The good thing is that you can contribute to NPS according to your needs so that your corpus can increase. When the corpus increases, the pension amount will also increase. Now you can open NPS accounts for children as well. NPS Vatsalya Yojana has been started for them.

Looking at the rate at which inflation is increasing, it can be said that in the coming days, at least one lakh rupees will be required to run the household expenses every month. It has become very important to arrange money from now to run your own expenses after retirement. If you want to get a pension of Rs 1 lakh every month after retirement, then you have to invest wisely from now itself.

Where will I get my pension from?

National Pension System or NPS is one such effective method, which is capable of getting you adequate pension after retirement. But for this you have to plan and invest from now itself. Many people asked us how much money should be invested in NPS from now itself so that after retirement at least one lakh rupees can be received every month. Suppose Shriram is currently 40 years old. How much should he invest in NPS every month so that he can get this much amount every month after retirement?

Why only NPS?

Here the question arises that why should we rely only on NPS for pension? How does it work? You should know that NPS is a long-term savings scheme which is run by the Central Government. It is controlled by the Pension Fund Regulatory and Development Authority (PFRDA). It has two types of accounts – Tier-I, which is a mandatory pension account, and Tier-II, which is a voluntary savings account. Investments made in Tier-I account cannot be withdrawn till the age of 60. The amount invested is divided into equity (shares), corporate bonds and government securities. The good thing is that in this, investors can allocate assets as per their choice. Also, you can choose the option of active or auto mode in the fund.

There is also income tax exemption

NPS also provides tax exemption. Under Section 80CCD(1) of the Income Tax Act, you can get tax exemption by investing up to Rs 1.5 lakh in it. This exemption is included in the limit of 80C. Apart from this, investing in NPS gives an additional exemption of Rs 50,000 under Section 80CCD(1B). In this way, by investing in NPS, you can get a total tax exemption of up to Rs 2 lakh.

How much investment is required to get a pension of Rs 1 lakh

Now the question arises that how much should a 40-year-old person invest now so that he gets a pension of Rs 1 lakh every month when he turns 60. If a person starts investing in NPS at the age of 40 and continues investing till the age of 60 i.e. for 20 years, then he will have to create a corpus of about Rs 4.97 crore. This target is based on the condition that NPS gives an average annual return of 10% and the return on annuity after retirement is about 6%. Suppose you invest Rs 65,000 every month in NPS and get an average return of 10% for the next 20 years. Then your total maturity amount will be about Rs 4.97 crore. Meaning that you will have to invest Rs 65,000 every month for 20 years.

On what amount will the pension be calculated?

According to the rules of NPS, after retirement, you can withdraw up to 60% of the total amount tax-free. That is, out of Rs 4.97 crore, you can transfer Rs 2.98 crore directly to your account. The remaining 40% (Rs 1.99 crore) amount will have to be used to buy an annuity plan. If this amount gets an annual return of 6%, then you can get a pension of about Rs 1 lakh every month. It is worth noting here that this calculation is approximate. What will be the actual pension amount received after retirement will depend on the amount invested, the rate of return and the annuity plan chosen.

How much money will be received on NPS maturity

As per the rules of NPS, if the total fund is less than Rs 5 lakh, then you can withdraw the entire amount tax-free. If the fund is more than Rs 5 lakh, then 60% of the amount can be withdrawn tax-free. It is necessary to buy an annuity for the remaining 40% amount. You will also have to pay income tax as per your tax slab on the monthly pension received from the annuity.

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Second, you will have to donate your organs. Yes, central government employees will get 42 days of leave on organ donation. Even knowing this, private people cannot do anything except regret. The National Organ and Tissue Transplant Organization (NOTTO) has given this information.

According to a report in the Times of India, Dr Anil Kumar, head of the National Organ and Tissue Transplant Organisation, said that the Department of Personnel and Training has already issued orders in this regard. He said, “We have recently uploaded the orders on our website for wide dissemination and awareness.”

Who issued the order?

Actually, organ retrieval from a donor is a major surgery. It takes time to recover. This includes both the period of hospitalization and after discharge. The Department of Personnel and Training (DoPT) order said that as a ‘special welfare measure’, the government has decided to grant a maximum of 42 days of special casual leave to those central government employees who decide to donate their organs.

What the order says

It states that the 42-day leave rule will be applicable irrespective of the surgery performed to remove the donor organ. The National Organ and Tissue Transplant Organisation recently uploaded this order on its website. The order was issued by the Department of Personnel and Training (DoPT) in 2023 itself. The order states, ‘Special CL shall normally be taken in one go from the day of admission to the hospital.’ However, if required, it may be available up to a maximum of one week before the surgery, on the recommendation of a government registered medical practitioner or doctor.

What can a living person donate?

Any living donor can donate a kidney, a portion of the pancreas, and a portion of the liver.

What is the National Organ and Tissue Transplant Organization?

Actually, the National Organ and Tissue Transplant Organization is a national level organization of India. It comes under the Directorate General of Health Services of the Ministry of Health and Family Welfare. The National Organ and Tissue Transplant Organization regulates activities related to organ donation and transplantation. It coordinates the procurement and distribution of organs and tissues and maintains a registry for organ and tissue donation and transplantation.

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Rule 54 of the Central Civil Services is a social welfare scheme, under which the spouse, parents, children, and disabled siblings of a government employee get pension on his death.

Members eligible to receive pension:

The following persons are eligible for family pension under Rule 54 of the Pension Act:

1. Spouse (husband or wife) of the deceased employee
2. parents of the deceased
3. Children
4. Siblings with disabilities

What is the eligibility of the daughter:

The daughter of a deceased employee is entitled to family pension under certain circumstances:

• An unmarried daughter remains eligible for pension until she gets married or starts earning on her own.
• A widowed or divorced daughter may be eligible to receive family pension for life, provided the employee has mentioned her name in Nomination Form 4.
• A disabled daughter can get family pension for life or for 25 years.

Other special rules:

1. If both parents were government servants, the daughter is eligible to receive two pensions, but the amount should not exceed ₹1,25,000 per month.
2. In case of twin sisters the pension amount is divided equally.
3. An unmarried daughter being the eldest child is entitled to family pension in the absence of her parents.
4. If the deceased employee has not nominated his/her adopted daughter, he/she may be denied family pension.

As per the government rules, this family pension is not only a source of financial help but also an important support for the families whose dependent member has died an untimely death.

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Yes, the Finance Ministry has given its decision on the interest rate of General Provident Fund (General PF) for the October-December quarter of the financial year 2024. The interest rate of GPF has been kept unchanged at 7.1 percent by the Finance Ministry. That means, this quarter too, interest will be paid on GPF at the old rate of 7.1 percent. This interest rate will be effective from 1 October 2023 to 31 December 2023.

Only government employees can invest

Let us tell you that GPF is a social security scheme available for central employees. Government employees can become its members by contributing a fixed portion of their salary. Only government employees can invest in GPF account. There is no contribution of any kind in this from the government. The government gives only interest on this. However, this investment should not be less than 6% of the employee’s salary.

Exemption to taxpayers under Section 80C,

the maximum contribution in this can be up to 100% of the employee’s salary. The maturity of the investment made in this occurs at the time of retirement. Employees can also take loan against GPF.

In this tax saving scheme, taxpayers get exemption under Section 80C. On the other hand, the government has not changed the interest rate of PPF for the October to December quarter. This also remains at the old level of 7.1 percent.

Recently, the government had changed the interest rate of 5 year RD scheme in small saving schemes for the October quarter. The Finance Ministry had increased its interest rate from 6.5 percent to 6.7 percent. There was no change in the interest rates available on other small savings schemes including PPF.

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Yes, the people working under the central government are going to get big benefits soon. There is going to be a big jump in his salary. In one stroke, the salary of the employees is going to increase by Rs 9000 per month.

This change will be under a rule of the Central Government. Let us tell you that when this rule made in 2016 is implemented, there will be a huge jump in the salary of central employees.

Now getting 42 percent dearness allowance

This change will happen after the rise in DA Hike. Actually, under the rule of the Seventh Pay Commission, the DA of central employees is increased every six months. At present, central government employees are getting 42 percent dearness allowance. Now in the DA applicable from July 1, it can increase to 46 percent.

After this, on January 1, 2024, dearness allowance will be increased by the government. This time it can increase to 50 percent. Here only the rule of the government will apply.

DA will be made zero when it is 50 percent

Actually, under the Seventh Pay Commission, a provision has been made that it will be made zero when the DA of the employee is 50 percent. Also, 50 percent of the DA will be added to the basic pay.

Now if someone has a basic salary of Rs 18,000, then after getting DA, it will increase to Rs 27,000. In this way, there will be a benefit of Rs 9000 every month in the basic salary. Earlier in 2016 something similar had happened. At that time, while implementing the 7th pay commission, dearness allowance was added to the basic salary of the employees.

How much will be the basic salary?

If the basic salary of an employee is currently Rs.18,000 and his dearness allowance increases to Rs.9000, then the basic salary will increase to Rs.27000 if both are combined. After that it will start back at one percent or 2 percent. Employees will have to wait for salary revision now. Earlier the dearness allowance used to be more than 100 percent.

Salary will increase by Rs 108000.

At present, the lowest basic salary at Pay-Bad Level-1 is Rs 18000. Calculating 42 percent on this, then the dearness allowance is Rs.7560. But according to 50 percent it will be Rs.9000. As per rules, if there is 50 percent dearness allowance, it will be merged with the basic salary. Accordingly, the basic of 18000 people will increase to Rs 27000. If we look at Rs 9000 a month annually, then the employees will get a benefit of Rs 108000.

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There is good news for the government employees and pensioners of Himachal Pradesh. The old pension scheme has come into force in the state from April 1, 2023, and a final decision can be taken on the issue of SOP on Wednesday. Its benefit will be given to 1.36 lakh employees-pensioners of the state. It is believed that after the municipal elections, the final notification regarding the restoration of old pension will be issued.

Actually, today on Wednesday, a cabinet meeting has been called under the chairmanship of CM Sukhwinder Singh Sukhu. It is expected that in this meeting, the SOP to be issued regarding the restoration of the Old Pension Scheme (OPS) may be approved.

There can also be a discussion on making a policy to fill the posts of teachers. Apart from this, many other agendas including filling of vacancies in various departments, water cess can also be approved in the meeting. Many budget announcements can also be approved in the cabinet meeting.

NPS deduction stopped, increased salary reached in the accounts of employees

After the implementation of OPS in the state from April, the deduction on the share of NPS has also been stopped. This time, the share of NPS has not been deducted from the salary of any government employee for the month of April, but the employees have started getting increased salary, that is, the share of NPS of any employee is deposited in PFRDA, an agency of the Government of India. Not sent to.

Since till now the NPS share was being deducted from the salary of the employees after the year 2003 in the state, 10% salary was being deducted from their salary every month and the state government was also contributing 14% of its share. In this way, 24 percent of the total contribution was being deposited with the PFRDA of the Central Government.

GPF account opening process will start soon

After the closure of NPS share deduction, now the process of opening GPF accounts of the employees is likely to start soon. The notification of SOP is also likely to be issued after the cabinet meeting to be held today.

It is estimated that the SOP for restoration of old pension will be issued in May and options will be asked from the employees to choose one of the two pensions. The decision will benefit both serving and retired employees and employees with 20 years or more service will get 50 per cent of basic pay plus DA as pension.

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In view of the demand of the employees, the old pension has been restored by some Congress ruled states. Last days, from April 1, a notification was issued to restore the old pension for the employees of the Himachal Pradesh government. Now the new salary of the state government employees has come in the account of the employees in May.

Employees got increased salary

The share of the New Pension Scheme (NPS) has not been deducted from the April salary given by the Himachal government in May. On the 1st of May, the employees got the increased salary. Till now, 10 percent of the salary was deducted from the salary of the employees towards NPS. Apart from this, 14 percent share is done in this item by the government. But the government has not deducted 10 percent money from the salary of the employees from the April salary and they have received it as salary.

Money was not sent to PFRDA for deposit, action was taken on behalf of the Himachal government as per the pre-determined system. That is, from April 1, 2023, the NPS share of any employee was not sent to the central government agency PFRDA for deposit. However, such employees who have not completed 10 years of service will not get the benefit of Old Pension Scheme (OPS). The situation regarding such employees is not yet clear. The money of NPS of these employees has also not been deducted from their salary.

NPS share was not deducted

In such a situation, the question is arising that when NPS share is not deducted from the share of the employees, then what will happen to their future? Depositing money in GPF for OPS has also not started. Let us tell you that before the Government of Himachal Pradesh, the old pension has been restored by the Government of Chhattisgarh, Rajasthan, Punjab and Jharkhand. Some BJP-ruled states are also considering implementing the old pension in view of the elections.

What is the old pension scheme?

In this scheme, at the time of retirement, half of the salary is given to the employee as pension. The provision of General Provident Fund (GPF) has been given under the old pension scheme. In this scheme, the employee has the facility of getting gratuity of up to Rs 20 lakh. DA is increased after every six months. Under this scheme, the amount of pension is paid from the treasury of the government. On the death of a retired employee, his family members get the amount of pension as per rules. In this scheme, no amount is deducted from the salary of the employee.

What is New Pension Scheme?

The new pension scheme deducts 10 percent of the basic salary and DA. The National Pension Scheme (NPS) is completely based on the movement of the stock market. In this, to get pension after 60 years, 40 percent of the NPS fund has to be invested. That is, you get pension out of 60 percent money. There is no guarantee of pension after retirement in this scheme. Nor is there any facility for the relatives. There is no provision for increasing DA in this.

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The central employee will now be able to get 42 days Special Casual Leave after donating the organ. In the Official Memorandum (OM) issued by DoPT, it was told that if any part of the body is donated on behalf of an employee, then it is a major surgery. For this, along with hospitalization, recovery also takes time.

30 days limit increased to 25 days

For the purpose of helping a human being and promoting organ donation among central employees, any employee should be given special leave of maximum 42 days. Rules have also been fixed for this. Under the existing rules, a maximum of 30 days of leave is sanctioned as casual leave in a calendar year. The new rule has come into effect from April 25, 2023.

The rule will not apply to all employees

In the memorandum issued by DoPT, it has been said that this order will not apply to all employees under the CCS (Leave) rule. This rule is being implemented on selected employees. It is being told that the new rule related to holidays, the new holiday policy will not be applicable for railway employees, employees of All India Services.

In the notification issued by the government, it was told that the maximum limit of leave for surgery to remove the donor’s organ and after that for recovery will be 42 days. For this, holidays will be given on the basis of the recommendation of the registered doctor by the government. This type of leave can be availed from one week before the hospitalization.

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Being a member of EPFO ​​means that your PF is deducted every month. An alert has been issued by the Employees’ Provident Fund Organization (EPFO) for the employees whose PF is deducted. This alert has been issued in the last few days after many frauds in the name of EPFO ​​came to the fore.

EPFO does not ask for personal information

Such alerts have been issued by EPFO ​​in the past as well, but in the last few days the cases of fraud have increased rapidly. It was told by tweeting on behalf of EPFO ​​that EPFO ​​never asks for personal information like PAN, Aadhaar, UAN, bank account and OPT from its members through phone, social media, WhatsApp etc.

Do not answer calls or WhatsApp calls

EPFO ​​warned that EPFO ​​never asks to deposit any kind of money through social media, WhatsApp etc. for information related to any service or for anything else. In such a situation, all the members are advised not to answer any such call or WhatsApp call.

Employer’s share is deposited in two parts

12 percent of the basic salary and dearness allowance of EPFO ​​members is deposited in the EPFO ​​account. Similarly, 12 percent of the basic salary has to be paid by the employer. There are two parts in this 12 percent. Out of 12 percent, the first part of 8.33 percent goes to Employee Pension Account (EPS) and the remaining 3.67 percent amount goes to EPF account. There is a provision for the employee to get this amount on retirement. But you can remove it if needed even during the job.

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According to the 7th Pay Commission, there is going to be a bumper increase in the salary of central employees in the new year. The employees are going to get not one but three bumper gifts from the government. On the basis of these three, there will be a tremendous hike in the salary of the employees. The dearness allowance of government employees is increased every year in January and July.

Increase in dearness allowance A 4 percent increase in dearness allowance for July 2022 has been announced by the government in September. After this, dearness allowance is expected to increase by 4 percent in January 2023. On this, if the dearness allowance is increased by 4 percent, it will increase to 42 percent. Experts say that before the 2024 elections, the government is considering giving more gifts to the employees. Apart from the announcement on the fitment factor by the government, the restoration of the old pension scheme can also be announced.

Fitment factor The fitment factor of central employees can be increased from 2.57 to 3.68 by the Modi government. If this happens, there will be a bumper increase in the salary of government employees. About 52 lakh central employees have been demanding an increase in the fitment factor for the past several months. At present, the minimum salary of the employees is Rs 18,000. After the decision on the fitment factor, it will increase to Rs 26,000. Till now no official statement has come on this.

Restoration of the old pension scheme

Keeping in mind the Lok Sabha elections 2024, an announcement can be made by the central government to restore the old pension scheme. If this happens then the long standing demand of the employees will be fulfilled. Many state governments including Punjab have restored the old pension scheme.

Let us tell you that this scheme of the government was discontinued from April 1, 2004. As per the new scheme, employees contribute 10 per cent of their basic salary to the pension, while the state government contributes 14 per cent.

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The Finance Department has issued an order for the 5th installment of the arrears of the 7th pay scale by the state government. Let us know the complete information about it.

There is good news for the government employees of Chhattisgarh. The Bhupesh Baghel government of the state has given a big gift to the employees before Diwali. The Finance Department has issued an order for the 5th installment of the arrears of the 7th pay scale by the state government.

Soon the outstanding amount will be released in the account of the employees. The release of the 5th installment before Diwali will give a big relief to the employees.

In fact, from January 1, 2016 to June 30, 2017, the arrears of salary for 18 months were to be paid in 6 equal annual installments. Earlier, an order for payment of the fourth installment was issued on December 1, 2021.

Now before Diwali, the state government has issued an order regarding the payment of the 5th installment of the 7th pay scale arrears. Salary from January 2017 to March 2017 will be paid as the fifth installment. The state government will pay the arrears in 6 installments.

Let us inform that Chhattisgarh State Employees Officers Federation was continuously taking initiative regarding the arrears of the seventh pay scale. Kamal Verma, convenor of Employees Officers Federation, had also corresponded with the state government in this regard, after which the employees are now being paid the fifth installment of arrears amount before Diwali.

Dearness allowance may increase again

Chhattisgarh’s 3.80 lakh government employees can get another big gift before Diwali. An important cabinet meeting is to be held under the chairmanship of Chief Minister Bhupesh Baghel on October 17, there is a possibility that the dearness allowance may once again increase by 3 to 6 percent in this meeting.

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