PRC hikes in bonds for Telangana employees

The bubble of happiness over 43 per cent hike given by PRC has been burst. The Telangana govenment now wants to issue bonds for the enhanced salary amount instead of paying cash or debiting it to their PF accounts. The salary hike that will impose an additional burden of Rs. 6,500 to Rs. 6,700 crore on the government, will benefit 3 lakh employees and 2.4 lakh pensioners.

Telangana Finance Minister Eatala Rajendra informed the Assembly on Friday that government employees would get their enhanced salary arrears in the wake of Pay Revision Commission recommendations in the form of bonds, together with interest, over a period of five years.

The arrears would be paid from June 2 last year till the salary for February that was remitted this month.

All employees of the State government, local bodies, public undertakings and non-teaching staff of universities would be covered in the scheme wherein the minimum salary limit is from Rs. 6,700 to Rs. 13,000 and maximum salary from Rs. 55,000 to Rs. 1,10,850, ceiling of house rent allowance in Greater Hyderabad Municipal Corporation limits from Rs. 12,000 to Rs. 20,000, minimum pension from Rs. 3,350 to Rs. 6,500, stagnation increments from 3 to 5, medical allowance from Rs. 200 to Rs. 350 and tuition fee reimbursement from Rs. 1,000 to Rs. 2,500.

The city compensatory allowance will be doubled, dearness allowance fixed at 63.34 per cent and gratuity on retirement will be hiked.