Expected DA slabs increase for Bank Employees – for month of May, June, July 2018 after announcement of Consumer Price Index for month of February 2018. We continuously update you here about expected DA slabs increase for bank employees / workmen. Dearness allowance is revised every quarter on the basis of consumer price index (CPI) data published by Labour Bureau. DA predictions by All Banking Alerts for month of November, December, January was right i.e, 51.60.
Now in this article, we will try to predict the Dearness allowance increase for month of May, June, July 2018 for bank employees through DA calculation formula. CPI data for months of January and February 2018 is already published on official website of Labour Bureau.
Expected DA Slabs increase for Bank Employees for May, June, July 2018
Consumer Price Index (CPI) is announced by Labour Bureau for month of February 2018 which is 287 (decreased by 1 point from January CPI which was 288).
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Expecting CPI data to increase by 1 point for month of march 2018 i.e, 288, what will be the expected DA increase – here is the calculation.
Consumer Price Index (CPI) Numbers for January 2018 – 288 (published)
Consumer Price Index (CPI) Numbers for February 2018 – 287 (published)
Consumer Price Index (CPI) Numbers for March 2018 – 288 (expected)
Multiply it by conversion factor (4.63 x 4.93),
- CPI for Jan 2018 = (288×4.63×4.93) = 6573.85
- CPI for Feb 2018 = (287×4.63×4.93) = 6551.03
- CPI for March 2018 = (288×4.63×4.93) = 6573.85
- Average CPI = (6573.85+6551.03+6573.85)/3 = 6566.24
- Deducting 4440 slabs which are merged in basic pay as per 10th bipartite settlement = (6566.24-4440) = 2126.24
- Divide 2126.24 by 4 to calculated DA slabs for quarter = (2126.24/4) = 531.56 or 532 (rounding off) on which 0.10 percent DA is payable.
So DA slabs percentage for May 2018, June 2018 and July 2018 will be 53.20 percent.
Expected Increase in DA Slabs = 532-527 = 5 slabs
So expected DA increase for month of May, June and July 2018 will be 0.50 percent.
Note : Final DA Slabs increase for may 2018 for bank employees will be published here on release of CPI data for month of March 2018.