7th Pay Commission: Huge Relief For Union Employees On LTC Cash Voucher Scheme!
The Union Ministry of Finance has given great relief to the Union employees who have taken advantage of Leave Travel Concession (LTC) voucher scheme.
On Sunday, the Finance Ministry said that employees availing this scheme can also present separate bills for services and purchase of goods. This time the government has introduced LTC every 4 years under cash voucher scheme so that employees can take advantage of the scheme even without traveling.
The Department of Expenditure under the Ministry of Finance has issued FAQs regarding LTC Cash Voucher Scheme, which clarifies that employees can use LTC Fair even without leave encashment.
LTC Cash Voucher Scheme was announced on October 12 by the Central Government. Under this, central employees can purchase such services and goods, which attract 12% or more GST. Till now, the central employees were given LTC benefits only on traveling, otherwise they had to be deprived of it. However, this time the government has introduced this amount under the cash voucher scheme. It is believed that this will bring cash in the market and will help to increase demand in a sluggish economy. The Finance Ministry says that the scheme can be availed without traveling, but this amount will be same as LTC Fair.
If the employee or his family has taken some benefits under LTC scheme and is still in arrears, will they be able to use it? In response, the Ministry of Finance has said that the remaining amount can be used. The scheme is for blocks from 2018 to 2021. In this case, the remaining amount can be used. Explain that under LTC Cash Voucher Scheme, the government has also said that digital mode should be given priority in payment.
Apart from LTC cash voucher scheme, it has been decided to give festival advance of Rs 10,000 to central employees. This amount can be spent till March 31, 2021. There will be no interest on this amount and it will have to be returned in 10 easy installments. Under this, ‘Utsav Cards’ will be issued by the government, which will have an amount of Rs 10,000.
(With inputs from jansatta.com)