Dear all,
Let me start a new thread regarding the above subject. In this thread, I intend to post the projected figure of Industrial DA which will be effective from the next quarter onwards, viz. 1st January - 31st March, 1st April - 30th June, 1st July - 30th September, and 1st October - 31st December.
As you know, the Industrial DA from 1.10.2010 onwards is 39.8% for the 1.1.2007 scale and 136.1% for the 1.1.1997 scale. Now, the projected figure from 1.1.2011 onwards is 41.7% (Difference 1.9%) for the 1.1.2007 scale and 139.3% (Difference 3.2%) for the 1.1.1997 scale.
Note: This is based on the AICPI up to 30.9.2010. The results of two more months, viz. Oct & Nov 2010, have to come for the final figure.
Abbas.P.S, ITI LTD, PALAKKAD - 678 623
Ph. +91 9447 467 667.
From India, Bangalore
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530Let me start a new thread regarding the above subject. In this thread, I intend to post the projected figure of Industrial DA which will be effective from the next quarter onwards, viz. 1st January - 31st March, 1st April - 30th June, 1st July - 30th September, and 1st October - 31st December.
As you know, the Industrial DA from 1.10.2010 onwards is 39.8% for the 1.1.2007 scale and 136.1% for the 1.1.1997 scale. Now, the projected figure from 1.1.2011 onwards is 41.7% (Difference 1.9%) for the 1.1.2007 scale and 139.3% (Difference 3.2%) for the 1.1.1997 scale.
Note: This is based on the AICPI up to 30.9.2010. The results of two more months, viz. Oct & Nov 2010, have to come for the final figure.
Abbas.P.S, ITI LTD, PALAKKAD - 678 623
Ph. +91 9447 467 667.
From India, Bangalore
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As you know, the Industrial DA from 1.10.2010 onwards is 39.8% for the 1.1.2007 scale and 136.1% for the 1.1.1997 scale.
Now, the projected figure from 1.1.2011 onwards is 42.7% (Difference of 2.9%) for the 1.1.2007 scale and 141% (Difference of 4.9%) for the 1.1.1997 scale.
Note: This is based on the AICPI up to 31.10.2010. The result of one more month, namely Nov 2010, has to come for the final figure.
Abbas.P.S
From India, Bangalore
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Now, the projected figure from 1.1.2011 onwards is 42.7% (Difference of 2.9%) for the 1.1.2007 scale and 141% (Difference of 4.9%) for the 1.1.1997 scale.
Note: This is based on the AICPI up to 31.10.2010. The result of one more month, namely Nov 2010, has to come for the final figure.
Abbas.P.S
From India, Bangalore
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Considering the living cost and all, wage revision is being done once in five years or ten years. But inflation will go up day by day, and subsequently, the money value will come down. To compensate for this, we have to wait until the next wage revision, which is not practical. That is why the DA is introduced.
The devaluation of money can be assessed through the Wholesale Price Index, All India Consumer Price Index, etc. The difference between these two is that the price variation of all commodities is taken into account for the Wholesale Price Index.
But for AICPI, there are some differences/limitations:
1. There is a particular consumer, viz. Industrial Worker.
2. Some specified goods & services are defined, called a "basket of goods."
3. Along with the price variation of commodities, its consumable quantity will also be considered.
4. All over India, 78 centers are selected to take the average.
Based on All India Consumer Price, Industrial DA is being paid; variable in quarters commencing from January, April, July, & October. For January, the AICPI will be the average of the previous September, October, & November. Similarly, for April, it will be December, January, & February; for July, it will be March, April, & May, and for October, it will be June, July, & August, respectively.
When the money devaluation is fully compensated, it is called full DA neutralization. The formula for full DA neutralization = (Total points - Base points)/ Base points (in percentage). The AICPI was introduced in India in 1960 and revised in 1982 & 2001. AICPI of 2001 x 4.63 gives AICPI of 1982, and AICPI of 1982 x 4.93 gives AICPI of 1960. For DA calculation, AICPI of 1960 is accepted as the base.
The indexes can be accessed from the web: Labour Statistics Page 2
Now in India, mainly two terms wage settlements are in existence; Wage Settlements of 1.1.1997 & 1.1.2007. The base point on 1.1.1997 is 1708, and on 1.1.2007 is 2884.
I shall quote one example, i.e. the calculation of AICPI for July '10. This is equivalent to the average of the previous March, April, & May; which is recorded as 170, 170, & 172 (Base year 2001). Multiply by 4.63 and round, we get 787, 787, & 796 (Base year 1982). Multiply by 4.93 and round, we get 3880, 3880, & 3924 (Base year 1960). Find the average of these 3 and round, we get 3895.
DA for 1.1.97 scale. Total points - 3895, Base points - 1708, Total - Base = 2187. % is 2187/1708 x 100 = 128.0 (Correct to one decimal).
DA for 1.1.2007 scale. Total points - 3895, Base points - 2884, Total - Base = 1011. % is 1011/2884 x 100 = 35.1 (Correct to one decimal).
I shall insert Excel sheet for IDA calculation w.e.f 1.10.2008. You may extend the rows further (as necessary) and just enter the 3 indexes towards the year 2001 in green color columns. The results will appear in yellow, and red is used for static information.
Abbas P.S.
From India, Bangalore
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The devaluation of money can be assessed through the Wholesale Price Index, All India Consumer Price Index, etc. The difference between these two is that the price variation of all commodities is taken into account for the Wholesale Price Index.
But for AICPI, there are some differences/limitations:
1. There is a particular consumer, viz. Industrial Worker.
2. Some specified goods & services are defined, called a "basket of goods."
3. Along with the price variation of commodities, its consumable quantity will also be considered.
4. All over India, 78 centers are selected to take the average.
Based on All India Consumer Price, Industrial DA is being paid; variable in quarters commencing from January, April, July, & October. For January, the AICPI will be the average of the previous September, October, & November. Similarly, for April, it will be December, January, & February; for July, it will be March, April, & May, and for October, it will be June, July, & August, respectively.
When the money devaluation is fully compensated, it is called full DA neutralization. The formula for full DA neutralization = (Total points - Base points)/ Base points (in percentage). The AICPI was introduced in India in 1960 and revised in 1982 & 2001. AICPI of 2001 x 4.63 gives AICPI of 1982, and AICPI of 1982 x 4.93 gives AICPI of 1960. For DA calculation, AICPI of 1960 is accepted as the base.
The indexes can be accessed from the web: Labour Statistics Page 2
Now in India, mainly two terms wage settlements are in existence; Wage Settlements of 1.1.1997 & 1.1.2007. The base point on 1.1.1997 is 1708, and on 1.1.2007 is 2884.
I shall quote one example, i.e. the calculation of AICPI for July '10. This is equivalent to the average of the previous March, April, & May; which is recorded as 170, 170, & 172 (Base year 2001). Multiply by 4.63 and round, we get 787, 787, & 796 (Base year 1982). Multiply by 4.93 and round, we get 3880, 3880, & 3924 (Base year 1960). Find the average of these 3 and round, we get 3895.
DA for 1.1.97 scale. Total points - 3895, Base points - 1708, Total - Base = 2187. % is 2187/1708 x 100 = 128.0 (Correct to one decimal).
DA for 1.1.2007 scale. Total points - 3895, Base points - 2884, Total - Base = 1011. % is 1011/2884 x 100 = 35.1 (Correct to one decimal).
I shall insert Excel sheet for IDA calculation w.e.f 1.10.2008. You may extend the rows further (as necessary) and just enter the 3 indexes towards the year 2001 in green color columns. The results will appear in yellow, and red is used for static information.
Abbas P.S.
From India, Bangalore
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Dear all friends in citeHR,
Wishing you a happy and prosperous New Year 2011. As you know, the Industrial DA from 1.10.2010 onwards is 39.8% for the 1.1.2007 scale and 136.1% for the 1.1.1997 scale. From 1.1.2011 onwards, it is enhanced to 43% (a difference of 3.2%) for the 1.1.2007 scale and 141.5% (a difference of 5.4%) for the 1.1.1997 scale.
Abbas.P.S
From India, Bangalore
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Wishing you a happy and prosperous New Year 2011. As you know, the Industrial DA from 1.10.2010 onwards is 39.8% for the 1.1.2007 scale and 136.1% for the 1.1.1997 scale. From 1.1.2011 onwards, it is enhanced to 43% (a difference of 3.2%) for the 1.1.2007 scale and 141.5% (a difference of 5.4%) for the 1.1.1997 scale.
Abbas.P.S
From India, Bangalore
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As you know, the Industrial DA from 01.01.2011 onwards is 43% for the 1.1.2007 scale and 141.5% for the 1.1.1997 scale.
Now, the projected figure from 01.04.2011 onwards is 46.5% (Difference of 3.5%) for the 1.1.2007 scale and 147.4% (Difference of 5.9%) for the 1.1.1997 scale.
Note: This is based on the AICPI up to 31.12.2010, published on 31.01.2011. The results of two more months, namely Jan & Feb 2011, have to come in for the final figure.
Abbas.P.S
From India, Bangalore
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Now, the projected figure from 01.04.2011 onwards is 46.5% (Difference of 3.5%) for the 1.1.2007 scale and 147.4% (Difference of 5.9%) for the 1.1.1997 scale.
Note: This is based on the AICPI up to 31.12.2010, published on 31.01.2011. The results of two more months, namely Jan & Feb 2011, have to come in for the final figure.
Abbas.P.S
From India, Bangalore
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As you know, the Industrial DA from 01.01.2011 onwards is 43% for the 1.1.2007 scale and 141.5% for the 1.1.1997 scale.
Now, the projected figure from 01.04.2011 onwards is 48% (a difference of 5%) for the 1.1.2007 scale and 149.9% (a difference of 8.4%) for the 1.1.1997 scale.
Note: This is based on the AICPI up to 31.01.2011, published on 28.02.2011. The result of one more month, viz. Feb 2011, has to come for the final figure.
Abbas.P.S
From India, Bangalore
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Now, the projected figure from 01.04.2011 onwards is 48% (a difference of 5%) for the 1.1.2007 scale and 149.9% (a difference of 8.4%) for the 1.1.1997 scale.
Note: This is based on the AICPI up to 31.01.2011, published on 28.02.2011. The result of one more month, viz. Feb 2011, has to come for the final figure.
Abbas.P.S
From India, Bangalore
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Dear Abbasiti,
Can you please explain the two scales you have mentioned above? Is it applicable to every cadre, and is this percentage calculated based on the basic or gross salary?
Kindly help me understand the process.
Regards,
Neha
From India, Surat
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Can you please explain the two scales you have mentioned above? Is it applicable to every cadre, and is this percentage calculated based on the basic or gross salary?
Kindly help me understand the process.
Regards,
Neha
From India, Surat
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The Industrial DA mentioned above is applicable to Central Public Sectors (Government of India Undertakings). I don't know which other organizations follow the same pattern.
In most of the PSUs, wage revision took place effective 01.01.2007. However, there are still many PSUs where the above wage revision is due but pending; accordingly, they follow the 01.01.1997 scales.
Abbas.P.S
From India, Bangalore
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In most of the PSUs, wage revision took place effective 01.01.2007. However, there are still many PSUs where the above wage revision is due but pending; accordingly, they follow the 01.01.1997 scales.
Abbas.P.S
From India, Bangalore
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Dear HR Team,
I have reviewed the text you provided and made the necessary corrections for spelling, grammar, and punctuation errors:
"On 1st January 2007, the scale from April 2011 is 47.2% (a hike of 4.2% as of 1st January 2011) and for the scale from 1st January 1997, it is 148.6% (with a hike of 7.1%) for CPSE based on the data already provided by labor statistics.
Thank you.
BC Sahoo Asst. Manager NALCO 9237525225"
I have also ensured proper paragraph formatting for better readability. If you have any further questions or need additional assistance, please feel free to reach out.
Best regards,
[Your Name]
From India, Jamshedpur
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I have reviewed the text you provided and made the necessary corrections for spelling, grammar, and punctuation errors:
"On 1st January 2007, the scale from April 2011 is 47.2% (a hike of 4.2% as of 1st January 2011) and for the scale from 1st January 1997, it is 148.6% (with a hike of 7.1%) for CPSE based on the data already provided by labor statistics.
Thank you.
BC Sahoo Asst. Manager NALCO 9237525225"
I have also ensured proper paragraph formatting for better readability. If you have any further questions or need additional assistance, please feel free to reach out.
Best regards,
[Your Name]
From India, Jamshedpur
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