50 Lakh Central Govt Employees Will Get Rs 10,000 Holi Gift; But RuPay Card Mandatory To Get Gift
This Holi comes with a great news for all the employees of the central government – a gift as an advance of Rs. 10,000. This gift is offered to the employees under a Special Festival Allowance Scheme.
As per reports, this decision is a part of the Seventh Pay Commission.
However, there is a catch!
Read on to find out more about this Holi gift and the rules about the same as well!
Govt Employees To Get Rs. 10,000 Under Special Festival Allowance Scheme
The above mentioned Special Festival Allowance Scheme offers an advance that is free of interest and also can be returned in 10 easy installments. All the employees will be offered this loan in the form of a prepaid RuPay card.
This decision was not included in the 7th pay commission when it was implemented, thereby making it all the more special as it has now been included in the commission.
As per the sixth pay commission, there was a festive advance of Rs. 5400 that was available for non-gazetted officers and employees.
Entire Sum To Be Spent Before This Date?
However, the Department of Finance has stated in an office memorandum that the money received will have to be spent before March 31, 2021. Also, the advance will be given only once a year. his means that if the benefit has not been availed by the employee earlier, they can avail of this scheme during the Holi festival.
As per reports, state governments will also be given the option to offer a festive advance similar to that provided by the union government.
It was also announced by the Union Finance Minister Nirmala Sitharaman that the advance that is being handed out to the employees will be preloaded. Also, there will be money present in the ATM of the central government employees and they will be free to spend it as they please.
Recently, we reported to you that under the 7th pay commission, the DA benefits will be restored from July 1. This means that central government employees and pensioners will be getting a huge increase in their allowances.