The federal government has made changes in the rates of dearness allowance (DA), aligning it with the rising cost of living for employees. The new rates will be applied to the existing DA rates for board-level executives and supervisors in central public sector enterprises (CPSEs).
In a notification, the department of public enterprises announced that the DA will be revised for all the executives in central public sector enterprises (CPSEs) holding board level posts, below board level posts, and non-unionized supervisors in accordance with the IDA pattern of 1992 pay scales.
For a monthly basic pay of up to Rs 3,500, the DA rate will be 701.9 per cent of the pay, with a minimum of Rs 15,428. If the basic pay falls between Rs 3,500 and Rs 6,500, the DA rate will be 526.4 per cent of the pay, with a minimum of Rs 24,567.
Similarly, for a basic pay between Rs 6,500 and Rs 9,500, the DA rate will be 421.1 per cent of the pay, with a minimum of Rs 34,216. Finally, for a basic pay above Rs 9,500, the DA rate will be 351.0 per cent of the pay, with a minimum of Rs 40,005.
Moreover, the notification also stated that the DA payable to executives holding board level posts, below board level posts, and non-unionised supervisors following the IDA pattern in CPSEs with 1987 pay scales may be Rs 16,215.75.
The revised rates will come into effect starting July 1, 2023.
Value our content... contribute towards our growth. Even a small contribution a month would be of great help for us.
Since eight years, we have been serving the industry through daily news and stories. Our content is free for all and we plan to keep it that way.
Support HRKatha. Pay Here (All it takes is a minute)
