Enforcement Directorate is a law enforcement agency which deals with the economy part. It is also an economic intelligence agency. ED was set up in 1956 with the sole purpose of enforcing economic laws in-country and fighting the crime which is related to the economy. It comes under the Department of Revenue which in turns comes under the ministry of finance.But Whats the full form of ED?
ED full form is Enforcement Directorate. Also ED full form in Hindi is “प्रवर्तन निदेशालय”.Enforcement directorate headquarter is situated in New Delhi, India. ED or Enforcing directorate working force comprises of officers from IAS(Indian administrative services), IPS(Indian Police services) and IRA(Indian revenue services). It enforces two laws i.e.
1. Foreign Exchange management act 1999(FEMA)
2.Prevention of Money-laundering Act 2002(PMLA)
Salary and Benefits in ED
AEO or Assistant Enforcement officer will earn a Gross salary of Rs. 72,220 per month.
ED or Enforcement Directorate is an intelligence and enforcement agency of India which deals in Economic matters of the country. ED or Enforcement Directorate is a government agency which comes under the Central Government of India. Due to its Central government status, the salary and benefits while working in ED or Enforcement Directorate are excellent. Let’s discuss the salary and benefits of working under ED or Enforcement Directorate.
Basic pay of ED Grade B officer or AEO is Rs. 44,990 per month. By combining all other allowances and pays, the monthly salary will go up to Rs. 72,000 per month(without any deduction) for Category X officer through SSC CGL. Whereas in Case of Category Y officer through SSC CGL, the monthly salary will be approx Rs. 58,000 per month(without deduction).
Allowances for AEO or Assistant Enforcement officer in ED-
1. Family Allowance
2. Dearness Allowance
3. Local Allowance
4. House cleaning allowance, etc.
Benefits of working in ED-
1. Medical expenses reimbursement
2. Leave Fare concession
3. Education Allowance
4. Book grant allowance
5. Briefcase allowance
6. Staff furnishing scheme
7. Conveyance expenses bear by organisation
8. Computer purchasing schemes.
9. Subsidised Facility for lunch or breakfast in organisation cafeteria.
As we have seen the facilities and salary of ED Grade B officers, we can say that it’s an excellent salary for ED Grade B officers. With the addition of experience, your seniority will rise, and hence your salary will also increase. It will take some years before you pay scale to become good. Not only salary, but ED also provides you with many allowances and benefits which will help you to save a large chunk of money. Nearly all basic necessity needs are taken care of by ED or Enforcement directorate so that you can work with the tension-free mind.
Difference between ED and CBI?
Whenever it comes to cases related to money laundering, then ED or Enforcement directorate will take up the case whereas whenever corruption came, the CBI or central bureau of Investigation agency will take up the case. ED or Enforcement directorate mainly oversees money laundering department of the country. It enforces 2 laws that are,
a. Foreign Exchange management act 1999(FEMA)
b. Prevention of Money-laundering Act 2002(PMLA)
CBI is an elite level police level agency which comes under the central government. It solves very controversial cases and high-level cases. Whenever there is a big case which either government or Supreme court wants to solve, then they call CBI to solve those particular cases. CBI deals with anti-corruption cases many times. The CBI was established in 1941 as a Special police establishment whose task was domestic security. But on 1st April 1963, it was renamed as CBI or central bureau of Investigation.
Let’s tell you a fun fact regarding ED and CBI power. ED and CBI are among 10 central government agencies, that can tape your call. Let me repeat it, ED and FBI can tape your voice calls if they want to gather pieces of evidence against you. However, they need permission from the Union Home secretary before putting any person on surveillance. We all know very well how these agencies follow these protocols in such cases.
So, in short, we can say that CBI is involved when we have some high profile case or there are some corruption charges on someone. CBI can also be called as Central government elite police cell.
Whereas in case of ED or Enforcement directorate, ED mainly pursues cases which are related to financial matters which go against FEMA 1999 law. If there is some money laundering happening, then ED will take the lead and starts working on the case.
Q&A on ED
Q1. What is the full form of ED ?
Ans:- ED full form stands for Enforcement Directorate.
So finally we have seen the information related to ED or ED full form-Enforcement directorate. ED is an intelligence agency which solves cases pertaining to money laundering inside the country. Working in Enforcement directorate department can open up new doors to your life if you want to work in an intelligence agency which works to stop lousy finance practises and to prevent money laundering.
Written By-Aditya Soni