DA Hike January 2024: There is good news for central employees and pensioners. Dearness allowance is going to increase once again. But, in another matter the central employees are going to get good news.
First let’s talk about dearness allowance. AICPI index has reached 139.1. In such a situation, a 4 percent increase in the Dearness Allowance (DA Hike) of central employees is considered certain. This will bring a big jump in the salaries of the employees. More than 1 crore employees and pensioners will directly benefit from this.
The Modi government at the Center can once again increase the dearness allowance (DA Hike) of central employees by 4% for the new year i.e. January 2024. However, this increase will happen in March. AICPI figures till November 2023 have arrived, which are pointing towards an increase of 4 percent. If dearness allowance is increased by 4 percent then it will reach 50% (Dearness Allowance).
Central employees will get double good news
Now let’s talk about the second good news. Central employees can also get the gift of fitment factor. This has been in demand for a long time. Now there are talks of it increasing this year. If this happens, there will be a big jump in salary. Due to increase in fitment factor under the 7th Pay Commission, the basic salary of central employees will increase by Rs 8,860.
This increase can be given after DA Hike. At present, the fitment factor is 2.57 times. It is likely to increase to 3.68 times in the coming days. If this happens then the basic salary at Level-3 will increase from Rs 18000 to Rs 26000. There will be a direct increase of Rs 8000 in the salary of the employees. Besides, this will also impact the payment of DA.
X Class & TPTA – Basic salary Rs 18000 per month
Basic Pay: Rs 18,000
Dearness Allowance (46%): Rs 8,280
House Rent Allowance (27%): Rs 5,400
Transport Allowance: Rs 1,350
DA on Transport Allowance: Rs 621
Gross Salary: Rs 33,651
Salary will increase by Rs 49,420 due to Fitment Factor
If the basic salary of a central employee at Level-3 is Rs 18,000, then excluding allowances his salary will be Rs 18,000 X 2.57 = Rs 46,260. If the fitment factor is increased to 3.68 times then the salary will reach 26000X3.68= Rs 95,680. Employees will get bumper benefits in this. This means that overall the employees will get an increase of Rs 49,420 as compared to the current salary. This calculation is on minimum basic salary. Those with maximum salary can get bigger benefits.
