If an employee chooses to dwell within 20 kilometres or at the final station, the government formerly granted one-third of the CTG. There is no longer a restriction on the amount of money that may be earned.
As of now, the CTG (Composite Transfer Grant) is no longer limited to workers who retire within a 20-kilometer radius of their previous place of employment. Thousands of central government workers are anticipated to profit from the news.
Previously, the government provided a third of the CTG to employees who chose to remain within a radius of 20 kilometres of their place of employment or at the previous station. Employees will be entitled to full CTG under the new regulation, regardless of where they were last posted. This month’s CTG is equal to 80% of last month’s basic salary. For the regulation to take effect, the employee must move. Employees who relocate within 20 kilometres of the company’s headquarters will get full compensation for CTG.
“It has been decided that for the purpose of Composite Transfer Grant in roo Central Government employee who wishes to settle down at the last station of duty or other than the last station of duty after retirement, the condition of 20 km. from the last station of duty is done away with, subject to the condition that change of residence is actually involved…
It is possible to get a full CTG after retirement, at the rate of 80 percent of the final month’s basic wage,” according to this proposal.
In What Ways Can You Get Paid Using CTG?
Employees who are about to retire will receive a one-time payment from the federal government called the CTG. 100% of basic pay for previous month’s salary is granted as CTG in the Andaman and Nicobar Islands and Lakshadweep Islands.
Self-declaration certificate of relocation is required for the employee to get the benefit. FinMin has already settled on the certificate’s format.