Punjab announces 7 pc dearness allowance enhancement
The Punjab Government today announced Diwali bonanza by enhancing the rate of Dearness Allowance (DA) payable to the state government employees/pensioners from 65 per cent to 72 per cent of the revised basic pay with effect from July 1, 2012.
Stating this here, Finance Minister Parminder Singh Dhindsa said that the enhanced DA due to be given to the employees from July 1, 2012 to October 31, 2012 had been given in two ways.
He said that the enhanced DA for July and August months would be deposited in to the General Provident Fund (GPF) account of employees, whereas the arrear of the DA calculating from September 1 to October 31 would be given in cash.
He said that from November 1 onwards, enhanced dearness allowance would be merged in the salaries to be given to the employees.
Mr Dhindsa said that the dearness allowance had been increased on the pattern of central government and added that seven per cent DA increase would put an additional liability of Rs 351.63 crore on the state exchequer.
The Minister said that in case of such employees, who have been appointed on or after January 1, 2004, enhanced dearness allowance due for the period from July 1 to August 31 would be paid in the shape of National Saving Certificates/Kisan Vikas Patras.
He said that in case of pensioners, the entire amount on account of enhanced dearness allowance would be paid in cash with effect from July 1, 2012.