7th Pay Commission Latest news: The Labor Ministry releases the AICPI data for the previous month at the end of every month. In this, in comparison to the index inflation, it shows how much allowance should be given to the employees to deal with inflation.
7th Pay Commission Latest news: Central employees are going to get good news next week. The festive season will start with an increase in his salary. In the coming days, another announcement is going to be made regarding Dearness Allowance. There is to be a further increase of 4 percent in this. That means from a week onwards his Dearness Allowance (DA) will be 38 percent. In March, the Central Government had increased the Dearness Allowance (DA Hike) by 3 per cent to 34 per cent. Earlier, DA was being paid at the rate of 31 per cent. Now with an increase of 4 percent, it will reach 38 percent.
Good news for more than 1 crore employees and pensioners
The Labor Ministry had released the figures for the first half of the AICPI (All India Consumer Price Index). These include the number from January to June. The AICPI index has reached 129.2 points in June. It is clear from this that the 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. More than 1 crore central employees and pensioners will get its direct benefit.
DA as per AICPI data
The Labor Ministry releases the AICPI data for the previous month at the end of every month. In this, in comparison to the index inflation, it shows how much allowance should be given to the employees to deal with inflation. It is clear from the figures of the first half that there should be an increase of 4 percent in DA. 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 give a big relief to the central workers.
Whose salary will increase?
Calculation on 7th CPC Minimum Salary Rs 18000
1. Basic salary of the employee Rs 18,000
2. New dearness allowance (38%) Rs 6840/month
3. Dearness allowance so far (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 7th CPC maximum salary Rs 56900
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
Note: This is an estimate based salary, the final salary will be made only after adding allowances like HRA to it.
Benefit will also be available in other allowances
By the end of the year, only Dearness Allowance for central employees will not increase. Rather, other allowances will also increase. This 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.
HRA is not included in the calculation
Under the 7th CPC, according to the dearness allowance of 38 percent, 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. However, the calculation of how much the final salary will be will be known after adding other allowances including HRA. This simple calculation has been done for an idea only.