7th Pay Commission Matrix: Good news for central employees, PF balance may increase with salary in July

7th Pay Commission Latest News: From July 1, employees of the Central Employees Association are expected to increase their allowance. Finance Minister Anurag Thakur has already announced this in the Rajya Sabha. Employees are currently offered a DA at a rate of 17 percent, which is expected to increase from 11 percent to 28 percent. This will greatly increase their salary. At the same time, employees will be directly benefiting the DA for two years, as the central employee’s allowance has been increased by 4 percent in January 2020, then increased by 3 percent in the second half of June, 2020, and now in January 2021, the allowance has risen again to 4 percent. Please note that these three installments have not yet been paid.

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We all know that some part of our salary and dear allowance are deducted from future funds. If the dearness allowance increases from 17% to 28%, the PF contribution also increases. People benefit from it in the long run. Wealth management expert Kartik Zuari explains, ‘With the increase in central employee allowance, their PF contribution also increases as before. This may lead to a large increase in PF balance in the long run.

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According to the Central Employees Salary-Matrix, the minimum wage is Rs 18,000 and it is expected to add a 15% love allowance. In this sense, 2700 rupees per month is directly added to the wage. If we look at it on an annual basis, the total dearness allowance is Rs. In fact, dear allowance for June 2021 is also to be announced. If sources are to be believed, it is estimated to increase by 4 percent. If this happens, after paying the three installments on July 1, there will be a further 4 percent payout in the next 6 months.

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