“Air India Divestment: Staff colonies to be emptied in 6 months”: The government to make any shortcomings in PF employees

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Air India Divestment

Preparing for the Privatization of Air India (AI), the government has requested airline management ensure employees emptying company accommodation in the AI ​​housing colony within six months from Maharaja to get new owners.

Management has also been directed to find a nod from at least half of employees from two Provident funds (PF) trust so that their investment can be liquidated and transferred to the Employee Provider (EPFO) organization before the divestment.

The home of Home Amit GOM unit, headed by Shah in the AI ​​divestment, has decided that the government will provide any shortcomings in the values ​​of existing PF investment liquidation if needed through budget support.

The government expects the privatization of AI to be completed at the end of this fiscal, with regular groups widely seen as a danger to get airlines founded by Venerable J R D Tata.

The aircraft ministry has sent a series of communications to the Chairperson of AI Rajiv Bansal on various problems. Among them is the modality that emptied and handed the AI ​​Post Disinvestment colony: a religious group for Divesta AI has decided that “AI employees can continue to stay at housing colonies from post-divestment companies for a period of six months or until the property is monetizing, which is early . Proper settings and other settings including financial disincentives must be formulated to enable a fast vacation from property by employees. ”

The ministry told AI that employees would not be eligible for HRA or rent allowances until they occupy this accommodation. The government / AI would not be obliged to provide extensive maintenance and renovation of these colonies.

AI management has been asked to prepare and submit a binding mechanism to empty these houses by employees immediately post divestment.

Dana Transfer Provident (PF) AI from the 1925 Provident Law to the EPFO ​​Under the EPF 1952 Law: Communicating GOM’s decision on this issue, the Ministry has told AI that, “Voluntary Transfer PF, is currently operated through two beliefs Separately, to EPFO ​​before the divestment for the benefits of PF employees. Investing in the existing PF Trusts must be liquidated before the transfer to the EPFO ​​and will be ascertained that the value of the value that can be realized (IS) is achieved. It is also decided that if there is a lack of investment liquidation of PF Trust What is there, it will be made either by AI / Government India, if necessary through budget support. ”

The Ministry has asked AI to prepare for PF fund transfer modalities, including obtaining approval of more than 50% of employees of each trust.

AI has been asked to complete the earliest process. AI has also been told to provide reasons for the lack of investment liquidation values ​​in two trusts in priority.

Medical Facilities for retirees AI Post Disinvestment employees: Communicate GOM’s decision on this issue. The Ministry has told AI that medical benefits will be given to Pension and retired AI employees. “Alternative to the provision of the benefits of Thes through CGHS will be explored.” A similar model can be adopted for other PSU privatized.

Thus, AI has been asked to submit details of all existing retirees and their partners. On the transaction date (AI privatization), those who reached retirement age from 58 in AI, AI and Aiasl engineering services on the transaction date (AI privatization) were closed. Those aged 55 years on that date or have completed 20 years of service in these three companies. The possibility of expenses involved and how will implement this scheme to post divestment of this employee.

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