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DA Hike News: Before Diwali, the employees of four general insurance companies of the government sector have been given a big gift by the Modi government. The government has announced an increase of 12% in the salary of the employees and officers of these insurance companies. The Finance Ministry has also issued a notification on this matter. Explain that after this decision of the government, an additional burden of Rs 8,000 crore will increase on the financial fund. Let us tell you that the arrears to the employees will depend on the performance of their company. The retired employees and officers will also get the benefit of this DA.
Union organizations disappointed with the terms of the government
Let us tell you that the General Insurance Employees All India Association (GIEAIA) is not happy with the fact that the amount of arrears is linked to the performance of the company. The union says that the government has announced an increase in the salary of the employees after a long wait of 64 months, but has put a condition of performance with it. It is illogical to link the salary with the performance of the company as the employees work continuously to take forward the schemes of the government.
What did the Finance Ministry say in its notification?
While issuing a notification, the Union Ministry of Finance has informed that four companies of the government in the general insurance sector are United India Insurance Company Limited, The Oriental Insurance Company Limited, New India Assurance Company Limited and National Insurance Company Limited. Officers and employees will get the benefit of 12% DA increase. This DM hike will come into effect from August 1, 2017. In such a situation, the employees will get arrears of 5 years. The arrears will be based on the performance of the company. It has also been told in this notification that the employees who have retired after 2017 will also get the benefit of arrears.
Pay revision happens every five years
It is worth noting that the employees and officers of public sector banks and insurance companies get wage revision every five years. This year’s wage revision of employees of general insurance companies has been delayed by 5 years. At the same time, his next wage revision has been due since August 2022. In such a situation, after this decision, lakhs of employees Diwali The gift has been received.
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