New Delhi: Along with increasing DA, the amount of PF and Gratuity of employees will also increase. At the same time, City and Travel Allowance will also increase.
Apart from this, revision in HRA of central employees will also be done on time. Its benefit will be more than 47.68 lakh central employees and more than 68.52 lakh pensioners. There will be a jump in salary from 20 thousand to 2.50 lakh.
Dearness allowance will increase by 4%?
The Modi government at the Center can announce an increase in 4% dearness allowance and dearness relief for the second half in August.
After the release of the June data of the AICPI index, it is believed that the DA of the employees will increase by 4 to 5%. If it is implemented from July 1, then the arrears of July-August will also be available.
If the basic salary of a central employee is Rs 20,000 per month, then at the current rate of 34 per cent, he is getting DA of Rs 6,800 per month, then at 38 per cent, the amount will increase by Rs 800 per month to 7,600. That is, you will get a profit of Rs 9,600 annually, according to this, the annual DA of an employee with basic salary of Rs 20,000 will be Rs 91,200.
If we look at the maximum basic salary of Rs 56,900, then the total increase in annual dearness allowance will be Rs 27312. That means Rs 2276 will increase every month against the existing DA. His total annual DA will reach Rs 2 lakh 59 thousand 464.
Fitment factor also expected to increase
According to the recent reports, along with DA, HRA, central employees have been waiting for an increase in the fitment factor for a long time. Now that the increase in DA has been announced, then their hope has got wings.
It is expected that soon the government can also take a big decision on the fitment factor of central employees. The fitment factor plays an important role in the salary received by the employees. Due to this factor, the salary of central employees increases by more than two and a half times.
Possible increase in house rent allowance?
Currently, HRA rates are 27%, 18% and 9% depending on the category of the city, it is possible to increase it up to 3%. It is believed that soon the HRA of X category employees can be increased by 3 percent, Y category HRA by 2 percent and for Z category 1 percent HRA can be increased. Thereafter, it will increase from 27% to 30%, although this will be in case the DA rises from 34 per cent to 50 per cent.
According to the 7th Pay Matrix, the maximum basic salary of employees is Rs 56,900, then if HRA is 27 percent, there will be a profit of 20,484 in the salary. For example, house rent allowance is Rs 56900 x 27/100 = Rs 15363 per month, then 30% HRA If it is Rs 56,900 x 30/100 = Rs 17,070 per month, that means the total difference will be Rs 1707 per month.
The annual HRA will increase by Rs 20,484. These rates vary according to the area and city, currently the minimum HRA for all three categories is Rs 5400, 3600 and 1800. According to the same 7th Pay Matrix, the minimum salary of employees is Rs 18000 and maximum basic salary is Rs 56,900.
rising demand to increase
It is worth noting that there has been a long-standing demand of central employees to increase their fitment factor from 2.57 per cent to 3.68 per cent. After this, there will be a tremendous increase in the minimum salary of the employees.
Let us tell you that the last time the fitment factor was increased in the year 2016. The 7th Pay Commission was also implemented in the same year. At that time the minimum salary of the employees had gone straight from Rs 6000 to Rs 18,000.
Now the government can increase the salary of central employees again this year. The fitment factor decides the basic salary for all central government employees. This time, if there is a possible increase in the fitment factor, then the minimum basic pay will increase from Rs 18,000 to Rs 26,000.
