7th Pay Commission: Employees to Receive Salary Increase of Rs 120,000 Soon
7th Pay Commission DA Hike:Exciting news for central government employees! If you’ve been anticipating a DA Hike, then you’re in luck – in just two days, your salary is about to receive a significant increase.
In March, the government plans to give a gift to hundreds of thousands of employees and pensioners to celebrate the holiday of Holi. This month, the salaries of central government employees are expected to increase by Rs. 1,20,000. Official sources report that the government plans to increase the dearness allowance by 4 percent once again this year.
There will be an increase in DA of 4 percent
It’s important to note that with the 4 percent increase in DA, employees can expect a significant jump in their salaries. Moreover, employees will benefit from a DA rate of 42 percent, effective from January 2023.
There will be an increase of 1,20,000 in the salary
As a result of the increase in dearness allowance, employees’ salaries will see a boost. For instance, if an employee’s basic salary is Rs. 30,000 per month, their salary will increase by Rs. 1,200 every month, resulting in an annual gross salary increase of Rs. 14,400. Similarly, if an employee’s basic salary is Rs. 2.50 lakh per month, their annual salary will increase by Rs. 1,20,000.
According to the information received
The increased DA benefit will be effective from January 1, 2023, as per the AICPI index. Previously, employees were receiving DA at a rate of 38%, but now it has increased by 4% to 42%. This means that employees will receive a higher DA percentage with their salary starting from January 1, 2023.
DA was increased by 4 percent in July also,
If the employees’ dearness allowance (DA) goes up by 4%, it will reach a total of 42%. The government had already increased the DA by 4% in July 2022. This increase will benefit many central employees and pensioners.
What is dearness allowance?
Dearness allowance is a type of allowance given to government employees and pensioners to improve their standard of living and food. It is increased to keep up with the rising inflation in the country. This allowance helps to enhance the quality of life and food for the employees.