The Indian government has brought up good news for all the central government employees by providing an advance of Rs. 50,000/- for purchasing a personal computer. That means the need for the computer might be anything like for any personal kind of use. All the government employees can be eligible under this policy despite their job roles, grade level etc. Either one can purchase within one time credit or can be paid in monthly installments over a period of 36 months.
In addition to the purchase of computers, the computer advance can also be utilized for acquiring essential accessories like printers, scanners, and UPS, within specified conditions and prescribed limits.The aim behind this initiative is to enhance the digital knowledge among the government employees. Which automatically leads to the upgradation of technology throughout the country.
computer advance for central government employees policy
However, the amendment to rule 21(5) guides the policies on advances claiming to government employees. This amendment seeks to streamline the process of claiming advances and ensure more accessible access to essential technological resources.
The amendment of rule 21(5) comprises with conditions:
Advance facility : Advance for personal computer
Quantum amount : Rs. 50,000/- or the PC available at lower prices
Eligibility : All central and state government employees
Interest rate for computer advance in 2023-24
The government employees must test themselves whether they are eligible for claiming personal advance or not. For that purpose a government employee must satisfy the below conditions.
The interest rate for the advance tends around 9.1%.
The government employees should serve at least for 5 years of service period.
The repayment should be done within 150 months from the time of purchase.
The advance for the computer will be allowed only for 5 times in the entire service period.
An individual can apply for a second advance for a personal computer purchase only after a gap of at least 8 years from the date of availing the earlier advance.
How to apply for personal computer advance
To apply for the advance for purchasing a personal computer, the employee must submit Form GFR 27 as per the prescribed procedure.
A second or subsequent advance for a personal computer purchase is permissible only after a minimum of 8 years from the date of drawing the earlier advance.
Checkout the below document to know about the format that to apply for the personal computer advance.
Here there are few steps to calculate the amount of interest pertains on personal computer advance
Let's calculate the interest on the personal computer advance with a practical example.
Date of advance : 1.1.2008
No. of installments : 150 Months
Rate of interest : 9.1%
Calculation formula
n/2 x (a+1) x r/100 x 1/12
Interest Calculation
150/2 x (30,000) x 9.1/100 x 1/12
Interest Calculation
75 x 30,000 x 0.091 x 0.08333
Interest Calculation
Rs. 17061.81
With 150 installments and a 9.1% interest rate, the interest on the personal computer advance would be approximately Rs. 17,409.38/-. This is how one must calculate the computer advance for central government employees.
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computer advance for central government employees
The Indian government has brought up good news for all the central government employees by providing an advance of Rs. 50,000/- for purchasing a personal computer. That means the need for the computer might be anything like for any personal kind of use. All the government employees can be eligible under this policy despite their job roles, grade level etc. Either one can purchase within one time credit or can be paid in monthly installments over a period of 36 months.
In addition to the purchase of computers, the computer advance can also be utilized for acquiring essential accessories like printers, scanners, and UPS, within specified conditions and prescribed limits.The aim behind this initiative is to enhance the digital knowledge among the government employees. Which automatically leads to the upgradation of technology throughout the country.
computer advance for central government employees policy
However, the amendment to rule 21(5) guides the policies on advances claiming to government employees. This amendment seeks to streamline the process of claiming advances and ensure more accessible access to essential technological resources.
The amendment of rule 21(5) comprises with conditions:
Advance facility : Advance for personal computer
Quantum amount : Rs. 50,000/- or the PC available at lower prices
Eligibility : All central and state government employees
Interest rate for computer advance in 2023-24
The government employees must test themselves whether they are eligible for claiming personal advance or not. For that purpose a government employee must satisfy the below conditions.
How to apply for personal computer advance
Checkout the below document to know about the format that to apply for the personal computer advance.
Click here :- computer advance for central government employees
How to calculate interest on a computer advance
Here there are few steps to calculate the amount of interest pertains on personal computer advance
Let's calculate the interest on the personal computer advance with a practical example.
Date of advance : 1.1.2008
No. of installments : 150 Months
Rate of interest : 9.1%
With 150 installments and a 9.1% interest rate, the interest on the personal computer advance would be approximately Rs. 17,409.38/-. This is how one must calculate the computer advance for central government employees.
computer advance for central government employees| computer advance for central govt employees| central govt employee news| central government employees| central government employee advances|computer advance for central government employees forum