Considering the retail inflation of industrial workers, it will increase to 42% after increasing by 4%. It will be implemented from January 1, 2023, in which case arrears of 2 months January and February will also be available.
There is a possibility that it may be announced in the cabinet meeting to be held before Holi. If this happens, from March 31, employees can get increased salary and pensioners can get increased pension.
7th Pay Commission Employee DA Hike 2023: There is good news for Central Government employees-pensioners. Before Holi, employees and pensioners can get the gift of dearness allowance and dearness relief. According to the latest media reports, an important cabinet meeting is going to be held under the chairmanship of PM Narendra Modi on March 1, in which a proposal to increase the DA of the employees may also come. However, official confirmation is yet to be made. There is a possibility that in view of the inflation of industry workers, this time dearness allowance can be increased by 4%.
1 crore employees will get benefit
This will benefit 50 lakh employees and 65 lakh pensioners. At present, the central employees are getting the benefit of 38% DA and after considering the retail inflation of industry workers, it will be increased by 4% to 42%. It will be implemented from January 1, 2023, in which case arrears of 2 months January and February will also be available.
There is a possibility that it may be announced in the cabinet meeting to be held before Holi. If this happens, from March 31, employees can get increased salary and pensioners can get increased pension. Earlier in September 2022, DA was increased by 4 percent.
How much will the salary increase if there is 42 percent DA?
If the basic salary of a central employee is Rs 18,000 per month, then according to 38% DA, he is getting dearness allowance of Rs 6,840 and after increasing by 4%, it will become Rs 720 on the basic salary of Rs 18,000. In this way, after the increase in DA, an employee with a basic salary of Rs 18,000 will get dearness allowance of Rs 8642.
After this, the annual dearness allowance will increase to Rs 90,720 for those with a basic salary of Rs 18,000. The same can increase Rs 2276 per month and Rs 27312 per annum for 56900 employees, Rs 10800 in the account of Rs 30,000 salary and Rs 90,000 or more in the annual salary of secretary level employees.
Calculation on minimum-maximum basic salary
- Employee’s basic salary Rs 18,000
- New Dearness Allowance (42%) Rs.7560/month
- New Dearness Allowance (42%) Rs 90,720/annum
- Dearness Allowance till now (38%) Rs.6840/month
- How much dearness allowance increased 7560- 6840 = 720 rupees / month
- Increase in annual salary 720X12= Rs 8,640
- Employee’s basic salary Rs 56,900
- New Dearness Allowance (42%) Rs 23,898/month
- New Dearness Allowance (42%) Rs 286,776/annum
- Till now dearness allowance (38%) Rs 21622/month
- How much dearness allowance increased 23898-21622 = 2276 rupees / month
- Increase in annual salary 2276 X12 = Rs 27,312
