The average index number for October 2019 2019 to December 2019 works out to 7479. Therefore Bank Pensioners would get 78 slabs to increase as dearness relief for the half-year February 2020 to July 2020. The following chart shows the rate of dearness relief applicable to bank pensioners who have retired on various dates.
No of slabs | Rate per Slab @ | Percentage of DR payable | DR on Basic Pension (Before commutation) |
759 | 0.10 | 75.90% | Basic Pension × 75.90% |
No of slabs | Rate per Slab | Percentage of DR payable | DR on Basic Pension (Before commutation) |
1162 | 0.15 | 174.30% | Basic Pension× 174.30 % |
No of slabs | Rate per Slab | Percentage of DR payable | DR on Basic Pension (Before commutation) |
1297 | 0.18 | 233.46% | Basic Pension× 233.46 % |
Average index 7479-1685 points (1448 Slabs)
Basic pension up to 3550= 1448x24 %=( 347.52%), 3551 to 5650= 1448x 20 %=( 289.60%),
5651 to 6010= 1448 x 12 %=( 173.76 % of basic pension),
6011 and above 1448×6 %=( 86.88 % of basic pension)
Basic pension (before commutation) | DR amount |
Up to basic pension 3550 | Basic Pension×347.52 % i.e. DR on basic pension for 3550= 12336.96 |
Basic pension from 3551 to 5650 (2100) | 12336.96 + for the basic pension in excess of @289.60 % i.e. DR on basic pension for 5650= 12336.96+6081.60=18418.56 |
Basic pension from 5651 to 6010 (360) | 18418.56 +for basic pension in excess of 5650 up to 6010 @ 173.76% i.e. DR on basic pension for 6010=18418.56+625.53=19044.09 |
Basic pension 6011 and above | 19044.09 + for the basic pension in excess of 6010 @ 86.88% |
DA on basic pension up to 2400= 1582×35 %=( 553.70% × basic pension)
+ From 2401 to Rs.3850 @ 1582×29% = (458.78 % × basic pension)
+ From 3851 to 4100 @ 1582×17%= (217.26% × basic pension)
+ above 4100 @ 1278×9% = 115.02% × basic pension]
Retired on or after 1.11.92/1.7.93 up to 31.3.98 Average index 7479-1148=6301/4= 1575 slabs
Basic pension (before commutation) | DR Amount |
Up to basic pension 2400 | basic pension×553.70 i.e. DR for 2400 basic = 13288.80 |
Basic pension from 2401 to 3850 (1450) | + 1582×29%=458.78% i.e. DR for 3850 basic 13288.80 =13288.80+6652.31=19941.10 |
Basic pension from 3851 to 4100 (250) | 1582×17%=268.94% DR for 4100 basic= 19941.10+672.35=20613.45 |
Basic pension 4101 and above | 1582×9%= 142.38% i.e. = 20613.45+142.38% on basic pension above 4101 |
Average index number 7479 (1719 slabs) 600 points merger 7479-600= 6879/4=1719 slabs
Basic pension | DR amount on 1638 slabs |
Basic pension up to 1250 | Basic pension×1151.73%,i.e. DR for basic pension 1250=14396.62 |
Basic pension from 1251 to 2000 (750) | 14396.62+ (Basic Pension × 945.45%), i.e. DR for basic pension 2000=14396.62+7090.87=21487.49 |
Basic pension from 2001 to 2130 (130) | 21487.49+Basic Pension×540.54%, i.e. DR for basic pension 2130=21487.49+567.27=22054.76 |
Basic pension from 2131 above | Rs.22054.76+ for the basic pension in excess of Rs.2130 @ 292.23% |
The errors in accounting take place due to wrong posting of transactions, wrong totaling or…
“Under the explanation to Section 25 of the Negotiable Instruments Act, 1881 (Central Act 26…
When the trial balance does not tally due to the one-sided errors in the books,…
Errors in Trial Balance are mistakes made during the accounting process that cannot always be…
“Under the explanation to Section 25 of the Negotiable Instruments Act, 1881 (Central Act 26…
The Reserve Bank of India is expanding reporting requirements for foreign exchange transactions. Starting February…