What is current DA in Himachal Pradesh?
Himachal Pradesh Dearness Allowance (DA Rates) Table
|Period from||Increased DA||Total DA|
What is the retirement age of HP govt employees?
HP govt reduces age limit for pension to 60 yrs, increases amount to ₹1,500. SHIMLA : Himachal Pradesh Chief Minister Jai Ram Thakur on Friday announced the state’s budget for the financial year 2022-23.
What is gratuity for HP govt employees?
6.1 The maximum limit of all kinds of gratuity shall be Rs. 10 lakh. Accordingly, first proviso under Rules 50(1) (b) of Pension Rules shall stand modified to the effect that the amount of retirement gratuity or death gratuity payable under this Rule shall in no case exceed Rs. 10 lakh.
What is new pension scheme in Himachal Pradesh?
What is the new pension scheme? The old pension scheme, under which the entire pension amount was given by the government, was discontinued in the country from April 1, 2004. According to the new scheme, employees contribute 10% of their salary towards pension while the State government contributes 14%.
What is the DA rate from January 2022?
34 per cent
Due to these two hikes, from July 1, 2021 itself, all Government employees had started receiving DA at the rate of 31 per cent. After that on January 1, 2022 also, a three per cent hike in DA was announced, after which Government employees have been receiving DA at 34 per cent rate.
What is DA rate from Jan 2016?
2016. Since, Dearness Allowance to the extent of 125% merged with Basic Pay on implementation of 7th Pay Commission recommendations, DA from 1st January 2016 is made as zero and DA with effect from July 2016 is calculated as follows.
How much is widow pension in HP?
This scheme has been started for women of all classes of the state. Himachal Pradesh Widow Pension Yojana Earlier, women were given Rs 850 per month but now this amount has been increased to Rs 1000 per month.
Who is eligible for old-age pension in Himachal Pradesh?
60 years or more
Eligibility. The applicant should be a permanent resident of Himachal Pradesh. The age of the applicant should be 60 years or more. Recommendation from the concerned Gram Panchayat.
How is 2022 gratuity calculated?
The formula is: (15 * Your last drawn salary * the working tenure) / 30. For example, you have a basic salary of Rs 30,000. You have rendered continuous service of 7 years and the employer is not covered under the Gratuity Act. Gratuity Amount = (15 * 30,000 * 7) / 30 = Rs 1,05,000.
How many years of service is required for full pension?
A Central Government servant retiring in accordance with the Pension Rules is entitled to receive pension on completion of at least 10 years of qualifying service.
Who will get pension after 2004?
Persons who joined State and Central Government jobs after 2004 may get Family Pension as recommended by the 7th Pay Commission. It is expected to be applicable from the beginning of 2016. However, employees who joined post 2004 gets family pension.
When did new pension scheme start?
A New Pension Scheme (Contribution based Pension Scheme) now called National Pension System (NPS), was introduced for Central Government employees vide Ministry of Finance (Department of Economic Affairs) Notification No. 5/7/2003- ECB & PR dated 22nd December, 2003.
Is DA hike in July 2022?
DA: 7th Pay Commission: DA hiked by 4% from July 1, 2022 for central govt employees; notification issued – The Economic Times.
What is expected DA July 2022?
It is now confirmed what they will be getting as their Dearness allowance from 1 July 2022. According to the people in the know, the DA hike is expected to be 4 per cent and an announcement on this is also to likely come soon.
What is the DA rate from July 2015?
1/2/2015-E-II (B) dated 10th April, 2015 on the subject mentioned above and to say that the President is pleased to decide that the Dearness Allowance payable to Central Government employees shall be enhanced from the existing rate of 113% to 119% with effect from 1st July, 2015.
What is the DA from July 2017?
DA (Dearness Allowance) Calculation Based on AICPIN
|Month & Year||AICPIN (B.Y. 2001 = 100)||Govt. Orders|
|July 2016||DA OM|
|January 2017||DA OM|
Does widow get old age pension?
Indira Gandhi National Widow Pension Scheme (IGNWPS), introduced in the year 2009,provides BPL (Below Poverty Line) widows in the age group 40 to 59 (Non- Resident ofAndaman can’t apply this service).
How do I apply for widow pension HP?
Documents Required for HP Vidhwa Pension Yojana
- Widow Pension Application Form Himachal Pradesh.
- Aadhar Card.
- Bank account.
- income certificate.
- Family copy.
- Family copy.
- age certificate.
- Husband’s death certificate.
Does pension increase after 70 years?
The Committee is of the view that the Government should sympathetically consider the demand of Pensioners’ Associations for 5% additional quantum of Pension on attaining the age of 65 years, 10% on 70 years, 15% on 75 years and 20% on 80 years to the Pensioners.
How much is Budhapa pension in Himachal Pradesh?
The government will give Rs 750 per month to people aged 60 to 69 years and Rs 1300 per month to people above 70 years of age as pension.
What is new gratuity rules?
As per the gratuity new rules 2022, the law restricts the maximum basic pay to 50% of CTC which will increase the gratuity bonus that is to be paid to employees and the gratuity amount will be calculated on a large salary base that comprises basic pay and allowances.
Is 4.8 years eligible for gratuity?
As per the judgment of the Supreme Court an employee is eligible for gratuity if he has completed 4 years of continuous service and 240 days continuous working in 5th year. On the day when he completes his 240 days in the 5th year he will be eligible for gratuity.
What is the highest pension in India?
There is no minimum limit for the amount of gratuity. The retirement gratuity payable for qualifying service of 33 years or more is 16½ times the Basic Pay plus DA, subject to a maximum of Rs. 20 lakhs.
Who is eligible for new pension scheme?
The employees of the corporate entity, enrolled by the employer having Indian Citizenship between the age of 18-60 years and complying with the KYC norms, are eligible to be registered as subscribers under NPS.
Which is better old pension or new pension scheme?
Thus, NPS offers higher returns than other pension schemes. 60% of the corpus on maturity is tax-free, while the remaining 40% is taxable and must be invested in annuities. On the other hand, Old Pension Scheme (OPS) offers a monthly pension to government employees based on the last drawn salary.