Good news for employees-pensioners! will get the benefit of increase in DA including 4% increase in other allowances! Update on HRA, salary will increase –
There is good news for the employees. If media reports are to be believed, soon they may get the benefit of increase in dearness allowance by 4 percent and many other allowances. Earlier, the government has made big announcements for the employees. The benefit of which will be made available to them till March 2023.
7th Pay Employees DA Hike: At the beginning of next year, employees will get a big gift. In fact, along with the increase in the dearness allowance of the employees, preparations are being made by the central government to increase their other allowances. Whose benefits will be directly to the employees. If the data of Consumer Price Index is to be believed then in the beginning of the next year itself, an increase of 4 percent in the dearness allowance of the employees can be seen. After which their inflation rate will increase to 42%.
Between the months of January to March 2023, the dearness allowance of the employees can be increased by the Government of India at the rate of four percent. Along with this, there will be an increase of up to 42% in the dearness allowance of 1 crore employees and pensioners. Dearness allowance and dearness relief are calculated for the employees under the seventh pay scale. The update on the data on the All India Consumer Price Index is released every month by the Ministry of Labour.
According to the released data, it has increased to 131.2 in September. As compared to June, till September, the AICPI index has seen a rise at the rate of 2.1 percent. It is seeing a jump of 1.1 percent as compared to August last month. However, in the last second half of the AICPI index, there will be an apology. In such a situation, in January 2023, an increase in dearness allowance can be seen once again. If media reports are to be believed then the government may announce the DA hike in the month of March next year.
Salary will increase so much
According to estimates, if the dearness allowance is increased, then the employees getting the minimum salary of Rs 18000 will see a salary increase of Rs 720 per month. Annually his salary will increase by Rs.8640. While the dearness allowance of the employees getting the maximum salary of Rs 56900 can be read as Rs 2276 every month. After which an annual increase of Rs 27312 can be seen in his salary.
Big gain on HbA
Earlier, a big gift has been given to the employees by the central government. Employees can avail this at the rate of 7.1% till March 31, 2023, under the House Building Advance as recommended by the Seventh Pay Commission. Under the new HBA rule, the cost of the house to be built and purchased should not exceed 139 times the basic salary of the employees. The maximum limit has been fixed at Rs 1 crore. However, in the maximum limit, the maximum amount has been fixed excluding the cost of the plot.
Under this, an employee is eligible to receive only one advance during his entire service. The maximum amount that the employee can get as HBA has been fixed at a maximum limit of 34 months basic salary i.e. Rs 25 lakh. Whereas, if the employees have their own house, then for the expansion of the house, limited to the basic salary of 34 months i.e. up to a maximum of Rs 10 lakh will be made available to the employees.
HRA may increase
If media reports are to be believed then the employees are demanding an increase in house rent allowance. Earlier, HRA was extended for the last time in July 2021. After the increase of 28%, the benefit of HRA was being given to the employees under the seventh pay scale.
Under this, 27% HRA on their basic pay was being made available to the government employees working in the city of X Sunny while the employees living in the city of Y category are being given the benefit of HRA at the rate of 18%. The same Z category city employees are being provided 9 percent of their basic salary as HRA.
Under this, the minimum HRA has been fixed at Rs 5400 for X category employees, Rs 3600 for Y category employees and Rs 1800 for Z category employees on the basis of seventh pay scale.