7th Pay Commission: After increasing the Variable Dearness Allowance (DA), the government has given a big gift to the employees of 4 General Insurance Company on the occasion of Diwali.
New Delhi: 7th Pay Commission: Today there is a big news for the employees coming inside the Central Government. The government is going to give the benefit of increased salary to the central employees before Diwali.
After increasing the Variable Dearness Allowance (DA), the government has given a big gift to the employees of 4 General Insurance Company on the occasion of Diwali. The government has decided to increase the salary of employees and officers working in these companies.
How much will the salary increase
After increasing the variable dearness allowance, the government has decided to increase the salary of employees and officers working in 4 general insurance by 12 percent. They will get the increased salary from August 2017.
The Union Finance Ministry has issued a notification regarding this. It is said that this decision of the government will increase the burden of Rs 8,000 crore on these companies. Along with this, those people who have retired will also get the benefit of this increase.
Will get 5 years arrears
According to the issued notification, the arrears of 5 years will be paid to the officers and employees. Accordingly, the next revised salary payable from August 2022 will be in the form of a variable pay based on the performance of the company and the employee.
Which are government general insurance company
The names of four companies are included in these four government general insurance sectors. These companies include New India Insurance Company Limited, United India Insurance Company Limited, The Oriental Insurance Company Limited, and National Insurance Company Limited.
