Govt brings major revisions to the education advanced scheme for employees
Hence, in the recent revision, the government has decided to further increase the quantum of the education advance, as it had not been revised for thirty years, despite the rising costs of higher education.
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CHENNAI: The government has introduced and subsequently revised a special scheme known as the Education Advance for government employees.
This scheme aimed to provide interest-free advances to assist employees in covering the educational expenses of their children attending colleges and polytechnics.
Initially, the advance was limited to one month's basic pay or the amount of the advance, whichever was lower. Over time, this advance was revised and enhanced in multiple stages.
Hence, in the recent revision, the government has decided to further increase the quantum of the education advance, as it had not been revised for thirty years, despite the rising costs of higher education.
The new limits for group C and group D employees will be one month's basic pay or the specified limits, whichever is higher. "For group A and group B employees, the advance will be 50 percent of one month's basic pay or the specified limits, whichever is higher, "stated the circular.
These enhanced limits will apply to government employees whose children are studying in professional colleges (Rs 2,500), arts and science colleges (Rs 2,000), and polytechnic colleges (Rs.1000). This change is set to take effect from this academic year 2023-2024.