Advance Head BPS of Employee Amount of Allocation Monthly Installment
Unfortunately, the Prime Minister’s Kamyab Jawan Scheme (PMKJ) isn’t designed for employee salary advances. It focuses on empowering young people to start businesses, not providing loans to existing employees.
However, there might be other programs within your organization or from government entities that offer employee salary advances. Here’s what we can explore to find the information you need:
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Check with your HR department:
They would be the primary source of information regarding any employee advance programs offered by your company. They can provide details on:
- Eligibility: Who qualifies for an advance (e.g., minimum service time, salary grade).
- Advance Head BPS: This refers to the maximum amount of the advance based on your position’s Basic Pay Scale (BPS) in the government pay structure (if applicable).
- Amount of Allocation: The specific amount you can receive as an advance within the limits set by your BPS.
- Monthly Installment: The fixed amount you’d need to pay back each month.
- Total Number of Installments: The total duration (in months) over which you’d repay the advance.
Explore government employee advance programs
Certain government departments might offer salary advance programs for their employees. You can search online for “[Government Department Name] Employee Advance Scheme 2024” (replace “[Government Department Name]” with the relevant department). This might lead you to official websites with details on eligibility, advance amounts, repayment terms, etc.
Allocation Monthly Installment
- Motor Car Advance (MCA) BS-17 and above Rs.200,000/- Rs.3,334/- PM
60 Installments
- House Building Advance (HBA) BS-01 to BS-17 Rs.250,000 Rs.2,080/- PM 120 Installments
- Motorcycle Advance (MCA) BS-01 to BS-17 Rs.80,000 Rs.1340/- PM 60 Installments
- Cycle Advance (CA) BS-01 to BS-17 Rs.8,000 Rs.100/- PM 40 Installment
Interest Free HBA, MCA and Cycle Advance
You can see that the amount of advance is meager but as this is interest-free employees will get the benefit from it. The employees will have to pay no interest. However, there are also some drawbacks to this loan. YOu can buy a motorcycle for 80,000/- but not a motorcar or a house. The government of Khyber Pakhtunkhwa should increase the amount of HBA to a minimum of 2 million and for the car a minimum of 1.5 million. Similarly, the cycle amount should be a minimum of 30000/-.
