Buying Homes at lower interest rates for Government employees, says FM Nirmala Sitharaman

Buying Homes at lower interest rates for Government employees, says FM Nirmala Sitharaman

Finance minister Nirmala Sitharaman brought good news for government employees with an announcement to lower the interest rate on house building advance available to them. The move, among other measures announced on Saturday, was aimed to give a fillip to the reality sector. Finance Minister Nirmala Sitharaman said the lowering of interest rates will encourage…

Confused about the travelling allowance rules and 7th CPC; Government employees must know

Confused about the travelling allowance rules and 7th CPC; Government employees must know

7th Pay Commission: From Dearness Allowance to Travel Allowance, over 4.9 million government employees get several allowances benefits under accordance with the Seventh Pay Commission. However, govt employees often remain confused about the travelling allowance rules and implementation of the recommendations of the 7th pay commission (7th CPC). Among those allowances, government employees are usually…

How New Pay Structure & Fitment Factor will make Government Employees Rich under 7th CPC

How New Pay Structure & Fitment Factor will make Government Employees Rich under 7th CPC

The implementation of the 7th pay commission recommendations by central as well as several state governments has certainly put more money in the hands of employees, helping them in improving quality of their lives while also tackling inflation. A lot of time has passed since 7th CPC recommendations were submitted to the government. It had…

Government Employees avail these benefits of new National Pension System (NPS)

Government Employees avail these benefits of new National Pension System (NPS)

National Pension System: The government employees who take retirement prior to the age of superannuation, not completing the minimum number of 20 years of service requirement, can also avail of the benefits of new National Pension System (NPS), launched in January 2004 for government employees, later opened to all. Under NPS, there is a provision…

Are you Salaried Employee? Leave encashment is taxable while in service

Are you Salaried Employee? Leave encashment is taxable while in service

As per the Income Tax rules, leave encashment is taxable as a salary if you receive it while in service. If a government employee gets leave encashment at the time of retirement, then s/he doesn’t have to pay tax on it. The official Income Tax website says, “​​​It is taxable if received while in service….

Madhya Pradesh government has announced DA hike for government employees

Madhya Pradesh government has announced DA hike for government employees

Madhya Pradesh government is the latest to follow the Central Government announcement of 3 per cent hike in the Dearness Allowance (DA) and Dearness Relief (DR) for government employees under 7th Pay Commission recommendations. Employees who were receiving their salary under the 7th Pay Commission recommendations will now get 12 per cent DA while the…

7th Pay Commission – Centre will announce Increase in pension, tax exemption by next week

7th Pay Commission – Centre will announce Increase in pension, tax exemption by next week

7th Pay Commission : In December, as an early New Year bonanza to government employees, the Modi government had decided to tweak the New Pension Scheme (NPS) – also known as National Pension Scheme – to not only hike up the Centre’s contribution to the corpus but also introduce tax exemption. However, the decision had…

Salary hike cleared for 20 lakh government employees of Maharashtra

7th Pay Commission: Ahead of general elections 2019, new year gifts have started pouring in for these state government employees. While the central government staffers are yet to get good news with regards to their demand related to 7th pay commission, around 20,50,000 government employees including those working in Zilla Parishads (ZPs), aided schools and…