Thursday, January 31, 2013

Central D.A. to increase @8% from Jan'13. Bank D.A to increase 25 slabs from Feb'13

Consequent upon the release of AICPIN data for Dec'12, the final calculation of D.A. is now possible.
Central employees are going to get a hike of 8% of basic pay with effect from 1st January 2013, as calculated and predicted earlier.
In case of Bank employees, the hike will be 25 slabs (3.75%) for Feb/Mar/Apr'13. It was also hinted in this blog that increase of one point in the AICPIN of Dec'12 will make the increase of two slabs more and that actually happened. Detailed calculation is provided below.
Click here for IBA Circular Dated 1.2.13
Click Here for Scalewise Increase

The DA for Bank Workmen/Officers are calculated quarterly based on Average Consumer Price Index Numbers (Base 1960=100) for the previous quarter. Confirmed CPI (IW)figures are furnished hereunder:
Base Year 2001=100                                 Base Year 1960=100
October                 217                                               4953.22
November            218                                                4976.05
December'12.      219                                               4998.87
As such there will be 25 slabs increase in DA for Bank workmen/officers w.e.f feb 2013, from current level of 510 slabs. at a rate of 80.25%( 3.75 %increase from present 76.50%.)
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Details of Calculation is furnished hereunder for information:
Average CPI for the quarter :                                   4976
Less Merged points                                                  2836
Slabs/4                                                                         535
DA    percentage-x0.15                                             80.25%%
Please note that IBA's circular will be issued shortly.

Detailed calculationSubmitted by.Mohan.P

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