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Tuesday, January 25, 2022

7th Pay Commission: DA can increase from 17 to 28%, these things will also benefit including PF

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Due to Corona, DA has not been given since January last year. But it can be restored from July. This will benefit PF because increasing the amount of contribution will give good interest in it for a long time.

Dearness Allowance

Due to the Corona epidemic, the benefit of DA received by the central government to the government employees was stopped from the month of January last year. But it will be restarted from July. It is also expected to be increased. In such a situation, it is believed that DA may increase from 17 percent to 28 percent. This will benefit more than 50 lakh employees and more than 65 lakh pensioners.

It is to be known that recently, Minister of State for Finance Anurag Thakur had told in a written reply in Rajya Sabha that from July 1, all employees of the Central Government will get full benefit of DA. In this, they will also get the benefit of increase in DA along with freeze for January to June 2021.

AICPI estimates on DA

According to the latest data from the AICPI (All India Consumer Price Index), one can expect a DA increase of at least 4 per cent for the period from January to June 2021. In addition, 3 percent DA for January to June 2020 and 4 percent DA announced for July to December 2020 are also expected to be added to the existing DA of Central Government employees, which is currently 17 percent. Let me tell you that in the Union Cabinet last year, a 4 percent increase in DA was agreed.

PF attribution and DR will be increased

The increase in dearness allowance will not only increase salary or pension, but it will also increase the contribution given to PF. This will benefit you in the future amount because the higher the amount of attribution, the better will be the interest on the lump sum. Apart from this, there will also be an increase in Dearness Relief.

Payment will be paid for three installments

Due to Corona epidemic, the central government freezed the DA from 1 January 2020 to 1 July 2020 and 1 January 2021. In such a situation, the government employees and pensioners will get the payment of these three installments if they are given again from July. Currently, employees and pensioners are getting DA at the rate of 17 percent. According to the data of the Ministry of Finance, the government had saved more than 37,430.08 crores by DA freeze, which was used in fighting the corona epidemic.

Also read: How to withdraw money from your PF if the company is closed, know the easy way

7th Pay Commission: Good news for government employees! DA will get full benefit from July 1

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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