SSC Scam: How Much Money Must Be Returned With Interest? Know the Detailed Calculation of the Corruption’s Financial Fallout

SSC Scam Financial Loss: The recent verdict by the Calcutta High Court has not only nullified nearly 26,000 jobs but has also brought a severe financial catastrophe upon those who were illegally appointed. For the jobs obtained through corruption, they now have to return lakhs of rupees, including interest. In this post, we will analyze in detail exactly how much money the accused stand to lose.

The Epicenter of Financial Loss: How Much Money Must Be Returned With Interest?

The court’s directive is crystal clear: those who illegally secured jobs in the 2016 panel must return their entire salary received since 2019 to the treasury, along with 12 percent annual interest. Added to this is the hefty amount paid as bribes to secure the job. According to lawyer Ferdous Shamim, the combination of these two factors makes the total loss astronomical.

Let’s take a detailed look at the calculation of losses for two different teaching positions:

For Teachers of 9th-10th Grade

• Bribe Amount: On average, each of them had to pay a bribe of 10 to 12 lakh rupees to get the job.
• Salary Received: From 2019 to March 2024, a 9th-10th grade teacher received a total salary of approximately 24 lakh rupees.
• Total Refundable Amount: The salary received (24 lakh) plus 12% interest on it.
• Final Financial Loss: Altogether, including the bribe money and the salary to be returned with interest, their total loss could amount to nearly 34 lakh rupees.

For Teachers of 11th-12th Grade

• Bribe Amount: A bribe of around 10 to 12 lakh rupees was also paid for this position.
• Salary Received: From 2019 to March 2024, an 11th-12th grade teacher received a total salary of approximately 26 lakh rupees.
• Total Refundable Amount: The salary received (26 lakh) plus 12% interest on it.
• Final Financial Loss: In their case, the total loss could amount to nearly 36 lakh rupees.

Other Aspects of the Corruption

Besides this massive financial loss, there are several other critical aspects of the scandal that have shaken the state’s education system:

• Cancellation of 26,000 Jobs: The nullification of the entire 2016 SSC panel has created a significant void in the state’s education sector.
• The “Tainted” List: Although the SSC has so far published a list of 1,806 individuals, lawyers believe the actual number could exceed 6,000.
• A Bleak Future: The court has clearly stated that these “tainted” individuals cannot participate in any future recruitment processes, effectively putting a full stop to their careers.

This verdict has not only canceled a corrupt recruitment process but has also sent a stern message for the future that the consequences of corruption can be devastating in the end.