In July, the central employees might get three significant announcements. According to media sources, central government employees could receive a triple bonus this month, including a raise in their Dearness Allowance (DA), payment of an 18-month DA arrear, and interest on their Provident Fund (PF).
6% DA Hike to Be Announced in July:
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. According to the 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.
When Will Employees Get the 18 Months Pending Dearness Allowance Arrears?
The news about the 18-month-old Dearness Allowance (DA) arrears has picked up momentum once more. According to recent rumors, the issue 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 the Rs 1.5 lakh in pending arrears in their accounts all at once. The pay band and organizational structure of the employees would determine the amount of DA arrears.
Provident Fund Interest Transfer
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 to the accounts of its customers. Every year, EPFO releases the PF interest rate.
