Good news for central government employees?

Good news for central government employees?
Core Employees will get three big rewards in September. The first is the dearness subsidy for employees. It will be increased once again by 4 percent. The decision may be made in ongoing discussions with the government about DA arrears. Meanwhile, the third is related to the Provident Fund (PF), according to which the interest money in the PF account is likely to arrive at the end of August or in September. In fact, the DA increase is based on AICPI data. Previously, the increase in employee DA was also determined by the AICPI index data in the month of May. The AICPI in June is expected to be higher than May before the fastest growing AICPI data since February. The AICPI index figures increased considerably in June. It gained 1.3 points to 129 points in the month of May. The June number came in at 129.2. A 4% increase in the shortage allowance is now expected in September.

The issue of outstanding dues (DR) for 18 months has now come to the notice of Prime Minister Narendra Modi. A decision on this is likely to be made soon. In such a situation, the central employees wait with full hope that they will soon receive a dearth allowance from the central government. Due to the Covid-19 pandemic, the Ministry of Finance suspended the DA increase until June 30, 2021 in May 2020. The Employees Provident Fund Organization (EPFO) is going to hear good news about the interest in the account of more than 7 million rupees customers. Interest money can be transferred to PF clients’ bank account at the end of this month. Because according to the information received so far… PF is calculated. This time according to 8.1%. The employees say that this time PF’s interest will be credited to the account.

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Source: IndiaHerald.com – Purushottham Vinay]]>

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About the Author: Pierre Cohen

A person who has expertise in politics and writes articles to fill his spare time as a hobby.