Resigning from a job is a major decision, and understanding your financial entitlements is crucial. One such benefit is gratuity, a lump sum amount paid by an employer to an employee as a token of appreciation for long-term service. The Payment of Gratuity Act, 1972 governs gratuity payments in India. Let’s explore how to claim … Read more
The Pay Commission is responsible for reviewing and recommending salary, pension, and benefits revisions for central government employees and pensioners in India. According to a report by Goldman Sachs, if the 8th Pay Commission is implemented, central government employees could see a salary increase of up to Rs 19,000 per month. This would benefit around … Read more
The Employees’ Provident Fund Organisation (EPFO) has made important changes to the Employees’ Deposit Linked Insurance (EDLI) scheme. This scheme is designed to help the families of employees by giving them financial support if the employee passes away unexpectedly. The recent updates have been made to provide better insurance coverage and ensure that more employees … Read more
The Unified Pension Scheme (UPS) will take effect from April 1, 2025. This scheme will change the pension benefits for government employees by introducing a minimum pension and lump-sum gratuity. While most employees will be covered under this new scheme, some may not meet the criteria for the maximum gratuity ceiling of ₹25 lakh. Below … Read more
The Unified Pension Scheme (UPS) is set to be introduced by the government alongside reforms in the National Pension System (NPS) for the financial year 2025-26. This scheme aims to offer better benefits such as gratuity, lump-sum payments, and assured pensions for employees after retirement. What Is The Unified Pension Scheme (UPS)? UPS is designed … Read more
The government has introduced the Unified Pension Scheme (UPS) to provide financial security to employees after retirement. This scheme ensures that those who have worked for at least 10 years receive a minimum pension of ₹10,000 per month. It is designed as a short-term measure to help retirees manage their expenses more easily. Key Features … Read more
The government has announced a big gift for millions of employees demanding the Old Pension Scheme (OPS). To address two decades of protests against the National Pension System (NPS), the government has directed that OPS-like facilities be included in the new pension scheme. The Central Pension Accounting Office (CPAO) has instructed officials to process NPS … Read more
