The coming month is going to be great for central employees. More money will come into their pockets from November. Revised dearness allowance can be given by adding it to the October salary. It is expected that the increase in dearness allowance can be approved in the last week of October. In such a situation, there may be a big jump in his salary.
DA Hike: The coming month is going to be great for central employees. More money will come into their pockets from November. Revised dearness allowance can be given by adding it to the October salary. It is expected that the increase in dearness allowance can be approved in the last week of October. In such a situation, there may be a big jump in his salary.
There will be a huge jump in salary
Central employees are waiting for the increase in dearness allowance (DA Hike) for July 2023. It is almost certain that there will be a 4 percent increase in DA in the coming days. After the increase in DA, there will be a good increase in the salary of central employees. Till now the employees are getting dearness allowance at the rate of 42 percent. But, if 4 percent more is added to it, DA will increase to 46 percent. Three months arrears will also be paid.
How much will money increase if it increases by 4%?
After increasing DA by 4%, the salary of employees will increase according to different categories. Dearness allowance is calculated according to the basic salary. Dearness allowance and dearness relief are available from the current 42 percent. With increase in DA, salary also increases directly. But, how much money will be received if DA is increased by 4 percent directly. You can check its calculation.
How much will the money increase on basic Rs 56,900 thousand?
There is to be an increase in dearness allowance for July 2023. By June the AICPI index has reached 136.4. Based on its calculation, the total increase in DA is believed to be 4 percent. DA will increase to 46 percent. Now if we calculate DA on the basic of Rs 56,900, then the total dearness allowance along with salary in the account of central employees will be Rs 26,174. 56,900*46/100=26,174 rupees. If seen on annual basis, it becomes Rs 26,174*12= Rs 314,088. However, dearness allowance is revised every six months. Therefore, this annual calculation has been calculated only for estimation.
More than 1 crore employees and pensioners benefited
More than 50 lakh permanent central employees and more than 65 lakh pensioners will benefit from the increase of more than 4 percent in dearness allowance. It will be implemented from July 1, 2023. Its announcement is possible by the end of October. After this, DA Arrear of July, August and September will also be added along with the payment. Earlier in March 2023 also, dearness allowance was increased by 4 percent.
How much profit will there be between July and December?
Dearness allowance of central employees was restored in July. In such a situation, if the calculation is done on DA before July then…
Basic salary of employee – Rs 18000 (minimum basic salary)
Dearness allowance 46 percent (estimated increase) – Rs 8280
Dearness Allowance 42% (before July) – Rs 7560
Increase in total DA – 8280-7560= Rs 720
Annual salary increase – 720X12= Rs 8,640
(There will be an increase of Rs 720 in the salary of central employees from July 2023 to December 2023. However, this is on the basis of minimum salary. DA calculation will be different on different pay bands.)