The Minimum Wages (Central) Amendment Rules, 2019

The Minimum Wages (Central) Amendment Rules, 2019

MINISTRY OF LABOUR AND EMPLOYMENT 

NOTIFICATION

New Delhi, the 29th January, 2019 

G.S.R. 56 (E).- Whereas a draft of certain rules further to amend the Minimum Wages (Central) Rules, 1950, among other rules, were published as required by sub-section (1) of section 30 of the Minimum Wages Act, 1948 (11 of 1948), in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (i) vide notification of the Government of India in the Ministry of Labour and Employment number G.S.R. 413(E),dated the 23rd April, 2018, inviting objections and suggestions from all persons likely to be affected thereby, within a period of three months, from the date on which copies of Official Gazette containing the said notification were made available to the public;

And whereas copies of the said Official Gazette were made available to the general public on the 23rdApril, 2018;

And whereas the objections and suggestions received on the said draft rules from the public have been considered by the Central Government;

Now, therefore, in exercise of the powers conferred by section 30 of the said Act, the Central Government hereby makes the following rules further to amend the Minimum Wages (Central) Rules, 1950, namely:-

(1) These rules may be called the Minimum Wages (Central) Amendment Rules, 2019. 

(2) They shall come into force on the date of their publication in the Official Gazette.

In the Minimum Wages (Central) Rules, 1950,-(a) in rule 21, for sub-rule (4A), the following sub-rule shall be substituted, namely:-

(4A) Every employer shall, on or before the 1st day of February in each year, upload unified annual return in Form III on the web portal of the Central Government in the Ministry of Labour and Employment giving information as to the particulars specified in respect of the preceding year:

Provided that during inspection, the inspector may require the production of accounts, books, registers and other documents maintained in electronic form or otherwise.Explanation.- For the purposes of this sub-rule, the expression “electronic form” shall have the same meaning as assigned to it in clause (r) of section 2 of the Information Technology Act, 2000 (21 of 2000).’;

(b) in Form III, for the word, figures, brackets and letter “Rule 21(4A)(1)”, the word, figures, brackets and letter “Rule 21(4A)” shall be substituted. 

[No. Z-20025/22/2018-LRC]

MANISH KUMAR GUPTA, Jt. Secy.

Note: The Minimum Wages (Central) Rules, 1950 was published in the Gazette of India vide notification number S.R.O. 776, dated the 14th October, 1950 and lastly amended vide notification number G.S.R. 182(E) dated the 12th March, 2015.

Source: labour.gov.in

Inspector of Posts Recruitment Rules, 2019

Recruitment Rules 2019 for Inspector of Posts (IPOs) - Gazette Notification dated 05-Feb-2019

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GAZETTE NOTIFICATION

10% to 14% Government Contribution in NPS – Gazette Notification

MINISTRY OF FINANCE
(Department of Financial Services) 
NOTIFICATION
New Delhi, the 31st January, 2019

F. No. 1/3/2016-PR.—In partial modification of para 1(i) of Ministry of Finance’s Gazette Notification No. 5/7/2003-ECB-PR dated 22nd December, 2003, based on the Government’s decision on 6th December, 2018 on the recommendations of a Committee set up to suggest measures for streamlining the implementation of National Pension System (NPS), the Central Government makes the following amendments in the said notification, namely :-

(1) In para 1(i) of the said notification, for the words “The monthly contribution would be 10 percent of the salary and DA to be paid by the employee and matched by the Central Government”, the words “The monthly contribution would be 10 percent of the Basic Pay plus Dearness Allowance (DA) to be paid by the employee and 14 percent of the Basic Pay plus DA by the Central Government” shall be substituted.

(2) The following provisions shall be inserted after para 1(v) of the said notification, namely:-
CHOICE OF PENSION FUND AND INVESTMENT PATTERN IN TIER-I OF NPS AS UNDER:

(vi) Choice of Pension Fund: As in the case of subscribers in the private sector, the Government subscribers may also be allowed to choose any one of the pension funds including Private sector pension funds. They could change their option once in a year. However, the current provision of combination of the Public-Sector Pension Funds will be available as the default option for both existing as well as new Government subscribers.

(vii) Choice of Investment pattern: The following options for investment choices may be offered to Government employees: –

(a) The existing scheme in which funds are allocated by the PFRDA among the three Public Sector Undertaking fund managers based on their past performance in accordance with the guidelines of PFRDA for Government employees may continue as default scheme for both existing and new subscribers.

(b) Government employees who prefer a fixed return with minimum amount of risk may be given an option to invest 100% of the funds in Government securities (Scheme G).

(c) Government employees who prefer higher returns may be given the options of the following two Life Cycle based schemes.

(A) Conservative Life Cycle Fund with maximum exposure to equity capped at 25% – LC-25.

(B) Moderate Life Cycle Fund with maximum exposure to equity capped at 50% – LC-50.

(viii) Implementation of choices to the legacy corpus: Transfer of a huge legacy corpus of more than Rs. 1 lakh crore in respect of the Government sector subscribers from the existing Pension Fund Managers is likely to impact the market. It may be practically difficult for the PFRDA to allow Government subscribers to change the Pension Funds or investment pattern in respect of the accumulatedcorpus,inonego. Therefore,forthepresent,changeinthePensionFundsorinvestment pattern may be allowed in respect of incremental flows only.

(ix) Transfer of legacy corpus in a reasonable time frame: PFRDA may draw up a scheme for transfer of accumulated corpus as per new choices of Government subscribers in a reasonable time frame of say five years. Once PFRDA draws up this scheme, change in the Pension Funds or investment pattern may be allowed in respect of the accumulated corpus in accordance with that scheme.

THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]

COMPENSATION FOR NON-DEPOSIT OR DELAYED DEPOSIT OF CONTRIBUTIONS DURING 2004-2012:

(x) In all cases, where the NPS contributions were deducted from the salary of the Government employee but the amount was not remitted to CRA system or was remitted late, the amount may be credited to the NPS account of the employee along with interest for the period from the date on which the deductions were made till the date the amount was credited to the NPS account of the employee, as per the rates applicable to GPF from time to time, compounded annually.

(xi) In all cases where the NPS contributions were not deducted from the salary of the Government employee for any period during 2004-2012, the employee may be given an option to deposit the amount of employee contribution now. In case he opts to deposit the contributions now, the amount may be deposited in one lump sum or in monthly installments. The amount of installment may be deducted from the salary of the Government employee and deposited in his NPS account. The same may qualify for tax concessions under the Income Tax Act as applicable to the mandatory contributions of the employee.

(xii) In all cases where the Government contributions were not remitted to CRA system or were remitted late (irrespective whether the employee contributions were deducted or not), the amount of Government contributions may be credited to the NPS account of the employee along with interest for the period from the date on which the Government contributions were due till the date the amount is actually credited to the NPS account of the employee, as per the rates applicable to GPF from time to time. Instructions to this effect may be issued by the Department of Expenditure/ Controller General of Accounts. All such cases of delay may be resolved within a period of three months.

The above provisions shall come into force with effect from 1st April, 2019.

Gazette Notification for Core Banking Solution in Post Offices dated 13.03.2014

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SETCION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 1Z March, 2014

G.S.R_( E ). In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Savings Bank General Rules, 1981, namely:-

1. (1) These rules may be called the Post Office Savings Bank General (Amendment) Rules, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Post Office Savings bank General Rules, 1981, hereinafter referred to as the said Rules in

Rule 2, after clause (v), the following clause shall be inserted, namely:-

(w) “Post Office with Core Banking Solution platform” means Post Office Savings Bank working on Core Banking Solution software.

3. In the said Rules, in Rule 4, after Sub-Rule (4), the following Sub-Rule shall be inserted,

namely:-

“(5) In case, of an account standing at any Post Office with Core Banking Solution platform,

deposit may be made at any other post office with Core banking Solution platform within the limits

prescribed and by paying such fee as may be specified by the Central Government by notification

in the official Gazette.”

4. In the said Rules, in Rules 5, ifi sub-rule (1), after clause (e) , the following clause shall be

inserted, namely:-

(i) “(f) in the accounts standing in post offices with Core Banking Solution platform, the

deposit may be made by any electronic mode.”

(ii) for sub-rule (2), th� following sub-rule shall be substituted namely:-

“(2) Each deposit shall be accompanied by a pay-in-slip provided that at any Post Office

on Core Banking Solution platform, the deposit shall be accepted by any electronic mode.”

5. In the said rules, in rule 6, sub-rule (3) shall be numbered as clause (i) thereof and after clause (i)

as so numbered,

The following clause shall be inserted namely:-

(ii) “In case of an account standing at any post office with Core Banking Solution platform in place, the Post Office Savings Bank shall on the request from the depositor or otherwise may issue Automated Teller Machine or debit card to the savings account holder on payment of such fee as may be specified by the Central Government by notification in the official Gazette” and the account holder having account in Post Offices with Core Banking Solution Platform may also withdraw money by using any electronic mode.”

6. In the said Rules, in Rule 8 in sub-rule (i), the following provisos shall be inserted, namely:-

(i)“Provided that in post offices working on Core Banking Solution platform, a statement of account may be issued in lieu of passbook at the option of the customer on payment of such fees

specified by the Central Government by notification in the official Gazette.”

“Provided further that balance and transactions shown in the Passbook or statement of account shall be for the information of the depositor.”

(ii) for sub rule (4), the following sub-rule shall be substituted, namely :-

“(4) The passbook shall ordinarily be presented for all withdrawals or deposits made at the counter and in case, deposits or withdrawals are made by using cheque or any electronic mode, the passbook, wherever issued, may be presented to the Post Office Savings Bank as soon as

possible thereafter for bringing it up-to-date.”

7. In the said rules, in rule 15, for clause (a), the following clause shall be substituted, namely:-

“(a) responsible to a depositor for any fraudulent withdrawal by a person obtaining possession of the passbook or Automated Teller Machine or Debit card or a cheque from the cheque book of the depositor or by using any electronic mode of withdrawal.”

F. No. 2/7/2012/NS-II1

Note; The principal rules were published in the Gazette of India, Extraordinary Part II, section 3, sub-section (i) vide number G.S.R. 662 ( E ), dated the 17*� December, 1981, and subsequently amended vide numbers G.S.R. 348 ( E ) dated the 10’� May 2002 and G.S.R. 586( E ) dated the

25 July, 2003,



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II-

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the \ 3 March, 2014

G.S.R_(E). In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the

Post Office Savings Account Rules, 1981, namely:-

1. (1) These rules may be called the Post Office Savings Account (Amendment) Rules, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Post Office Savings Account Rules, 1981,in Rule 9, for sub rule (2) the following sub-rule shall be substituted, namely:-

“(2) When payment of interest is not involved and when final withdrawal on closure of an Account is made at Post Offices on Core Banking Solution platform, such withdrawal on closure may be allowed by a Sub-Savings Bank without obtaining the prior sanction of the Head Savings Bank.”

F. No. 2/7/:�2/NS-II]

(Raj at

Joint Sec

Note: The principal rules were published in the Gazette of India, Extraordinary Part II, section 3, sub-section (i) vide number G.S.R. 663 ( E ), dated the 17“� December, 1981, and subsequently amended vide numbers G.S.R.8 (E), dated the 2nd February 1987, G.S.R. 948 (E ), dated the December 1984; G.S.R. 5(E) dated the 5‘� January 1989; G.S.R. 430 (E ) dated the 6*'� April, 1989; G.S.R. 695 (E ) dated the 17'" July, 1989; G.S.R. 813(E) dated the 4‘" September, 1989; G.S.R. 1001 ( E ) dated the 8'" November, 1989; G.S.R. 499 ( E ) dated the 8'" July, 1993; G.S.R. 165 (E ) dated the 28‘" February, 2000; G.S.R. 349 (E ) dated the 10'" May 2002; G.S.R. 431 (E ) dated the 14'" June, 2002; G.S.R. 587 (E ) dated the 25'" July, 2003; G.S.R. 286 ( E ) dated the 13‘" May 2005; G.S.R. 509 ( E ) dated the 27'" July, 2005; G.S.R. 481 ( E) dated the 11'" July, 2007; G.S.R. 478 ( E ) dated the 26'" June, 2008, G.S.R. 611 (E ) dated the 26'" August, 2008; G.S.R. 748 ( E ) dated the 13'" October, 2009; G.S.R. 882 ( E ) dated the 3'" November, 2010; G.S.R. 926 ( E ), dated the 24'" December, 2012 and G.S.R. 323 ( E ), dated the 20'" May 2013.



[TO BE PUBLISHED IN THE GAZETTE OF INDIA: EXTRAORDINARY, PART II-

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 13) March, 2014

G.S.R,_(E). In exercise of the powers conferred by section 15 of the Government Savings Bank

Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the

Post Office Recurring Deposit Rules, 1981, namely:-

1. (1) These rules may be called the Post Office Recurring Deposit (Amendment) Rules, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Post Office Recurring Deposit Rules, 1981,

(i) in rule 6, for sub rule (4), the following sub-rule shall be substituted, namely;-

"(4) Where a deposit is made by means of a cheque, pay order or demand draft, the date of its clearance into the Post Office Savings Bank shall be deemed to be the date of deposit.”

(ii) in Rule 7, for sub-rule (2), the following sub-rule shall be substituted, namely:-sub rule (2)

of Rule 7 shall be substituted by the followings:-

‘‘(2) If there are more than four defaults, the account shall be treated as discontinued and revival of the account shall be permitted only within a period of two months from the month of fifth default and in case a depositor fails to deposit next monthly deposit within the time prescribed in sub-rule (3) of rule 6, a default fee at the rate of five paise for every five rupee per defaulted deposits shall also be paid along

with regular monthly deposit.

(3) An account, in which all defaulted deposits are deposited with prescribed default fee and prescribed time as specified in sub-rule (2) shall not be treated as discontinued.

“Provided that notwithstanding anything contained in sub-rule (1),sub-rule(2) in the case of personal of Defence Services ( excluding Civilian Defence Employees).

(i) if there are not more than seven defaults in the monthly deposits, the depositor may, at his option, extend the maturity period of the account by as many months as the number of defaults and deposit the

defaulted deposits during the extended period.”

-----------------------------------------------------Page 4-----------------------------------------------------



ii) "If there are more than seven defaults in the monthly deposits, the account shall be treated as discontinued and the revival of the account shall be permitted only within a period of two months from the month of eighth default, subject to payment of default fee and defaulted deposits.

F. No. 2/7/2012-NS-II]

(Raj at Bhafgava)

Joint Secpfi�ry

Note : The Principal rules were published in the Gazette of India, Part 11, Section 3, sub-section (i) vide G. S. R. 666(E), dated the 17'� December, 1981, and subsequently amended vide: - G.S.R. 301(E), dated the 1�' April, 1982, G.S.R. 258(E), dated the ll“� March, 1983, G.S.R. 62(E), dated the 14“" February, 1984, G.S.R. 95(E), dated the February, 1986, G.S.R. 194(E), dated the 13“’ February, 1986, G.S.R. 363(E), dated the April, 1987, G.S.R. 39(E), dated the Id"’ January, 1988, G.S.R. 458(E), dated the 15"’ April, 1988, G.S. R. 708(E), dated the 2E’ July, 1989, G.S.R. 16(E), dated the 9’" January, 1990, G.S.R. 190(E), dated the 27"’ March, 1991, G.S.R. 579(E), dated the 12"’ September, 1991, G.S.R. 918(E), dated the ll"’ December, 1992, G.S.R. 42(E). dated the D’ February, 1993, G.S.R. 587(E), dated the 2"" September, 1993, G.S.R. 2(E), dated the 1st January, 1999, G.S.R. 748(E), dated the 4th November, 1999, G.S.R. 44(E), dated the 15"’ January, 2000, G.S.R. 152(E), dated the D’ March, 2001, G.S.R. 160(E) dated the March, 2002, G.S.R. 514(E), dated the 23rd July, 2002, G.S.R. 662(E), dated the 23’" September, 2002, G.S.R. 175(E), dated the E’ March, 2003, G.S.R. 588(E), dated the 25"’ July, 2003, G.S.R. 838 (E), dated the 27"’ December, 2004, G.S.R. 480(E), dated the 26"’ June, 2008, G.S.R. 740(E), dated the 4"’ October, 2011, G.S.R. 843(E) dated the 25"’ November, 2011, G.S.R. 320 (E), dated the 25"’ April,2012and G.S.R.398( E) dated the 25’" June 2013.

-----------------------------------------------------Page 5-----------------------------------------------------



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 13 March, 2014

G.S.R_(E). In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Time Deposit Rules, 1981, namely:-

1. (1) These rules may be called the Post Office Time Deposit (Amendment) Rules, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In Post Office Time Deposit Rules, 1981,

(I) in Rule 6, sub-rule (3), after clause (b), the following clause shall be inserted, namely:-

“(c):- where a deposit in an account standing at the post office working on Core Banking platform

become due for repayment, the account shall be automatically renewed from the date of maturity

for the same period for which it was opened initially and the deposit shall be eligible for rate of

interest applicable on the date of renewal,”

in rule 8

(a) clause (a) shall be omitted;

(b) for clause (aa), the following clause shall be substituted, namely:-

(aa) Where a deposit in 1-year, 2-year, 3-year or 5-year account is withdrawn prematurely before the expiry of 1 year from date of deposit, interest at the rate applicable to post office savings account from time to time shall be payable to the

depositor.”

F

No. 2/7/2012/NS-II]

(Rajat Bhargavfa)

Joint Secretary

Note : The Principal rules were published vide G.S.R. 664(E), dated the 1?"’ December, 1981,

-----------------------------------------------------Page 6-----------------------------------------------------



and subsequently amended vide: - G.S.R. 300(E), dated the April, 1982, G.S.R. 257(E), dated the 11* March, 1983, G.S.R. 502(E), dated the 9* July, 1984, G.S.R. 418(E), dated the 10* May, 1985, G.S.R. 193(E), dated the 12* February, 1986, G.S.R. 362(E), dated the 1st April, 1987, G.S.R. 1005(E), dated the 23'�‘* December, 1987, G.S.R. 353(E), dated the 18* March, 1988, G.S.R. 507(E), dated the 23'�'* May, 1990, G.S.R. 191(E), dated the 27* March, 1991, G.S.R. 580(E), dated the 12* September, 1991, G.S.R. 727(E), dated the 6th December, 1991, G.S.R. 431(E), dated the 24* April, 1992, G.S.R. 586(E), dated the 2"�* September, 1993, G.S.R. 118(E), dated the 8* March, 1995, G.S.R. 5(E), dated the January, 1999, G.S.R. 43(E), dated the 15* January, 2000, G.S.R. 151(E), dated the E' March, 2001, G.S.R. 159(E), dated the E‘ March, 2002, G.S.R. 174(E), dated the E' March, 2003, G.S.R. 589(E), dated the 25* July, 2003, G.S.R. 286(E), dated the 13* May, 2005, G.S.R. 479(E), dated the 26* June, 2008, G.S.R. 742(E), dated the 4* October, 2011, G.S.R. 846(E), dated the 25* November, 2011, G.S.R.323 (E), dated the 25th April, 2012 and G.S.R. 400 (E ) dated the 25* June, 2013.



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 13 March, 2014

G.S.R._(E). In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Monthly Income Account Rules, 1987, namely:-

1. (1) These rules may be called the Post Office Monthly Income Account (Amendment) Rules, 2014..

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In Post Office Monthly Income Account Rules, 1987,

(i) rule 6 shall be omitted.

(ii) in rule 8, in sub-rule (3), the following proviso should be inserted namely:-

"Provided that in case the account stands at the post office working on Core Banking platform and if so authorised, interest payable monthly shall be credited by the post office in the savings account of the depositor standing at any such post office or any branch of a bank.”

F. No. 2/7/2012/NS-II]

(Raj at Bhargava)

Joint SecKetary

Note : The Principal rules were published vide G. S. R. 701(E), dated the 10*'’ August, 1987, and subsequently amended vide: - G.S.R. 805(E), dated the 2E‘ July, 1988, G.S.R. 46(E), dated the 20*” January, 1989, G.S.R. 581(E), dated the 12*” September, 1991, G.S.R. 430(E), dated the 24*” April, 1992, G.S.R. 390(E), dated the 29*” April, 1993, G.S.R. 585(E), dated the 2"“ September, 1993, G.S.R. 5(E), dated the E* January, 1999, G.S.R. 45(E), dated the 15*” January, 2000, G.S.R. 80(E), dated the E* February, 2000, G.S.R. 613(E), dated the 18*” July, 2000, G.S.R. 153(E), dated the E* March, 2001, G.S.R. 161(E), dated the E* March, 2002, G.S.R. 350(E),dated the 10“’ May, 2002, G.S.R. 176(E), dated the E' March, 2003, G.S.R. 758(E), dated the 23��� September, 2003, G.S.R. 288(E), dated the May, 2005, G.S.R. 59(E), dated the 10“� February, 2006, G.S.R. 521(E), dated the August, 2007, G.S.R. 763(EX dated the 8'*� December, 2007, G.S.R. 741(E), dated the 4‘*’ October, 2011, G.S.R.845 (E), dated the 25'*’ November, 2011,G.S.R.322 (E ), dated the 25‘'’ April, 2012 and G.S.R. 399 (E ), dated the 25“� June, 2013.



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi,�arch, 2014

G.S.R._(E). In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Senior Citizens Savings Scheme Rules, 2004, namely:-

1. (1) These rules may be called the Senior Citizen Savings Scheme (Amendment) Rules, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In Senior Citizen Savings Scheme Rules, 2004 -

(a) in rule 5, in sub-rule (i), for clause (a), the following clause shall be substituted, namely’’-

(i) “(a) In cash, if the amount of deposit is up to rupees one lakh;

(ii) after clause (b), the the following clause shall be inserted namely;-

"(c) by any electronic mode if the account is opened in a deposit office working on Core Banking Solution platform.”

(b) In rule 7 for sub-rule (2), the following sub-rule shall be substituted, namely:-

(i) . (21 “Interest shall be payable from the date of deposit to 31®' March/30"' June/30"' September/31 December on 1®' working day of April/July/October/January as the case may be, in the first instance and thereafter, interest shall be payable on 1®' working day of

April/July/October/January.

(ii) in sub-rule (4), the following proviso shall be inserted namely;-

“Provided that where deposit office is working on Core Banking platform, interest payable on due dates as specified in rule (2), shall be credited by the deposit office in the savings account of the depositor standing at any such deposit office or any branch of a bank."

F.

1�0. 2/J/2�12/NS-II]

(Rajat Bha�va)

Joint Secretary



Note; The Senior Citizens Savings Scheme Rules, 2004 were published in the Gazette

of India (Extraordinary) vide notification number G. S. R. 490(E), dated the 2"'� August,

2004 and subsequently amended vide G. S. R. 706(E), dated the 27*�� October, 2004,

GSR 176(E), dated the 23�'' March, 2006, GSR 390(E), dated the 24**’ May 2007,G.S.R.

639 ( E ), dated the 28**’ July, 2010, G.S.R. 770( E ), dated the 19**’ October,

2011,G.S.R. (E ) 321 dated the 25**’ April 2012 and G.S.R. 402 ( E ), dated the 25**’

June 2013.



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the l3 March, 2014

G.S.R._( E ). In exercise of the powers conferred by section 3 of the Public Provident Fund Act, 1968 (23 of 1968), the Central Government hereby makes the following rules further to amend the Public Provident Fund Scheme 1968, namely:-

1. (1) These rules may be called the Public Provident Fund Scheme (Amendment) Rules, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In Public Provident Fund Scheme in paragraph 4, for sub-paragraph (1), (2), (3) and (4) the following shall be substituted, namely;-

“4. (1) Every individual desirous of subscribing to Fund under the Scheme for the first time either on his own or on behalf of a minor of whom he is the guardian shall apply to the Accounts Office in Form A form, together with the amount of initial subscription which shall be minimum of Rs.100.

(2) On receipt of an application under sub-paragraph (1), the Accounts Office shall open an account in the name of the subscriber and issue a passbook to him, wherein all amount of deposits, withdrawals, loans and repayment thereof together with interest due shall be entered over the signature of the Accounts Officer with the date stamp.

Provided that in case of Post Offices working on Core Banking solution platform, a statement of account shall be issued in place of passbook at the discretion of account holder.

(3) The subscriber shall deposit his subscription with the Accounts Office with challan in Form B, or as near thereto as possible and the counterfoil of the challan shall be returned to the depositor by the Accounts Office, duly evidenced by receipt. And in case of deposits made by cheque or draft or pay order, the Accounts Office may issue a paper token to the depositor pending realization of the proceeds.

(4) Every subscription shall be made in cash or crossed cheque or draft or pay order in favour of the Accounts Office at the place at which that office is situated.

“Provided that where the Account office is working on Core Banking platform, every subscription shall be made either by cash, cheque, draft, pay orders or any electronic mode in any Account office working on Core Banking Solution Platform.”

-NS-II]

(Raj at Bhar�ya)

Joint Secr�ry



Note:- The Principal notification was published in the Gazette of India vide number S.O. 48(E), dated the 15�'’ January, 2000 and subsequently amended vide S.O. 192(E), dated the E* March 2001, S.O. 271(E), dated the E‘ March, 2002, S.O. 250(E), dated the E‘ March, 2003, S.O. 2681(E), dated the 25*'’ November 2011, S.O.904 (E), dated the 25* April 2012. And G.S.R. 401 (E), dated the 25* June 2013.



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 13 March, 2014

G.S.R_( E ). In exercise of the powers conferred by section 12 of the Government Savings

Certificates Act, 1959 (46 of 1959), the Central Government hereby makes the following rules further to

amend National Savings Certificates (Vlll Issue), 1989 namely:-

1. (1) These rules may be called the National Savings Certificates (Vlll Issue) (Amendment) Rules,

2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In National Savings Certificates (Vlll Issue) Rules -

(i) In rule 7, in clause (iv), the following clause shall be substituted, namely:-

“(v) by any electronic mode in case of certificates are purchased from the post offices working on Core Banking Solution platform.”

"(4) In every case of transfer, name of previous holder shall be rounded and name of new holder shall be written under the dated signature of the authorized Postmaster along with his designation and date stamp of the post office.”

(ii) after sub-rule (5), the following sub-rule shall b;e inserted, namely:-

“(5) Transfer of certificate shall be allowed only once from the date of issue to the date of

discharge of the certificate.”

(iii) rule 23 shall be omitted.

F. No. 2/7/2012/NS-II]

(Raj at BhargaLa)

Joint SecroJary

(i)in rule 11, for sub-rule(4), the following sub-rule shall be substituted, nameiy:-



Note : The Principal rules were published vide G.S.R. 496(E), dated the May, 1989 and subsequently amended vide G.S.R. 508(E), dated the 23�� May, 1990, G.S.R. 120(E), dated the 8‘*’ March, 1998, G.S.R. 7(E), dated the January, 1999, G.S.R. 491(E), dated the 6*'’ July, 1999, G.S.R. 47(E), dated the IS**’ January, 2000, G.S.R. 156(E), dated the March, 2001, G.S.R. 572(E), dated the 2"'* August, 2001, G.S.R. 163(E), dated the 1'‘ March, 2002, G.S.R. 711(E), dated the 17“� October, 2002, G.S.R. 179(E), dated the March, 2003, G.S.R. 590(E), dated the 25* July, 2003, G.S.R. 591(E), dated the 25* July, 2003, G.S.R. 820(E), dated the 16* October, 2003, G.S.R. 289(E), dated the 13* May, 2005, G.S.R. 744(E), dated the 4* October, 2011, G.S.R. 842(E) dated the 25* November, 2011, G.S.R. 318(E), dated the 25* April, 2013 and G.S.R.397 ( E ), dated the 25* June 2013.



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the l3 March, 2014

G.S.R._ ( E ). In exercise of the powers conferred by section 12 of the Government Savings

Certificates Act, 1959 (46 of 1959), the Central Government hereby makes the following rules further to

amend the National Savings Certificates (IX Issue), 2011 namely:-

1. (1) These rules may be called the National Savings Certificates (IX Issue) (Amendment) Rules,

2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In National Savings Certificates (IX Issue) Rules -

(i) in rule 7, the following clause shall be inserted, namely:-

“(v) by any electronic mode in case of certificates are purchased from the post offices working on Core

Banking Solution platform.”

(ii) for rule 9, the following rule shall be substituted, namely:-

‘‘9.Certificate in lieu of proceeds of old certificates:- A holder of an old certificate entitled to encash that certificate may make an application in Form 1 for the grant of a certificate under these rules, and on receipt of such an application, there shall be issued to the applicant a certificate under these rules and the date of issue of the certificate shall be the date on which the old certificate duly discharged is

presented..

(iii) in rule 11,

(a) for sub-rule (4), the following sub-rule shall be substituted, namely:-

“(4) In every case of transfer, name of previous holder shall be rounded and name of a new holder shall be written under the signature and date of the authorised Postmaster along with his designation and date stamp of the post office.”



(b) after sub-rule (4), the following sub-rule shall be inserted, namely:-

“5) Transfer of certificate shall be allowed only once from the date of issue to the date of discharge of the certificate”

(ii) rule 23 shall be omitted.

F.No. 2/7/20132/NS-II]

Note:- The Principal rules were published vide G.S.R. 848(E), dated the 29'’’ November, 2011 and subsequently amended vide G.S.R. 219 (E), dated the 25'' April,2012 and G.S.R. 403 ( E ), dated the 25* June 2013.