DAÂ Hike Calculation: Before Diwali, more than 1 crore central employees and pensioners have got a big gift. Their dearness allowance (DA) has been increased by 3 percent. With this, central employees and pensioners will get increased salary and pension in October. Let us know how much the salary will increase after the increase in DA and how it will be calculated.
DA Hike Calculation: The central government gave a big gift to its more than 1 crore employees and pensioners just before Diwali. It has increased the dearness allowance (DA) by 3 percent. This means that now the central government employees will get 53 percent dearness allowance. Let us know when this increased dearness allowance will be considered applicable and how much will the salary increase due to this.
When will DA increase
The government usually changes the DA twice a year. One at the beginning of the year, the other after the first half is over. These are considered applicable from January 1 and July 1. The Union Cabinet has approved the increase in DA on October 16, 2024. But, this increase will be considered applicable only from July 1, 2024. This means that central employees will also get arrears of three months from July to September. They will start getting increased DA with the salary of October.
What is DA
DA (Dearness Allowance) is an important part of the salary of the employees. It is given to meet their essential expenses. Its increase also increases the salary of the employees. The rates of DA are decided by the government. It is also updated from time to time on the basis of inflation and lifestyle changes. This helps the employees to meet their essential expenses according to inflation and improves their lifestyle.
Also Read-Â Mutual Fund Return Calculator: This mutual fund created a fund of Rs 1 crore with a monthly SIP of Rs 2000, know calculation
How much will the salary increase
It depends entirely on the current salary of the employee. If the basic salary of an employee is Rs 50 thousand, then with the increase of DA by 3 percent, his monthly salary will increase by Rs 1,500. Accordingly, an additional Rs 6000 will come in his account with the salary of October. Out of these, 4,500 will be arrears of the last three months, while 1,500 will be DA of October. Similarly, pensioners will also get benefit according to basic pension.
How much will the burden increase
With the increase in dearness allowance and dearness relief, government employees will get three months’ dearness allowance as arrears along with the October salary just before Diwali. This decision of the government will benefit 49.18 lakh central employees and 64.89 lakh pensioners. But there will be an additional burden of Rs 9,448.35 crore annually on the treasury.
Related Articles:-
https://www.businessleague.in/ayushman-card-eligibility-who-can-get-ayushman-card-and-who-cannot-know-here/
https://www.businessleague.in/post-office-mis-invest-in-post-office-monthly-income-scheme-and-get-an-interest-rate-of-rs-111000-every-year-know-details/
Bank FD Update: Bank offers 9% interest on 3-year FD, Check details
