DA Hike news today: Dearness allowance of central employees may be announced in some time. But, the amount of increase in his salary can be calculated as an estimate.
DA Hike news today: The wait of central employees is finally over. The Modi government at the Center is going to announce dearness allowance for July 2023 just before Diwali. Now the dearness allowance (Central government employees DA) of the employees can be increased by 4 percent. Under the 7th Pay Commission, now all central government employees and pensioners will be paid DA and DR at the rate of 42 percent. It will be paid at the new rates in the salary for the month of October. DA will be paid at the rate of 46 percent in the October salary and arrears of 3 months (July, August, September) will also be given. Now central employees can estimate the increase in salary according to their basic pay and grade.
How is DA calculated?
DA installment will be paid before Diwali. But, before that we can guess how it will be calculated and how it will be decided. Dearness Allowance (DA Hike) has increased by 4 percent. It is calculated only on basic salary. If someone’s salary is Rs 20,000, then it will increase by Rs 800 per month at the rate of 4 percent.
Which formula works?
There is a formula for calculating dearness allowance. The formula for central employees is [(Average of All India Consumer Price Index (AICPI) of last 12 months – 115.76)/115.76]×100. Now if we talk about the dearness allowance of people working in PSU (Public Sector Units), then the method of its calculation is – Dearness Allowance Percentage = (Average of Consumer Price Index of last 3 months (Base Year 2001=100)- 126.33))x100
How much will the salary increase? Understand DA Calculation
According to the 7th pay matrix, there will be a bumper increase in the salary of officer grade. If someone’s basic salary is currently Rs 31,550. If we calculate on this then…
Basic Salary – Rs 31550
- Total Dearness Allowance (DA) – 46% – Rs 14513 per month
- Dearness Allowance (DA) paid so far – 42% – Rs 13251.
- With 4% increase in Dearness Allowance (DA), you will get Rs 1262 more (every month).
- Annual Dearness Allowance – After 4 percent increase, you will get Rs 15,144 more (total 46 percent).
Three months arrears will also be included in this
Due to the announcement of Dearness Allowance (DA Hike) to be implemented from July 1, 2023 in October, employees and pensioners will also get arrears of 3 months. In such a situation, he will get Rs 1262+1262+1262=3,786 more. Apart from this, the government has also announced annual bonus for the employees. This benefit will also be given to the employees in October only. Currently, bonus equivalent to 78 days salary is awaited for railway employees. It is expected that the government may approve giving it till Dussehra also.