Many central government employees will finally receive good news in September after months of waiting. Even though the highly anticipated Dearness Allowance (DA) boost is the topic of conversation, two other major gifts are also in line. Around Navratri next month, a DA increase of 4% is likely, bringing the total increase for central government employees to 38%.
In addition to DA, two other bonus announcements regarding the demand for DA arrears and, ultimately, interest payments for Provident Fund (PF) accounts, may be announced in September. Many central government employees will finally receive the good news in September after months of waiting.
Employees of the central government stand to get a sizable sum in their bank accounts in the upcoming month as a result of the triple bonanza. This will be a huge boost at a time when household finances are under pressure due to growing prices.
The interest amount for PF could be declared by the end of August or in September, while the DA boost may be announced following the following cabinet meeting and around Navratri 2022.
Since the DA increase was decided upon using AICPI data, a 4 percent increase is all but guaranteed. The All-India Consumer Price Index increased by 1.3 points in May to reach 129, and then by 0.2 points in June to reach 129.2.
Additionally, it has been stated that the 18-month DA arrears issue, a long-standing request for reimbursement for the Covid-19 freeze, may perhaps soon bring about good news. According to DNA affiliate Zee News Hindi, the issue has now reached PMO. A choice could be made soon regarding the situation. Additionally, it has been said that the employees' side is open to discussing a settlement and the means of payment for it.
Finally, by the end of this month, interest payments will be made to the more than 7 crore account holders with the Employees' Provident Fund Organization (EPFO). According to the article, account holders will get PF at an interest rate of 8.1% this time.
