NOINO wins - LIC to bear tax on perks

5.4.2010.
Dear brothers & sisters,

HUGE VICTORY FOR CONSISTENT DEMAND & FOLLOW-UP OF NOINO

MANAGEMENT ACCEPTS OUR DEMAND OF LIC TO BEAR TAX ON PERKS

NOINO has done it once again! The management has agreed to our demand of LIC to bear Tax on perquisites. It is the result of our continuous & determined follow-up on this issue. NOINO was the only organization to raise this demand. The detailed circular will follow. It is not clear as of now as to from when this will be given effect. Following is the summary of our datewise efforts:

1. 18.2.2010-----NOINO's All India delegation meets ED(MKTG) & ED(Personnel) & raises the demand that LIC should bear tax on perquisites.
2. 20.2.2010-----Letter submitted to ED(Mktg) & Chairman.
3. 17.3.2010-----NOINO again raises this demand in the light of SBI deciding to bear the tax on perks vide their circular dated 13.3.2010.
4. 19.3.2010-----NOINO again raises this demand during the discussions with management.
5. 22.3.2010-----NOINO again reminds the Chairman of this demand while submitting the joint front letter of suspension of agitation & demanding early & satisfactory settlement.
6. 3.4.2010------NOINO submits reminder letter to MD Shri A K Dasgupta. We also met him personally to remind him of this issue among other issues.
7. 5.4.2010-----Management issues circular that tax on perks, taxable at the hands of employees would be borne by LIC.

We sincerely thank the management for taking the right decision & provide relief to several employees.

In another development, the Basic sum assured of Mediclaim has been increased as follows:-

1. From 60000 to 85000.
2. From 80000 to 110000.
3. From 120000 to 165000.

Yours brotherly,
Sd/-
Ganesh Kamath
GS, NOINO.