Expected DA slabs increase for Bank Employees (Clerk, Officers, Bank staff) for month of May 2020, June 2020 and July 2020 – We continuously update you here about expected DA slabs increase for bank staff / employees (Clerk, Officers, Workmen). Dearness allowance (DA) is revised every quarter based on consumer price index AICPI (IW) data published by Labor Bureau.
DA increase for Bank Employees for month of May, June, July 2020
In this post, we will try to predict the dearness allowance (DA) increase for month of May, June and July 2020 for bank staff through DA calculation formula. Consumer Price Index (CPI) Index Numbers for industrial workers (Base 2001=100) data for month of January 2020 and February 2020 has already been published by Labour Bureau which is as follows :
January 2020 – 330 (published)
February 2020 – 328 (published)
March 2020 – 326 (Suppose, CPI for month of March 2020 decreases by 2 points)
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 January 2020 = (330×4.63×4.93) = 7532.54
- CPI for February 2020 = (328×4.63×4.93) = 7486.89
- CPI for March 2020 = (326×4.63×4.93) = 7441.24
- Average CPI = (7532.54+7486.89+7441.24)/3 = 7486.89
- Deducting 4440 slabs which are merged in basic pay as per 10th bipartite settlement = (7486.89-4440) = 3046.89
- Divide 3062.10 by 4 to calculate DA slabs for quarter = (3046.89/4) = 761.72 or 761 (rounding off) on which 0.10 percent DA is payable.
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So DA slabs percentage for May, June, July 2020 will be 76.10 percent.
Expected Increase in DA Slabs => 761-759 = 2 slabs
So expected % DA increase for month of May 2020, June 2020 and July 2020 will be 0.20 percent.
Note : Final DA Slabs increase for Month of May, June, July 2020 for bank employees will be published here on exact release of CPI data for month of March 2020. Subscribe here by Email for Quick Update on Same.
UPDATE – Latest DA Increase Chart for Bank Staff from May 2020
Here is the latest DA chart for bank clerk,sub-staff, officers, pensioners, special pay and professional qualification pay.
DA Slabs/ Percentage Increase from May 2020
Latest Dearness Allowance rate @0.10 percent payable on 761 slabs for all cadre/stages – 76.10%
|CPI Month||2001||1960||Consumer Price Index||D.A Slabs|
|January 2020||330||7532.55||Avg Points||7486.90||New Slabs||761|
|February 2020||328||7486.90||Last Avg||7476.00||Old Slabs||759|
DA Increase Chart/Table for Bank Staff / Employees / Pensioners May 2020
DA Increase Chart for Bank Clerk and Sub-Staff
DA Increase for Special Pay and Professional Qualification Pay (PQP)
DA Rate for Pensioners – No Change
DA increase chart for officers up to Scale III
DA increase chart for officers up to Scale IV-VII