At the moment, dearness allowance is paid to central staff at a rate of 42%. The new DA will be put into effect by the government starting in July 2023. It will most likely be shown between September and October. Following that, the employees’ salaries will climb significantly. There is a chance of increasing DA once more, by 4% this time, based on the AICPI index numbers thus far. If this takes place, the DA will rise to 46%.
The expected increase in dearness allowance of 4%
The AICPI index statistics for May and June have not yet been released. It is also anticipated to pick up speed, just like the other three months did. The annual dearness allowance of the employees would rise to Rs 1,68,636 with a 4% increase in DA. But you need to grasp all of mathematics to do this.
According to experts, the dearness allowance could rise by 4% in July 2023. In other words, it will go from 42% to 46%. The DA score has currently surpassed 45%.
Pay band 5400 employees would receive Rs 14,053 in DA.
Even if the May and June AICPI index numbers are 134.8, the dearness allowance will rise to 46 percent. Now, if you discuss the effect of the DA hike on Pay Band 5400, the annual compensation has changed by Rs 14,664. According to the pay band 5400’s basic wage of Rs 30,550, the annual dearness allowance at a 42 percent rate is Rs 1,53,972. However, if it rises by 4%, the monthly payment will then be Rs 14,053. The annual dearness allowance is therefore Rs. 1,68,636.
In other words, workers who earn in the Rs. 5400 pay band will receive a yearly benefit of Rs. 14,664. Employees currently receive a dearness allowance of Rs 12,831 per month, but that amount will soon rise to Rs 14,053.
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