7th pay Commission latest news: 3.2 pct DA hike! Good news for employees of this PSU soon
7th pay Commission latest news: The Steel Authority of India Limited (SAIL) has recommended 3.2 per cent hike in the Dearness Allowance (DA) for its lower grade employees.
7th pay Commission latest news: The public sector company Steel Authority of India Limited (SAIL) has recommeded 3.2 per cent hike in the Dearness Allowance (DA) for its lower grade employees. The navratna company management has written a letter in this regard to the Minister for Labour and Employment Santosh Gangwar. In the last quarter, DA for the lower grade SAIL employees was increased by 3.4 per cent.
If the recommendation is accepted by the Ministry of Labour and Employment (which is almost likely), lower grade employees at SAIL can have a monthly salary hike from Rs 500 to Rs 1,800. The sources have told Zee Business Online that the DA hike will be implemented from October 1, 2019.
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On the similar lines of the public sector banks, public sector companies' employees DA is increased after a gap of every three months means in a quarterly basis. According to the custom, DA is hiked as per the increase in the Consumer Price Index (CPI). This DA hike would a big boost for the lower grade SAIL employess ahead of Diwali 2019 as the DA hike generally works as a hedge against the shooting inflation in the corresponding period. If we include officers at SAIL, there are around 1,00,000 employees working at SAIL.