3 Bumper Updates for Central Govt Employees in July regarding 7th pay commission; Want to Know!! Money Money Money!!

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3 Bumper Updates for Central Govt Employees
3 Bumper Updates for Central Govt Employees

3 Updates for Central Govt Employees in July regarding 7th pay commission; Want to Know!! Money Money Money!!Three big announcements regarding 7th pay commission for Central Government Employees. More money in flow. Announcement will be in July 2022 based on the Dearness Allowance (DA), Payment 18-Months DA arrear & Interest on Provident Fund (PF). Check details here.

Dearness Allowance:                           

According to recent media sources, the Dearness Allowance may increase by 6% in July. This implies that the overall DA could be as high as 40%. According to numerous media sources, the administration might announce a raise in the DA on July 31. Employees will have to wait for official confirmation of these speculative claims. On the basis of Most Recent Ministry Data, the AICPI figures for May are at 129, which suggests with certainty that the DA would be greater than anticipated, or 6 percent, according to multiple media websites.

Payment 18-Months DA arrear:

The stories about the 18-month-old Dearness Allowance (DA) arrears have picked up momentum once more. According to recent rumours, the topic of the 18-month DA arrears from January 2020 to June 2021 may be discussed soon. Employees of the Central Government shouldn’t give up on receiving Rs.1.5 lakh in pending arrears in their accounts all at once. The pay band and organisational structure of the employees would determine the amount of DA arrears.

Interest on Provident Fund (PF):

For the fiscal year 2021–2022, the Central Board of Trustees, EPF, had suggested crediting EPF accumulations in members’ accounts at an annual rate of interest of 8.10 percent. Following the official publication of the interest rate in the government gazette, EPFO immediately began crediting the rate of interest into the accounts of its customers. Every year, EPFO releases the PF interest rate.

So, this is advantage for employees who are working in the Central Government. It may be confirmed officially soon in July regarding three big announcements. Follow our site for daily updates regarding this.

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