tamilnadu TN Sixth Pay Commission Pay ArrearsCalculator

A calculator as per rules and fitment chart of sixth pay commission (Tamilnadu) is given here under for your use and for your review.Every care has been taken in preparing the calculator ,but even then some error may be there in some cases. Please check with your concerned officer or superior regarding your exact pay figures. The Following calculator will fix your pay on the basis of your old scale and Basic Pay in old scale plus special pay if any as on 01.01.2006.The calculator will show your new pay band plus new pay in pay band and grade pay.Further it will calculate the arrears from 1/2006 to 12/2006 (notional ) and 1/2007 to 5/2009 actual .and there after break up arrears has also been given.A due drawn statement from 01.01.2006 to 31.05.2009 has also been given.Now I will tell you how to use this calculator.Fill three yellow cell in the table given below .all are self explanatory but if any doubt then read the instruction given below.


Instruction 1:A code list against your old scale has been given in yellow column.so select & fill your pay scale code (1-29)





Instruction 2:Fill how many increment you have earned in your present pay scale.suppose your pay scale is 4000-100-6000 and your basic pay as on 01.01.2006 is 4500 then fill "5"(without quotes)



Instruction 3:fill your old increment month (1-12)



Instruction 4: fill your special pay amount (if any ) as on 01.01.2006



Enter Your Three option one by one and after each option wait for updating the data.

Limitation:

Error:Pay scale code 15-24 have error show results of less than one code means if you select 15 than result of 14 shown:reported on 07.06.2009: corrected on 07.06.2009 version is now tn2.1

1.This calculator is for employees who have joined before 01.01.2006.

2.This calculator is not for contract or fixed pay employee.

3. This calculator will show wrong calculation if you have been promoted or ACP has been granted to you in between 1/06 to 5/09.

Indian Railways Sixth Pay Commission Salary hike: Railways Anomalies Committee

One of the largest employers of the world, Indian Railways is to implement the recommendations of the Sixth Pay Commission. It is is expected that the Rail budget to be presented by Mamta Banerjee on July 1 will have the fine details of the Payments of arrears & Salary hike for the Sixth Pay Commission Recommendations. Rumors are high that It is almosst certain that Railways will reward its employees with the benefits of Sixth pay commission implementation as the Karunanidhi led DMK has done for the Tamilnadu state.
The latest news and update from the Sixth Pay Commission is from the MINISTRY OF RAILWAYS (Railways Board) regarding the Setting up of Anomalies Committee to settle the anomalies arising out of the implementation of the Sixth Pay Commission's recommendations for the railways employees. Below, we present the text as it appears on the notification. Though utmost care has been taken to replicate the text as it is, but E&OE.

GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS
(RAILWAY BOARD)

Subject: Setting up of Anomalies Committee to settle the anomalies arising out of the implementation of the Sixth Pay Commission's recommendations.

I am directed to say that in terms of an agreement with the Staff Side of the National Council, it has been decided to set up the Departmental Anomalies Committee for Railways consisting of the representatives of the Official Side and the Staff Side to settle the anomalies arising out of the 6th Central Pay Commission's recommendations, subject to the following conditions, namely :-

1. Definition of Anomaly

Anomaly will include the following type of cases :-
(a) Where the Official Side and the Staff Side are of the opinion that any recommendation is in contravention of the principle or the policy enunciated by the Sixth Central Pay Commission itself without the Commission assigning any reason; and

(b) Where the maximum of the revised scale is less than the amount at which one is entitled to be fixed except in those cases where the same is as a result of modified fixation formula adopted by the Government; and

(c) Where the amount of revised allowance is less than the existing rate.

2. Composition
The Departmental Anomaly Committee for Railways will consist of the representatives of the Official Side and three members each from the AIRF and NFIR who are members of the Departmental Council. The composition of the Committee shall be as under :-


3. The National Anomalies Committee, appointed under the Department of Personnel & Training's O.M. No11/2/2008-JCA dated 04.02.09 wilt deal with the anomalies common to two or more Departments and in respect of common categories of employees. The Departmental Anomalies Committee for Railways will deal with Anomalies pertaining to Railways only and having no repercussions on the employees of another Ministry/Department. The items already taken up by the 'Fast Track Committee' will not be considered by the Anomalies Committee.

4. The Anomalies Committee shall receive anomalies through Secretary, Staff Side of respective Council upto six months from the date of its constitution and it will finally dispose of all the anomalies within a period of one year from the date of its constitution.
* Any recommendations of the Anomaly Committee to resolve the anomaly shall be subject to the approval of the Government. Cases where there is a dispute about the definition of "anomaly" and those where there is a disagreement between the Staff Side and the Official Side on the Anomaly will be referred to an "Arbitrator" to be appointed out of a panel of names proposed by the two sides. However, this arbitration will not be a part of the JCM Scheme

Maharashtra college Teachers Pay hike for Sixth pay Commission

We had initially reported about the UGC Pay Review: Teachers Professors get 70% Pay Hike: Sixth Pay Commision. Now, There comes the bonanza for the Maharashtra college Teachers and University level teachers, professors, lecturers and other teaching faculty. The Maharashtra Government recently declared that the The pay scales for the Maharashtra University & College Teachers will be implemented to within a month.

When will the Maharashtra college Teachers Pay hike as per the Sixth pay Commission be implemented?
It is reported that the Maharashtra college Teachers Pay hike as per the Sixth pay Commission will be implemented within a month - i.e. mid July.

General Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

What is the arrear amount to be paid to Maharashtra college Teachers Pay hike as per the Sixth pay Commission?
If implemented, the arrears amount for the last three years comes to a total of around 1500 Crore Rupees.

For how many years will the arrears be paid?
It is expected that arrears will be paid for the last 3 years for the Maharashtra college Teachers Pay hike as per the Sixth pay Commission

Sixth Pay Commission: Dearness Allowance Relief to Pensioners (Central Government like Indian Railways)

The latest news and update from the Sixth Pay Commission is from the Indian Railways and is regarding the Grant of dearness relief to Central Government pensioners. Below, we present the text as it appears on the notification from Ministry of Personnel, Public Grievances and Pensions, Department of Pension & Pensioners Welfare. Though utmost care has been taken to replicate the text as it is, but please note that there can be E&OE.
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Pension & Pensioners Welfare
3rd Floor, Lok Nayak Bhawan,
Khan Market, New Delhi
27th March, 2009
OFFICE MEMORANDUM

Subject : Grant of dearness relief to Central Government pensioners/family pensioners Revised rate effective from 1-1-2009.
The undersigned is directed to refer to this Department's OM No. 42/2/2008 P&PW (G) dated 12th September, 2008 and 25-9-08 sanctioning the instalment of Dearness Relief (DR) admissible from 1-7-2008 and to say that the President is pleased to decide that DR shall be paid to the Central Government Pensioners/Family Pensioners to compensate them for the rise in cost of living at the rate of 22% w.e.f. 1-1-2009 in supersession of the rate mentioned in the OM dated 12-9-2008 and 25-9-08 referred to above.

2. These orders apply to (i) All Civilian Central Government Pensioners/Family Pensioners (ii) The Aimed Forces Pensioners, Civilian Pensioners paid out of the Defence Service Estimates, (iii) All India Service Pensioners (iv) Railway Pensioners and (v) The Burma Civilian Pensioners/family pensioners and pensioners/families of displaced Government pensioners from Pakistan, who are Indian nationals but receiving pension on behalf of Government of Pakistan, who are in receipt of ad-hoc ex-gratia allowance of Rs.3500/- p.m. in terms of this Department's OM No. 23/1/97-P&PW (B) dated 23-2-1998 read with this Department's OM No. 23/3/2008 P&PW (B) dated 15-9-08.

3. Central Government Employees who had drawn lumpsum amount on absorption in a PSU/Autonomous body and have become eligible to restoration of commuted portion of pension as well as revision of the restored amount in terms of this Department's OM No. 4/59/97-P&PW (D) dated 14-7-1998 will also be entitled to the payment of DR @ 22% w.e.f. 1-1-2009 on full pension i.e. the revised pension which the absorbed employee would have received on the date of restoration had he not drawn lumpsum payment on absorption and Dearness Pension subject to fulfillment of the conditions laid down in para 5 of the OM dated 14-7-1998, In this connection, instructions contained in this Department's OM No, 4/29/99-P&PW (D) dated 12-7-2000 refers.

4. The surviving CPF beneficiaries who had retired from service between the period 18-11-1960 to 31-12-1985 and are in receipt of Ex-gratia @ Rs,600/- p.m. with effect from 01-11-1997 under this Department's O.M. No. 45/52/97-P&PW (E) dated 16-12-1997 are entitled to Dearness Relief @ 54% w.e.f. 1-7-2008. and @ 64% w.e.f. 1 1.09

5. The following categories of CPF beneficiaries who are in receipt of Ex-gratia payment in terms of this department's OM No. 45/52/97-P&PW (E) dated 16-12-1997 are entitled to Dearness Relief® 46% w.e.f. 1-7-2008. and @56% w.e.f. 1.1.09:-
(i) The widows and dependent children of the deceased CPF beneficiary who had retired from service prior to 1-1-1986 or who had died while in service prior to 1-1-1986 and are in receipt of Ex-gratia payment of Rs.605/- p.m.

(ii) Central government Employees who had retired on CPF benefits before 8-11-1960 and are in receipt of Ex-gratia payment of Rs.654/-, Rs.659/- , Rs.703/- and Rs.965/-.

6. Payment of DR involving a fraction of a rupee shall be rounded off to the next higher rupee.

7. Other provisions governing grant of DR in respect of employed family pensioners and re-employed Central Government Pensioners will be regulated in accordance with the provisions contained in mis Department's OM No. 45/73^97- P&PW (G) dated 2-7-1999. The provisions relating to regulation of DR where •pensioner is in receipt of more than one pension will remain unchanged.

8. In the case of retired Supreme Court and High Court Judges necessary orders will be issued by the Department of Justice separately.

9. It will be the responsibility of the pension disbursing authority, including the nationalized banks etc. to calculate the quantum of DR payable in each individual case.

10. The offices of Accountant General and Authorised Public Sector Banks are requested to arrange payment of relief to pensioner etc. on the basis of above instructions without waiting for any further instructions from the Comptroller and Auditor General of India and the Reserve Bank of India in view of letter No. 528-TA, II/34-80-U dated 23-4-1981 of the Comptroller and Auditor General of India addressed to all Accountant <3enerals and Reserve bank of India Circular No. GANB No. 2958/GA-64 (ii) (CGL)/81 dated the 21* May, 1981 addressed to State Bank of India and its subsidiaries and all Nationalised Banks.

11. In their application to the pensioners/family pensioners belonging to Indian Audit and Accounts Department these orders issue in consultation with the C&AG.

12. This issues with the concurrence of Ministry of Finance, Department of Expenditure vide their UO No.l 19/EV/2009 dated 27.3.2009

Latest: Government approves 6% hike in DA: Dearness Allowance now at 51%: Sixth Pay Commission Recommendation

ICICI Bank Rate Cut: Cuts Home loan, retail loan and other loans rate by 0.50%

There comes the big news from ICICI Bank, the second largest bank of India and the largest private bank of India. It has decided to cut both the corporate as well as retail loan rate by a whooping 50 bps or 0.5%. This can come as a big booster package for the ailing housing and mortgage sector, because ICICI Bank is one of the front runners in the loan market, especially the House Loans or Home Loans.


What will be the effect on the EMI after ICICI Bank Rate Cut?
Since December, this is the 3rd rate cut by ICICI bank and the overall rate cut since then has now come to a total of 1.5% or 50 basis points. A rate cut obviously means that there will be less of EMI payment. So for an example, if you have taken a loan of say 50 Lakh Rs. for a period of 20 years, your monthly EMI amount would reduce by around 5150 Rs.

Is the ICICI Bank Rate Cut for new customers only or is it for old customers as well?
The ICICI Bank Rate Cut is applicable both for the new as well as old customers who have taken a floating rate loan from ICICI Bank. So both types of customers will benefit.

Who is going to benefit more from ICICI Bank Rate Cut?
If you consider the rate cuts which started in December 2008, it seems that the new customers will benefit more. The reason: the cumulative rate cut for new customers since December has been a total of 2.25%. However, for old customers it has been 1.5% only. So new customers can now look forward to taking a loan and benefit more.

Is there any other bank which offers lower rate of interest even after ICICI Bank Rate Cut?
SBI or State Bank of India is presently offering the home loan at 8%, which is lower than the ICICI Bank home loan rate even after the Rate Cut. however, this SBI loan rate is only for the first year - it may increase in the coming years. Though the rumors going around are that SBI will not sit silent. It is also expected to reduce the home loan rate by arouond 25 basis points before this month end. Then there are other banks also from whom some similar action can be expected.

As per TOI, Normally, it has been seen that SBI’s normal rate at which it offers loan to the customers is 25 to 50 basis points higher than the rates offered by HDFC and ICICI Bank. At present also, while ICICI Bank nad HDFC offers home loan of Rs 30 lakh at 9.25%, SBI charges 10.25%. Therefore, in the long term, the benefit of getting home loan at 8% could be off-setted. However, in future, in SBI also lowers the rate to the range of ICICI bank and HDFC Ltd, SBI’s offer of 8% is the best one. The present rate cut by ICICI Bank will help revive the real estate markets

Indian Railways Sixth Pay Commission: Persons re-employed in Railway Service after retirement

The latest news and update from the Sixth Pay Commission is from the Indian Railways and is regarding the persons re-employed in Railway Service after retirement. Below, we present the text as it appears on the notification. Though utmost care has been taken to replicate the text as it is, but E&OE.

The General Managers/ CAO(R),
All Indian Railways & PUs
(As per standard mailing list)
Dated the 30-04-2009.

Sub: Applicability of RS(RP) Rules, 2008 to persons re-employed in Railway Service after retirement and whose pay is debitable to Railway Estimates.

Persons re-employed in Railway service after retirement have been excluded from the purview of the Railway Services (Revised Pay) Rules, 2008 vide Rule 2 (2) (vii) thereof. The question of extension of the benefit of the revised pay rules to these persons and the procedure to be followed for fixing their pay in the revised scales has been considered by the Government. The President is pleased to decide that, in partial, modtfication of the Rule 2(2) (vii) of the Railway Services (Revised Pay) Rules, 2008, the provisions of these rules shall apply to such persons also who were in re-employment on Ist January, 2006, subject to the orders hereinafter contained. This decision will cover all Railway servants re-employed on Railways other than those employed on contract whether they have retired with or without a pension and /or gratuity or any other retirement benefits, e.g. contributory fund etc. from a civil post or from the Armed Forces.

2(I) The initial pay of a re-employed Railway servant who elects or is deemed to have elected to be governed by the revised pay scale from the 1st day of January 2006 shall be fixed in the following manner namely:-
According to the provisions of Rule 7 of the RS(RP) Rules, 2008, if he is -
(i) a Railway servant who retired without receiving a pension, gratuity or any other retirement benefit and
(ii) a retired Railway servant who received pension or any other retirement benefits but which were ignored while fixing pay on te-employment.

2(H) The initial pay of a re-employed Railway servant who retired with a pension or any other retirement benefit and whose pay on re-employment was fixed with reference to thes&benefits or ignoring a part thereof, and who elects or is deemed to have elected to be governed by the revised scales from the 1st day of January, 2006 shall be fixed in accordance with the provisions contained in Rule 7 of the Railway Services (Revised Pay) Rules, 2008. In addition to the pay so fixed, the re-employed Railway servant would continue to draw the retirement benefits he was permitted to draw in the prerevised scales, as modified based on the recommendations of the Sixth Central Pay Commission, orders in respect of which have been issued separately by the Department of Pension & Pensioners Welfare. However, an amount equivalent to the revised pension (excluding ignorable portion of pension, wherever permissible), effective from 1 1 2006 or after, shall be deducted from his pay in accordance with the general policy of the Government on fixation of pay of re-employed pensioners. Annual increments^j/ill be allowed in the manner laid down in Rule 10 of Railway Services (Revised Pay) Rules 2008, on the entire amount of pay as if pension had not been deducted.

3. Reemployed persons who become eligible to elect revised scale in accordance with these orders should exercise their option in the manner laid down in Rule 6 of the Railway Service (Revised Pay) Rules, 2008 within three months of the date of issue of these orders or in cases where the existing scale of pay of the posts held by them are revised subsequent to the issue of these orders* within three months of the date of orders/ notification revising the scales.

4. Where a re-employed Railway servant elects to draw his pay in the existing scale and is brought over to revised scale from a date later man the 1st day of January, 2006, his pay from the later date in the revised scale shall be fixed in accordance with the provisions of Rule 11 of the Railway Services (Revised Pay) Rules, 2008.

5. Further, the existing ceiling of Rs.26000/- for drawal of pay plus gross pension on reemployment is enhanced to Rs.80000/, the maximum salary payable to the ex-officio Secretary to the Government of India under Railway Services (Revised Pay) Rules, 2008.

6. The President is also pleased to enhance the ignorable part of pension from Rs.l500/~ to Rs.4000/- (Rupees, four thousand) in the case of Commissioned Service officers and civil officers holding Group 'A* posts who retire before attaining the age of 55 years. The existing limits of civil and military pensions to be ignored in fixing the pay of re-employed pensioners will, therefore,, cease to be applicable to cases of such pensioners as are re-employed on or after 1.1,2006. In the cases of persons who are already on re-employment, the pay may be fixed on the basis of these orders with effect from 1.1.2006, provided they opt to come under these orders. If they so opt, their terms would be determined afresh as if they have been re-employed for the first time from 1.1.2006. The option should be exercised in writing within three months from the date of issue of these orders. The option once exercised is final.

7 These orders shall take effect from 1.1.2006.

8. This issues with the concurrence of Finance Directorate of the Ministry of Railways

Revision of pension of pre-2006 pensioners: Sixth Pay Commission

The latest news and update from the Sixth Pay Commission is from the Revision of pension of pre-2006 pensioners. Below, we present the text as it appears on the Office Memorandum Ministry of Personnel, Public Grievances and Pensions Department of Personnel & Training. Though utmost care has been taken to replicate the text as it is, but E&OE.

Dated the 21st May, 2009.
OFFICE MEMORANDUM
Sub: Implementation of Government's decision on the recommendations of the Sixth Central Pay Commission - Revision of pension of pre-2006 pensioners/family pensioners etc

The undersigned is directed say that in this Department's OM of even number dated 14.10.2008, all the pension disbursing public sector banks were requested to revise and disburse the enhanced pension (with deamess relief) and arrears within one month from the date of issue of that O.M. It was mentioned that a suitable entry regarding the revised pension would be recorded by the pension Disbursing Authorities in both halves of the Pension Payment Order and an intimation regarding disbursement of revised pension would be sent by the pension disbursing authorities to the Office of CPAO and Accounts Officer which had issued the PPO in the revised form given at Annexure-tll of the said OM so that they could verify the pension so revised and update the Pension Payment Order Register, etc. In Annexure-lll, it was mentioned that the verification/final revision of pension/family pension in respect of pensioners would be done by the Pay and Account Officer concerned.

2. Accordingly, in cases where the information in Annexure-lll has been received by the Pay and Accounts Officer from the Pension Disbursing Banks etc., he should verify the same and issue a revised authority for payment of pension. In case there is any discrepancy in the revision of pension by the Bank, the bank should be informed by the Pay and Accounts Officer immediately for making necessary adjustment. In cases where the information in Annexure-tll has not been received by the Pay and Accounts Officer from the Bank, the Pay and Accounts Officer should issue revised authority for payment of pension based on the PPO/available records and send it to Bank for making the payment of revised pension accordingly.

3. In the aforesaid OM dated 14.10.2008, it was provided that in case any information regarding date of birth, scale of pay or the qualifying service, etc. was not available with the bank, the bank may obtain the requisite information from the concerned Pay and Accounts Officer/CPAO. It would be the responsibility of the concerned Pay and Accounts Officer/CPAO to provide the information from the available records within two weeks r.f the receipt of request from the bank.

4. The matter regarding the methodology to be adopted for payment of additions' pension to old pensioners/family pensioners in cases where the date of birth is not available in the PPO as well as in the office records of CPAO/Pay and Accounts Office had been under consideration in consultation with the Controller General of Accounts and the Ministry of Finance. It has now been decided that in case the exact date of birth is not available either in the PPO or in the office records but an indication regarding the age of pensioner/family pensioner is available in the office record, the additional pension/family pension shall be paid from the 1st January of the year following the year in which the pensioner/family pensioner has completed the age of 80 years, 85 years, etc. based on PPO/office records. For example, if the records show that the pensioner/family pensioner has already completed the age of 80 years/85 years as on 1st January, 2008, he shall be allowed additional pension/family pension from 1" January, 2008.

5. In case neither the exact date of birth nor the age is available either in the PPO or in the office records, the Pension Disbursing Authority/Bank will send an intimation to the pensioner/family pensioner about the non-availabtfity of the information regarding date of birth/age and request him to submit four copies of any of the following documents, duly attested by a Gazetted offlcer/MLA to the Pension Disbursing Authority:
(i) Pan Card
(ii) Matriculation certificate (containing the information regarding date of birth)
(iii) Passport
(iv) CGHS Card
(v) Driving licence (if it contains date of birth)

If the pensioner/family pensioner submits a document which contains the information regarding exact date of birth, the additional pension/ family pension will be payable from the 1st day of the month in which his date of birth falls, in the manner indicated in this Department's O.M. of even number dated 3.10.2008. tn case the exact date of birth is not available on the document submitted by the pensioner/family pensioner but an indication regarding the age of pensioner/family pensioner is available therein, the additional pension/family pension shall be paid from the 1 st January of the year following the year in which the pensioner/family pensioner has completed the age of 80 years, 65 years, etc. based on the document submitted by the pensioner/family pensioner. For example, if the copy of the Election ID Card submitted by the pensioner/family pensioner indicates that his/her age on 1st January, 2007 is 80 years, he/she shall be allowed additional pension/family pension from 1" January, 2007.

6. The Pension Disbursing Authority/Bank will make payment of additional pension/family pension in the above manner, on provisional basis, up to a period of three months from the month in which the proof of age/date of birth is submitted by the pensioner/family pensioner, tn such cases, the Pension Disbursing Authority/Bank will immediately send one copy each of the document submitted by the pensioner/family pensioner to the Pay and Account Officer/CPAO for formal authorisation of the additional pension/family pension. The Pension Disbursing Authority/Bank will make payment of additional pension/family pension beyond a period of three months only on receipt of such an authorisation from the Pay and Account Officer.

7. In case the pensioner/family pensioner is unable to submit any of the documents mentioned in para 5 above but claims additional pension based on some other documentary evidence, such cases will be submitted to the administrative Ministry. If the administrative Ministry is satisfied about the claim of the pensioner/family pensioner, it will authorise additional pension/family pension accordingly. The decision of the
Administrative Ministry in this regard will be final.

8. It is impressed upon all the Ministries/Departments of the Government of India and the pension disbursing authorities to keep in view the above decisions while disposing of the cases of payment of additional pension/family pension. CGA/CPAO are requested to advise all Pension disbursing/sanctioning authorities to take suitable action in accordancewith the above instructions/guidelines. Similarty instructions may be issued by Ministry of Defence and Ministry of Railways to their concerned Accounts Department accordingly.

9. This issues with the concurrence of Ministry of Finance (Department of Expenditure) vide their I.C. U.O. No. 1857EV/2009 dated 4.5.2009

Indian Railway Employees: Sixth Pay Commission Pay hike after budget

As we had reported in our previous article New Pay Band of Indian Railway Employees: Sixth Pay Commission. Now, the news is getting hotter in expectations for the Railway Budget, which is slated to come out on July 8th 2009. The new Railways Minister Mamta Banerjee will be presenting the budget.

How much amount of money is expected to be included for Sixth Pay Commission Railway Employees Salary Hike?
Around 14,000 Crore Rs. are expected to be included for the Indian Railways employees for their salary hike as per the Sixth Pay Commission.

What are the developments for implementation for New Pay Band of Indian Railway Employees as per Sixth Pay Commission?
The most recent development has been the implementation of Sixth Pay Commission Salary Hike in Tamilnadu TN. Like TMC< DMK is also a close ally of UPA government. Since DMK has gone ahead and implemented the Pay Commission Salary hike in TN, the same is expected from Mamta Banerjee who is expected not leave any stone unturned for the benefit of the Railways employees.

What will be the expected salary hikes for the Indian Railway employees?
The Indian Railway employees can expect a sweet bonanza, if the reports are to be believed.
According to the arrear payment plan, Railways would make 40 per cent of arrear payment in the current financial year.
Rest 60% of the arrears would be paid in the next fiscal. The government on Friday finalised the notification on the pay panel report. It would cost the exchequer Rs 22,000 crore this year.
It is expected that each Railway employee will take home an average of 21 per cent higher salary next month. That is a big amount.
The salary increase for Group A officers will be much more than 21 per cent and in cases of some senior Railway Board officials, the hike is almost 50 per cent

Tamilnadu TN Sixth Pay Commission Recommendations Pay Hike Details

The latest news on the Sixth Pay Commission is coming for the state of Tamilnadu TN. We had initially reported about the Tamilnadu TN Sixth Pay Commission Salary Hike and then we also covered the key features of Tamilnadu TN Sixth Pay Commission Salary Hike. In this article, we cover some of the other fine details as per the reports available.
When will the revised pay scales for Tamilnadu TN Sixth Pay Commission be implemented?
The revised pay scales for Tamilnadu TN Sixth Pay Commission will be implemented from 1st January 2006 onwards and will be paid effecteive that date. However, the monetary benefits will be applicable from 1st January 2007 onwards.

What about the employees who retired?
Since there is a "carry forward" effect, employees who retired will also reap the benefits of a hike in pension

When will the arrears be paid for the Tamilnadu TN Sixth Pay Commission?
The arrears on Tamilnadu TN Sixth Pay Commission after adjustment of interim arrears are expected to be paid in full cash.
There will be 3 equal installments and will be paid in years 2009-10, 2010-11 and 2011-12.

HIGHLIGHTS of Tamilnadu TN Sixth Pay Commission Recommendations Pay Hike Details:

* Existing pay scales to be revised on Central ‘pay scale to pay scale’ basis

* Allowances have been doubled

General Sixth Pay Commission Salary Hike & Arrears Calculator

Tamilnadu TN Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

* Annual increment will be @3% of pay plus grade pay as in GoI

* DA will be sanctioned at same rates and on same date in the revised pay structure as sanctioned by GoI

* New pay scale of Rs 7000-225-11500 has been created for post of ministerial superintendent so as to place this post one level above that of the assistant section officer in secretariat and a corresponding revised pay scale of Rs 9300-34800 with a grade pay of Rs 4800 with effect from 12.12.07 will be granted

* Existing slab rates of HRA and CCA will be doubled

* Eligibility for travelling allowance has been modified suitably keeping in view existing levels

* Gratuity ceiling enhanced from Rs 3.5 lakh to Rs 10 lakh

* Family pensioners who exercise option to contribute Rs 50 per month from their family pension would be included in TN Pensioners’ Health Fund Scheme

* Consolidated pay/fixed pay/honorarium has been enhanced ensuring uniform increase of 25% of the existing emoluments

Tamilnadu TN Sixth Pay Commission Salary Hike

The latest news on Tamilnadu TN Sixth Pay Commission Salary Hike is covered here. As we had reported earlier in our article Tamilnadu TN Sixth Pay Commission Salary Hike, the Karunanidhi led DMK government offered the biggest ever bonanza to the Tamilnadu state employees.
Here are some of the Key features of the sixth pay commission ( 6th pay commission ) in Tamilnadu include:

# Annual increment is set at 3% as earlier.

# The grade pay remains the same as in Govt of India.

# Dearness Allowance will also remain same as in the revised Pay Structure issued by Govt Of India.

# The slab rates for HRA & CCA are doubled in the latest sixth pay commission in TN.

# All the allowances have been doubled as per the tamilnadu pay commission.

General Sixth Pay Commission Salary Hike & Arrears Calculator

Tamilnadu TN Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

# Daily allwances has also been doubled in the Tamilnadu sixth pay commission.

# The pension has also been modified just like the Govt Of India in the sixth pay commission announcement.

# Minimum pension has been modified from Rs 1,913 to Rs 3,050 under the Tamilnadu Sixth Pay commission structure.

How much salary hike will you get? Continue to Tamilnadu TN Sixth Pay Commission Recommendations Pay Hike Details

Latest: Tamilnadu TN Sixth Pay Commission to spend 223Cr: Accept all recommendations

This decision for implementation was taken on Saturday evening. As we had reported earlier, about a pre-election promise by DMK Chief M Karunanidhi, the TN state has agreed on implementing the recommendations of the Sixth pay Commission in Tamilnadu. The biggest benefeciaries are the Higher education teaching staff for whom the pay revision approved by the University Grants Commission (UGC) will be implemented. It will all turn out to be a big profitable salry hike for all the state employees