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HomePersonal Finance7th Pay Commission: Big news! Employees will get 3 big benefits, salary...

7th Pay Commission: Big news! Employees will get 3 big benefits, salary will benefit up to Rs 70000, know latest update

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7th Pay Commission: After giving two big gifts to the Central Government employees, the third one can give another good news. After giving benefit in dearness allowance (DA) and arrears, the Modi government is increasing the same fitment factor by 3% . If the government takes such a decision, then there can be a benefit of 20000 to 70000 in the salary of the employees. No official announcement has been made so far about when the employees will get this increase.

Central employees will get 3% increase in HRA

According to media reports, the DA of central employees has increased from 31 percent to 34 percent and now it is expected that soon the house rent allowance may also increase by 3 percent, but this will happen when DA is 50 percent and then HRA 30%. , will be 20% and 10%. At present central employees are getting HRA at the rate of 27%, 18% and 9%.

HRA was revised in July last year when DA crossed 25% and when DA was increased to 28 per cent in July 2021 even though DA crossed 28%. Now dearness allowance has increased to 34 percent, so it is believed that HRA can be increased again.

3% can be revised in HRA

After increasing the DA of central employees, 3% revision can be done in HRA, after which the maximum HRA rate will increase from 27 percent to 30 percent and the salary benefit will be Rs 20000. According to DoPT, revision of House Rent Allowance (HRA) is done on the basis of dearness allowance to central employees . In the same memorandum issued in 2016, it was said that with the increase in DA, the House Rent Allowance (HRA) will also be revised but there will be a condition that for this it is necessary to have more than 50 percent of the DA. If this happens then HRA will be 30%, 20% and 10%. In the year 2021, the 1st revision HRA has been hiked but when the second will happen, it is not known.

7th Pay Commission – The fitment factor of the employees will increase

The basic pay of the employee is calculated by multiplying the fitment factor 2.57 of the 7th Pay Commission . If the fitment factor is increased from 2.57 times to 3.68 times, then there will be a gain of 8000 in the basic pay and it will increase from 18000 to 26000. This will benefit about 52 lakh employees.

The basic salary of central government employees can also increase. The minimum wage for central employees has long been increased from Rs 18,000 to Rs 26,000 and the fitment factor 3.68 by 2.57 times. Efforts are being made to increase it to 3.68 times. If the Modi government considers to increase the fitment factor after DA, then the salary will increase by up to 50 thousand. Earlier, the minimum basic pay was increased from Rs 6,000 to Rs 18,000.

Pravesh Maurya
Pravesh Maurya
Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ businessleaguein@gmail.com
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