7th Pay Commission: Big Diwali gift for SAIL officers, 5 Percent DA hike likely from October
This Navratna company Steel Authority of India (SAIL) top management has recommended 5 per cent Dearness Allowance (DA) hike for its officer’s grade employees. The public sector undertaking has written to Santosh Gangwar, Minister for Labour and Employment in this regard. If the SAIL management recommendation in regard to the DA hike is accepted, then each officer’s grade SAIL employees will get Rs 5,000 monthly salary hike. According to our sources, the SAIL has recommended a hike in its officer’s grade DA from October 1st.
If the Central Government accepts SAIL management recommendations, the DA of SAIL officers would go up from 57.4 per cent to 62.4 per cent. Like any other public sector banks, PSU employees DA also increased quarterly means after every three months. SAIL being a PSU, not an exception to it and its employees are entitled to a DA hike on a quarterly basis. Generally, the DA is increased keeping the Consumer Price Index (CPI) in mind as DA is a hedge against the rise in inflation.
If the Labour and Employment Ministry accepts the SAIL recommendations in regard to the DA hike for its officers grade employees, there would be a monthly salary increase of Rs 5,000 to the SAIL officers. In the last quarter, DA for SAIL officers was increased by 5.3 per cent. If we include both officers and lower-grade employees, there are around 1,00,000 employees working at SAIL.