New And Exciting Changes In The Employee Salary System

The Rajasthan government has made an announcement about advance salaries for the employees. The government made this crucial choice after increasing the dearness allowance and promoting the workers.

This new system will come into action from June 1. Before Rajasthan, no other state in the country paid advance salaries to government employees. Rajasthan is the first state in India to implement the new method. Under this system, state employees will be allowed to receive half of their salaries in advance.

The highest amount allowed under this new salary system is Rs 20,000. The financing Department has partnered with non-banking financing companies to provide this benefit to government workers, and in the near future, another agreement will be reached with more banks and financial organizations.

The salary will be withdrawn from the employee’s pay for the current month if they opt to withdraw it before the 21st day of any given month. Additionally, no interest will be deducted from employees’ advance salaries, but fees will be assessed on transactions with lenders.

Also Read: 5 Most Genuine Ways to Save Money From Salary

How To Receive The Advance Salary?

Employees of the Rajasthan Government who wish to get some advance salary in the Advance Salary Scheme must register with IFMS 3.0 using their SSO ID. The financial institutions will need to receive permission at the same time. Employees of the Rajasthan Government may also submit their online undertaking by visiting the websites of their financial service providers. The workers must then go back to the IFMS website and provide their approval using a Time Password (OTP).

Also Read: Why You Should Plan For A Salary After Retirement?

Stuti Talwar

Expressing my thoughts through my words. While curating any post, blog, or article I'm committed to various details like spelling, grammar, and sentence formation. I always conduct deep research and am adaptable to all niches. Open-minded, ambitious, and have an understanding of various content pillars. Grasp and learn things quickly.

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