AIS members can invest an amount less than their six months’ basic salary without informing the authority. Explain that the salary given to the members of AIS is based on the recommendations of the Seventh Pay Commission.
New rules of trading have come for government employees engaged in All India Services (AIS). Under this, now the employees will have to buy or sell shares, securities or other investments for a limited period or amount.
This thing was said in the circular: Recently the Department of Personnel and Training (DoPT) has issued a circular. According to this, if a member of AIS invests in shares in excess of six months’ basic salary during a calendar year, the details should be reported to the prescribed authority. This information will need to be given by 31 January of the following year.
This means that AIS members can invest an amount less than their six months’ basic salary without informing the authority. Explain that the salary given to the members of AIS is based on the recommendations of the Seventh Pay Commission.
It is also important: AIS member has to inform the authority also in case where an individual transaction exceeds two months basic pay. DoPT has said in a circular- Shares, securities, debentures etc. are treated as movable assets as per Explanation-1 under rule 16 of the AIS (Conduct) Rules, 1968. If the transaction of an individual is more than two months basic salary of the member. In such a situation, it is necessary to inform.
