Tag: Public Sector
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Difference between Regular NPS and NPS for Government Employees
The National Pension System (NPS) is a voluntary, long-term retirement savings scheme in India, but there are key differences between the regular NPS and the NPS specifically for government employees: 1. Mandatory Participation 2. Contribution Rates 3. Investment Choices 4. Gratuity and Other Benefits 5. Withdrawal Rules 6. Regulatory Framework 7. OM References and Benefits…
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NPS for Government Employees: A Comprehensive Overview
The National Pension System (NPS) is a contributory pension scheme designed to provide retirement benefits to employees in India. Under this system, contributions from subscribers, along with matching contributions from the government as the employer, are collected and accumulated in individual pension accounts. Key Features of NPS for Government Employees NPS employs a structured approach…
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Tamil Nadu Government Hikes 3% DA for State Employees from July 2024
The Tamil Nadu government has announced a significant increase in the Dearness Allowance (DA) for state government employees and pensioners, effective from July 1, 2024. This 3% hike, raising the DA from 50% to 53%, comes as part of the government’s efforts to mitigate the impact of inflation and the rising cost of living. Key…