The most recent media reports suggest that after Holi 2023, the minimum wage for government employees would certainly increase. The increase will bring the minimum salary up to $26,000 from its present level of Rs 18,000.
This year, Holi will be celebrated on March 8. Based on the 7th Pay Commission's suggestion, the government is likely to decide on the fitment factor after Holi.
The common fitment factor is 2.57 percent as of right now. The entire pay for someone who receives a basic salary of Rs 15,500 in the 4200-grade pay is therefore Rs 15,500 X 2.57, or Rs 39,835. The fitment ratio of 1.86 has been suggested by the 6th CPC.
According to reports, the government has held multiple rounds of meetings about this and plans to execute it before 2024. It may be announced to be implemented in March 2023, following the Holi festival.
Employees are now reportedly demanding that the government increase the fitting factor to 3.68. The increase will bring the minimum salary up to Rs 26,000 from its present level of Rs 18,000.
According to earlier reports, the central government is also anticipated to increase the dearness allowance (DA) for government employees beginning on January 1 in March 2023. DA and DR are updated twice a year, on January 1 and July 1, respectively.
The Finance Ministry has revised the guidelines for the House Rent Allowance (HRA) for employees of the 7th pay commission.
When is DA Increased?
After a six-monthly review, the dearness allowance is increased twice a year based on ACIPI numbers. Before Holi, the increase in the dearness allowance will be revealed.
A rise in the dearness allowance will help the nation's 68 lakh seniors and roughly 47 lakh employees. At the start of the year, the government boosted DA by 3%, which caused the dearness allowance to grow to 38%. The dearness allowance will increase by 41% if it receives a three percent increment.
