Big Salary Hike! Good news for Andhra Pradesh government employees - Know pay revision, arrears, DA, pension and more
Andhra Pradesh government employees salary hike: The pay revision would come into effect from July 1, 2018 while the monetary benefits would be paid with effect from April 1, 2020
Andhra Pradesh government employees salary hike: It is big good news for Andhra Pradesh government employees! Andhra Pradesh government on Friday announced a wage enhancement for its employees with a fitment of 23.29 per cent while simultaneously increasing the retirement age from 60 to 62 years, as per a PTI report.
For the second day in a row, Chief Minister Y S Jagan Mohan Reddy held talks with leaders of various employees' associations wherein he announced the wage revision and other benefits.
Also, the Chief Minister set timelines for addressing the various other pending issues of the employees by June 30 this year.
Pay revision from July 1, 2018
-The pay revision would come into effect from July 1, 2018 while the monetary benefits would be paid with effect from April 1, 2020, Jagan told the employees' associations.
-The new salaries with enhanced scales would be implemented from January 1, 2022.
-The wage revision would impose an additional financial burden of Rs 10,247 crore on the government per annum.
DA
-The Chief Minister told the employees' associations that the pending DA instalment arrears would be paid along with the January salary.
Other pending payments
-Also, the pending payments like provident fund, insurance, leave encashment and others would be cleared fully by April.
Contributory pension scheme
-On the contributory pension sheme, the Chief Minister said a Cabinet Sub-Committee was looking into it and a final decision would be taken by June 30.
A committee headed by the Chief Secretary would be constituted to look into the troubles plaguing the employees health scheme and find solutions.
(With PTI inputs)
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.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
07:43 PM IST