thenewsfacts.com
  • Home
  • Latest News
  • Trending News
  • Technology
  • entertainment
  • Sports
  • Business
thenewsfacts.comthenewsfacts.com
Font ResizerAa
Search
  • Home
  • Latest News
  • Trending News
  • Technology
  • entertainment
  • Sports
  • Business
Follow US
© thenewsfacts : All Rights Reserved.

Home » Pay Commission; Indian Govt Offer Biggest 2021 Bonanza

Latest News

Pay Commission; Indian Govt Offer Biggest 2021 Bonanza

TheNewsFacts
Last updated: October 21, 2021 4:54 pm
TheNewsFacts
Share
Pay Commission; Indian Govt Offer Biggest 2021 Bonanza
SHARE

The 7th Pay Commission Diwali bonanza is out, the Central Government, on Thursday approved an increase of 3 percentage points on the Dearness Allowance (DA) Dearness Relief (DR) for central government employees and pensioners from 28%.

Contents
  • 7th Pay Commision Highlights
  • 7th Pay Commission ; Deareness Allowance Arrears
  • 7th Pay Commission: Provident Fund Interest

Post this hike, the DA will increase to 31%. While addressing the media, Union Minister Anurag Thakur said that the hike comes into effect from 1 July, 2021

The new 7th Pay Commission hike comes just days ahead of Diwali and is aimed to benefit over 47 lakh employees and 68.62 lakh, pensioners. “The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs.9,488.70 crore per annum,” the government said in a statement

7th Pay Commision Highlights

Cabinet approves release of an additional installment of Dearness Allowance to Central Government employees and Dearness Relief to Pensions, due from 01.07.2021

  • An increase of 3% over the existing rate of 28% of the Basic Pay / Pension
  • This will benefit about 47.14 lakh Central Government employees and 68.62 lakh pensioners
  • Impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs.9,488.70 crore per annum
Pay Commission
Pay Commission Bonanza approved by Central Government

Earlier in the day, the Union Cabinet approved the 7th Pay Commission Recommendations a 3 per cent dearness allowance (DA) and dearness relief (DR) hike for central government employees and pensioners. The DA and DR hike was approved by the Union Cabinet after a meeting was held earlier in the day. It is a welcome development for central government employees and pensioners.

The increase of 3 per cent is over the existing rate of 28 per cent of the basic pay/pension. The move will benefit about 47.14 lakh Central government employees and 68.62 lakh pensioners. It will cost the exchequer Rs 9,488.70 crore per annum.

Though the DA was restored recently, the Central government is yet to pay the increased dearness allowance (DA) for the month of July and August 2021.

7th Pay Commission ; Deareness Allowance Arrears

DA Arrears: Even though the DA was restored recently, the Central government is yet to pay the increased dearness allowance (DA) for the month of July and August 2021. The government had recently said that the employees will receive salaries with increased DA starting from July 2021.

7th Pay Commission: Provident Fund Interest

PF Interest: In the meantime, over 6 crore Central government employees and pensioners who are the account holders of the Employees’ Provident Fund Organisation (EPFO) can also receive good news before Diwali. Reports claim that the EFPO subscribers can receive the interest money on their investments direct in their bank accounts in this festive season. Reports claimed that the EPFO could soon announce the transfer of interest to the accounts of its subscribers for 2020-21 period.

Meanwhile, The Central government employees belonging to the India Post department will get only half bonus this Diwali. As per updates, the Central government had refused to grant them 120 days bonus.

The dearness allowance of the central government employees has been raised by 4 per cent in January 2020, by 3 per cent in June 2020 and by 4 per cent in January this year. With an increase of 3 per cent in July and the pending hike, the DA for central government likely to jump to nearly 31 per cent.

TAGGED:7th Pay CommissionDearness AllowanceDearness Relief
Share This Article
Email Copy Link Print
Previous Article Drug Bust: Ananya Pandey in the spotlight after Aryan Drug Bust: Ananya Pandey in the spotlight after Aryan
Next Article History Scripted, One Billion Vaccinated in India COVID-19: History Scripted, One Billion Vaccinated in India

Your Trusted Source for Accurate and Timely Updates!

We're committed to providing accurate and unbiased news as it unfolds, earning the trust of a large audience. Stay informed with our news updates on the latest events and trends, keeping you ahead of the curve.
FacebookLike
XFollow
InstagramFollow

Popular Posts

Radhika Merchant and Anant Ambani set to tie the knot, Nita Ambani shares beautiful pictures

Anant Ambani, the youngest son of billionaire Mukesh Ambani and his wife Nita, has announced…

By TheNewsFacts

Cricket Rivals Turn Supporters: Babar Azam reveals the unknown saga

Cricket: Pakistani skipper Babar Azam revealed in an exclusive interview with ICC Digital Insider Zainab…

By TheNewsFacts

10 years from now Priyanka Nick Jonas will divorce – Kamaal R Khan Predicts

This is the craziest news going viral, and also the most trolled, as film critic…

By TheNewsFacts

You Might Also Like

Latest News

Mitchell Marsh CWC 2023 Cup Photo Act Could be a Deepfake

By TheNewsFacts
Latest News

Beyond Books: National Education Day 2023 Calls for Holistic Learning

By SK Panicker
Operation Sindoor
Latest News

Cross-Border Strike: India Sends Clear Message With “Sindoor”

By TheNewsFacts
Now You Can Watch Ajay Devgn's Runway 34 on Amazon Prime On Rent
Latest News

Now You Can Watch Ajay Devgn’s Runway 34 on Amazon Prime Rentals

By TheNewsFacts
thenewsfacts thenewsfacts

About US


TheNewsFacts: Brings you the interesting facts, news facts and updates from India an the world across politics, tech, entertainment, business, tending, and more. We deliver what you love to read.
Top Categories
  • Latest News
  • Trending News
  • Paris Olympics 2024
  • Sports
  • Entertainment
  • Business
  • Technology
Usefull Links
  • About The News Facts
  • Latest News
  • Privacy Policy
  • Editorial Policy
  • Disclaimer
  • Contact Us
Follow us
Facebook Twitter Instagram

© thenewsfacts. All Rights Reserved.

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?