FINANCE & ACCTS



# Salary through ATMs #
Government has introduced the facility of  payment of salary for all employees (SDOs and non SDOs) through public sector bank accounts (in a way through ATMs). This is on an optional basis. which means the employee can opt or opt out of  payment through bank accounts. For more details please refer GO (P) No 402/11/Fin dated 23.09.2011 available at finance dept web site.As in any case there are two sides to this story as well.



Advantages 
1. Physical security of money (Banks would take care of your money. No cash chests, no theft. no head aches)
2. Ease of withdrawal of money ( withdraw money round the clock through any ATMs, withdraw only as much as you need. Gain some bank interest on the balance of money deposited in the account)
3. Do not carry cash , just carry the ATM/debit card with you ( you can pay with your ATM card, shop with the card and even pay on line. no risk of theft or loosing money accidently).
Dis-advantages
1. Cashiers of the department might be out of job.
2. We have to find some innovative use for existing cash chests.
3. Allowances like cash handling allowance would vanish
4. Even the staff pattern of clerks could be revised/down sized
5. Deductions like loan recoveries of societies could become difficult to monitor

Think about it, make up your mind, and exercise your choice.......


# New rates for GIS #

Government vide GO(P) No. 381/2011/Fin dated 6/9/2011 have specified revised slabs and new rates for Group Insurance Scheme. The revised rates take effect from 1/9/2011. For details please click of the finance department link on web links.