While employees under the sixth and seventh pay scales are eagerly awaiting for a hike in dearness allowance, a different scenario unfolds at Coal India, where orders have been issued to boost dearness allowance for officers at both board and below-board levels.
DA Increased
Coal India has raised the dearness allowance to 43.8% from October 1, 2023, according to their recent order. This change is based on the Pay Revision of 2017, dated August 8, 2018, where the dearness allowance is now determined by the increase in prices above the quarterly index average of 277.33 points, starting October 1.
Order Issued by Under Secretary to the Government of India
The government increased the dearness allowance for certain employees to 43.8 percent. This includes board level employees at Coal India Limited from October 1. The new rates are specified until December.
Applicable for IDA Employees
For employees under the revised pay scale of 2017, a dearness allowance of 43.8 percent will take effect. Coal India Limited’s recent office memorandum indicates that, alongside their November salary, employees will now receive a dearness allowance at a rate of 43 percent. This adjustment has the potential to boost their dearness allowance salary by up to Rs 20,000.
What is Dearness Allowance and its Benefits?
Dearness allowance is a provision for central government employees and pensioners, aligning with the recommendations of the 7th Pay Commission. This adjustment is designed to enable them to manage their finances in the face of escalating prices for goods and services.
Also read:
SIP Investments: In How Many Years You Can Earn a Million With ₹5000, 8000,10000 SIPs
Impact on Govt Employees Salaries
Central government employees are getting more money called dearness allowance. This helps them handle higher prices for things they need. And, their Provident Fund (PF) and gratuity will also go up because of this.
