DA Hike: For the nation’s central personnel and pensioners, there is good news. In actuality, there will be another Dearness Allowance (DA Hike) increase. Let us inform you, however, that the central staff will be receiving positive news regarding another topic. Let us first explain Dearness allowance to you. In actuality, the AICPI index is at 139.1.
Significant Boost in Staff Compensation
A four percent rise in the employees’ Dearness Allowance (DA Hike) is deemed inevitable in such a scenario. As a result, staff compensation will increase significantly. This will directly help over one crore workers and retirees in the nation.
Potential Dearness Allowance (DA Hike) by Modi Government
The dearness allowance (DA Hike) for central employees may be raised by the Modi government at the centre once more by 4% starting in January 2024. But this hike is scheduled for March. Based on AICPI data through November 2023, there is a projected 4% increase. The Dearness Allowance (DA) will reach 50% if it is raised by 4 percent.
Fitment Factor Increase for Central Employees
Speaking of the second piece of good news, we can also inform you that the central employee is eligible to receive the fitting factor present. This is something that the staff has long demanded. At this point, talks on raising it this year are well underway. The employees’ incomes will significantly increase if this takes place. The Seventh Pay Commission’s adjustment in the fitment factor will undoubtedly result in a raise of Rs 8,860 in government employees’ base pay.
This rise is available to employees following a DA boost. The fitting factor is 2.57 times at this time. In the upcoming days, it is probably going to rise to 3.68 times. The level-3 basic wage will rise from Rs. 18000 to Rs. 26000 in the event that this occurs. The remuneration of employees would directly increase by Rs 8,000. Furthermore, this will have an effect on the DA payment.
- Basic Pay: Rs 18,000
- Dearness Allowance (46%): Rs 8,280
- House Rent Allowance (27%): Rs 5,400
- Transport Allowance: Rs 1,350
- DA on Transport Allowance: Rs 621
- Gross Salary: Rs 33,651
Salary Calculation for Level-3 Central Employee
A central employee at Level-3 who receives a base pay of Rs 18,000 will receive a salary of Rs 18,000 X 2.57 = Rs 46,260, minus allowances. The pay will be 26000X3.68= Rs 95,680 if the fitment ratio is raised to 3.68 times. Workers will earn handsomely from this. This indicates that, in comparison to their current salaries, employees will receive a raise of Rs 49,420 overall. This computation is based on the minimum wage. Maximum wage earners are eligible for greater benefits.
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