7th Pay Commission Employee Salary Hike 2023: There is good news for central employees-pensioners and account holders (Central Government employees Pensioners). Before Holi, 2 big gifts can be received in March, due to which a bumper jump in salary will be seen.
On the one hand, after the release of 6 months data of AICPI index, 4 percent increase in dearness allowance and dearness relief of government employees and pensioners is believed to be fixed, it will benefit 50 lakh employees and 65 lakh pensioners. The same EPFO account holders can also be sent interest money of PF account soon.
In fact, at present the central employees are getting the benefit of 38% DA, which will increase to 42% after 4% increase. 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 before Holi in the cabinet meeting to be held on March 22 or March 1, 2023. If this happens, from March 31, employees can get increased salary and pensioners can get increased pension.
Rs 720 per month and Rs 8640 per annum for employees with a salary of Rs 18000, Rs 2276 per month and Rs 27312 per annum for employees with a salary of Rs 56900, Rs 10800 for employees with a salary of Rs 30,000 and Rs 90,000 for the annual salary of secretary level employees or above. It can increase even more.
Interest money will come before Holi?
The wait of 6.5 crore employees and account holders of the Employees Provident Fund Organization is going to end soon. There is a possibility that the interest money received on the PF account of EPFO can be sent to the accounts before Holi, preparations have been started for this. This time the account holders and employees will get money at the rate of 8.10 percent. This will be the first time in 40 years that employees will get such low interest on PF.
There will be profit up to 81000
It is reported that the central government can transfer interest money to the accounts of PF account holders at the rate of 8.1 percent by the end of this month or the first week of March. However, no official confirmation or statement has come out from the government so far. It is believed that a total of Rs 72,000 crore deposited in the account of the Central Government will be sent to the account of the employed.
It is believed that if an employee has Rs 1 lakh in his account, then the amount of interest will come to Rs 8,100. If you have Rs 10 lakh in your account, then Rs 81,000 and Rs 5 lakh are deposited, then interest of Rs 4000 can be transferred. If a consumer has Rs 7 lakh in his account, he will get Rs 56,700.
Calculation on minimum 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
Calculation on maximum basic salary
- 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
