New Delhi: 7th Pay Commission Latest Updates- If media reports are to be believed, then come July and central employees can hear 3 big news. Central government employees may be up for some big bonuses next month including – an increase in dearness allowance (DA), payment of 18 months’ DA arrears, and in respect of interest on provident fund (PF).
5% DA hike may be announced in July
The recent All India CPI-IW data has once again ignited the hopes of a steep hike in DA in the month of July. Lakhs of central government employees waiting for announcement Hike in Dearness Allowance (DA) There is a bright hope because of the latest pan-India CPI-IW features. The AICP index for the month of April, which is a key factor in determining DA, has given rise to speculations in the media about the high probability of DA hike for central government employees next month. In the month of July, the government can bring some more good news for the employees. According to the latest media reports, there may be a five percent increase in DA in July. That is, the total DA can reach up to 39 percent. Earlier reports had said that the DA may increase by 4 per cent. However, the April AICP index indicates a slightly higher percentage increase.
Dearness Allowance (DA) pending for 18 months
report on payment of Dearness Allowance (DA) pending for 18 months It’s steamy once again. As per the latest reports, the issue of payment of DA dues of 18 months from January 2020 to June 2021 is likely to be taken up soon. Central government employees should not lose hope of getting Rs 2 lakh outstanding in their account at one go. The quantum of DA arrears will depend on the pay band and composition of the employees.
Provident Fund Interest Transfer
The Central Board of Trustees, EPF had recommended a rate of interest of 8.10% per annum on EPF accumulations in the accounts of members for the financial year 2021-22. After the interest rate was officially notified in the Government Gazette, EPFO will soon start crediting the interest rate to the accounts of its subscribers. EPFO announces PF interest rate every year.