Indian Army’s Agniveer Yojana, Know Salary, Compensation Everything About It
Agniveer Yojana : The Agneepath scheme gives the youth an opportunity to serve the country along with making a career in the military forces. The government is also offering attractive packages to Agniveers joining the armed forces. There is also a provision for compensation in case of his death or any kind of disability. Know, how much is the salary package of Agniveers and how many packages are given by the government…
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Agniveer Yojana : Agniveer Corpus Fund
In the Indian Armed Forces, 30 percent of the salary that Agniveer receives every month is deposited in the Agniveer Corpus Fund every month. The government also deposits the same amount from its side. The government also gives the amount to the candidate in the PPF account at its interest rate. Agniveers do not have to deposit money in the PPF of the Armed Forces. This is also a big reason which tells how much the government is helping the Agniveers financially. In this way, the central government is giving many benefits to the Agniveers in different ways.
Salary Package
1. The monthly package of Agniveers increases every year. 30 thousand in the first year, 33 thousand in the second year, 36,500 in the third year and 40 thousand rupees per month in the fourth year. Out of this monthly package, 30% is deposited in Agniveer Corpus Fund.
2. Thus after setting aside 30% for the fund, Agniveer is give Rs.21,000 in the first year. Rs.23,100 in the second year, Rs.25,550 in the third year and Rs.28,000 in the fourth year.
3. Agniveers get a total of Rs 11,71,800 in four years of service. The amount of money that the government deposits in the fund. The same amount is also deposit by the government in that fund for them. After four years of service, about 5.02 lakh rupees are collect in the Agniveer’s fund and this amount becomes 10.04 lakh rupees by including the amount receive from the government.
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Agniveer Yojana : Service Fund Package
On discharge after completion of 4 years of service, Agniveers of that batch are eligible to get 75% service fund package. He is give Rs 10.04 lakh along with interest. It helps them to make career in other sector. The 25 percent Agniveers who are give permanent appointment are give Rs 5.02 lakh from the service fund. Income tax is not levi on service fund. If the candidate leaves the job prematurely, he will get the same amount of service fund package with interest that he has deposit.
Contribution deposit by the government will not receive. Agniveer will have two options to get the service fund package. First, after the completion of 4 years, the entire amount will transfer to the account. Second, one lakh rupees will give in the account. The remaining amount is kept as a guarantee in case of taking a bank loan. 18 lakhs for 3 years using an ex-Agniveer Seva Nidhi package. Will able to take loan of Rs.
Compensation on Death
If Agniveer dies during 4 years, then his family members are given various types of compensation-
1. 48 lakh rupees are give to the family as life insurance. No part of this amount is deduct from Agniveer’s salary.
2. Compensation is also make on the basis of the situation in which the death took place.
Category-X: If the death of a candidate is natural and not related to the armed forces, the next of kin get a share of the service fund package along with the government’s contribution and interest.
Category-Y: If the death of the candidate happens during training or other work while working for the armed forces, then the next of kin gets Rs 44 lakh as lumpsum. Apart from this, the full amount of service fund is receive. It also includes the government’s contribution and interest.
Category-Z: The benefits of category Y are give in case of dead while fighting or attack during the war.
