7th Pay Commission latest news: Whopping salary hike of up to Rs 26,000 for employees in this state before Budget 2020
7th Pay Commission latest news: Before Budget 2020 presentation, the UP Government has announced DA for all its PSUs and Corporation employees.
7th Pay Commission latest news: Before the Budget 2020, the Uttar Pradesh (UP) Government has announced Dearness Allowance (DA) for all its employees employed at various Public Sector Undertakings (PSUs) and Corporations. Till date, the UP Government was not giving DA benefits to its PSUs and Corporation employees. After this decision of the annual salary of the Level-1 employees of UP PSU and corporation employees will go up by nearly Rs 26,000.
The UP Government has released a Government Order (GO) in this regard. In this GO, it has been clarified that those PSUs that have implemented the 7th Pay Commission, this DA hike will be applicable from 1st January 2019, which means the PSU and corporation employees will get additional arrears of 13 months. The UP Government Order further says that those PSUs and Corporations who haven't implemented the 7th CPC, they will have to pay 154 per cent DA to its employees and its employees will get 154 per cent of their basic salary from 1st January 2019. Those who are getting revised pay from 1st January 1996, will get 295 per cent of their basic salary.
See Zee Business Live TV streaming below:
Speaking on the recent DA announcement for the UP government's PSUs and Corporations Harishankar Tiwari, General Secretary at All India Audit and Accounts Committee said, "DA is announced twice in a year on a half-yearly basis. The DA is announced after calculation of the AICPI index and its stats for the last six months."
Asked about the impact of this DA hike for the UP Government's PSUs and Corporations Harishankar Tiwai gave the following chart:
Level Basic Salary Hike post-DA
Level-1 Rs 18,000 Rs 2,160
Level-2 Rs 19,900 Rs 2,388
Level-3 Rs 21,700 Rs 2,604
Level-4 Rs 25,500 Rs 3,060
Level-5 Rs 29,200 Rs 3,504
The UP Government Order further declares that those employees who haven't got 50 per cent of their7th Pay Commission Basic Pay, they will get 345 per cent DA of their basic salary from 1st January 2019. For the non-revised employees, they will get 337 per cent DA of their basic salary.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.