TABLE OF CONTENT

Have you ever wondered how the government ensures employees are paid fairly and equally?

Then you’re at the right place.

This guide will address that query and go into the salient characteristics, key ideas, and the year that the 7th Pay Commission went into effect, giving you a comprehensive grasp of this crucial facet of governmental management.

What is Pay Commission?

A Pay Commission is a central government administrative system and process that assesses and examines the current payment structure and suggests adjustments (in pay, allowances, benefits, bonuses, and other facilities) for civilian and military personnel.

Additionally, when someone asks, “What is Pay Commission”? They would also want to understand the evaluation part. In short, after evaluating employee productivity and performance, they evaluate the regulations governing bonuses. Examining current pension plans and other retirement benefits is another task for the Pay Commission.

The Pay Commission only offers a proposal after carefully considering our nation’s economic situation and available resources. The personnel of the Central Government are the main focus of this commission. As already mentioned, since 1947, around 7 Pay Commissions have been established.

When Was The 7th Pay Commission Implemented?

The 7th Pay Commission was implemented on February 8, 2014. Every ten years, the Central Government creates a Pay Commission to review the pay scale for its employees. The government gives you 18 months (counting from the day your constitution took effect) to produce a report with a recommendation. After finalising the proposals, this commission can send interim reports on any subject. The Central Government can approve or reject suggestions because this is not a constitutional body. The State Government does, however, frequently embrace proposals and put them into practice after making certain adjustments.

Also Read: What Is Gratuity In Salary? How To Calculate? Eligibility Criteria for Gratuity

What Are the Salient Features Of the 7th Pay Commission of India?

The 7th Central Pay Commission (CPC), the Seventh Pay Commission of India, is an essential part of the nation’s government. The main point of the 7th Pay Commission is to evaluate and suggest adjustments to the pay scale and other employment policies for central government employees. Several crucial points may help you comprehend the significance of the Seventh Pay Commission:

Equitable Compensation:

The Seventh Pay Commission of India ensures public servants are paid fairly and equally for their work. It reduces the income gap between the public and private sectors, attracting and keeping qualified persons in government service. Pay scales are reviewed and revised regularly.

Talent Attraction:

Competitive pay is crucial for attracting the top candidates for various government posts. The recommendation of the 7th Pay Commission makes it easier for highly qualified and educated people to apply for government jobs. In turn, this enhances the general efficacy and efficiency of government services.

Economic Stimulus:

The 7th Pay Commission recommends salary increases have a big impact on the economy. Government workers’ larger discretionary earnings because of higher salaries will spend more on goods and services. This increases demand for goods and services, which supports economic expansion.

Controlling inflation:

The Seventh Pay Commission of India assists government workers in keeping up with inflation by periodically modifying compensation. Their overall quality of life is improved because this prevents the erosion of their real income over time.

Social Equality:

The Seventh Pay Commission of India works to advance social equality by tackling income inequality. It guarantees that all government workers receive equal compensation regardless of their job responsibilities. Social harmony and a decline in income disparity depend on this equity.

Motivation:

Appropriate remuneration is a key factor in motivating the workforce. One of the salient features of the 7th Pay Commission is to motivate government workers, they take up their responsibilities effectively and with dedication when paid appropriately. It may result in increased administrative and public service effectiveness.

Protecting Employee Interests:

The Seventh Pay Commission of India considers government employees’ well-being, including their benefits, pensions, and allowances. Employees’ financial interests are protected during their employment and retirement.

Uniformity:

All central government employees must follow the Pay Commission’s recommendations to ensure uniformity and fairness in pay systems. By doing this, inequities that could result from differences in salary among various departments or regions are eliminated.

Investment Stimulating:

The wage increase for government personnel also stimulates investments in several economic sectors, including real estate, transportation, and consumer goods. It encourages the growth of the industrial sector and the creation of jobs.

Legal Framework:

The Pay Commission’s recommendations serve as the legal foundation for calculating salaries and allowances for central government personnel. Doing this ensures that government workers are paid according to specified guidelines and the recommendation of the 7th Pay Commission.

Political and Social Implications:

Because government employees and their families make up a sizable portion of the electorate, the recommendation of the 7th Pay Commission has important political ramifications. Any government’s popularity and electoral success depend on how well it responds to its citizens’ economic concerns.

Administrative Efficiency:

The Seventh Pay Commission of India assists in streamlining and modernising administrative procedures by routinely evaluating the pay structure and allowances. Greater effectiveness, accountability, and transparency could result in the public sector.

Also Read: 5 Reasons to Withdraw PF

What Are the Main Points Of the 7th Pay Commission of India?

Here are the main points of the Seventh Pay Commission of India:

The primary goal of the Seventh Pay Commission of India was to update the pay systems and scales for central government employees. To ensure fair and equal compensation, this involves assessing the current pay scales, allowances, and other financial perks offered to government employees and recommending adjustments.

Talent Attraction and Retention:

The Seventh Pay Commission of India aims to make government positions more appealing by providing competitive salaries and benefits to recruit and keep highly trained and competent persons in government service. This goal was crucial to maintain the effectiveness and capability of the government personnel.

Inflation Control:

The Seventh Pay Commission of India recommended pay increases and allowances that would assist employees in maintaining their purchasing power and raising their standard of living to safeguard the actual income of government workers and ensure that their salaries maintained pace with inflation.

Equity and Social Justice:

The Seventh Pay Commission of India sought to address income inequities and advance social justice by ensuring that government employees across various job categories and levels were paid equitably. This goal complemented the government’s resolve to lessen income disparity in the nation.

Efficiency and Productivity:

Increasing the efficiency and productivity of government staff was another goal. The Pay Commission sought to encourage workers to carry out their responsibilities properly and efficiently, thereby enhancing public services.

Budgetary Sustainability:

The Seventh Pay Commission of India considered the government’s financial obligation in addition to the needs and requests of government employees. It aimed to ensure the recommendations were financially sound and wouldn’t put an undue strain on the government’s budget.

Legal Basis:

The central government employees’ pay and allowances are determined following the Pay Commission’s recommendations. As a result, one of the recommendations of the 7th Pay Commission was to provide a legislative framework for allocating remuneration to public employees following accepted guidelines.

Also Read: Understanding The Deductions Under Your Salary

Key Highlights of the 7th Pay Commission

Pay Matrix:

In response to issues with the Grade Pay Structure, the 7th Pay Commission dated a new proposal. After the 7th Pay Commission is implemented, a government employee’s level in the new pay matrix will determine their position rather than their grade pay. Since learning about the Pay Matrix system, employees of the Central Government have been worried about their grades and levels. The new pay structure recommended by the 7th Pay Commission contains all current levels; no additional levels have been created. The Salary Commission recommends paying all employees’ full salaries and benefits to any staff members admitted to the hospital due to WRIIL.

Fitment:

The 7th Pay Commission recommends a consistent Fitment Factor to eliminate partiality and discrimination in the system. According to the Pay Commission, all employees should have a standard Fitment Factor of 2.57. The fitment factor for the Seventh Pay Commission of India would likely increase from 2.57 times to 3.00 times. Contrary to the 7th CPC’s guidelines, the employees are asking for a boost of 3.68 per cent, which would virtually triple the fitment factor.

Dearness Allowance (DA):

Recently, the Dearness Allowance had a 2% increase, which was a big comfort to government employees. According to reports, this action by the Union Cabinet will help more than 50 lakh Central Government workers and almost 55 lakh staff members and retirees. Since central government personnel are more likely to be affected by variables like inflation, this increase was primarily targeted at them. The rise increased immediately from 5% to 7%.

Annual increase:

The Seventh Pay Commission of India has recommended keeping the 3% p.a. annual increase.

Modified Assured Career Progression (MACP):

The Seventh Pay Commission of India strongly emphasises individual performance to improve the standard of services provided by the Government of India. The report states that the MACP performance benchmarks have changed and become more stringent. By replacing the previous “Good” performance level with “Very Good,” they have tightened the requirements for the performance indicator. The research further suggests that no promotions should be offered if MACP is low for the first 20 years of employment and that no annual raises should be given to workers who do not perform to their performance level.

The Seventh Pay Commission of India advises against paying Military Service Pay (MSP) to anyone other than Defence Personnel. MSP is the pay given to those who volunteer for the Indian military. All levels, even Brigadiers and those at the same level, will be subject to MSP.

The Cabinet has reviewed all 196 of the current allowances and has eliminated 51 of them while keeping the remaining 37.

House Rent Allowance (HRA):

The Seventh Pay Commission of India has recommended raising the House Rent Allowance by 24% to align with the 7th Pay Commission’s goal of raising the basic pay of government employees. One of the salient features of the 7th Pay Commission is that when DA (dearness allowance) passes 50%, HRA will rise to 27%, 18%, and 9%. When DA reaches 100%, HRS will rise even further and be paid at 30%, 20%, and 10%.

Advances:

The Seventh Pay Commission of India banned all non-interest-bearing advances, except for personal computer and house-building advances. Another important change is the rise in the House Building Advance from ₹ 7.5 lakhs to ₹ 25 lakhs.

Medical modifications:

The Seventh Pay Commission of India has recommended a Health Insurance Scheme for Central Government employees and pensione₹ The research also suggests a cashless medical benefit for retirees who live outside the CGHS service region.

Pension:

The Seventh Pay Commission of India urges modification of the existing pension system. For civil employees, such as the CAPF and military personnel who retired before January 1, 2016, they suggest a revised pension formula. The goal of the new formula will be to strike a balance between pensioners and current retirees. The new Pay Matrix system will be applied to past pensioners to calculate their new pension. The pension amount will later be calculated by adding the total increments a pensioner earned at that level while on active duty at a rate of 3% each year. The revised pension will be worth 50% of the final sum. In the future, a pensioner will receive 2.57 times their base pension.

The Commission suggests raising the maximum gratuity from ₹ 10 lakh to ₹ 20 lakh. They also suggest that when the DA increases by 50%, the cap on gratuities may be raised by 25%.

Armed Forces Disability Pension: The Commission has suggested implementing a slab-based approach for the disability element rather than the current percentile-based disability pension regime.

Also Read: Ways to create a budget for your salary

7th Pay Commission Pay Scale for Central Government Employees:

The pay scale for members of the Indian Air Force varies depending on the officer’s rank, area of posting, branch, and designation, according to the 7th Pay Commission’s recommendations. A thorough salary structure is shown below:

  • Minimum Grade Pay for Indian Air Force employees: ₹ 5,400
  • Pay Band: ₹ 15,600
  • Military Service Pay: ₹ 6,000
  • Kit Maintenance: ₹ 500

The 7th Pay Commission has also updated the allowances given to members of the Indian Air Force:

  • Dearness Allowance (usually 80% of Gross Emoluments): ₹ 21,600
  • Flying Allowance (for officers in the flying branch): ₹ 11,250
  • Travel Allowance: ₹ 3,200 in metro cities and ₹ 1,600 for other cities and towns
  • Technical Allowance (for officers in the technical branch): ₹ 2,500
  • Monthly salaries for Indian Air Force employees based on their rank:
  • Flying Officer: ₹ 56,100 – ₹ 1,77,500
  • Air Commodore: ₹ 1,39,600 - ₹ 2,17,600
  • Flight Lieutenant: ₹ 61,300 - ₹ 1,93,900
  • Squadron Leader: ₹ 69,400 - ₹ 2,07,200
  • Captain: ₹ 1,30,600 - ₹ 2,15,900
  • Wing Commander: ₹ 1,21,200 – ₹ 2,12,400

Perks enjoyed by Indian Air Force employees:

  • Pension
  • Housing accommodations
  • Vehicle-based on rank
  • Educational discounts
  • Travel allowances
  • High-quality healthcare services provided at no cost
  • Loans at low-interest rates

Pay Scale and Allowance for Anganwadi Workers:

According to the Seventh Pay Commission of India, Anganwadi workers are crucial in the fight against childhood malnutrition. The salary structure for Anganwadi employees varies by state, and they frequently receive perks, including festival stipends, HRAs for housing costs, dearness stipends, and set medical stipends. Kerala, Andhra Pradesh, and Telangana are some states that have approved wage rates for Anganwadi employees, with the following salary ranges:

  • Kerala: ₹ 7,000 (helpers) and ₹ 10,000 (Anganwadi workers)
  • Telangana: ₹ 4,500 (helpers) and ₹ 7,000 (Anganwadi workers)
  • Andhra Pradesh: ₹ 4,500 (helpers) and ₹ 7,000 (Anganwadi workers)

Pay Scale for Army and Defence Personnel:

With the Seventh Pay Commission of India’s implementation of a 15-scale pay structure and the elimination of the prior grade pay system, the pay structure for Indian Army and defence personnel varies by rank and experience. Some wage ranges and allowances are as follows:

  • Lieutenant: ₹ 15,600 - ₹ 39,100 (pay scale), ₹ 5,400 (grade pay)
  • Major: ₹ 15,600 - ₹ 39,100 (pay scale), ₹ 6,100 (grade pay)
  • Captain: ₹ 15,600 - ₹ 39,100 (pay scale), ₹ 6,600 (grade pay)
  • Lieutenant Colonel: ₹ 37,400 - ₹ 67,000 (pay scale), ₹ 8,000 (grade pay)
  • Colonel: ₹ 37,400 - ₹ 67,000 (pay scale), ₹ 8,700 (grade pay)

Allowances Paid to Indian Army Officers:

Hard regions allowance, kit maintenance allowance, high altitude climatic allowance, house rent allowance, Siachen allowance, transit allowance, and other allowances are given to the Indian Army officers. The Seventh Pay Commission of India increased assistant professors’ pay scales, and their expected salaries are now between ₹ 46,800 and ₹ 1,17,300 with a grade pay of ₹ 19,800.

Assistant Station Master Rate Range:

According to the Seventh Pay Commission of India, Assistant Station Masters should receive a grade rate of ₹ 4,200 per month. They also receive additional benefits, including pension, transit reimbursement, and HRA.

Pay Scale for Associate Professor:

Under the 7th Pay Commission, associate professors’ pay scales are anticipated to alter, with a grade pay of ₹ 27,000 per month and a salary range of ₹ 1 lakh to ₹ 2 lakh.

Bank officers’ and probationary officers’ pay scales:

A probationary officer’s monthly compensation under the 7th Pay Commission is expected to be ₹ 41,490, including base pay, DA, HRA, and other benefits. Bank employees’ remuneration varies depending on their rank and classification.

Also Read: Electronic Clearing Service(ECS): What Is ECS And How It Works?

Key Takeaway

  • So, we hope you understand what a Pay Commission is and when the 7th Pay Commission was implemented. In conclusion, it should be noted that the 7th Pay Commission of India, which was constituted in 2014, has been critical in assessing and recommending changes to the pay scale and employment rules for central government employees. Its goals have been to provide fair compensation, entice top talent, manage inflation, advance social equality, boost motivation, and safeguard employee interests. The economy, politics, and government workers have all been significantly impacted by the 7th Pay Commission’s recommendations.
  • Equitable remuneration, talent acquisition and retention, inflation control, equity and social justice, productivity and efficiency enhancement, budgetary sustainability, and establishing a legal foundation for salary and allowance computations are some of the salient features of the 7th Pay Commission. With an emphasis on enhancing the general calibre of services rendered by the government, the Commission has suggested adjustments to pay scales, allowances, and other financial incentives for government personnel.
  • Updated pay systems, talent acquisition and retention, inflation control, promoting fairness and social justice, increasing efficiency and productivity, assuring budgetary sustainability, and creating a legislative framework for compensation are among the main points of the 7th Pay Commission. The Pay Matrix system, a consistent Fitment Factor, Dearness Allowance adjustments, and revisions to other benefits and allowances are only a few of the recommendations made by the Commission.
  • Regarding particular proposals, the 7th Pay Commission recommends raising the minimum wage, altering the salary structure, changing the House Rent Allowance (HRA), altering pension calculations, and changing several government employee perks.
  • Overall, the Seventh Pay Commission of India has had a big impact on central government workers’ lives and has been a key part of the Indian government’s attempts to provide equitable compensation and increase the effectiveness of public services.

Plan Your Finances With Our Financial Calculator
Plan Now

FAQS – FREQUENTLY ASKED QUESTIONS

  • What is a Pay Commission ?

    A Pay Commission is a government-appointed administrative body assessing and recommending changes to a nation’s civilian and military personnel’s pay structure, allowances, perks, and other compensation-related policies.

  • When was the 7th Pay Commission implemented ?

    The 7th Pay Commission was implemented on February 8, 2014.

 

DISCLAIMER

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.

MORE RELATED ARTICLES

Understanding Alimony Rules in India: What is it & How is Alimony Calculated in India?

The Cost of Raising a Child in India – How Much Money is Required?

Credit, Debit or ATM Card - What's the Difference?

How to Open a Savings Account Online & Offline: Step by Step Process

How Much Do Indians Spend on Fitness on Average?

Difference between CTC vs Gross Salary vs In-hand Salary

Dissecting the Structure of Your Salary

How Much Salary Should I Invest In The First Year Of Getting A Job?

For Expert Advice on the Right Money Solutions, leave your details below...

For Expert Advice on the Right Money Solutions, leave your details below...

Enter OTP
Resend OTP 02:00

I agree to the Terms & Conditions

*All fields are mandatory.

Terms and Conditions
Terms and Conditions for use of www.adityabirlacapital.com

About Aditya Birla Capital

Aditya Birla Capital (‘the Brand’) is the single brand for financial services business of Aditya Birla Group. The trade logo “Aditya Birla Capital” and the URL www.adityabirlacapital.com is owned by Aditya Birla Management Corporation Private Limited (trade mark owner) and the same is used herein under the License by Aditya Birla Capital Limited (ABCL) and its subsidiary companies (collectively hereinafter referred to as “ABC Companies”).  Aditya Birla Capital Limited is the holding company of all financial services businesses.  

www.adityabirlacapital.com (“the Website”) is maintained and run by Aditya Birla Financial Shared Services Limited (having its registered office at 18th Floor, One India bulls Centre, Tower 1, Jupiter Mills Compound, Senapati Bapat Marg, Elphinstone Road, Mumbai- 400013). The information available on www.adityabirlacapital.com relates either to ABCL and/ or ABC Companies under all associated web pages/ sites which are linked to www.adityabirlacapital.com (“hereinafter referred as the Website”).

All of the ABC Companies have their own separate legal identities and webpages (details about which are embedded in their respective web pages/sites) but in this Website they may sometimes use "Group", "we" or "us" when we refer to ABC Companies in general or where no useful purpose is served by identifying any particular ABCL Affiliate.

Terms and Conditions and Acceptance

Please read these Terms and Conditions (“Terms of Use”) carefully. Your Acceptance of the Terms of Use contained herein constitutes the Agreement for the Purpose as defined hereunder. The Acceptance of Terms of Use will be between You and Aditya Birla Financial Shared Services Limited (hereinafter referred as “Facilities Provider”) which is facilitating provision of the services, other than those which are otherwise specifically provided by each of the ABC Companies on their respective web pages / sites to you.

By accessing and using this Website you have confirmed that you have read, understood and bound yourself by these Terms of Use. These Terms of Use shall apply to the access and use of the Website and all associated web pages/ sites which are linked with www.adityabirlacapital.com (“Website”). You will be subject to the rules, guidelines, policies, terms, and conditions applicable to any facilities that are provided by this Website and all associated web pages/ sites and they shall be deemed to be incorporated into these Terms of Use and shall be considered as part and parcel of these Terms of Use.

In terms of the information Technology Act, 2000 (as amended from time to time), this document is an electronic record.  By accessing the Website and availing for facilities on the Website, the users (hereinafter referred to as "you", or "your") agree to be bound by these Terms of Use, the legal disclaimer (‘Legal Disclaimer’) and the Privacy Policy (“Privacy Policy”), as posted on the Website.

This Agreement describes the terms governing the usage of the facilities provided to you on the Website. Clicking "I Agree" to "Terms & Conditions", shall be considered as your electronic acceptance of this Agreement under Information Technology Act 2000. Your continued usage of the facilities from time to time would also constitute acceptance of the Terms of Use including any updation or modification thereof and you would be bound by this Agreement until this Agreement is terminated as per provisions defined herein.

Your electronic consent, accepting these Terms of Use, represents that you have the capacity to be bound by it, or if you are acting on behalf of any person, that you have the authority to bind such person.

You also acknowledge and agree that, unless specifically provided otherwise, these Terms of Use only apply to this Website and facilities provided on this Website. All of the ABC Companies may have their own individual web pages/sites which are owned by the respective ABC Companies and the facilities offered by the respective ABC Companies will be governed in accordance with the terms and conditions posted of those web pages/websites which you would be bound while availing the facilities/services of the said respective ABC Companies through their respective web pages / sites or otherwise in any other mode as the case may be.

Changes to the Terms of Use

You agree that these Terms of Use may be subject to change/modification for such reason as it may deem fit and proper, including but not limited to comply with changes in law or regulation, correct inaccuracies, omissions, errors or ambiguities, reflect changes in the process flow, scope and nature of the services, company reorganisation, market practice or customer requirements. Upon any change, the updated Terms of Use will be updated on the Website or any other means. Your continued use of the facilities on this Website constitutes acceptance of the changes and an Agreement to be bound by Terms of Use, as amended. You can review the most current version of the Terms of Use at any time, by clicking the Terms & Conditions link on the Website. No fee of whatsoever nature is to be charged for the use of this Website.

If you do not agree with any of these Terms of Use, you may not use this Website.

Authorisation to Facilities Provider

Whenever consent has been obtained/provided by you in any mode under these Terms and Conditions, for availing information/services related to ABC Companies, You agree and authorize the Facilities Provider to share/transfer/transmit your personal information with its ABC Companies and other third parties, in so far as required for offering of facilities through this Website and for analytical / marketing purposes /report generations and/or to offer connected facilities on the Website and may also include transfer/sharing/transmitting  of sensitive personal data or information only if it is deemed necessary for the performance of facilities and to provide you with various value added and ancillary facilities/services and information, to aid you in managing your money needs in the manner agreed under these Terms and Conditions and the privacy policy.  You agree to receive e-mails/SMS/phone calls and such other mode as permitted under law from the Facilities Provider or ABC Companies or its third-party service providers regarding the facilities updates, information/promotional offer and/or new product announcements and such other related information.

You also agree and authorize ABC Companies / its third-party service providers to contact you at the contact information provided for service related communication relating to your product or facilities offered even if your number is in National Do Not Call Registry.

You have the option to withdraw the said consent in the manner specified under these Terms of Use. Please also read the Privacy Policy for more information and details as provided on the Website. The Privacy Policy may be updated from time to time. Changes will be effective upon posting of the revised Privacy Policy on the Website.

One ID at Aditya Birla Capital

You can create a unique ID on the Website for managing and transacting all financial and non financial transactions with ABC Companies. One ID enables you to have a single login ID for viewing and transacting all your product and service needs across ABC Companies. One ABC ID can be created by you on the Website or any of the webpage of ABC Companies (Account.ABC.com sign up page.) by using your e-mail Id and login credentials as registered with the respective ABC Companies while availing the products / services and completing the authentication procedure in the manner specified at the time of creation of One ID.

Once you have created ONE ID you can link and view all your financial products held with ABC Companies on single web page through verification / authentication procedure as applicable to your account/financial products held with the respective ABC Companies.  

You may choose not to create One ID in which case you will not be able to display all your products across ABC Companies on one page. In circumstances like duplicate email id/phone number you may not be able to create the One ID. In such circumstances you must contact the ABCL Affiliate with whom you have held the product/availed the services to enable update the email id/phone number.

 In case you forget the username or password, you can reset the same using the forgot username and password link available on the Website and completing the authentication procedure specified on the Website.    

MoneyForLife Planner

To help you for your money needs you can avail the facility of MoneyForLife Planner (‘MoneyForLife Planner/ Planner’). MoneyForLife Planner facility is powered by Aditya Birla Money Limited, a subsidiary of ABCL. MoneyForLife Planner provides an indicative assessment of your money needs based on the factors like income, age, family members and their future, your future money requirements and current lifestyle status as per details filled in by you on the online questionnaire. The Planner provides an indicative view about the generic investment opportunities available in the manner indicated by you. The results provided by the Planner are generic in nature and do not necessarily reflect the actual investment profile that you may hold and it is not necessary for you to act on it. The Planner provides a generic indication of your money needs to enable you to prioritize your investment needs which are rule based. Therefore, the search results displayed by the Planner cannot be construed to be entirely accurate / comprehensive.

No fee or consideration or economic benefit either directly or indirectly is associated for availing the assessment through MoneyForLife Planner and therefore it is not to be considered as an investment advice or financial planning and / or investment advisory services.

You agree and understand that use of MoneyForLife Planner does not assure attainment of your investment objectives and there is no assurance that the money objectives will be achieved, as the same is subject to performance of the securities, the forces affecting the securities market and your risk profile. You are advised to consult an investment advisor in case you would like to undertake financial planning and / or investment advice for meeting your investment requirements.

You also agree that risks associated with any investment would be entirely yours and you would not hold ABCL and/or ABC Companies or any of its employees liable for any losses that may arise on account of any investments under taken basis the use of MoneyForLife Planner.

All investment decisions shall be taken by you in your sole discretion. You are advised to read the respective offer documents carefully for more details on risk factors, terms and conditions before making any investment decision in any scheme or products or securities or loan product. All investments in any product / fund / securities etc. will be on the basis, subject to and as per the terms and conditions of the specific product’s / fund’s / security’s offer document, key information memorandum, risk disclosure document, product or sales brochure or any other related documents which are offered by the respective issuer of such product/securities. You can use execution platform/services with any third party as deem fit and proper, and there is no compulsion to use the execution services through this Website.

Not an Investment Advisor, Planner, Broker or Tax Advisor

The facilities on the Website are not intended to provide any legal, tax or financial or securities related advice. You agree and understand that the Website is not and shall never be construed as a financial planner, financial intermediary, investment advisor, broker or tax advisor. The facilities are intended only to assist you in your money needs and decision-making and is broad and general in scope. Your personal financial situation is unique, and any information and advice obtained through the facilities may not be appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your advisor or other financial advisers who are fully aware of your individual circumstances. For more details, please also refer to the Legal Disclaimers provided on the Website.

Financial Solutions

We may provide you with various money solutions and options which are generally available basis your investment profile or those which are generally held by persons of similar investment profile. You authorize us to use/disseminate the information to provide the Financial Solutions however it is not necessarily for you to act on it. It only serves an indicative use of information which you may execute in the manner agreed by you.

Password Protection

You shall not be entitled to avail the facilities without the use of a user name and password. You are responsible for maintaining the confidentiality of your password and Account, and you shall not allow anyone else to use your password at any time. You are fully responsible for all activities that occur using your password or Account. You are requested to please notify www.adityabirlacapital.com immediately of any unauthorized use or access of your password or Account, or any other breach of security. The Website will not be liable for any loss that you may incur as a result of someone else using your password or account, either with or without your knowledge.

Intellectual Property Rights

This Website contains information, materials, including text, images, graphics, videos and sound (“Materials”), which is protected by copyright and/or other intellectual property rights. All copyright and other intellectual property rights in these Materials are either owned by ABCL or have been licensed to Facilities Provider, ABCL / ABC Companies by the owner(s) of those rights so that it can use these Materials as part of this Website. Other than those Materials which belong to Third Parties, ABC Companies retains copyright on all Information, including text, graphics and sound and all trademarks displayed on this Website which are either owned by or licensed to by ABCL and/or used under license by ABC Companies.

You shall not (a) copy (whether by printing off onto paper, storing on disk, downloading or in any other way), distribute (including distributing copies), download, display, perform, reproduce, distribute, modify, edit, alter, enhance, broadcast or tamper with in any way or otherwise use any Materials contained in the Website. These restrictions apply in relation to all or part of the Materials on the Website; (b) copy and distribute this information on any other server or modify or re-use text or graphics on this system or another system. No reproduction of any part of the Website may be sold or distributed for commercial gain nor shall it be modified or incorporated in any other work, publication or web site, whether in hard copy or electronic format, including postings to any other web site; (c) remove any copyright, trade mark or other intellectual property notices contained in the original material from any material copied or printed off from the web site; link to this Website; without our express written consent.

No Warranty

Although all efforts are made to ensure that information and content provided as part of this Website is correct at the time of inclusion on the Website, however there is no guarantee to the accuracy of the Information. This Website makes no representations or warranties as to the fairness, completeness or accuracy of Information. There is no commitment to update or correct any information that appears on the Internet or on this Website. Information is supplied upon the condition that the persons receiving the same will make their own determination as to its suitability for their purposes prior to use or in connection with the making of any decision. Any use of this Website or the information is at your own risk. Neither ABCL and ABC Companies, nor their officers, employees or agents shall be liable for any loss, damage or expense arising out of any access to, use of, or reliance upon, this Website or the information, or any website linked to this Website.

No Liability

This Website is provided to you on an "as is" and "where-is" basis, without any warranty. ABCL, for itself and any ABC Companies and third party providing information, Materials (defined later), facilities, or content to this Website, makes no representations or warranties, either express, implied, statutory or otherwise of merchantability, fitness for a particular purpose, or non-infringement of third party rights, with respect to the website, the information or any products or facilities to which the information refers. ABCL will not be liable to you or any third party for any damages of any kind, including but not limited to, direct, indirect, incidental, consequential or punitive damages, arising from or connected with the site, including but not limited to, your use of this site or your inability to use the site, even if ABCL has previously been advised of the possibility of such damages. Any access to information hosted on third party websites of billers/banks/merchants/ABC Companies etc. is not intended and shall not be treated as an offer to sell or the solicitation of an offer to buy any product/offering of these ABC Companies or third parties.

The Facilities Provider or ABCL or ABC Companies shall have absolutely no liability in connection with the information and Material posted on this Website including any liability for damage to your computer hardware, data, information, materials, or business resulting from the information and/or Material or the lack of information and/or Material available on the Website. In no event shall ABCL or ABC Companies shall be liable for any for any special, incidental, consequential, exemplary or punitive damages for any loss, arising out of or in connection with (a) the use, misuse or the inability to use this Website; (b) unauthorized access to or alteration of your transmissions or data; (c) statements or conduct of any third party on the site; or (d) any other matter whatever nature relating to this Website.

Further, the Facilities Provider cannot always foresee or anticipate technical or other difficulties. The facilities may contain errors, bugs, or other problems. These difficulties may result in loss of data, personalization settings or other facilities interruptions. The Website does not assume responsibility for the timeliness, deletion, mis-delivery, or failure to store any user data, communications, or personalization settings.

The Facilities Provider, ABCL, ABC Companies and the providers of information shall not be liable, at any time, for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information contained at this Website.

Manner of Use of Personal Information

All Personal Information including Sensitive Personal Information provided/related to you, shall be stored/used/processed/transmitted expressly for the Purpose or facilities indicated thereon at the time of collection and in accordance with the Privacy Policy. Other than those otherwise indicated and agreed by You, this Website do not collect or store or share your Personal Information. Aditya Birla Capital is the brand and accordingly all products and facilities are provided by respective ABC Companies as applicable. Therefore, for any of these Purposes, the Website will use ABC Companies their authorized third party vendors, agents, contractors, consultants or facilities providers (individually a ‘Third Party Service Provider’ and collectively, the “Third Party Service Providers”) and to that extent you understand and authorize the Facilities Provider to share/transmit such information to Third Party Service Providers. Such sharing of information will be solely for the purpose to fulfill / complete / authenticate your specific requests/transaction execution and for providing information about any ABC Companies product or facilities or services or for data analytics or to deliver to you any administrative notices, alerts or communications relevant to your Purpose (and which may include sending promotional emails or SMS or calls or any other mode permitted under law) or to analyze the usage and improve the facilities/solutions offered or for any research or troubleshooting problems, detecting and protecting against errors or to improve features, tailor the facilities on the Website to your interests, and to get in touch with you whenever necessary.

Except in the manner as stated in the Privacy Policy, the Website will not disclose your Personal Information with any affiliated or unaffiliated third parties,

You may receive e-mails /communications/notifications from the Third Party Services Providers regarding facilities updates, information/promotional e-mails/SMS and/or update on new product announcements/services in such mode as permitted under law.

Use of Website in India

This Website is controlled and operated from India and there is no representation that the Materials/information are appropriate or will be available for use in other locations. If you use this Website from outside the India, you are entirely responsible for compliance with all applicable local laws. There is no warranty or representation that a user in one region may obtain the facilities of this website in another region.

Information published on the Website may contain references or cross references to products, programs and facilities offered by ABC Companies/third parties that are not announced or available in your country. Such references do not imply that it is intended to announce such products, programs or facilities in your country. You may consult your local advisors for information regarding the products, programs and services that may be available to you.

In your use of the Website, you may enter correspondence with, purchase goods and/or facilities from, or participate in promotions of advertisers or members or sponsors of the web site, including those of ABC Companies. Unless otherwise stated, any such correspondence, advertisement, purchase or promotion, including the delivery of and the payment for goods and/or facilities, and any other term, condition, warranty or representation associated with such correspondence, purchase or promotion, is solely between you and the applicable ABC Companies and/or third parties.

You agree that Facilities Provider / ABC Companies has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any other ABC Companies and/or third parties.

Third party websites

This Website may be linked to other websites (including those of ABC Companies) on the World Wide Web that are not under the control of or maintained by ABCL. Such links do not indicate any responsibility or endorsement on our part for the external website concerned, its contents or the links displayed on it. These links are provided only as a convenience, in order to help you find relevant websites, facilities and/or products that may be of interest to you, quickly and easily. It is your responsibility to decide whether any facilities and/or products available through any of these websites are suitable for your purposes. The Facilities Provider or ABCL is not responsible for the owners or operators of these websites or for any goods or facilities they supply or for the content of their websites and does not give or enter into any conditions, warranties or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external web site to which this web site includes a link infringes the intellectual property rights of any third party).

USE of APP

In case any facilities/services, access/dissemination of information or execution of transaction is done through use of any APP related to ABC Companies, the additional terms and conditions governing the Use of APP shall be applicable and to be read along these Terms of Use.

Postings and monitoring

The Facilities Provider or ABCL or ABC Companies does not routinely monitor your postings to the Website but reserves the right to do so if deemed necessary if it is related to the facilities offered on the web site and to comply with law. However, in our efforts to promote good citizenship within the internet community, if the Facilities Provider or ABCL or ABC Companies becomes aware of inappropriate use of the Website or any of its facilities, any information, opinions, advice or offers posted by any person or entity logged in to the Website or any of its associated sites is to be construed as public conversation only, and the Facilities Provider or ABC Companies shall not be liable or responsible for such public conversation. You agree that in such cases, we will respond in any way that, in our sole discretion, as deemed appropriate. You acknowledge that Facilities Provider or ABC Companies will have the right to report to law enforcement authorities any actions that may be considered illegal, as well as any information it receives of such illegal conduct. When requested, ABC Companies/Facilities Provider will co-operate fully with law enforcement agencies in any investigation of alleged illegal activity on the internet.

Submissions and unauthorized use of any Materials contained on this Website may violate copyright laws, trademark laws, the laws of privacy and publicity, certain communications statutes and regulations and other applicable laws and regulations. You alone are responsible for your actions or the actions of any person using your user name and/or password. As such, you shall indemnify and hold Facilities Provider, ABCL / ABC Companies and its officers, directors, employees, affiliates, agents, licensors, and business partners harmless from and against any and all loss, costs, damages, liabilities, and expenses (including attorneys' fees) incurred in relation to, arising from, or for the purpose of avoiding, any claim or demand from a third party that your use of the Website or the use of the Website by any person using your user name and/or password (including without limitation your participation in the posting areas or your submissions) violates any applicable law or regulation, or the rights of any third party.

We reserve the right to terminate access to this Website at any time and without notice. Further this limited license terminates automatically, without notice to you, if you breach any of these Terms of Use. Upon termination, you must immediately destroy any downloaded and printed Materials.

If you come across any breaches/violation or offensive material you must report to us at abc.secretarial@adityabirla.com

Use of Cookies

You agree and understand that the Website will automatically receive and collect certain anonymous information in standard usage logs through the Web server, including computer/computer resource-identification information obtained from "cookies" sent to your browser from a web server or other means as explained in the Privacy Policy.  

Facilities Changes and Discontinuation

The Website reserves the right to discontinue or suspend, temporarily or permanently, the facilities. You agree that the Facilities Provider/ ABC Companies will not be liable to you in any manner whatsoever for any modification or discontinuance of the facilities. The format and content of this Website may change at any time. We may suspend the operation of this Website for support or maintenance work, in order to update the content or for any other reason.

ABCL, ABC Companies, and its directors, employees, associates, or other representatives shall not be liable for any damages or injury, arising out of or in connection with the use, or non-use including non-availability of the Website and also for any consequential loss or any damages caused because of non-performance of the system due to a computer virus, system failure, corruption of data, delay in operation or transmission, communication line failure, or any other reason whatsoever. The Website will not be responsible for any liability arising out of delay in providing any information on the Website.

Compliance with the Law

You agree that you will not:

  • Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, programme, algorithm or methodology to access, acquire, copy or monitor the Website, or any portion of the Website.
  • Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation, browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Website, other than the search engines generally available by third party web browsers
  • Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interferes with the proper working of the Website or the facilities.
  • Attempt to decipher, decompile, disassemble, or reverse engineer any of the software, comprising or in any way making up a part of the Website or the facilities.
  • You agree not to use the facilities for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another's privacy, abusive, threatening, or obscene, or that infringes the rights of others.

Restrictions on Commercial Use or Resale

Your right to use the facilities is personal to you; therefore, you agree not to resell or make any commercial use of the facilities. In addition, the Website welcomes your feedback as a user of the facilities. Any feedback you provide will become the confidential and proprietary information of the Website, and you agree that the Website may use in any manner and without limitation, all comments, suggestions, complaints, and other feedback you provide relating to the Website. The Website shall have a worldwide, royalty-free, non-exclusive, perpetual, and irrevocable right to use feedback for any purpose, including but not limited to incorporation of such feedback into the Website or other Website software or facilities.

No Endorsements

All product and facilities marks contained on or associated with the facilities that are not the Website marks are the trademarks of their respective owners. The Website would require you to respect the same. References to any such names, marks, products or facilities of third parties or hypertext links to third party sites or information does not imply the Website’s endorsement, sponsorship or recommendation of the third party, information, product or facilities.

Promotional Offers

You may receive from time to time, announcement about offers with intent to promote this Website and/or facilities/products of ABC Companies (“Promotional Offers”). The Promotional Offer(s) would always be governed by these Terms of Use plus certain additional terms and conditions, if any prescribed. The said additional terms and conditions, if prescribed, would be specific to the corresponding Promotional Offer only and shall prevail over these Terms of Use, to the extent they may be in conflict with these Terms of Use. The Website reserves the right to withdraw, discontinue, modify, extend and suspend the Promotional Offer(s) and the terms governing it, at its sole discretion.

Charges for use of Website

There are no charges or fees to be paid by you for use of this Website. However, you are responsible for all telephone access fees and/or internet service fees that may be assessed by your telephone and/or internet service provider. You further agree to pay additional charges, if any levied by Third Party Service Provider(s), for the facilities provided by them through the Website (Additional Charges).

No Endorsement

You are advised to be cautious when browsing on the internet and to use good judgment and discretion when obtaining information or transmitting information. From this Website, users may visit or be directed to third party web sites. The Website makes no effort to review the content of these web sites, nor is the Website or its licensors responsible for the validity, legality, copyright compliance, or decency of the content contained in these sites.

In addition, the Website does not endorse or control the content of any other user and is not responsible or liable for any content, even though it could be unlawful, harassing, libelous, privacy invading, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable, or that it infringes or may infringe upon the intellectual property or other rights of another. You acknowledge that the Website does not pre-screen content, but that the Website will have the right (but not the obligation) in their sole discretion to refuse, edit, move or remove any content that is available via the facilities.

Electronic Communications

These Terms of Use and any notices or other communications regarding the Facilities may be provided to you electronically, and you agree to receive communications from the Website in electronic form. Electronic communications may be posted on the Website and/or delivered to your registered email address, mobile phones etc either by Facilities Provider or ABC Companies with whom the services are availed. All communications in electronic format will be considered to be in "writing". Your consent to receive communications electronically is valid until you revoke your consent by notifying of your decision to do so. If you revoke your consent to receive communications electronically, the Facilities Provider shall have the right to terminate the facilities.

Assignment

You shall not assign your rights and obligations under this Agreement to any other party. The Website may assign or delegate its rights and/or obligations under this Agreement to any other party in future, directly or indirectly, or to an affiliated or group company.

Legal Disclaimers

The information provided on or through the Website is for general guidance and information purposes only and they do not in any manner indicate any assurance or opinion of any manner whatsoever. Any information may be prone to shortcomings, defects or inaccuracies due to technical reasons. Certain information on Website may be on the basis of our own appraisal of the applicable facts, law and regulations in force at the date hereof.

The information (and opinions, if any) contained on the Website may have been obtained from public sources believed to be reliable and numerous factors may affect the information provided, which may or may not have been taken into account. The information provided may therefore vary (significantly) from information obtained from other sources or other market participants. Any reference to past performance in the information should not be taken as an indication of future performance. The information is dependent on various assumptions, individual preferences and other factors and thus, results or analyses cannot be construed to be entirely accurate and may not be suitable for all categories of users. Hence, they should not be solely relied on when making investment decisions. Your investment or financial decision shall always be at your own discretion and based on your independent research; and nothing contained on the Website or in any information would construe ABCL/ABC Companies or any of its employees/authorized representative as having been in any way involved in your decision making process. Any information and commentaries provided on the Website are not meant to be an endorsement or offering of any stock or investment advice.

Nothing contained herein is to be construed as a recommendation to use any product, process, equipment or formulation, in conflict with any patent, or otherwise and Facilities Provider / ABCL/ABC Companies makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise. Information on this Website sourced from experts or third party service providers, which may also include reference to any ABCL Affiliate. However, any such information shall not be construed to represent that they belong or represent or are endorsed by the views of the Facilities Provider or ABC Companies. Any information provided or sourced from ABCL Affiliate belongs to them. ABCL is an independent entity and such information from any ABCL Affiliate are not in any manner intended or to be construed as being endorsed by ABCL or Facilities Provider. The information does not constitute investment or financial advice or advice to buy or sell, or to endorse or solicitation to buy or sell any securities or other financial instrument for any reason whatsoever. Nothing on the Website or information is intended to constitute legal, tax or investment advice, or an opinion regarding the appropriateness of any investment or a solicitation of any type. Investment in the securities market and any financial instruments are inherently risky and you shall always assume complete and full responsibility for the outcomes of all the financial or investment decisions that you make, including but not limited to loss of capital. You are therefore advised to obtain your own applicable legal, accounting, tax or other professional advice or facilities before taking or considering an investment or financial decision.

No Solicitation

No Information at this Website shall constitute an invitation to invest in ABCL or any ABC Companies. These are meant for general information only or to meet statutory requirements or disclosures. ABCL or any of its employees are in no way liable for the use of the information by you, when making any decision or investing or trading through any investment vehicles or ABC Companies, or any other third party which may be engaged in offering of these services.

The information contained on this Website does not represent and should not be used to construe (i) the terms on which a new transaction would be entered into by ABCL or ABC Companies, (ii) the terms on which any existing transactions could be unwound by ABCL or ABC Companies, (iii) the calculation or estimate of an  amount that would be payable following an early termination of any past/existing transactions or (iv) the valuations given to any transactions by ABCL or ABC Companies in their books of account for financial reporting, credit or risk management purposes.

Statutory Disclosure

ABCL and ABC Companies are engaged in a broad spectrum of activities in the financial services sectors. You understand and acknowledge that Aditya Birla Money Limited (‘ABML’), Aditya Birla Finance Limited (‘ABFL’) and Aditya Birla Sun Life Asset Management Company Limited and trustees and sponsor of Aditya Birla Sun Life Mutual Fund (‘ABSLMF’) are group companies and ABML / ABFL also acts as a distributor of ABSLMF.  Any recommendation or reference of schemes of ABSLMF if any made or referred on the Website, the same is based on the standard evaluation and selection process, which would apply uniformly for all mutual fund schemes. You are free to choose the execution facilities in the manner deemed fit and proper and no commission will be paid by ABSLMF to ABML / ABFL if you choose to execute a transaction with ABSLMF on the Website, unless otherwise agreed by you and ABML/ABFL separately. Information about ABML/ABFL, its businesses and the details of commission structure receivable from asset management companies to ABML/ABFL, are also available on their respective Website.

Similarly Aditya Birla Money Insurance Advisory Services Limited and Aditya Birla Insurance Brokers Limited are insurance intermediaries and engaged in the distribution of Insurance Products and it may services may include products of Aditya Birla Sun Life Insurance Company Limited and Aditya Birla Health Insurance Company Limited. However there is no conflict on these services and commissions if any payable are in accordance of the extant regulations.

Force Majeure

The Facilities Provider, ABC Companies and any of its Third Party Service Providers shall not be liable for any delay or failure in performance resulting directly or indirectly from acts of nature, forces, or causes beyond their reasonable control, including, without limitation, Internet failures, computer equipment failures, telecommunication equipment failures, other equipment failures, electrical power failures, strikes, virus, other malicious computer code, hacking, labour disputes, riots, insurrections, civil disturbances, shortages of labour or materials, fires, flood, storms, explosions, acts of God, war, earthquake, governmental actions, orders of domestic or foreign courts or tribunals, non-performance of third parties, or loss of or fluctuations in heat, light, or air conditioning.

Indemnification

You agree to protect and fully compensate Facilities Provider, ABCL, ABC Companies, subsidiaries, licensors, suppliers and facilities providers, employees, officers and directors, from any and all third party claims, liability, damages, expenses and costs (including but not limited to reasonable attorneys fees) caused by or arising from your use of the facilities, your violation of the Terms of Use or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.

No Waiver

The Facilities Provider, ABC Companies or any of its third party service providers and processor bank/merchants etc. shall not be deemed to have waived any of its/their rights or remedies hereunder, unless such waiver is in writing. No delay or omission on the part of Facilities Providers and ABC Companies, in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

Exclusive Agreement

You agree that these Terms of Use are the complete and exclusive statement of agreement supersede any proposal or prior agreement, oral or written, and any other communications between you and the Facilities Provider and its Third Party Service Providers or processor bank/merchants relating to the subject matter of these Terms of Use. These Terms of Use, as the same may be amended from time to time, will prevail over any subsequent oral communications between you and the Website and/or the processor bank.

Termination

Either party can terminate this Agreement by notifying the other party in writing. Upon such termination You will not be able to use the facilities of this Website.

Governing Law and Jurisdiction

The Website specifically prohibits you from usage of any of its facilities in any countries or jurisdictions that do not corroborate to all stipulations of these Terms of Use. The Website is specifically for users in the territory of India. In case of any dispute, either judicial or quasi-judicial, the same will be subject to the laws of India, with the courts in Mumbai having exclusive jurisdiction.

These Terms and Conditions are governed by and to be interpreted in accordance with laws of India, without regard to the choice or conflicts of law provisions of any jurisdiction. You agree, in the event of any dispute arising in relation to these Terms and Conditions or any dispute arising in relation to the Website whether in contract or tort or otherwise, to submit to the jurisdiction of the courts located at Mumbai, India for the resolution of all such disputes.

Latest Articles

ABC of Personal Money
ABC of Personal Money
ABC of Personal Money

How To Open A Swiss Bank Account?

Read More
Posted on 23 January 2025
ABC of Personal Money
ABC of Personal Money

CIBIL Score - Meaning, Importance and How to Improve Credit Score

Read More
Posted on 17 January 2025
ABC of Personal Money
ABC of Personal Money

How to Open a Zero-Balance Bank Account for a Minor

Read More
Posted on 16 January 2025