Editor: Mohammad Haris

Last updated: Feb 05, 2023 09:11 AM IST

7th commission fee: The overall accommodation rate is currently 2.57%.

The minimum wage is expected to rise from Rs 18,000 to Rs 26,000 for central government employees as the adjustment factor could increase after Holi next month.

7th Pay Commission: According to media reports, central government employees are likely to get a raise in their pay, even though the Center is expected to change the adjustment factor upwards after Holi, March 8. The minimum wage is expected to rise from Rs 18,000 to Rs 26,000 for central government employees.

The overall fitness factor is currently 2.57%. This means that if someone, let’s say, earns a base salary of Rs 15,500 at 4200 Grade Pay, their total salary will be Rs 15,500 × 2.57 or Rs 39,835. The 6th JPC recommended an installation factor of 1.86.

Employees are now demanding the government raise the fitness factor to 3.68, according to reports. This increase will raise the minimum wage from Rs 18,000 at present to Rs 26,000.

See also  Ryland and Hoehner lead the national team's 27-10 Senior Bowl win

Earlier media reports also suggested that central government employees under the 7th Pay Commission are also likely to receive an increase in Dear Cost Allowance (DA) in March 2023, effective January 1, 2023. The government can also increase the dearth of living allowance (DR) for retirees. In addition, employees can also receive 18 months of DA debt.

The high cost allowance (DA) and the high cost allowance (DR) are reviewed twice a year, beginning January 1 and July 1. The latest increase in September 2022, which was used by about 48,000 civil servants and 68,000 pensioners, increased DA by 4 percent. percent to 38 percent. Prior to that, the government raised the DA by 3 percent to 34 percent in March, in line with the 7th Pay Commission.

Last month, the Treasury Department updated the housing rent (HRA) rules for government employees under the 7th Pay Commission and said they would not be eligible for HRA if:

See also  Nirmala Sitharaman listens to classical music and sleeps soundly to relax after a long day at work

(i) He/she shares public housing allocated to another government employee; or

(ii) He/she resides in accommodation allocated to his/her parents/son/daughter by the central government, state government, autonomous state enterprise or parastatal organization such as a municipality, a port trust, nationalized banks, a life insurance corporation. India and others; or

(iii) His/her spouse has been allocated accommodation in the same station by a central government/state government/autonomous public enterprise/semi-state organization such as a municipality, a port trust, etc., whether or not he/she resides in that housing or he lives separately in rented housing.

Read all the latest business news here

Business Desk A team of writers and reporters deciphers extensive personal finance terms and makes money easy for you. From the latest Initial Public Offerings…Read More

By Admin

Leave a Reply

Your email address will not be published. Required fields are marked *