DA Will increase With New Formula in July, Calculation Will Change For Employees, Know How

DA Will increase With New Formula in July, Calculation Will Change For Employees, Know How

7th Pay Commission DA Hike News: Another new update has come regarding Dearness Allowance. After increasing DA in March, it will now be announced in a different way in July. The formula for DA Hike calculation may be changed in July. Let us inform, the central employees are currently getting 42 per cent dearness allowance. Recently DA has been increased by 4%. Now the employees will get the benefit of DA increased from April salary.

7th Pay Commission DA Hike News

But, further preparations have started. There may be a change in the calculation of Dearness Allowance to be held in July. Now the figures of two months of AICPI index have come, which seems to be visible. That there will be an increase of 3 percent in DA Hike. But, experts agree. That the figures of the coming 4 months can increase the DA by 4%. Let us know what is there for the employees. new update.

Read More - Government is Going To Build 3 New Highways in These Districts of Haryana, Know Through Which Districts These Highways Will Pass

What is Dearness Allowance?

Central and state government employees get Dearness Allowance to improve their cost of living. Dearness allowance is calculated in proportion to inflation. DA Hike is a part of the salary structure kept as an allowance to the employee to improve their standard of living. Dearness Allowance (DA) is given to central employees, public sector employees and dearness relief to pensioners. The same structure is applicable in the states as well.

Read More - 2023-24 These 5 SUVs OF Mahindra Are Being Launched in India, How Right To Wait

What is. DA Hike Formula: 7th Pay Commission DA Hike News

The Ministry of Labor had changed the formula of calculation regarding Dearness Allowance. The Ministry of Labor changed the base year of DA Hike in 2016 and released a new series of Wage Rate Index (WRI-Wage Rate Index). The Ministry of Labor said that the new series of WRI with base year 2016 = 100 replaced the old series of base year 1963-65.

Read More - Haryana: 3 new Highways Will Soon Be Built in These Districts of Haryana, The Govt Gave a Big Gift To The People

How is Dearness Allowance calculated?

The amount of Dearness Allowance is calculated by multiplying the basic pay by the current rate of Dearness Allowance of the 7th Pay Commission. The present rate of percentage is 12%. If your basic salary is Rs. 56,900 Da is (56,900 x12)/100. Dearness Allowance Percentage = Average of CPI of last 12 months – 115.76. Now whatever comes will be divided by 115.76 (DA Hike). The number that comes will be multiplied by 100.

Read More - Haryana: The Govt Has Given 800 Electric And 200 AC Buses To These Districts of Haryana, Know on Which Routes These Buses Will Ply

How to calculate how much Dearness Allowance will be received on salary

DA Hike will have to be calculated on the basic pay of the employee for salary calculation under the Seventh Pay Commission increment. Suppose the minimum basic pay of a central employee is Rs 25,000. So his Dearness Allowance will be 34% of Rs.25,000. 34% of Rs.25,000 will be Rs.8500. This is an example. Similarly, people with other salary structure can also calculate it according to their basic salary.

Read More - Haryana: Public Dialogue Program of The Chief Minister of Haryana, Promised To Make 44000 New Ration Cards in This District

7th Pay Commission DA Hike

Dearness Allowance (DA Hike)/Relief (DA/DR) is awaited for central employees and pensioners. Have an estimate. That the government can take a decision on this next week. hopefully. That the government will increase DA/DR by 4%. This increase in DA and DR will be for the first half of January 2023 to June 2023. Anyway, let's find out. How much salary will the employees get after the increase in Dearness Allowance.

Read More - Toll Tax Rules: With The New Rules of Toll Plaza, Passengers Will Be Able To Take Out Their Vehicles Without Paying Toll.

How much salary will increase due to Dearness Allowance hike?

The DA hike of 4% will result in a big hike in the salaries of central government employees. Suppose the basic salary of a central government employee is Rs 25500 per month. Right now the DA is 38 per cent. Which becomes 9690 rupees. Now if it increases by 4 percent. So it will be 42 percent DA Hike. If you look at the amount, it becomes Rs 10,710. Accordingly, there will be an increase in Dearness Allowance by Rs.10710 – Rs.9690 = Rs.1020.

Follow Us on Google News - Click For Latest News