On Friday, the government of India decalred that along with the pay hike, there is also an increase in the children education allowance, which every individual employees children are eligible to receive. This is apart from the 21 percent rise in the salary of the government emplyees.
The increased New Revised Education Allowance Policy will come into effect from next month’s pay though the report is to be implemented with retrospective effect from January 1, 2006.
The arrears would be given in cash – 40 per cent this financial year and 60 per cent in the next fiscal.
Reimbursement of Education Allowance (Sixth Pay Commission Recommendation)
According to the notification, children education allowance will be reimbursed up to maximum Rs.1,000 per child per month subject to a maximum of two children from the present Rs. 50 per child.
Hostel subsidy Education Allowance (Sixth Pay Commission Recommendation)
Besides, hostel subsidy has been raised to the maximum limit of Rs. 3,000 per month per child from Rs. 300 currently.
Also, these reimbursements would be automatically raised by 25 per cent once dearness allowance on the revised pay bands become 50 per cent of the basic salary, the notification said.
As such, an employee getting Rs. 1,000 would get Rs. 1,250 per child per month and hostel subsidy would increase up to Rs. 3,750 when Dearness Allowance becomes 50 per cent of the basic salary.
Please refer to these other links for online salary calculators:
Salary Calculator for Pay band 1 and 2 for Sixth Pay Commission Salary Hike
Salary Calculator for Pay band 3 and above for Sixth Pay Commission Salary Hike
Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike
State Wise Salary Hike details are covered in the links of the article: State Wise Salary Hike Details of Sixth Pay Commission. Please refer to the article and click on your respective state wise link for news and other information.
Link To: Revised Pay Scales, New Pay Bands Finalized by the Government
Links To: Sixth Pay Commission: Perks, Arrears, Increments & Key Points
No comments:
Post a Comment