Liquidated Damages - LD in Works

 Liquidated Damages in Works 

● Source: Clause 17B of GCC 

● Levied for delay of Works due to Contractor i.e., Clause 17B of GCC (not due to by Railways or any other reason) 

● If the Contractor fails to complete the works within the time as specified in the contract for the reasons other than the reasons specified in Clause 17 and 17-A, Liquidated Damages / General Damages on Contractor. 

● Value of the Work - Value of Agreement including any supplementary agreement. 

● Total LD - shall not exceed 5 % of the Value of the Work or total value of item or groups of items of work for which a separate distinct completion period is specified in the contract. 

● LD Rates  - As decided by the Engineer - Between 0.05 % to 0.30 % of Contract value of the work for each week or part of the week.  

● If the Railway is not satisfied that the works can be completed by the Contractor and in the event of failure on the part of the contractor to complete the work within further extension of time allowed as aforesaid, the Railway shall be entitled without prejudice to any other right or remedy available in that behalf, to appropriate the contractor’s Security Deposit and rescind/cancel the contract under Clause 62 of these Conditions, whether or not actual damage is caused by such default. 

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Deposit Linked Insurance Scheme

 DLI   - Deposit Linked Insurance Scheme

• DLI stands for Deposit Linked Insurance  

 

• Introduced w.e.f.,  08.01.1975 

 

• Object: 1. To provide extra social security to the families of subscribers to SRPF  2. A positive incentive to Railway employees who save more (in their PF Account) 

 

• Payment of Premium is not required. 

 

• Minimum qualifying balance is as follows: 

Grade Pay	Minimum qualifying balance in the last 36 months at the credit of the PF account of the deceased employee.
Grade Pay 4800 and above	Rs. 25000
Grade Pay 4200 to Grade Pay 4800	Rs. 15000
Grade Pay 1400 to Grade Pay 4200	Rs. 10000
Grade Pay 1300	Rs. 6000

• Payment: The minimum balance available in PF account during the last 36 months subject to the ceiling limit of Rs. 60,000 will be paid to the heir of deceased employee. 

Example 1: Mr A whose Grade Pay is 4200 died on 05.01.2022.  His minimum balance in PF account during the last 36 months prior to January, 2022 is Rs. 16000.  So DLI payment to the heir of Mr A is Rs. 16000 

Example 2: Mr B whose Grade Pay is 1300 died on 05.01.2022.  His minimum balance in PF account during the last 36 months prior to January, 2022 is Rs. 5900.  Since the minimum balance i.e Rs.5900 is less than minimum required is Rs.6000, the heir of Mr B is not eligible for DLI.  

Example 3: Mr C whose Grade Pay is 4800 died on 05.01.2022.  His minimum balance in PF account during the last 36 months prior to January, 2022 is Rs. 72000.  So DLI payment to the heir of Mr C is Rs.60000 which is maximum under DLI scheme. 

Material for MCQ

1. Maximum DLI to be paid is Rs.60000

2. Payment of DLI is minimum balance in last 36 months subject to maximum of Rs.60000

3. Qualifying period is 36 months

4. DLI stands for Deposit Linked Insurance

5. Introduced in the year 1975 

6. Applicable to the SRPF subscribers only

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RA - Railway Saloon

 Railway Saloon  - Home on Wheels

• RA stands for Railway Saloon

• Travel in an exclusive Railway Saloon to relive the era of the Raj

 

• Facility provided by IRCTC on Charter

 

• Ideal for those seeking privacy and exclusivity with their family or for newly married couples or  hosting meetings for business purposes.

 

 

 

 

Kitchenette: 

• For cooking fresh food while on Travel

• Fully equipped with Utensils, Sink, Refrigerator, RO purified water

• Will provide Cook and Provisions if required at additional cost.

 

 

 

 

 

Bedrooms:

• Two AC Bedrooms 

• One Twin Bedroom like in Hotel and another with two beds as in AC 1 coupe.

• Attached bathrooms with hot / cold water, shower, water closet. 

• Luggage racks, cupboards, writing table, dressing table etc. 

 

 

 

 

 

 

 

Living Cum Dining Room

• Spacious AC room with Sofas, TV, Dining table 

Other features:

• In addition to the Bedrooms, Every RA has 4 to 6 extra berths/beds for accommodating more people

• One AC Attendant and one General Attendant  - available

• RA can be attached from all major Stations in most Express Trains subject to technical feasibility.

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MCQ Test on Rolling Stock Code / Workshop Accounts - CBT mode

 

Rolling Stock Code - Workshop Accounts - MCQ Test

 

Please attend MCQ Test (CBT mode)  on Workshop Accounts - Rolling Stock Code at 8 PM on 22nd October, 2022 (Saturday) 

Click for download of 190 pages Rolling Stock Code 2022 October edition