Tag: India
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The 8th Central Pay Commission: Key Developments and Expectations
On January 16, 2025, the Union Cabinet approved the formation of the 8th Central Pay Commission for central government employees in India. This commission will play a crucial role in revising the salaries, allowances, and pension structures for government employees and pensioners. Its recommendations are expected to be implemented by January 1, 2026. The approval…
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Understanding the Public Provident Fund (PPF) and Its Calculator
The Public Provident Fund (PPF) is a long-term investment scheme established by the Government of India in 1968. Designed to encourage savings among the general public, the PPF offers individuals an opportunity to build a secure financial future through a government-backed savings instrument. Key Features of the PPF Scheme Benefits of the PPF PPF Calculator:…
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NPS Benefits for Central Government Employees upon Resignation: DOPPW O.M 07.10.2024
On October 7, 2024, the Department of Pension and Pensioners’ Welfare (DOPPW) issued an Office Memorandum highlighting the entitlements for Central Government employees covered under the National Pension System (NPS) upon their resignation. This memorandum, referenced as No. 57/03/2022-P&PW(B)/8361 (3), is set to govern the service-related matters under the NPS framework. Key Highlights 1. Rule…