Employees’ EPF contribution may increase from 1 July 2021. Three installments of dearness allowance will be released. With this, dearness allowance can increase to 28 percent. If this happens, there will be a big increase in the provident fund.
In this crisis-ridden environment of Corona, central employees can get good news. It is believed that due to the corona epidemic from January 2020, the stuck allowance allowance can be restored from July 1. With the increase in dearness allowance, the retirement fund of the employees i.e. Provident Fund will also increase. Let us tell you that from 1 July 2021, the EPF contribution of employees can increase. Three installments of dearness allowance will be released. With this, dearness allowance can increase to 28 percent. If this happens, there will be a big increase in the provident fund.
What is dearness allowance and who gets it
Dearness allowance is such money, which is given to improve the standard of living of the government employees of the country.
Dearness relief allowance to pensioners. In the whole world, only India, Pakistan and Bangladesh are given this allowance to government employees.
Why da got stuck
This money is given so that even after rising inflation, the level of living of the employee is not disturbed due to money. This money is given to government employees, public sector employees and pensioners.
Now what will the government do
Minister of State for Finance Anurag Thakur had recently made it clear that in view of the recommendations of the 7th Pay Commission (7th CPC news), three installments of dearness allowance will be given in July.
This includes installments of January 2020, June 2020, January 2021. Apart from this, dearness allowance will also be fixed in June 2021.
In such a situation, after July, there may be a thick salary in the pocket of central employees. However, it is difficult to say how much the dearness allowance will increase in June 2021.
Experts are assuming that for June 2021, there can be a 4 percent jump in dearness allowance. If this happens, the dearness allowance will rise to 32 percent.
If there will be an increase in Dearness allowance of central employees, then there will be an increase in other components as well. It also includes provident fund and gratuity. A big increase can be seen in both of them. Let us understand how…
PF amount will increase
Provident Fund and Gratuity deducted from the salary of Central Govt Employees is calculated from Basic + DA. In July, there will be an 11 per cent jump in DA of employees.
Its direct effect will also be seen on PF and Gratuity. DA will increase from 17 per cent to 28 per cent. In this case, the contribution of PF and gratuity will also increase. Increase in dearness allowance will also affect travel allowance.
Central pensioners will also get benefit of increase in DR. Their DR will increase from 17 percent to 28 percent. His monthly pension will increase. About 65 lakh pensioners will get direct benefit of this.
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