7th Pay Commission: Check salary Calculation of govt employees after DA Hike
The Dearness allowance is likely to increase after the G20 Summit 2023 concludes in the national capital. Dearness Allowance hike, which will come into effect from July 1, 2023, is expected to be 3 per cent this time, Finance Ministry officials said. percent After the 3% increase, government employees will get 45% pf DA
7th Pay Commission: Central government employees and pensioners who are waiting for the announcement of Dearness Allowance (DA) increase by the central government have got a big update. The Dearness allowance is likely to increase after the G20 Summit 2023 concludes in the national capital. Check salary Calculation of govt employees after DA Hike.
The latest Dearness Allowance hike, which will come into effect from July 1, 2023, is expected to be 3 per cent this time, Finance Ministry officials said. percent After the 3% increase, government employees will get 45% pf DA.
Check salary Calculation of govt employees after DA Hike:
According to reports, if the Data Structure and Algorithms (DSA) increase of 3% is announced, it is guaranteed that the salary of central government employees will be increased. If an employee’s salary is Rs 50,000 per month and Rs 15,000 as basic salary. He or she now gets Rs 6,300.
It is 42 percent of basic pay. But, after the expected 3 percent hike, the employee will get Rs 6,750 per month, which is Rs 450 per month. will be So, if an employee gets Rs 50,000 per month as basic pay of Rs 15,000, his or her salary will increase by Rs 450 per month.
How to calculate DA increase?
Increases in DA and DR for employees and pensioners are worked out on the basis of the latest Consumer Price Index of Industrial Workers (CPI-IW) released every month by the Labor Bureau. Notably, this Labor Bureau is a division of the Ministry of Labour.
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According to the latest data released in July 2023, the All India CPI-IW for July 2023 increased by 3.3 points to 139.7. In 1-month percentage change, the index increased by 2.42 percent over the previous month. This is an increase of 0.90 percent recorded between the previous months of the year.
Central Government employees should know that while DA is given to government employees, DR is given to pensioners. DA and DR are usually raised twice a year January and July. Currently, more than one crore central government employees and pensioners are getting 42 percent DA.
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Generally, the increase in DA and DR is decided by the Ministry of Finance based on the percentage increase in the 12-month average of the All India Consumer Price Index (AICPI) for the period ending June 2022. Even though the central government revises the allowances on January 1 and July 1 every year, the decision is usually announced in March and September.
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