The category of house rent allowance is according to X, Y and Z class cities. The central employees who fall in the X category are getting 27% HRA, which will be 30% if the DA is 50%. For Y class it will increase from 18% to 20%. For Z class people, it will increase from 9% to 10%.
Central Employee Salary Hike: Before the upcoming elections, once again there can be a jump in the salary of central employees-pensioners. There is news that between Rakshabandhan to Diwali, the Modi government can give many big gifts to the employees at once. This includes increase in dearness allowance, increase in fitment factor and increase in other allowances, after which there will be an increase in the salary of the employees up to about 1 lakh.
Basic salary will be 26000 if fitment factor increases
According to media reports, before the upcoming elections, the Modi government at the center may revise the rates of fitment factor to help the employees, due to which the basic salary will increase from 18000 to 21000 or 26000 directly.
At present the fitment factor of the employees is 2.57 percent. Which can be increased to 3.00% or 3.68%. More than 52 lakh employees will get its benefit. Since elections are due in 2024, the fitment factor may be implemented from 2026. However, official confirmation is yet to be made.
Salary will increase from 49000 to 63000 in the account
If media reports are to be believed then the Department of Expenditure can consider the demands of the employees soon and the recommendations given on the basis of review can be sent to the Finance Ministry. The decision on the same fitment factor can be taken next year in 2024 at the time of formation of the new pay commission. With the increase in the fitment factor, the salary of the employees will increase by two and a half times.
For example, if the basic salary of an employee is Rs 18,000, then his salary excluding allowances will be 18,000 X 2.57 = Rs 46,260. On being 3.68, the salary will be Rs 95,680 (26000 X 3.68 = 95,680) i.e. there will be a profit of Rs 49,420 in salary. After 3 times the salary will be 21000 X 3 = Rs 63,000. Same basic salary of 15500 can increase to Rs 39835.
House rent allowance may increase
According to media reports, the next revision in house rent allowance along with dearness allowance may be up to 3%. Thereafter the maximum HRA will increase to 30% from the existing rate of 27%. But this will happen only when DA crosses 50%. It is estimated that it may be decided by 2024.
According to the memorandum of the Finance Department, HRA will be 30%, 20% and 10% when DA crosses 50%. The category of house rent allowance is according to X, Y and Z class cities. The central employees who fall in the X category are getting 27% HRA, which will be 30% if the DA is 50%. For Y class it will increase from 18% to 20%. For Z class people, it will increase from 9% to 10%.
AICPI index data will be released on April 28
According to media reports, after January, once again in July 2023, the dearness allowance of central employees-pensioners can be increased by 4 percent, although how much the final DA will increase in July will depend on the half-yearly figures of the AICPI index, which is prepared by Labor will be issued by the Ministry.
So far the figures for January-February have been released and now the figures for March will be released on April 28. After this the CPI-IW numbers of April, May and June will also be added and the final DA/DR will be decided. It is estimated that dearness allowance may increase by 4%. This will be the second increase of the year.
4 percent increase in DA possible
According to media reports, if the index number reaches above 132.7, then the DA is set to increase by 4% in July. At present, the employees are getting 42% DA, if the DA increases by 3%, the total DA will be 45% and If it is increased by 4 percent then the dearness allowance will be 46%.
The new rates may come into force from July 1, 2023 and may be announced around Rakshabandhan, although it has not yet been officially confirmed that how much DA will increase and when it will be announced. Its benefits will be to 48 lakh employees and 69 lakh pensioners. will get. DA will be determined by the formula (42 x 29200) / 100. Similarly, dearness relief for pensioners is also calculated.
