Expected DA slabs increase for Bank Employees (Clerk, Officers, Bank staff) for month of Nov 2021, Dec 2021 and Jan 2022 – Dearness allowance (DA) is revised every quarter based on consumer price index AICPI (IW) data published by Labor Bureau. Get latest updates here regarding expected DA slabs increase for bank staff / employees (Clerk, Officers, Workmen).
Expected DA increase for Bank Employees Nov 2021 – Jan 2022
Labour Bureau has declared the average AICPIN for the month of July 2021. As per 11th BPS, DA for bank employees (workmen and officers) increased by 2.10 percent to 27.79 percent.
Final DA increase for bank employees (workmen and officers) will be updated once the confirmed All India Average Consumer Price Index Numbers for industrial workers for month of Aug 2021 and Sep 2021 are published on Labour Bureau website.
In this post, we are supposing, if AICPIN number remain same for Aug 2021 and Sep 2021 then what will be DA increase for bank staff.
Expected DA Increase for Bank Staff Nov 2021 – Calculation
We will calculate the increase in dearness allowance for bank employees for month of Nov 2021, Dec 2021 and Jan 2022 using DA calculation formula.
All India Average Consumer Price Index for Industrial Workers (Base 2016=100) for month of Jul 2021 increased to 122.8 by 1.10 points.
AICPI Number (Base 2016=100) for Jul 2021 – 122.8 (published)
Suppose, AICPI Number (Base 2016=100) for Aug and Sep 2021 remain same – 122.8
|Expected DA Increase for Bank Employees for Nov 2021, Dec 2021 and Jan 2022|
|Month of AICPIN-IW||AICPIN-IW (New Base 2016=100)||AICPIN-IW (Old Base 2001=100)||AICPI Calculation||Average of the Quarter||DA Slabs Calculation (Average – 6352)/4||Final DA percentage (0.07% of slab)|
Expected DA Increase Calculation for Bankers Nov 2021
AICPIN (Base 2001=100) for July 2021 – 122.8×2.88 = 353.66
AICPIN (Base 2001=100) for Aug 2021 – 122.8×2.88 = 353.66
AICPIN (Base 2001=100) for Sep 2021 – 122.8×2.88 = 353.66
Now multiply by conversion factor (4.63×4.93) to get DA Slabs and rate for bank employees
CPI for July 2021 – (353.66×4.63×4.93) = 8072.70
CPI for Aug 2021 – (353.66×4.63×4.93) = 8072.70
CPI for Sep 2021 – (353.66×4.63×4.93) = 8072.70
Average CPI Number = [(8072.70+8072.70+8072.70)/3] = 8072.70
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As per 11th BPS, 6352 points of DA was merged with the pay and payable DA rate was fixed at 0.07 percent per DA slab.
So, number of final DA slabs = [(8072.70-6352)/4] = 430 slabs (30.10 percent)
DA slabs for Quarter ended June 2021 = 397 slabs (27.79 percent)
Increase in DA Slabs = 430-397 = 33 slabs (2.31 percent)
Expected DA percentage for Nov 2021, Dec 2021 and Jan 2022 will be 30.10
Expected DA percentage rate increase = 2.31 percent
Note : Final DA slabs increase for month of Nov 2021, Dec 2021 and Jan 2022 for bank staff employees will be published here on release of confirmed AICPI-IW numbers for month of Aug 2021 and Sep 2021.