New BSNL IDA Rates of employees valid from the 4rd quarter of 2020 – 2021 financial year starts from January 2021 records a “formidable increase” again from 01.01.2021, after taken outstanding increments of PSU IDA from the starting of this new previous financial year 2020 2021.
It is the new financial increase for all executive and nonexecutive BSNL employees from 01.10.2020 in the PSU, and it is a compensatory allowance from the Central Government for not being able to contain prices.
All these additional IDA given is taxed as per the slabs of Income Tax, As we said earlier about BSNL IDA calculation, but remains again this, where the Industrial Dearness Allowance (IDA) Rates calculates on All India Consumer Price Index (IW) with the below said points.
- It is based on the weighted average of prices for consumer goods and services.
- For October to December (3rd Quarter of the Financial year 2020-2021) of 2020, IDA calculation in the mean of specified months (June 2020, July 20, August 2020) taken into consideration.
- It decides as per the price index numbers issued by the Department of Labour Bureau of India, and it is also after taking price changes for each item in the predetermined basket of goods of the above months.
Now, as per All India Consumer Price Index Numbers for Industrial Workers CPI(IW) issued by the Department of Labour Bureau, CPI records ‘an increase of 2 points’ in the first month (September 2020), and 4 points for October and November are yet to be released on 31.12.2020
Based on this expecting average of three months Consumer Price Index Numbers for Industrial Workers CPI(IW), BSNL IDA rates of employees and pensioners increment will be calculated and expecting an increase of 5.8% IDA from January 2021 which reaches to 171.2% as total IDA for an employee.
Expecting IDA Rates from January 2021
Based on these confirmed CPI points, let’s have a look at the confirmed IDA rates for PSU employees and pensioners from starting of the 2nd PRC.
Department of Public Enterprises will issue the orders for the increase in dearness allowance, accordingly, PSU releases new instructions to all BSNL circles for a new increase of BSNL IDA rates with effect from 01.10.2020, So, with this new CPI Index numbers, BSNL employees and pensioners will get new IDA rates from the third quarter of this Financial Year 2020 – 2021.
Expecting BSNL IDA Rates from January 2021
|Month||CPI Numbers||Status||% of Increase Expecting from 01.01.2021|
Even if there is a stable index number at 344 for January 21, the BSNL IDA rates will record an increase in IDA up to 5.8%, Have a look at the above calculator table for expecting rates at each point.
Note: Due to the freeze of IDA announced by GOI, the increased/calculated IDA rates may be paid after 01.07.2021.