Sunday, April 4, 2010

NOINO/NOIW delegation meets Managing Director

Reproduced below is the circular which contains the details of discussions of NOINO / NOIW with MD Shri A K Dasgupta:

(Affiliated to B.M.S.)


NOINO/NOIW delegation meets Managing Director

A joint delegation of NOINO & NOIW met Managing Director Shri A K Dasgupta today, i.e. 3rd April 2010. The delegation consisted of Shri Ganesh Kamath, GS, NOINO; Shri Manish Patankar, jt.secy, NOINO, WZ; Shri Dnyanesh Paranjape, Secy, NOIW & Shri Brahmesh Hardikar, Secy, NOIW. The following issues were raised:

Position on charter: - We said that the joint front had suspended the agitation on the assurance of the Chairman & the MD & hence the responsibility of settlement of early & satisfactory wage revision was squarely on the management. Shri Dasgupta responded positively & said that the employees will not be disappointed on the issue of charter. He said that things were moving in the right direction & very soon we would be hearing in this matter.
Tax on Perquisites:- All are aware that an All India delegation of NOINO had raised the demand on 18th of February with the ED (Personnel) & ED (Mktg) that LIC should bear the tax on perquisites relating to staff quarters, newspaper re-imbursement & on car under scheme VI (revised). We had submitted a letter in this matter to ED (Mktg) on 20th February. We had also submitted a letter to the Chairman on 17th of March quoting the example of SBI which vide circular dated 13.3.2010 had decided to bear the tax on perquisites & asked LIC to emulate their example. We had again raised this matter during the discussions with the management on 19th March. We had reminded the Chairman of this issue on 23rd March when we had been to submit a letter on behalf of the joint front. Today i.e. on 3rd April we again raised this issue. Shri Dasgupta responded that the management was exploring the possibility & very soon we would hear in this matter.
Housing loan:- Though the discussion was not very extensive on this matter, we raised two points. One, that the condition of LIC HFL that 50% of net salary would be the limit for deductions compares unfavourably with the erstwhile condition of IEHS scheme of LIC which allows this limit to 25% of gross salary (i.e. he should get 25% of gross salary after deductions). Secondly, the IEHS scheme granted 100% of the eligible loan while HFL is granting 85%. Shri Dasgupta assured to look into the matter.

We will continue to follow up the above matters.

Yours faithfully,

Ganesh Kamath
Dnyanesh Paranjape
Secy., NOIW.

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