CPSE Pay Revision 2017 – Leased Accommodation
LEASED ACCOMMODATION
1. The Board of Directors shall be empowered to decide the lease rental ceilings applicable for the different level of executives.
The grade-wise lease rental ceilings may be decided in a standardized manner and on its merit keeping in view / linkage to the HRA amount, classification of cities for HRA purpose, pay scales of the executives, House Rent Recovery (HRR) rate, etc.
2. The above recommendations toward lease accommodation facility shall be applicable in lieu of availing HRA for rented accommodation.
However, if an executive is staying in his/her own house then normally he or she should be entitled to the HRA amount but if the said house is taken as lease accommodation for self-occupation purpose, then in such case the lease rental ceilings (after adjusting the House Rent Recovery amount) should not exceed the net applicable HRA amount.
3. The House Rent Recovery (HRR) should be at the following rate, or the actual rent, whichever is lower:-
Classification of cities Rates of HRR
X-class 7.5% of Basic Pay
Y-class 5% of Basic Pay
Z-class 2.5% of Basic Pay
The recovery of rent for Company owned accommodation shall be 7.5% of Basic Pay (for X-class cities) / 5% of Basic Pay (for Y-class cities) / 2.5% of Basic Pay (for Z-class cities), or standard rent fixed by CPSE, whichever is lower.
5. In case a nearby CPSE in need hires such un-utilized accommodation of other CPSE on mutual agreed lease terms, then the HRR from the executive for the hired CPSE’s accommodation should be treated at par with the HRR as applicable for Company owned accommodation of the CPSE rather than HRR as applicable for leased accommodation.
| More recommendations… |
| Revised Pay Scales effective from Jan 2017 |
| Fitment Benefit and Methodology – Click to read more |
| Calculation of Annual Increment – Click to read more |
| Dearness Allowance Calculation – Click to read more |
| Rates of House Rent Allowance (HRA) – Click to read more |
| Perks and Allowances – Click to read more |
| Retirement Age Recommendations – Click to read more |
| Bunching of Pay – Click to read more |
| Retirement Benefits – Click to read more |
| Voluntary Separation Scheme (VRS) – Click to read more |
| Leave Regulations – Click to read more |
| Leased Accommodation – Click to read more |