Thursday, February 2, 2023

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7th pay commission: Central employees to get DA hike by Holi! Increased salary hike calculation

7th pay commission new update: The Central Government employees who have been waiting for a dearness allowance (DA) raise may receive one by Holi 2023, according to a 7th Pay Commission update. The recently announced AICPI index has revealed some encouraging news. The Narendra Modi administration may raise DA by an additional 4%. This year, Holi is on March 8.

The DA is increased twice a year by the government. The dates of this DA increase are January and July. The Central Government employees have been anticipating an increase in their dearness allowance since the new year began.

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According to data, the central government may raise the dearness allowance by 4% or 3%.

This requires an increase of 0.4 points in the AICPI index in November and December.

The dearness allowance will grow to 42 percent if the government raises DA by 4%. The central government will enhance DA by 4% in July 2022.

If the DA is increased to 42 percent, here’s how it will impact a level-3 employee’s salary.

According to media report, DA and DR hike will benefit 68 lakh retirees and 48 lakh central government employees.

Increased salary hike calculation

  • Basic salary of the employee – Rs 56900
  • New Dearness Allowance (42%) – Rs 23898/month
  • Till date dearness allowance (38%) – Rs 21622/month
  • How much dearness allowance increased – 23898-21622 = Rs 2276/month
  • Increase in annual salary – 2276X12= Rs 27312

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DA hike in January 2023 7th pay commission big update

At this point, a 4% increase in DA in January 2023 seems likely. According to some media sources, the dearness allowance hike in January 2023 will be comparable to the allowance issued around Diwali last year.

According to some rumours, the hike in DA will be announced in March 2023, and as it has historically been the case that the implementation date falls in January, the Central Government employees would also receive the arrears.

Read More :- Latest Business News

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