Expected DA slabs increase for Bank Employees (Clerk, Officers, Bank staff) for month of February 2020, March 2020 and April 2020 – We continuously update you here about expected DA slabs increase for bank staff (Clerk, Officers, Workmen). Dearness allowance (DA) is revised every quarter based on consumer price index (CPI) data published by Labor Bureau.
DA increase for Bank Employees for month of February, March, April 2020
In this post, we will try to predict the dearness allowance (DA) increase for month of February, March and April 2020 for bank staff through DA calculation formula. Consumer Price Index (CPI) Index Numbers for industrial workers (Base 1960=100) data for month of October 2019 and November 2019 has already been published by Labour Bureau which is as follows :
October 2019 – 325 (published)
November 2019 – 328 (published)
December 2019 – 328 (Suppose, CPI for month of December 2019 remains same as of November 2019)
Calculation of Dearness Allowance for Bank Employees
Now applying DA calculating formula,
Multiply CPI numbers by conversion factor (4.63 x 4.93),
- CPI for October 2019 = (325×4.63×4.93) = 7418.41
- CPI for November 2019 = (328×4.63×4.93) = 7486.89
- CPI for December 2019 = (328×4.63×4.93) = 7486.89
- Average CPI = (7418.41+7486.89+7486.89)/3 = 7464.06
- Deducting 4440 slabs which are merged in basic pay as per 10th bipartite settlement = (7464.06-4440) = 3024.06
- Divide 3024.06 by 4 to calculate DA slabs for quarter = (3024.06/4) = 756.01 or 756 (rounding off) on which 0.10 percent DA is payable.
So DA slabs percentage for February 2020, March 2020 and April 2020 will be 75.6 percent.
Expected Increase in DA Slabs = 756-717 = 39 slabs
So expected DA increase for month of February 2020, March 2020 and April 2020 will be 3.9 percent.
Note : Final DA Slabs increase for February 2020 for bank employees will be published here on release of CPI data for month of December 2019. Subscribe here by Email for Quick Update on Same.