7th Pay Commission: There is a holiday on March 31 due to Sunday, hence it is expected that the increased salary of central employees will come on March 30.
7th pay commission: The Centre in this festive season is offering the best Holi gift to its employees. After the recent DA hike, the Central government employees will receive increased salary, HRA and arrears of two months on March 30, a report by Jagram News said.
There is a holiday on March 31 due to Sunday, hence it is expected that the increased salary of central employees will come on March 30. However, the Reserve Bank of India has asked all to open banks on Sunday, March 31 as it is the last day of the current fiscal year.
DA Hiked to 50%
Earlier this month, the Central government had announced a 4 percent rise in DA for central employees. The latest DA hike will come into effect from January 2024, taking the total DA hike from 46 percent to 50 percent. With this hike, the employees are entitled to arrears for January and February.
After the DA hiked to 50 percent, there was also a corresponding increase in House Rent Allowance (HRA). As per the city’s categorisation, employees stand to receive up to 30 percent HRA.
The latest DA hike will also lead to special allowances for central employees such as childcare allowance, child education allowance, hostel subsidy, travel allowance on transfer, dress allowance, gratuity ceiling, and mileage allowance. However, employees must claim these allowances accordingly.
How DA is Calculated?
The Central government employees must note that the DA for the Central government employees is based on the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month. The increase in DA is as per the accepted formula, based on the recommendations of the 7th Central Pay Commission.
The decision to hike DA by 4% in March has benefitted 48.67 lakh central government employees and 67.95 lakh pensioners. Prior to this, the Diwali bonuses for Group C and non-gazetted Group B level officials, including paramilitary forces, were also granted by the government.