7th Pay Commission Latest News: Dearness Allowance, HRA, Travel Allowance of Central Govt Employees Likely to Change From April | Details Here


7th Pay Commission Latest News Today: The Central government is planning to implement New Wage Code Bill from April 1 this year. According to a report on Zee Business, if the New Wage Code Bill is implemented, then the minimum basic salary of a government employee will become at least 50 per cent of the net CTC. Hence, the New Wage Code Bill will largely impact one government employee’s allowances like Dearness Allowance (DA), Travel Allowance (TA), House Rent Allowance (HRA). Also Read – India Post Recruitment 2021: Last Date to Apply For This Vacancy Ends Today | Check Age Limit, Salary Details Here

Giving more details on how the New Wage Code Bill will change the monthly allowances like DA, TA, HRA of the government employees, SEBI registered tax and investment expert Jitendra Solanki told Zee Business that the New Wage Code Bill caps the allowance head at 50 per cent of the net monthly CTC, which means one’s monthly allowance can’t be more than 50 per cent of its net CTC. Also Read – 7th Pay Commission Latest News Today: Centre Announces Massive Rs 80,000 Hike in THIS Ceiling – Deets Inside

Will it also affect the Provident Fund (PF) and Gratuity? Giving details, Kartik Jhaveri, Director — Wealth Management at Transcend Consultants said that once the New Wage Code Bill gets implemented, one’s monthly PF and Gratuity will get changed too as the monthly PF and Gratuity contribution is calculated on monthly basic plus DA. Once the DA and basic salary will change, one’s PF and Gratuity contribution will automatically change after the New Wage Act 2021 implementation. Also Read – 7th Pay Commission Latest News And Update: Supreme Court’s Big Relief For Central Govt Employees, Pensioners | Read on


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