Employees will get the benefit of 4% increased DA in October, many allowances will be available with arrears, know here whose salary will increase?
The monthly salary increase for employees with maximum salary of Rs 56,900 will be Rs 2276, while the annual salary increase will be Rs 27,132.
The dearness allowance of 1 crore central government employees-pensioners across the country has gone up from 34% to 38 percent due to an increase of 4 percent. This will be applicable from July 1, in such a situation, the arrears of 2 months will be available in the salary of October along with the increased DA. Now pensioners will also get pension at the rate of 38 per cent. The special thing is that due to increase in DA, the PF and gratuity contribution of the employee also increases. It will benefit 50 lakh employees and 65 lakh pensioners.
In fact, the Union Cabinet, chaired by Prime Minister Narendra Modi, has decided to give 4% to Central Government employees and pensioners payable from 01 July 2022 on the basis of percentage increase in 12 months average of All India Consumer Price Index for the period ending June 2022. The Central Government employees and pensioners will be entitled to the enhanced amount of Dearness Allowance and Dearness Relief respectively with effect from July 01, 2022.
This increase in dearness allowance of Central Government employees is expected to result in additional financial burden of Rs 6,591.36 crore per annum and Rs 4,394.24 crore in the financial year 2022-23 (ie 8 months period from July, 2022 to February, 2023). It is estimated that due to this increase in dearness relief to the pensioners, an additional financial burden of Rs.6,261.20 crore per annum and Rs.4,174.12 crore in the financial year 2022-23 (July 2022 to February 2023) is estimated. Both Dearness Allowance and Dearness Relief The combined burden on the exchequer will be Rs 12,852.56 crore per annum and Rs 8,568.36 crore in the financial year 2022-23.
Whose salary will increase
- If the basic salary of an employee is Rs 1,8000, then according to 34 per cent, he gets Rs 6,120 as DA, then if the DA is 38 per cent, the employee will get Rs 6840 as dearness allowance. That is, he will get Rs 720 more. That is, according to the year, there will be a profit of Rs 8,640.
- If the basic salary of a government employee is Rs 56,000, then dearness allowance at the rate of 38 per cent will be Rs 21,280. The monthly salary increase for employees with maximum salary of Rs 56,900 will be Rs 2276, while the annual salary increase will be Rs 27,132.
- If you are a central employee or a pensioner and your basic is Rs 20,000, then till now you are getting 34 percent as DA or DA, which is Rs 6,800. After increasing the dearness allowance to 38 percent, you will get Rs 7,600. Meaning you will get a profit of Rs 800 per month.
- If your basic salary or your pension is Rs 30,000, then you used to get Rs 10,200 according to 34% dearness allowance but now you will get Rs 11,400 at 38%. Thus your salary will increase by Rs 1,200.
- Along with this, there will also be an increase in the PF, gratuity contribution, transport allowance and city allowance of the employees. With the increase in DA, other allowances are also affected.