All public sector employers need to pay a basic salary to the employees as per the pay scale. 14.96 % Invest Now. Dearness Allowance + Basic merged, National Pension System contribution increased for bank employees! Dearness Allowance (DA) from July 2020: 3% increase in DA confirms at this stage and it is possible to hike by 4% also! There are a few other components that are calculated with respect to the basic salary and added to the DA amount and then calculated as … Whereas the latest guidelines would apply to executives and non-unionised supervisors of CPSEs drawing the specified IDA pay scales, the DA rates for employees drawing central dearness allowance pay scales were already frozen, the government said. FEATURED FUNDS ★★★★ ★ Nippon India Liquid Fund Direct-Growth. Dearness Allowance Rates Rules Eligibility Calculator For Central Govt. 7th Pay Commission Latest News Today: There is good news for central government employees. FEATURED FUNDS ★★★★★ Axis Bluechip Fund Direct Plan-Growth. The suspension of these six allowances will be applicable till March 31, 2021. The move will come into effect retrospectively from January 1, 2020. The decision benefits about 48.34 lakh Central Government employees and 65.26 lakh pensioners. It means people who are working under central government or any other public sector unit will be able to receive dearness allowances. Benchmarks . Employee Railways Under 7 th Pay Commission. 5Y Return. The dearness allowance for employees and dearness relief for pensioners were due from January 2020 dearness allowance hike News and Updates from The Economictimes.com. 7th Pay Commission: Dearness allowance demands and more, Northern Railway Men's Union to take out rallies 7th Pay Commission latest news today: The Union Public Service Commission (UPSC) has issued a central government job (sarkari naukri) notification for the post of Specialist Grade III Assistant Professor (Plastic and Reconstructive Surgery). Delhi govt freezes DA, DR for 220,000 employees, pensioners till July 2021. Nifty 14,281.20 646.6. Dearness Allowance of lakhs of employees and pentioners has been put on hold since April 2020. As per an agreed upon formula, the Centre hikes the allowance taking 12-month average of retail inflation. In case, you are paying as per these minimum wage notifications, then it is a statutory obligation as and when the State government raises the minimum wage by increasing the DA component to pay the same. Apparently, it will also benefit their LTA. Public Limited Company. NSE Gainer-Large Cap . The hike, based on the recommendations of the Seventh Pay Commission, will cost the exchequer Rs 16,000 crore and will be … April 29, 2020, Wednesday. Initially DA was given in response to demand of employees for wage revision, however later it was linked to Consumer Price Index. As per the EPF rules, 12% of the Basic + Dearness allowance of employees need to be contributed by both employees and employers towards EPF. Apr 23, 2020… However, most minimum wage notifications of State Governments have a DA component linked to some Consumer Price Index Number. Dearness allowance is a cost of living adjustment that the Government pays to public sector employees and pensioners. 5Y Return. The Union Labour Office has declared the AICPI (All India Consumer Price Index) data. Increase of 4 percent over the existing rate … Nifty 14,238.90-133.0. Increase based on 7th Pay Commission recommendations. The Dearness Allowance paid to the central government employees and pensioners was slashed to 17 % as against the earlier 21%, due to the pandemic … Centre freezes hike in dearness allowance of central govt employees till July 2021 amid coronavirus COVID-19 crisis. Aurobindo Pharm 998.60 74.8. Dearness Relief (DR) Loss in Pension Calculator for Government Pensioners After implemented an important order issued by the Finance Ministry under the title of “Freezing of Dearness Allowance and Dearness Relief” on 23rd April 2020, all Central Government pensioners including Railways are wishing to know their total contribution to the Govt. A Complete Overview Of Dearness Allowance. Indian Bank Association Circular Indian Bank Association Circular Revision of Bank Wages and Service Conditions: Charter of Demands for 11th Bipartite Settlement The Rajasthan government on Friday revised higher dearness allowance for its employees to 17 per cent, from the existing 12 per cent.The revised allowance will be effective from July 1, 2019, according to an order of the finance department.The 5Y Return. Since the government has already hiked the dearness allowance by 2 per cent in October last year from July 1, 2016, it will now raise it further by 2 per cent. The simple calculation to find out the percentage of additional Dearness Allowance for Central Government Employees and Pensioners with effect from January and July every year… New Expected DA Calculator from July 2020. Private Limited Company. If the operating profit is above 15 per cent, employees will get an additional 15 days salary. NEW DELHI: In the first cabinet meeting after the BJP’s victory in state polls, the government approved a new National Health Policy, free pricing for coal bed methane and a 2% dearness allowance with effect from January for government employees and pensioners. In April, 2020, the UP Government put on hold increment in Dearness Allowance (DA) and Dearness Relief (DR) for about 16 lakh of its employees, and about seven lakh pensioners. The news of DA and DR hike comes days after the Government has told the Rajya Sabha that Dearness Allowance was due to Central Government Employees from January 1, 2020. The National Health Policy aims to raise public spending on health besides revisiting public private partnerships in the health sector. History. The expectation of an increase in Dearness Allowance (DA) for Government employees and pensioners. Read more about Rajasthan govt raises dearness allowance to 17 pc on Business Standard. The Government, also suspended six different allowances including the city compensatory allowance and secretariat allowance. The dearness allowances are the cost that central government pays to its employees for their living standard. However, this will be applicable only if the bank reports a net profit. One Person Company (OPC) Coming Soon . However, “No arrears from the period from 01.10.2020 till 30.06.2021 shall be paid,” it said. The Dearness Allowance was introduced following the second World War, and was then known as the "Dear Food Allowance".The "Old Textile Allowance" was also introduced in 1947, though this was revised and reintroduced in 1953 as the "Revised Textile Allowance". DA increase in accordance with the accepted formula. 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