Rajasthan government introduced Earned Salary Advance Scheme which will allow government employees to withdraw their salaries in advance. The scheme which came into force on 1 June allow the employees of the government request multiple advances within a month from their salaries.
The Finance department of the state government announced the scheme on 31 May and it will be administered by the Integrated Financial Management System (IFMS) 3.0. The financial management system provides access to multiple financial institutions and service providers.
The scheme will allow the Rajasthan government employees to withdraw part of their salaries (up to 50%) in advance. If the employees choose to withdraw their salaries before the 21st of any month, then the salary will get deducted from the payout of the current month.
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Moreover, the employees will not be charged any interest on the advance salaries they choose to withdraw. But, the transactional charges will be levied on the concerned transactions by the lenders.
How to avail government salaries in advance?
To avail of the benefits of the Earned Salary Advance Drawal Scheme, the Rajasthan government employees must register themselves with the IFMS 3.0 using their SSO ID. The employees have to also use the Employee Self-Service section to submit their consent and undertaking to their service provider or financial institution.
Alternatively, the Rajasthan government employees can also visit the websites of their financial service provider and submit their undertaking at the online portal. The employees then must return to the IFMS website and submit their consent through a One Time Password (OTP) based procedure.
Notably, the undertaking submitted by an employee to the financial institution will remain valid only till the contract between the lenders and Rajasthan Financial Service Delivery Limited (RFSDL) is valid.
The new scheme came in the backdrop of the restoration of the Old Pension Scheme (OPS) in the state by the Ashok Gehlot-led Congress government of Rajasthan. The state is also scheduled to go to polls in October-November this year.
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