Connect with us

Business

Central Govt Employees Retiring In Middle Of The Year Will Be Paid Proportionate Money For THIS Allowance

Published

on

Central Govt Employees Retiring In Middle Of The Year Will Be Paid Proportionate Money For THIS Allowance


New Delhi: 7th Pay Commission Update: The central government has issued a new clarification regarding the payment and recovery of dress allowance for its employees. In a new circular the government stated that both new recruits and employees retiring after July 30, 2025, would get their due proportionate dress allowance money in their July 2025 salary. However, employees who retire from October 2025 onwards will face recovery of any overpayment that was already made.

Dress allowance on proportionate basis

In the circular dated September 24, 2025, the central government said: “With respect to the dress allowance to the officials retiring after July, 2025, it was mentioned in the aforesaid OM dated 16.06.2025 that a clarification was being sought from MoF and till the receipt of such clarification the prevalent instructions dated 05.03.2020 would continue to be followed in their cases.

Add Zee News as a Preferred Source


Now, the MoF vide L.D. No. 19051/2/2025-E.IV Department of Expenditure, dated 16.09.2025 has advised that the payment of Dress Allowance to officials retiring in the middle of the year may also be regulated on a proportionate basis, in the same manner as prescribed for new joinees under this Department’s OM dated 24.03.2025, so as to maintain consistency and uniformity.”

Clarifications on payment and recovery

The government said that the payment of the dress allowance has been made along with the pay and allowances for the month of July, 2025. Accordingly, the dress allowance would already have been disbursed to all entitled employees, including those retiring in the middle of the year, either at full rates or half the rates.

In view of the fresh instructions of the DoE, the government has decided to supersede the previous order dated March 5, 2020 and June 16, 2025 as under:

a) The entitled officials retiring in the middle of the year for uniform will be paid proportionate dress allowance with effect from June 2025.

b) Recovery of excess proportionate amount from those employees whose retirement falls in October 2025 onwards may be made from the pay and allowances for the month of October 2025.

c) No recovery would be effected from those who have already retired as on date or who are due to retire on September 30, 2025.

Dress Allowance for new recruits

The government said that with regard to the payment of dress allowance to newly recruited officials joining after July 2024, it was observed that in some circles, the dress allowance for the last year has not been included in the pay and allowances of July 2025.

Reiterating the rule, the circular stated that all new recruits who joined between June 2025 and July 2024 are entitled to dress allowance in accordance with the instructions dated June 16, 2025.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Southwest Airlines forecasts quarterly earnings below estimates on higher fuel

Published

on

Southwest Airlines forecasts quarterly earnings below estimates on higher fuel


A Southwest Airlines Boeing 737 airplane lands at Los Angeles International Airport after arriving from Chicago on March 7, 2026 in Los Angeles, California.

Kevin Carter | Getty Images

Southwest Airlines forecast second-quarter earnings below analyst estimates, citing higher fuel prices, while holding off on updating its full-year 2026 forecast.

Southwest expects to earn between 35 cents and 65 cents a share in the current quarter, while analysts polled by LSEG expected 55 cents a share.

The airline in January forecast earnings per share of $4 this year, saying that it expected its new initiatives would pay off. Southwest has sought to increase revenue with checked bag fees and seat assignment fees.

“Achieving this outcome would require lower fuel prices and/or stronger revenue performance to offset higher fuel expense. The Company expects to provide updates to this guidance as appropriate,” Southwest said in an earnings release Wednesday.

Airlines have been either cutting their full-year forecasts or holding off on further forecasts because of volatile prices for jet fuel, generally their biggest expense after labor. They are also pulling back on their capacity growth plans to cut costs, which can drive up airfare when fewer seats are for sale.

Southwest said it expects its capacity to be flat to up no more than 1% in the second quarter, and unit revenues to rise by 16.5% to as much as 18.5% over last year.

“Demand continues to be strong, and we remain focused on controlling what we can control by managing costs, optimizing revenue initiatives, and directing capacity toward higher‑return opportunities,” CEO Bob Jordan said in the earnings release.

Here’s what the company reported for first quarter compared with Wall Street expectations, according to consensus estimates from LSEG:

  • Earnings per share: 45 cents vs. 47 cents cents expected
  • Revenue: $7.25 billion vs. $7.27 billion expected

Southwest swung to a profit of $227 million, or 45 cents a share in the first quarter, compared with a $149 million loss, or a loss of 26 cents per share, a year earlier.

Revenue rose nearly 13% to $7.25 billion compared with $6.43 billion in the year-earlier period.

Read more CNBC airline news

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.



Source link

Continue Reading

Business

Trump family crypto firm sued over alleged ‘extortion’

Published

on

Trump family crypto firm sued over alleged ‘extortion’



Billionaire investor Justin Sun is suing the family’s World Liberty crypto venture after spending $45m on its tokens.



Source link

Continue Reading

Business

Tesla widens India bet with launch of Model Y L – The Times of India

Published

on

Tesla widens India bet with launch of Model Y L – The Times of India



MUMBAI: Even as it contends with slow sales and stiff competition from rivals, Elon Musk’s Tesla is expanding into India with a new product launch and wider coverage of its service centres and charging stations in the country. On Wednesday, the electric vehicle (EV) giant launched its six seater Model Y L variant in India, as it targets affluent local households looking to spend on spacious cars. Tesla’s India head Sharad Agarwal said the firm wants to “disrupt” the luxury SUV market here. The US-based company will compete with players such as Mercedes-Benz and MG in the luxury three-row EV category.Tesla forayed into India in July 2025 with its Model Y SUVs, having delayed its entry into the market for several years over high tariffs, limited flexibility and charging infrastructure challenges. Despite launching with much fanfare, its growth in India has been sluggish—Tesla recorded 342 vehicle registrations in FY26, data from Federation of Automobile Dealers Associations (FADA) showed. The firm is also understood to have offered discounts of up to Rs 2 lakh on select variants of Model Y to clear its inventory. Tesla imports the cars it sells in India, paying steep duties for them which is why they are priced way higher here compared to what it costs consumers in other markets.Tesla plans to expand its network of charging stations across major cities besides setting up body shops in Bengaluru, Hyderabad, Chennai and Ahmedabad. “We are building block by block a very strong foundation for the business and the brand in future, focusing on building the entire ecosystem in India,” Agarwal said. Deliveries for the new Model Y L, starting at Rs 61.99 lakh will begin from this quarter. EVs currently make up about 4-5% of total car sales in India.



Source link

Continue Reading

Trending