There has been talk of big benefits for the retirees between January 2020 and June 2021 from Indian Railways and other central enterprises.
The Modi government has agreed to give the benefit of 11 percent increase in dearness allowance to these retired employees. With this, the junior to senior level employee will benefit from about Rs 1 lakh to 7 lakh in the retirement fund. This benefit will be in the form of cash payment in lieu of gratuity and leave.
In media reports, it has been told by the Indian Railways’ Pay Commission VII and HRMS Deputy Director Jai Kumar that retired central employees have already been given the benefit of increase in dearness allowance. Now the people of the remaining departments are being given its benefit. Under this, retired employees of all zones of the railway will come.
According to a former official, if the basic salary of an employee is Rs 40,000 at the time of retirement, then they will get a big benefit from the 11 percent increase in dearness allowance. The amount of payment in lieu of his gratuity and leave will increase by about Rs 117000. On the other hand, if the basic salary is Rs 2,50,000 a month, then the retirement fund will increase by more than Rs 7 lakh.
Between January 1, 2020 and June 30, 2020, retirees will get money in lieu of gratuity and leave at the rate of 21 percent DA. At the same time, retirees from 1 July 2020 to 31 December 2020 will get 24 percent and retirees between 1 January 2021 to 30 June 2021 will get a retirement fund at the rate of 28 percent.
