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Thursday, 15 July 2021

28% D. A. CALCULATOR FOR GOVERNMENT EMPLOYEES.

28% D. A. CALCULATOR FOR GOVERNMENT EMPLOYEES

New Delhi 7th Pay Commission. The central government has given very good news to millions of central employees of the country. The government has increased the Dearness Allowance (DA) of employees.


 
This decision of the government will benefit about 50 lakh central employees and 61 lakh pensioners. Although it has not been officially confirmed, media reports have claimed that employees will start receiving salaries from January onwards with increased DA.

 
7th pay :- From 1st July 2021, DA of central employees will be 28% ! Find out how much the salary will increase ? The Central Government has announced DA approval for 52 lakh employees of the country.

 
The steps taken by the Government will increase the salaries of Central employees in the country. According to the data release, between January and June 2021, at least DA could grow by 4%. Once the DA is approved, the DA of central employees may increase from 17% to 28%, including a 3% increase in DA from January to June 2020, a 4% increase from July to December 2020 and a 4% increase from January to June 2021.


7th Pay Salary Increment Calculator

Annual Increment Rules: The increment in respect of an employee appointed or promoted or granted financial upgradation including upgradation under Modified Assured Career Progression Scheme (MACPS) during the period between the 2nd day of January and 1st day of July (both inclusive) shall be granted on 1st day of January and the increment in respect of an employee appointed or promoted or granted financial upgradation including upgradation under MACPS during the period between the 2nd day of July and 1st day of January (both inclusive) shall be granted on 1st day of July.

Annual Increment Calculation Method Prescribed by 7th Central Pay Commission in Salary Slab as follows…

Illustration: An employee in the Basic Pay of 32300 in Level 4 will move vertically down the same Level in the cells and on grant of increment, his basic pay will be 33300.





Following are the strp to calcluate the indian salary

1. Calculate Gross Salary:
First Calculate the Gross salary. Gross Salary is calculated by subtracting the Employer's contribution Provident Fund contribution(EPF) and Gratuity from Cost to Company(CTC).

Gross Salary = Cost to Company(CTC) - Employer's PF Contribution(EPF) - Gratuity.

2. Calculate Taxable Income: Taxable income is calculated by subtracting Conveyance Allowance, House Rent Allowance(HRA), Leave Travel Allowance(LTA) Professional Tax, Medical Bills, Medical Insurance, Tax Saving Investments .

Taxable Income = Gross Salary - Employee's PF Contribution(PF) - Conveyance Allowance - HRA - LTA - Medical Bills - Medical Insurance - Tax. Saving Investments - Other Deductions.

3. Calculate Income Tax: Calculate Income Tax based on income Tax Slabs and rates. 

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