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Demonetization Effect: JK Govt to make cash-payout of part salary in advance 11/19/2016 10:09:50 PM Early Times Report Jammu | Nov 19 : To alleviate the inconvenience faced by the employees and general public due to demonetization, the State Government today announced to release part salary for the month of November 2016 to all non-gazetted/class-IV employees in advance in cash. The decision was taken in a meeting to review the inconvenience faced by the employees and general public due to demonetization and subsequent directions passed by the Chief Minister, Mehbooba Mufti, in this regard. Giving details, the Finance Minister, Dr Haseeb Drabu said as per the directions of the Chief Minister, Rs 10000 out of the salary for the month of November 2016 will be paid in cash by 24th November to all the non-gazetted employees of the State Government. He said due to demonetization of Rs 500 and Rs 1000 currency note, there has been acute shortage of currency notes in circulation resulting in inconvenience to the cross-sections of society and in particular, lower income sections of the society including Non-Gazetted/Class-IV employees. The Finance Minister said the employees who do not wish to receive the cash pay-out of the part salary in advance may give their option in the prescribed proforma to their respective Drawing & Disbursing Officer by 22nd November 2016. "In that case, their salary will be credited to their account on the last working day of November 2016, as usual," he said adding that in case no option is received by the said date, it will be presumed that the employee has opted for cash pay-out and the payment thereof will be disbursed in cash accordingly. "Residual part of their salary payable for the month of November 2016 will be released as per the existing procedure," he said. The Finance Minister hoped that the move will mitigate the inconvenience of the employees to some extent as they will not be forced to queue-up in the banks and thereby rush in the bank branches will also reduce.   Share This News with Your Friends on Social Network     Comment on this Story

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