This time a total of Rs 72,000 crore deposited in the account of the government will be sent to the account of the employed, 8.1 percent interest rate has been fixed for the financial year 2020-21. The maximum amount can be sent to the account of employees up to 81000. In this way, different amount will be transferred to different accounts. However, this will be the first time in 40 years that more than 6 crore employees will get such a low interest on PF. Explain that the interest is calculated on the basis of monthly running balance that is deposited in the PF account every month.

It is believed that if an employee has Rs 1 lakh in his account, then the interest amount will come to Rs 8,100. If Rs 10 lakh is lying in your account, then Rs 81,000 and Rs 5 lakh is deposited then interest of Rs 4000 can be transferred. Is.

If a consumer has Rs 7 lakh in his account, he will get Rs 56,700. Explain that the interest is deposited at the end of the year. Interest is not available on the entire amount deposited in the EPF, interest is not available on the amount going to the pension fund in the PF account.

Check balance in these ways

PF customers can check their PF balance sitting at home using four different methods. PF balance can be checked by SMS, online, missed call and using UMANG app.

how to check epf account balance online

• Log on to epfindia.gov.in. Feed your UAN number, password and captcha code
• Click on E-Passbook.
• When you have entered all the details, you will be redirected to a new page. now open member id
• Now you can see the total EPF balance in your account. How to check EPF balance through UMANG App?

open umang app

• Click on EPFO. Click on Employee Centric Services.
• Click on View Passbook option Feed your UAN number and Password.
• You will receive OTP on your registered mobile number Now you can check your EPF balance.

The post Employees Latest Update: Good Diwali for employees, Rs 40,000 to 81,000 will come in the account, know details first appeared on Rightsofemployees.com.

Now new recruitment will be available on the posts of assistant teachers. However, the posts of Graduate Instructor Assistant Teachers will continue as before. New cadres have been constituted by the Jharkhand Government for Assistant Professor in Preliminary School. New pay scales have also been fixed for this. 20825 posts of Intermediate Trained Assistant State were created while 29175 posts of Graduate Trained Assistant Professors were created in Middle School. 17446 posts of Inter Trained Assistant Teacher have been surrendered.

Recruitment will be seen on 50000 posts. In which 50% posts will be filled by promotion while 50% posts will be filled by direct recruitment. Salary will be made available to these teachers under the new pay scale. Let us inform that earlier, the pay scales of 35400 were made available to the inter-trained assistant teachers of classes I to V. Under the rules now, teachers will be provided pay scales of 25500 for appointment to the posts of Inter-trained Assistant Professor.

Under the same rule, the pay scales of promotion appointment level 47600 were fixed to teachers from class VI to VIII. Under the new rule, now the employees will be provided pay scale of 29200 for appointment to the posts of Graduate Trained Assistant Professor from class 6 to 8.

The post Employees Latest Update: Big News ! Employees will get the benefit of new pay scale, 29,200 rupees will come in the account first appeared on Rightsofemployees.com.

Apart from this, revision in HRA of central employees will also be done on time. Its benefit will be more than 47.68 lakh central employees and more than 68.52 lakh pensioners. There will be a jump in salary from 20 thousand to 2.50 lakh.

Dearness allowance will increase by 4%?

The Modi government at the Center can announce an increase in 4% dearness allowance and dearness relief for the second half in August.

After the release of the June data of the AICPI index, it is believed that the DA of the employees will increase by 4 to 5%. If it is implemented from July 1, then the arrears of July-August will also be available.

If the basic salary of a central employee is Rs 20,000 per month, then at the current rate of 34 per cent, he is getting DA of Rs 6,800 per month, then at 38 per cent, the amount will increase by Rs 800 per month to 7,600. That is, you will get a profit of Rs 9,600 annually, according to this, the annual DA of an employee with basic salary of Rs 20,000 will be Rs 91,200.

If we look at the maximum basic salary of Rs 56,900, then the total increase in annual dearness allowance will be Rs 27312. That means Rs 2276 will increase every month against the existing DA. His total annual DA will reach Rs 2 lakh 59 thousand 464.

Fitment factor also expected to increase

According to the recent reports, along with DA, HRA, central employees have been waiting for an increase in the fitment factor for a long time. Now that the increase in DA has been announced, then their hope has got wings.

It is expected that soon the government can also take a big decision on the fitment factor of central employees. The fitment factor plays an important role in the salary received by the employees. Due to this factor, the salary of central employees increases by more than two and a half times.

Possible increase in house rent allowance?

Currently, HRA rates are 27%, 18% and 9% depending on the category of the city, it is possible to increase it up to 3%. It is believed that soon the HRA of X category employees can be increased by 3 percent, Y category HRA by 2 percent and for Z category 1 percent HRA can be increased. Thereafter, it will increase from 27% to 30%, although this will be in case the DA rises from 34 per cent to 50 per cent.

According to the 7th Pay Matrix, the maximum basic salary of employees is Rs 56,900, then if HRA is 27 percent, there will be a profit of 20,484 in the salary. For example, house rent allowance is Rs 56900 x 27/100 = Rs 15363 per month, then 30% HRA If it is Rs 56,900 x 30/100 = Rs 17,070 per month, that means the total difference will be Rs 1707 per month.

The annual HRA will increase by Rs 20,484. These rates vary according to the area and city, currently the minimum HRA for all three categories is Rs 5400, 3600 and 1800. According to the same 7th Pay Matrix, the minimum salary of employees is Rs 18000 and maximum basic salary is Rs 56,900.
rising demand to increase

It is worth noting that there has been a long-standing demand of central employees to increase their fitment factor from 2.57 per cent to 3.68 per cent. After this, there will be a tremendous increase in the minimum salary of the employees.

Let us tell you that the last time the fitment factor was increased in the year 2016. The 7th Pay Commission was also implemented in the same year. At that time the minimum salary of the employees had gone straight from Rs 6000 to Rs 18,000.

Now the government can increase the salary of central employees again this year. The fitment factor decides the basic salary for all central government employees. This time, if there is a possible increase in the fitment factor, then the minimum basic pay will increase from Rs 18,000 to Rs 26,000.

The post Employees Latest Update: Good news for employees, 4 other allowances will increase along with dearness allowance first appeared on Rightsofemployees.com.

After the release of the June data of the AICPI index, it is believed that the DA of the employees will increase by 4 to 5%. This will benefit more than 47.68 lakh central employees and more than 68.52 lakh pensioners. In fact, under the rules of the Seventh Pay Commission, the central government revises the dearness allowance and dearness relief rate of central employees twice in a financial year.

Since dearness allowance depends on the AICPI-IW Index, the Ministry of Labor and Employment has released the figures from January to June 2022, which has seen an increase. Talking about the data for June, the All India Consumer Price Index was compiled at a level of 129.2 points, increasing by 0.2 points, in such a situation, an increase of 4 to 5% DA is believed to be fixed. It can be implemented from July 1, this will see a big jump in salary.

Earlier there was news that it would be announced in the cabinet meeting to be chaired by PM Narendra Modi on August 3, but it did not happen. But now it is expected that after reviewing the data, the Modi government can give new DA to the employees before Raksha Bandhan in August. 

At present, the total dearness allowance of central employees is 34 percent, it is likely to increase by 5 percent, although at present only 31 percent DA is being given in most of the states.

what is dearness allowance

To provide relief amid rising inflation, dearness allowance was given to government employees by adding them to the salary. The central government revises the dearness allowance twice a year. Usually DA revision takes place twice in March and September. The new rate is applicable from January and July. For this, the Central Government revises it from time to time keeping in mind the retail inflation rate and pensioners are also given this relief in the form of DR or Dearness Relief.

The post Good News for Employees! Dearness allowance will increase soon, salary will increase up to 90,000, see calculation first appeared on Rightsofemployees.com.