The Dearness allowance to bank employees is paid under the 11th bipartite settlement between bank unions and IBA (Indian Bank’s Association) signed on 11th November 2020. The settlement is effective from November 1, 2017. The dearness allowance is paid based on the Consumer Price Index (CPI) number published by the Labor Bureau of India.
The Dearness Allowance (DA) for bankers for the period from August 2022 shall be based on CPI(IW) numbers from April 2022 to June 2022. The latest CPI(IW) data with the base year 2016 is as under.
April 2022- 127.70
May 2022- 129
June 2022- to be declared
If CPI (IW) remains at the same level during June 2022 as in May 2022, the DA to bank employees shall be payable for 525 DA slabs as against the existing 472 DA slabs i.e. an increase of 53 DA slabs.
Based on the above, the Expected DA from August 2022 is 36.75%. The existing DA rate for the period of May 2022 to July 2022 is 33.04% Hence there shall be an increase of 3.71% in dearness allowance for the period from August 2022 to October 2022.
.jpeg)
No comments:
Post a Comment