For the 18 months of the employees, the decision has not been taken at the moment. At the same time, once more the central government can give a big blow to the employees.
7th Pay Commission Employees Allowances: Employees can get many big gifts in the new year. Also, they may get a big shock. In fact, the government is preparing to give a big blow to the employees in the budget session. Big updates are continuously coming out on increasing the fitment factor including increase in dearness allowance. Meanwhile, a new update has also come out regarding the house building advance of the employees under the Seventh Pay Commission.
Actually a memorandum was issued on 1 April 2022. In which the house building loan interest rate was reduced to 7.1% for 31 March 2023. Now there are signs of increase in it. Under the 7th Pay Commission, the employees get the eligibility of HBA with low interest. Currently HbA is 7.1 percent. However, the HBA and interest rate can be increased by the government. At the same time, in the new year, central employees may have to pay more interest. However, at present no official statement has been revealed on this.
HBA of Rs 25 lakh or 34 months basic salary
Under the current rules, central employees get an HBA of Rs 25 lakh or 34 months’ basic pay. For government employees, if the cost of the house is less than 25 lakhs, then they will get a lesser amount in the form of Rs. Along with this, if both wife and husband are government employees, then both of them get the benefit of house building allowance.
Facility to home buyer with conditions
Along with this, the buyer of a house in different cities gets the facility with conditions. However, the employees can avail the scheme only once during their service. He will be able to take 34 months basic salary and house building allowance up to a maximum of Rs 25 lakh. HBA rules say that central government employees are eligible for HBA, which includes building a new house, buying a plot for a house, upgrading their living space. Extension and purchase of pre-built houses or apartments from housing boards, development authorities, registered builders.
Shock to employees even on 18 months DA
However, even on 18 months DA, the employees may get a shock. For the Corona period, but till now it has been denied by the government. There is no consensus on the decision.
