7th Pay Commission Latest Update: Good news for 1 crore employees and pensioners, salary will increase by Rs 27412
Know what the figures say
The figures for the first half of AICPI (All India Consumer Price Index) were released. These include numbers from January to June.
The AICPI index has reached 129.2 points in June. It has become clear from this that the hike in dearness allowance will increase by 4 percent in the increase for July 2022. Experts have also claimed that after increasing by 4 per cent, DA will be 38 per cent. Its direct benefit will be more than 1 crore central employees and pensioners.
Accordingly, dearness allowance will increase
The labor ministry releases the previous month’s AICPI data at the end of every month. In this, in comparison to the index inflation, it shows how much allowance should be given to central employees to deal with inflation. It is clear from the first half figures that DA should increase by 4 per cent.
Meaning the total DA will increase to 38 percent. The employees union is also hopeful that a decision will be taken on this by the end of September. This will be a big relief to the central workers.
Know how much the salary of employees will increase
Calculation on 7th CPC Minimum Salary Rs 18000
1. Basic salary of employee Rs 18000
2. New dearness allowance (38%) Rs 6840/month
3. Dearness allowance till date (34%) Rs 6120/month
4. How much dearness allowance increased 6840-6120 = Rs 720 /month
5. Increase in annual salary 540X12 = Rs 8640
Calculation on the maximum salary Rs 56900 under 7th pay commission
1. Basic salary of the employee Rs 56900
2. New dearness allowance (38%) Rs 21622/month
3. Dearness allowance so far (34%) Rs 19346/month
4. How much dearness allowance increased 21622-19346 = Rs 2276 / Month
5. Increase in annual salary 1707X12 = Rs 27312
This is an estimate based salary, only after adding allowances like HRA, the final salary will be made.
HRA is not included in this calculation
According to the 38 percent dearness allowance under the 7th pay commission CPC, the total annual dearness allowance on the basic salary of Rs 56900 will be Rs 259,464. But, if we talk about the difference as compared to 34 percent, then the annual increase in salary will be Rs 27312.
At the same time, the calculation of the final salary will be known after adding other allowances including HRA. This simple calculation has been done for an idea only.
These allowances of employees will increase
By the end of this year, not only the Dearness Allowance for central employees will increase. But other allowances will also increase. At the same time, it includes Travel Allowance and City Allowance. At the same time, there will be an increase in Provident Fund and Gratuity for retirement. This is because, the increase in dearness allowance affects all these allowances.