PSU IDA Rates from 01.07.2021, Check IDA Calculation Formula

Discover PSU IDA charges of Industrial Dearness Allowance older and anticipated from 01.07.2021 relevant to workers and pensioners working 2nd / third PRC of PSUs beneath Authorities of India, verify IDA calculation system based mostly on value index quantity. ..

The IDA or Industrial Dearness Allowance is a kind of allowance granted to workers of public sector enterprises (PSEs) beneath the Authorities of India in addition to pensioners based on the value index quantity declared by the Labor Bureau.

Nonetheless, IDA is just not a obligatory allowance in relation to non-public sector workers, and because of this non-public sector firms should not compelled to offer such allowance to their workers.

As well as, IDA charges are revised fairly incessantly because of the fee of inflation on a quarterly foundation to scale back the burden of inflation, the place as well as, the federal government has provide you with extra advantages in addition to varied allowance schemes for workers.

Staff might due to this fact face the scenario, one of many most important causes for the speedy rise in CPI is because of frequent modifications in IDA charges, furthermore, you must know that the revised industrial dearness allowance charges based mostly on the final 3 months AICPIN or All India Client Worth Index Quantity.

Verify PSU IDA charges for third PRC worker from 01.07.2021

PSU IDA fee desk for different PRC workers

From	Service	Industrial dearness allowance fee (IDA)	% IDA enhance
01.07.21	30.09.2021	173.6 (anticipated)	3.1% anticipated)
01.04.2021	30.06.2021	160.5	-1
01.01.2021	31.03.2021	181.5%	6.1%
01.10.2020	31.12.2020	185.4	5.5%
01.07.2020	30.09.2020	15.97	-0.8%
01.04.2020	31 July 2020	170.4	3.4%
01.01.2020	31.03.2020	153.3	5.3
01.10.2019	31.12.2019	152	5.3
1.7.2019	30.09.2019	146.7	5.3
1.4.2019	30.7.2019	141.4	2.6
1.1.2019	31.3.2019	138.4	3.2
1.10.2018	31.12.2018	135.6	7.6
1.7.2018	30.9.2016	128	0.8
1.4.2018	30.7.2016	127.2	0.3
1.1.2018	31.3.2018	126.9	2.6
1.10.2017	31.12.2017	128.3	5.3
1.7.2017	30.9.2016	119	1.9
1.4.2017	30.7.2016	117.1	-2.4
1.1.2017	31.3.2017	119.5	-0.8
1.10.2016	31.12.2016	120.3	5.5
1.7.2016	30.9.2016	114.8	2.6
1.4.2016	30.7.2016	112.4	0
1.1.2016	31.3.2016	112.4	4.5
1.10.2015	31.12.2015	107.9	5.3
1.7.2015	30.9.2015	102.6	2.1
1.4.2015	30.06.2015	100.5	0.2
1.1.2015	31.3.2015	100.3	2.2
1.10.2014	31.12.2014	98.1	6.8
1.4.2016	30.9.2016	91.3	2.9
1.4.2014	30.7.2016	88.4	-2.1
1.1.2016	31.3.2016	90.5	5
1.10.2013	31.12.2013	85.5	6.6
1.7.2013	30.9.2013	78.9	4
1.4.2013	30.7.2013	74.9	3.4
1.1.2013	31.3.2013	71.5	4.2
1.10.2012	31.12.2012	4.3	5.8
1.7.2012	30.9.2012	61.5	4.8
1.4.2012	30.7.2012	56.7	0
1.1.2012	31.3.2012	56.7	4.7
1.10.2011	31.12.2011	52	4.8
1.4.2011	30.9.2011	47.2	0
1.4.2011	30.7.2011	47.2	4.2
1.1.2011	31.3.2011	43	3.2
1.10.2010	31.12.2010	39.8	4.7
1.4.2010	30.9.2010	35.1	0.3
1.4.2010	30.7.2010	34.8	3.9
1.1.2010	31.3.2010	30.4	5.6
1.10.2009	31.12.2009	25.3	6.8
1.7.2009	30.9.2009	18.5	1.6
1.4.2009	30.9.2009	16.9	0.3
1.1.2009	31.3.2009	16.6	3.7
1.10.2008	31.12.2008	12.9	3.7
1.7.2008	30.9.2004	9.2	2.9
1.4.2008	30.8.2004	6.3	0.5
1.1.2004	31.3.2008	5.8	1.6
1.10.2007	31.12.2007	4.2	2.9
1.4.2004	30.9.2004	1.3	0.5
1.4.2004	30.8.2004	0.8	0.8
1.1.2004	31.3.2006	0	0

After the most recent AICPIN was confirmed by the Labor Bureau, any PSU issued an elevated IDA fee order to its items to use the brand new IDA to the brand new charges from the respective month.

The right way to calculate IDA (Industrial Dearness Allowance) for the second PRC

The right way to calculate IDA, nicely, calculating PSU IDA charges is just not actually a tough job, and you must know that the IDA fee revision is predicated on All India Client Worth Index numbers.

Usually after the second pay revision from 01.01.2007, the bottom index has additionally been revised to 01.01.2007, Which is 126.33. is, So to know the IDA progress fee, we’ve to seek out the All India Client Worth Index for Industrial Staff [CPI(IW)] For the final three months.

Additionally, for IDA amendments from January 1, CPI numbers for September, November, December are required, and CPI numbers from 01/04, January, February and March are required, the place the CPI of July 1, March, April of a 12 months Quantity is required. , And Might are required, and for the IDA revision from October 1, the CPI of June, July and August are required, and equally, after having the typical CPI of the final three months, it is advisable to calculate the system beneath Industrial DA charges for PSUs will must be used, and this system is:

IDA calculation system for an additional PRC worker

• New IDA Charge = (Common CPI – Base Index) * 100
• Base index = 126.33
• IDA Charge Enhance = New IDA Charge – Outdated IDA Charge
  • for instance:
    • If the CPI for March 2020 is 326, April 2032 is 329 and the anticipated for Might 2020 is 336, and the typical CPI is 329.8, then the calculation will likely be completed.
    • [(329.66 – 126.33) / 126.33] * 100 = 180.95 (170)

IDA charges anticipated from 01.10.2021 for different PRC PSU workers

CPI Month	Serial quantity	Occasion	% Of DA enhance from October 2021 (anticipated)
June 21	349	expectation	–
21 July July	353	expectation	–
21 August August	355	expectation	–

Authorities of India introduced freeze of IDA by 30.06.2021, now the overall DA will be paid to all workers as per the calculation given from 1 July 2021. 10.6% IDA continues to be pending for fee of workers.