Employees will get 3 good news after the budget session! Salary will jump up to 1 lakh! Updates on DA-Allowances and Arrears

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Employees will get 3 good news after the budget session! Salary will jump up to 1 lakh! Update on DA-Allowances and Arrears
Employees will get 3 good news after the budget session! Salary will jump up to 1 lakh! Update on DA-Allowances and Arrears

In view of the upcoming elections, the fitment factor of the employees can be increased from 2.57 to 3.00 or even 3.68 percent under the 7th Pay Commission, if the consent is made then the basic salary of the employees will increase by 8000 from 18000 to 21000 or 26000. There is a possibility that the central government may take a decision on this after the budget to be presented on February 2023.

Central Employees Salary Hike 2023: The Modi government at the Center is going to present its budget on 1 February 2023. Government employees, pensioners, farmers and youth have high hopes from this budget, it is expected that many big decisions can be taken this time in view of the upcoming elections. Earlier, the employees-pensioners have also started taking their demands to the Finance Minister. According to media reports, after the budget session, 1 crore central employees and pensioners (7th Pay Commission) can get 3 big gifts. Not only will there be a jump in the basic salary of the employees, but they will also get the benefit of other allowances.

Possible increase in DA by 3-4 percent
In 2023, there may be an increase of 3-4 percent in the dearness allowance of the employees. It can be 38 per cent to 41 per cent. This estimate has been made from the released data of AICPI index till November. Its figure has been at 132.5 till November, the figures of December are yet to come, the final rate will be decided by the numbers of AICPI index in the second half, how much DA will increase in January 2023. If there is a jump in this, then a jump can be seen in the dearness allowance to be announced in March. Since the budget session will be held in February and Holi is on March 8, there is a possibility that it may be announced in the first week of March. However, official confirmation is yet to be made.

Salary will be fixed like this

At present the employees are getting 38 per cent DA, if there is an increase of 3 per cent it will become 41. With this, a total increase of ₹ 720 per month in the basic salary of the employees and ₹ 2276 per month for the maximum salary range employees is fixed. It is expected that it can be implemented from January 1, 2023, in which case 2 months Can also be given arrears. It will benefit 48 lakh employees and 68 lakh pensioners. It can be announced on March 1, since the cabinet meeting is to be held on the same day. There is a formula for DA for employees [(Average of All India Consumer Price Index (AICPI) of last 12 months – 115.76)/115.76]×100.

Decision on 18 months DA arrears?
Central employees have arrears of DA from July 2020 to January 2021, several rounds of meetings have been held with the central government of the employees and pensioners organization, the employees organization has also suggested a negotiated settlement to the government but Till now no solution has been found. There is a possibility that the government may take a final decision on DA arrears during or after the budget session. In the budget session, the amount can be allocated for the outstanding arrears or it can also be announced to be given in installments. . Although no new update has come from the government.

The arrears will be different according to the level
If the payment is made, then up to Rs 2.18 lakh can come in the account of the employees. The employees will get the money of DA arrears according to their salary band. It is expected that Level-1 employees will get Rs.11,880 to Rs.37,554, Level-13 (7TH CPC Basic Pay-Scale Rs.1,23,100 to Rs.2,15,900) and Level-14 (Pay-Scale) from Rs.1,44,200. An arrear of Rs.2,18,200 is outstanding. If the basic pay of the employee is Rs.18,000, he can get the outstanding DA arrears for 3 months (4,320+3,240+4,320) = Rs.11,880. If the basic pay of the employee is Rs.56,000 DA arrears of 3 months will be (13,656 + 10,242 + 13,656) = Rs 37,554.

Increase in basic salary possible if fitment factor increases
If media reports are to be believed, then in 2023, the Modi government at the Center may also announce an increase in the fitment factor of the employees, considering the demand. In view of the upcoming elections, the fitment factor of the employees can be increased from 2.57 to 3.00 or even 3.68 percent under the 7th Pay Commission, if the consent is made then the basic salary of the employees will increase by 8000 from 18000 to 21000 or 26000. There is a possibility that the central government may take a decision on this after the budget to be presented on February 2023.

Salary will be increased by 2.5 times
Actually, due to this factor, the salary of central employees increases by more than two and a half times. Due to this, there will be different increase in the salary of different level employees. However, official confirmation is yet to be made. Earlier, the government had increased the fitment factor in 2016 and from the same year the 7th pay commission was also implemented, after which the basic salary of the employees increased from 6000 to 18,000.

Basic salary will increase

  • Due to the fitment factor, the salary of the central employees increases by more than two and a half times. At present, the fitment factor of the employees under the 7th Pay
  • Commission is 2.57 times and the basic salary is 18000.
  • For example, if the basic salary of a central employee is Rs 18,000, then excluding allowances, his salary will be 18,000 X 2.57 = Rs 46,260.
  • At 3.68, the salary will be Rs 95,680 (26000 X 3.68 = 95,680) i.e. Rs 49,420 profit will be available in salary. With 3 times the fitment factor, the salary will be Rs 21000 X 3 = Rs 63,000.