CG employees EPF- If there is an increase in dearness allowance of central employees, then other components will also see an increase.
Good news for central employees. His Provident Fund is going to increase soon. This means that the retirement fund is going to increase. The contribution of EPF will increase from July. With this, the central employees will have a large corpus (CG employees EPF) at the time of retirement. Actually, Dearness allowance is going to be restored from July 1. The installment which has been stalled since last year will start getting.
Minister of State for Finance Anurag Thakur had made it clear that the three installments of dearness allowance will be given in July. This includes installments of January 2020, June 2020, January 2021. However, in June 2021, dearness allowance may be announced. In such a situation, from July 1, there will be a big salary in the pocket of central employees, as well as their provident fund (CG employees EPF) will also increase significantly.
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
The 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.
Pensioners will also get benefit
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.
What is dearness allowance and dearness relief?
Dearness allowance or Dearness relief is money that 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. 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.
