CHANDIGARH, JULY 18
The Haryana Government has enhanced the present eligibility limit of pay and admissibility to its employees for the purpose of grant of all types of advances such as house building, marriage, vehicle and computer advance.
While stating this here today, a spokesman of the Finance Department said that in case of House Building Advance, only one advance would be sanctioned up to Rs. 25 lakh to the Government employee in his or her entire service. The House Building Advance will be given to only one person either husband or wife. He said that 34 months basic pay, in any pay matrix, subject to a maximum ceiling of Rs. 25 lakh, whichever is less, would be allowed for construction of house or purchase of built up house allotted by the government agencies or any other registered society or through private source. He said that for purchase of plot, 60 per cent of the total admissibility of House Building Advance, that is, 20 months basic pay, in any pay matrix, subject to maximum of Rs. 15 lakh would be allowed. Thereafter, remaining admissible amount subject to the maximum of Rs. 10 Iakh can be granted for construction of house on the same plot.
The spokesman said that for extension of house, 10 months basic pay, in any pay matrix, subject to a maximum ceiling of Rs. five lakh would be granted. Advance for the extension of house, in cases where any House Building Advance has not been obtained from Government earlier, may be allowed after the expiry of three years from the date of purchase of house or taking possession thereof, whichever is later. In the case of employees, who had taken a House Building Advance earlier from the Government, this advance may be allowed after five years of the start of the drawal of the earlier advance. Similarly for repair of House, 10 months basic pay, in any pay matrix, subject to a ceiling of Rs. five lakh would be granted. Advance for the repair of house, in cases where any House Building Advance has not been obtained from Government earlier, may be allowed after the expiry of five years from the date of purchase of house or taking possession thereof, whichever is later. In case of employees, who had taken a House Building Advance earlier from the Government this advance may be allowed after seven years of the start of the drawal of the earlier advance. He said that second House Building Advance will not be allowed.
He said that in case of Marriage Loan, 10 months basic Pay, in any pay matrix, subject to a ceiling of Rs. three lakh, whichever is less, would be granted for the marriage of their sons, daughters or dependent sisters and marriage of the employee concerned. This loan is available for two times only in entire service. The rate of interest would be equal to that of GPF. The second advance will be available at the same rate of interest prescribed for first marriage advance by the State Government, he added.
In case of car loan, government employees drawing revised pay of Rs. 45,000 above, in any pay matrix would be eligible for this advance. He said that 15 months basic pay subject to a maximum ceiling of Rs. 6.50 lakh or 85 per cent of the actual price of the Motor Car, whichever is less, would be given. Rate of interest would be equal to that of GPF on first loan and two per cent excess if drawn 2nd time and four per cent excess if drawn 3rd time. The 2nd and 3rd loan will be granted only after issuance of the NDC of previous loan. Similarly in case of motorcycle or scooter loan, the advance would be availed only for purchasing a new motor cycle or scooter. He said that Rs. 50,000 would be given for motor cycle and Rs. 40,000 for scooter or actual price of the vehicle, whichever is less. Rate of interest would be equal to that of GPF on first loan and two per cent excess if drawn 2nd time and four per cent excess if drawn 3rd time. The 2nd and 3rd loan will be granted only after issuance of the NDC of previous loan. The moped loan has been abolished, he added.
The spokesman said that in case of cycle loan, the advance would be availed only for purchasing of a new bicycle. He said that Rs. 4,000 or actual price of bi-cycle, whichever is less, would be given. Rate of interest would be equal to that of GPF. The second and third advance will be available at the same rate of interest prescribed for first bicycle advance by the State Government.
In case of computer loan, Rs. 50,000 or actual price of computer or laptop, whichever is less, would be given. The 2nd and 3rd loan will be granted only after issuance of the NDC of Previous loan. Rate of interest would be equal to that of GPF on all advances.
He said that DDO may ensure that the total EMI of all advances taken by the employee should not be more than 1/3 of the total carry home salary. Property of the employee would be mortgaged only up to the value of the loan. All other existing terms and conditions of each advance as laid down by the Finance Department rules or instructions issued from time to time would remain unchanged. These instructions would be applicable with immediate effect, he added.
He said that copy of these instructions can be downloaded from the Department’s website www.finhry.gov.in.
===balbirsingh
The Haryana Government has enhanced the present eligibility limit of pay and admissibility to its employees for the purpose of grant of all types of advances such as house building, marriage, vehicle and computer advance.
While stating this here today, a spokesman of the Finance Department said that in case of House Building Advance, only one advance would be sanctioned up to Rs. 25 lakh to the Government employee in his or her entire service. The House Building Advance will be given to only one person either husband or wife. He said that 34 months basic pay, in any pay matrix, subject to a maximum ceiling of Rs. 25 lakh, whichever is less, would be allowed for construction of house or purchase of built up house allotted by the government agencies or any other registered society or through private source. He said that for purchase of plot, 60 per cent of the total admissibility of House Building Advance, that is, 20 months basic pay, in any pay matrix, subject to maximum of Rs. 15 lakh would be allowed. Thereafter, remaining admissible amount subject to the maximum of Rs. 10 Iakh can be granted for construction of house on the same plot.
The spokesman said that for extension of house, 10 months basic pay, in any pay matrix, subject to a maximum ceiling of Rs. five lakh would be granted. Advance for the extension of house, in cases where any House Building Advance has not been obtained from Government earlier, may be allowed after the expiry of three years from the date of purchase of house or taking possession thereof, whichever is later. In the case of employees, who had taken a House Building Advance earlier from the Government, this advance may be allowed after five years of the start of the drawal of the earlier advance. Similarly for repair of House, 10 months basic pay, in any pay matrix, subject to a ceiling of Rs. five lakh would be granted. Advance for the repair of house, in cases where any House Building Advance has not been obtained from Government earlier, may be allowed after the expiry of five years from the date of purchase of house or taking possession thereof, whichever is later. In case of employees, who had taken a House Building Advance earlier from the Government this advance may be allowed after seven years of the start of the drawal of the earlier advance. He said that second House Building Advance will not be allowed.
He said that in case of Marriage Loan, 10 months basic Pay, in any pay matrix, subject to a ceiling of Rs. three lakh, whichever is less, would be granted for the marriage of their sons, daughters or dependent sisters and marriage of the employee concerned. This loan is available for two times only in entire service. The rate of interest would be equal to that of GPF. The second advance will be available at the same rate of interest prescribed for first marriage advance by the State Government, he added.
In case of car loan, government employees drawing revised pay of Rs. 45,000 above, in any pay matrix would be eligible for this advance. He said that 15 months basic pay subject to a maximum ceiling of Rs. 6.50 lakh or 85 per cent of the actual price of the Motor Car, whichever is less, would be given. Rate of interest would be equal to that of GPF on first loan and two per cent excess if drawn 2nd time and four per cent excess if drawn 3rd time. The 2nd and 3rd loan will be granted only after issuance of the NDC of previous loan. Similarly in case of motorcycle or scooter loan, the advance would be availed only for purchasing a new motor cycle or scooter. He said that Rs. 50,000 would be given for motor cycle and Rs. 40,000 for scooter or actual price of the vehicle, whichever is less. Rate of interest would be equal to that of GPF on first loan and two per cent excess if drawn 2nd time and four per cent excess if drawn 3rd time. The 2nd and 3rd loan will be granted only after issuance of the NDC of previous loan. The moped loan has been abolished, he added.
The spokesman said that in case of cycle loan, the advance would be availed only for purchasing of a new bicycle. He said that Rs. 4,000 or actual price of bi-cycle, whichever is less, would be given. Rate of interest would be equal to that of GPF. The second and third advance will be available at the same rate of interest prescribed for first bicycle advance by the State Government.
In case of computer loan, Rs. 50,000 or actual price of computer or laptop, whichever is less, would be given. The 2nd and 3rd loan will be granted only after issuance of the NDC of Previous loan. Rate of interest would be equal to that of GPF on all advances.
He said that DDO may ensure that the total EMI of all advances taken by the employee should not be more than 1/3 of the total carry home salary. Property of the employee would be mortgaged only up to the value of the loan. All other existing terms and conditions of each advance as laid down by the Finance Department rules or instructions issued from time to time would remain unchanged. These instructions would be applicable with immediate effect, he added.
He said that copy of these instructions can be downloaded from the Department’s website www.finhry.gov.in.
===balbirsingh
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