7th Pay Commission Latest Update: In what could be a big bonanza for the employees ahead of Diwali, the Steel Authority of India Limited (SAIL) has decided to shower a hike in Dearness Allowance (DA) on its officers as well as lower grade employees.
If reports are anything to go by, the management of the Navratna company has recommended to increase DA by a whopping 5 per cent for officer grade employees which might be effective from October 1, 2019. The lower grade employees, on the other hand, have been recommended a DA hike of 3.2 percent, reported Zee Business.
Sources said that the company has sent its recommendations in a letter to Santosh Gangwar, Minister of Labour and Employment for an approval of the DA hike from October.
SAIL being a PSU, its employees are entitled to a quarterly DA hike keeping in view the Consumer Price Index (CPI).
If the Ministry approves this hike, the DA of SAIL officers would go up from 57.4 to 62.4 per cent, which means there will be a rise in their monthly salary by around Rs 5000. On the other hand, the salary of the lower grade employees is likely to increase between Rs 500 to Rs 1800 per month.
It is pertinent to mention that in the last quarter, the DA for the lower grade employees of SAIL was hiked by 3.4 per cent while for the officers, DA hike granted was 5.3 per cent, added reports.
Well, close to 100000 employees of SAIL are now eagerly awaiting approval of the latest DA hike recommendations.