Close Menu
    Facebook X (Twitter) Instagram
    • Our Story
    • Partner with us
    • Reach Us
    • Career
    Subscribe Newsletter
    HR KathaHR Katha
    • Exclusive
      • Exclusive Features
      • Research
      • Point Of View
      • Case In Point
      • Dialogue
      • Movement
      • Profile
      • Beyond Work
      • Rising Star
      • By Invitation
    • News
      • Global HR News
      • Compensation & Benefits
      • Diversity
      • Events
      • Gen Y
      • Hiring & Firing
      • HR & Labour Laws
      • Learning & Development
      • Merger & Acquisition
      • Performance Management & Productivity
      • Talent Management
      • Tools & Technology
      • Work-Life Balance
    • Special
      • Cover Story
      • Editorial
      • HR Forecast 2024
      • HR Forecast 2023
      • HR Forecast 2022
      • HR Forecast 2021
      • HR Forecast 2020
      • HR Forecast 2019
      • New Age Learning
      • Coaching and Training
      • Learn-Engage-Transform
    • Magazine
    • Reports
      • Whitepaper
        • HR Forecast 2024 e-mag
        • Future-proofing Manufacturing Through Digital Transformation
        • Employee Healthcare & Wellness Benefits: A Guide for Indian MSMEs
        • Build a Future Ready Organisation For The Road Ahead
        • Employee Experience Strategy
        • HRKatha 2019 Forecast
        • Decoding and Driving Employee Engagement
        • One Platform, Infinite Possibilities
      • Survey Reports
        • Happiness at Work
        • Upskilling for Jobs of the Future
        • The Labour Code 2020
    • Conferences
      • HRKatha Futurecast
      • Automation.NXT
      • The Great HR Debate
    • HR Jobs
    WhatsApp LinkedIn X (Twitter) Facebook Instagram
    HR KathaHR Katha
    Home»News»Rajasthan government introduces advance salary privilege, sets precedent in India
    News

    Rajasthan government introduces advance salary privilege, sets precedent in India

    HRK News BureauBy HRK News BureauJune 2, 2023Updated:June 2, 20232 Mins Read14328 Views
    Share LinkedIn Twitter Facebook
    Share
    LinkedIn Twitter Facebook

    The Rajasthan government has launched earned salary advance drawal scheme, allowing state government employees to access their salaries in advance. Rajasthan has become the first state in India to implement this progressive initiative, effective from June 1. The scheme, administered through the integrated financial management system (IFMS) 3.0, provides employees with access to various financial institutions and service providers.

    Under the new scheme, state employees can request multiple advances within a month, up to a maximum of 50 per cent of their net monthly salary. Notably, these advances are interest-free, offering significant financial relief to employees. If an employee opts for an advance salary before the 21st of the month, the corresponding amount will be deducted from their subsequent salary, ensuring a streamlined recovery process.

    To avail themselves of this privilege, state government employees must log in to IFMS 3.0 using their SSO ID and submit their consent and undertaking through the employee self service portal. Alternatively, they can directly visit the online portal of their chosen financial service provider to complete the necessary formalities. Employees must then provide their consent through a secure OTP-based mechanism on the IFMS website. This simplified process enables convenient authoriszation and utilisation of the advance salary facility.

    The unique aspect of this scheme is that employees are not required to pay interest on the advanced salary. Only transaction fees will be recovered by the lenders. This initiative is expected to greatly benefit small employees, as it eliminates their need to rely on high-interest loans to meet their financial needs.

    This development follows the reinstatement of the old pension scheme (OPS) last year, addressing the requests of government employees. By replacing the new pension scheme with OPS, the state government further enhances the financial relief and security provided to its employees.

    With this progressive measure, Rajasthan sets a precedent for employee welfare, emphasising financial well-being and flexibility. 

    It is anticipated that other states in India may follow suit, recognising the importance of prioritising the financial needs of their workforce. This initiative stands as a significant step towards empowering government employees and improving their overall quality of life.

    advance salary withdrawal Employee Benefits Rajasthan government
    Share. LinkedIn Twitter Facebook
    HRK News Bureau

    Leave A Reply Cancel Reply

    2 × 5 =

    Related Posts

    Hiring gains momentum in March with 7.54 lakh new EPF subscribers

    May 22, 2025

    IBM rehires after AI-driven layoffs backfire; sparks debate on automation limits

    May 22, 2025

    How language sensitivities are shaping workplace culture in India

    May 22, 2025

    Westpac gears up for major rehaul & 1500 job cuts

    May 22, 2025

    QUICK HR INSIGHTS

    EDITOR'S PICKS

    How language sensitivities are shaping workplace culture in India

    May 22, 2025

    The culture that’s quietly killing us

    May 21, 2025

    How ‘snowplow managers’ can stunt your growth

    May 21, 2025

    Three transformative HR roles of the future

    May 20, 2025
    Latest Post

    Hiring gains momentum in March with 7.54 lakh new EPF subscribers

    News May 22, 2025

    India’s formal employment sector showed signs of recovery in March 2025, breaking a three-month decline…

    IBM rehires after AI-driven layoffs backfire; sparks debate on automation limits

    News May 22, 2025

    IBM’s aggressive push to automate HR functions through artificial intelligence (AI) has taken an unexpected…

    How language sensitivities are shaping workplace culture in India

    Exclusive Features May 22, 2025

    In India’s bustling and deeply-layered linguistic landscape, where a language isn’t just a means of…

    Westpac gears up for major rehaul & 1500 job cuts

    Global HR News May 22, 2025

    Westpac, the Australian multinational banking and financial services company headquartered in Sydney, is preparing to…

    Asia's No.1 HR Platform

    Facebook X (Twitter) Instagram LinkedIn WhatsApp Bluesky
    • Our Story
    • Partner with us
    • Career
    • Reach Us
    • Exclusive Features
    • Cover Story
    • Editorial
    • Dive into the Future of Work: Download HRForecast 2024 Now!
    © 2025 HRKatha.com
    • Disclaimer
    • Refunds & Cancellation Policy
    • Terms of Service

    Type above and press Enter to search. Press Esc to cancel.