7th Pay Commission Latest News - DA, PF, Gratuity, other allowance news
7th Pay Commission Latest News - DA, PF, Gratuity, other allowance news, 7th Pay News,DA hike news,Gujarat D.A News 2021,D.A Hike 2021,Hike in D.A,D.A News, D.A Hike latest News,PF News,PF Gujarat News,PF Latest News,PF Latest News 2021.
7th PAY Latest News
Before Holi, the country's government employees are going to get big good news. According to media reports, the Modi government may increase the inflation allowance by 4 per cent. Central Government Employees.
The government may increase the inflation relief allowance
According to media reports, after the announcement of the All India Consumer Price Index and the introduction of the Union Budget 2021 in Parliament, the inflation allowance has gone up by 4 per cent. According to sources, the government may increase dearness relief by 4 per cent. Also can pay other outstanding allowance.
The recommendation of the 7th Pay Commission will be implemented
The government's announcement on DA hike will be based on the recommendation of the 7th Pay Commission. Currently the central employee gets a DA of 17 per cent. That's 4% of DA and an increase in total DA.
The state can run on the formula of the center
According to the report, freezing the DA and DR installments for central government employees and pensioners will bring the combined savings to Rs 37,530 crore this financial year. These savings are also being made in the year before that. Let me tell you that state governments can generally comply with the Centre's order on DA and DR. It is estimated that the state government can also save Rs 82,566 by suspending the DA-DR of employees and pensioners adopting this formula of the Center
7th Pay Commission: The long awaited good news from central employees has finally arrived. The inflation allowance of central employees is going to increase from July 1. Employees' inflation allowance will go straight to 28 per cent. This additional benefit will also be seen in their salary. The good news for employees is that they will also be paid their three installments. Central employees currently get an inflation allowance of 17 per cent, which will now go up from 11 per cent to 28 per cent.
.Employees will get the benefit of two years inflation allowance (DA) at the same time. Because the inflation allowance of central employees increased by 4% in January 2020, then increased by 3% for the second time in June 2020, now in January 2021 the inflation allowance has increased again by 4%. That is 28 per cent of the total. However, all three installments have not yet been paid.Notably, at present the minimum salary of central employees as per pay-matrix is Rs. 18000. It is expected to add 15 per cent inflation allowance. This will directly increase the salary by Rs 2700 per month. On an annual basis, the total inflation allowance will increase by Rs 32,400.
The inflation allowance is to be announced in June 2021. Even then, it is projected to grow by 4 per cent, according to sources. If this happens, the 4 per cent payment will be made in the next 6 months after the payment in three parts on July 1. The inflation allowance could reach 32 per cent of the total. Currently DA is found at 17 per cent. The Central Government revises it every six months. It is calculated on the basis of Basic Pena. Currently employees and pensioners get different DAs.
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Corona caused the government to freeze the inflation allowance from 1 January 2020 to 1 July 2021 last year. The amount of dearness relief (DR) for pensioners will not increase till July 1, 2021. This decision has saved the government a total of Rs 37,000 crore in the financial year 2021-22. However, central employees are demanding that the arrears be paid after January 1. But the central government has clarified that the arrears will not be paid. The decision regarding DA and DR in July 2021 will be implemented one by one.
The Union Cabinet approves a 3 per cent hike in Dearness Allowance (DA) and Dearness Relief (DR) for the central government employees and pensioners today. Prior to this, the government had decided to hike the DA for central government employees by 11 per cent from 17 per cent to 28 per cent.
After this hike, the DA will increase to 31 per cent. The latest DA hike will benefit 47.14 lakh Central Government employees and 68.62 lakh pensioners. The exchequer will bear Rs 9,488.70 crore on account of the latest Dearness Allowance and Dearness Relief.
This will be a welcome development for the central government employees and pensioners after the government approved pending DA hike, which came into effect from July 1, 2021. Three instalments of DA for the central government employees and DR for pensioners, due on January 1, 2020, July 1, 2020, and January 1, 2021, were stalled due to the COVID-19 pandemic.
DA is always calculated at a specific percentage of the basic salary of an employee. This is then added to the basic salary, along with other components of the salary, which further makes up the total salary of an employee.