DA Hike Announced: How is dearness allowance calculated for central government employees?
The DA is calculated as a percentage of an employees basic salary. Depending on inflation, it is adjusted twice a year. It is calculated on the consumer price index (CPI) and industrial average. When we calculate DA on the basis of CPI, we first determine CPI. The CPI is published by the Labour Ministry of the central government.
How is DA Calculated: Centre announced a four per cent increase in Dearness Allowance and Dearness on Thursday. With this hike, central government employees and pensioners will get 50 per cent DA of their basic salary.
There was also a 25 per cent increase in transport allowance, deputation allowance, and canteen allowance.
Also Read | 7th Pay Commission: Centre increases tax exemption limit on gratuity from Rs 20 lakh, know details
Apart from that, House Rent Allowance (HRA) has also been raised for different categories from 27 per cent to 30 per cent, from 19 per cent to 20 per cent, and from 9 per cent of the basic pay to 10 per cent. Tax exemption limit on gratuity has also been increased from Rs 20 lakh to Rs 25 lakh.
Also Read | DA Hike Announced: Central govt employees to get 4% increase in dearness allowance | 7th Pay Commission
Amid the news that will give relief to crores of central government employees, here is how DA is calculated for central government employees.
How is DA calculated?
The DA is calculated as a percentage of an employee's basic salary. Depending on inflation, it is adjusted twice a year.
DA is calculated on the basis of the consumer price index (CPI) and industrial average.
Also Read | 7th Pay Commission: Along with 4% DA, Centre also hikes HRA; know new limits
When we calculate DA on the basis of CPI, we first determine CPI.
CPI data is published by the Labour Ministry of the central government.
DA calculation for Central government employees
Dearness Allowance % = ((Average of AICPI (Base Year - 2001=100) for the past 12 months -115.76)/115.76) *100
For central public sector employees
Dearness Allowance % = ((Average of AICPI (Base Year - 2001=100) for the past 3 months -126.33)/126.33) *100
Here, AICPI is All-India Consumer Price Index
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.