Agnipath Recruitment Scheme: Agnipath Recruitment: Govt to give one-time SevaNidhi package of Rs 11.71 lakh, money exempt from Income Tax | Personal Finance News
New Delhi: The Union Cabinet on Tuesday cleared AGNIPATH scheme for recruitment of youth in the Armed Forces. The scheme is called AGNIPATH and the youth selected under this scheme will be known as Agniveers. AGNIPATH allows patriotic and motivated youth to serve in the Armed Forces for a period of four years. 46,000 Agniveers to be recruited this year. Recruitment rallies will commence in 90 days
“It is envisaged that average age profile of Indian Armed forces would come down by about 4-5 years by implementation of this scheme,” said an official release. The ‘Seva Nidhi’ will be exempt from Income Tax. There shall be no entitlement to gratuity and pensionary benefits. Agniveers will be provided non-contributory Life Insurance Cover of Rs 48 lakhs for the duration of their engagement period in the Indian Armed Forces.
Agniveers to be enrolled under respective Service Acts for four years. One time ‘Seva Nidhi’ package to be paid to Agniveers upon completion of engagement period of four years.
Agniveers will be paid one time ‘Seva Nidhi’ package which shall comprise their contribution including accrued interest thereon and matching contribution from the Government equal to the accumulated amount of their contribution including interest as indicated below:
During this period of service to the nation,the Agniveers will be imparted with various military skills and experience, discipline, physical fitness, leadership qualities, courage and patriotism. Post this stint of four years, the Agniveers will be infused into the civil society where they can contribute immensely towards the nation building process. The skills gained by each Agniveer will be recognised in a certificate to form part of his unique resume.
The individuals, selected for enrolment in the Armed Forces as regular cadre, would be required to serve for a further engagement period of minimum 15 years and would be governed by the existing terms and conditions of service of Junior Commissioned Officers/Other Ranks in Indian Army and their equivalent in Indian Navy and Indian Air Force and that of Non Combatant enrolled in the Indian Air Force, as amended from time to time.