March 12, 2014

99.90 percent Dearness Allowance for bank employees

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Dearness Allowance for bank employees for the month of February, March, and April 2014.

All India Average Price Index Numbers for Industrial Workers (Base1960=100) for the quarter ended December 2013 are as mentioned below:
  •  October 2013-5501.04
  •  November 2012-5546.69
  • December 2013-5455.39 
    So, Dearness allowance is payable for 666 slabs for the months of February, March, and April 2014. Hence, bank employees will get 99.90 percent dearness allowance for the this period.

    Reference: CIR/HR&IR/76/D/2013-14/8778 dtd 1 feb. 2014 (Indian Bank' Association)