New Delhi: Preparing for the Privatization of Air India (AI) to come, the government has requested airline management to ensure company accommodation that empties employees in the AI ​​housing colony within six months from Maharaja get new owners.
Management has also been directed at searching for nods from at least half of employees from two provident funds (PF) trusted so that the investment of them can be liquidated and transferred to the Providential Fund Organization (EPFO) before the divestment.
The Minister of Home Amit GOM, which is headed by Shah at the AI ​​divestment has decided that the government will give 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: the modality emptied and submitted the AI ​​Post Disinvestment colony: The Minister of AI has decided that “AI employees can continue to live in housing colonies from post-divestment companies for six months or until the property is monetized, which is early.
The right settings and settings Others include financial disincentives must be formulated to enable a quick vacation from property by employees.
“The Ministry told AI that employees will not be eligible for HRA or lease allowances until they occupy these accommodations and the Government / AI will not be obliged to maintenance large and renovation 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 The existing, it will be made both by the AI ​​/ Government of 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 each employee.
AI has been asked to complete the earliest process.
AI has also been told to provide reasons for lack of investment liquidation values ​​in two trust 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; 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 this scheme will be implemented to post divestment of this employee.