Monday, 5 May 2014

Bank DA for May, June & July 2014

Dearness Allowance for Workmen and Officer Employees in banks for the month of May, June and July 2014 is payable for 650 slabs shall be 97.50%.  IBA Order:-


Indian Banks' Association

HR & INDUSTRIAL RELATIONS
No.CIR/HR.&IR/76/D/2014-15/9323
2nd May, 2014

All Members of the Association
(Designated Officers)

Dear Sirs,
Dearness Allowance for Workmen and Officer Employees in banks for the months of May June & July 2014 under IX BPS/Joint Note dt. 27.4.10
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base1960=100) for the quarter ended March 2014 are as follows:-

Jan 2014 - 5409.74
Feb 2014 - 5432.56
Mar 2014 - 5455.39

The average CPI of the above is 5432.56. The DA paid for the quarter Feb to Apr 2014 was CPI average of 5500. Hence, there is a reduction in CPI of 67.44 Points (16 slabs).

Consequently, dearness allowance to employees is payable for 650 slabs for the period May, June & July 2014 i.e. a decrease of 16 slabs over the current level.

In terms of clause 7 of the 9th Bipartite Settlement dated 27.04.2010 and clause 3 of the Joint Note dated 27.04.2010, the rate of dearness allowance payable to workmen and officer employees for the months of May, June & July 2014 shall be 97.50% of 'pay'. While arriving at dearness allowance payable, decimals from third place may please be ignored.

We advise banks to pay the difference between the old and revised salary and allowances to officers on an ad hoc basis, pending amendments to Officers' Service Regulations.

Yours faithfully,
sd/-
K S Chauhan
Senior Vice President
Source: www.iba.org.in
[http://www.iba.org.in/Documents/DA_May_Jun_Jul_14.pdf]

Dearness Allowance from Jan, 2014 @ 200% for CG & CAB Employees in 5th CPC Scale

Dearness Allowance from Jan, 2014 @ 200% for CG & CAB Employees in 5th CPC Scale 



No.1(3)/2008-E.II(B)
Government of India
Ministry of Finance
Department of Expenditure
North Block, New Delhi
Dated: 22nd April, 2014.
OFFICE MEMORANDUM
Subject: Rates of Dearness Allowance applicable w.e.f. 1.1.2014 to employees of Central Government and Central Autonomous Bodies continuing to draw their pay In the pre-revised scale as per 5th Central Pay Commission.
The undersigned is directed to refer to this Department’s O.M. of even No. dated 7th October, 2013 revising the rates of Dearness Allowance in respect of employees of Central Government and Central Autonomous Bodies who continue to draw their pay and allowances in the pre-revised scales of pay as per 5th Central Pay Commission.
2. The rates of Dearness Allowance admissible to the above categories of employees of Central Government and Central Autonomous bodies shall be enhanced from the existing rate of 183% to 200% w.e.f. 1.1.2014. All other conditions as laid down in the O.M. of even number dated 3rd October, 2008 will continue to apply.


3. The contents of this Office Memorandum may also be brought to the notice of the organizations under the administrative control of the Ministries/Departments which have adopted the Central Government scales of pay.

sd/-
(Subhash Chand)
Deputy Secretary to the Government of India

Source: www.finmin.nic.in
[http://finmin.nic.in/the_ministry/dept_expenditure/notification/da/da_order_cab01012014.pdf]

Expected DA from July 14 - Looks like the curiosity surrounding the expected DA is fast receding.

Expected DA from July 14 - Looks like the curiosity surrounding the expected DA is fast receding..!
One of the possible reasons for the dampening interest could be the fact that unlike last time, there is not going to be a DA hike. Although it is very well known that the hike is based on price rise and inflation, it probably feels to them as if something was lost.
This time there is no double-digit increase. It is only going to be a single-digit hike.
At the most, one can expect an increase of 7%. That too is not for sure. All that depends on the soon to be announced AICPIN points for balance months.
After announcing the second additional DA for the year 2014, there are only two instalments left. With the instalments of January 2015 and July 2015, the 6th CPC comes to a close.
The next additional DA will be based on the 7th CPC.

Additional Dearness Allowance formula could be changed in the 7th CPC. They could announce a new Base Year. There could also be a change in the 115.76 yardstick. Nothing can be said for certain this time.
There is already a proposal to change the Labour Bureau Base Year from ‘CPI-IW 2001=100’ to ‘CPI-IW 2015 =100’.  The current series of CPI-IW with base 2001=100 was constructed on the basis of employment data in seven sectors namely, Registered Factories, Mining, Plantations, Ports & Docks, Public Motor Transport, Electricity Generation & Distribution Establishments and Railways sector. The current series comprises of a basket of about 370 items and 289 price collection markets spread across 78 centres of the country.
The new series of CPI-IW will cover 7 sectors and 88 cities in 27 states have been selected for the new recommendation of CPI-IW (2015-100). It is worth mentioning that a special Standing Tripartite Committee (STC) under the chaired by Prof. G.K. Chadda has been created in this regard.

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