DA Hike 2024: This New Year celebration brought good news to employees and pensioners. The government declared a hike in Dearness Allowance (DA), which would later mean extra pay for employees and pensioners in the coming months. This move shall alleviate some pressure regarding financial status amid the rising inflation for government employees and pensioners. Let’s find out about the hike in dear allowance in 2024 also.
What Is DA Hike 2024?
Dearness allowance is that allowance given to government employees and pensioners considering their cost of living. The time to time enhancement in this allowances is there, so that the same actually can be applied for making adjustments in the salary of employees and pensioners regarding the increased impact due to inflation. The decision about the Dearness Allowance Increase was probably taken in 2024 by the Central Government. This news has proved to be a boon for Indian employees and pensioners. This increase is particularly important for the employees whose salary needed to be revised keeping in view the inflation rate.
How Much DA Hike 2024 Has Been Increased?
The central government has announced an increase in Dearness Allowance in the range of 4% with effect from January 2024. The increase is significant for central government employees and pensioners, as it brings a huge rise in the salary amount. The announcement will involve all central employees and pensioners in 2024, and this increase will directly get deposited to their salary/pension amount.
How Will DA Hike 2024 Be Calculated?
Adding to Basic Salary of Employee: There would be an increase in dearness allowance by applying the new dearness allowance policy with basic salary. After implementing this dear allowance, almost 4% dear at allowance would increase in basic salary for employees.
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