Tuesday, February 07, 2017

7th Pay Commission: Dearness Allowance to bank employees to be paid from February as per revised scale

The order to this effect was issued on February 1 which stated that employees will be paid the DA for the months of February, March and April 2017.

Bank employees under the Central government payroll will get Dearness Allowance (DA) as per the recommendations of the Seventh Pay Commission.

The order to this effect was issued on February 1 which stated that employees will be paid the DA for the months of February, March and April 2017.

The order brings much cheer to employees who were otherwise disappointed with Finance Minister Arun Jaitley for not saying a single word on the Seventh Pay Commission in his

On the basis of the Consumer Price Index (CPI) announced by the government, the DA payable to bank employees for February-April will be 46.9 per cent of the pay.

In another development, the government has started releasing the Seventh Pay Commission arrears to defence pensioners. The amount released and the number of pensioners to be benefitted from this are still being calculated.

The information was shared by Union Minister of State for Defence Subhash Bhamre in a written reply to AIADMK MP M Vasanthi in Lok Sabha recently.

Among autonomous bodies, the Bureau of Indian Standards (BIS) will start getting revised salary as per the Seventh Pay Commission's recommendations. BIS falls under the aegis of the Ministry of Consumer Affairs. Ram Vilas Paswan, who is in-charge of the ministry, approved the revised salary for BIS employees.

Much to the disappointment of Central government employees, the Finance Minister did not mention them in his Budget speech on February 1. However, employees are hopeful that there will be some announcement at the start of the new financial year in April.

Several state governments have made announcements on implementing the recommendations of the Seventh Pay Commission. Poll-bound Uttarakhand was among the first to implement the recommendations from January 1.

The Seventh Pay Commission recommended a 14.27 per cent hike in basic pay--the lowest in 70 years. The previous Sixth Pay commission had recommended a 20 per cent hike, which the government doubled while implementing it in 2008.

The National Joint Action Committee (NJAC) wants the minimum wage to be raised to Rs 26,000 as against the Rs 18,000 suggested by the commission.

The Pay Commission also recommended doing away with 53 of the 196 allowances besides moderation in several others. The recommendations cover nearly 50 lakh central government employees and 58 lakh pensioners

Source:http://indiatoday.intoday.in/story/7th-pay-commission-bankers-dearness-allowance-revised-scale/1/876968.html