Here are the new expecting IDA rates from 1st January 2021 for PSU employees of 3rd PRC, Check the Industrial Dearness Allowance increased rates in % wise for each quarter after Pay Revision, also check the IDA calculation new formula applicable for 3rd PRC IDA…
The Central Public Sector employees (CPSE) have got a new PRC which is the 3rd PRC from 01.01.2017 for revision of pay scales of all the cadre employees in each organization.
As per the order issued by the approval of the Department of Public Enterprises (DPE), and as per the new PayScale revision, the PSU Industrial Dearness Allowance (IDA) becomes ZERO and is acknowledged at certain months beginning of the January, April, July, and October.
The 3rd PRC change is effective for all the Industrial workers who are under the Industry brands as mentioned below as well which can be found over the PRC Wage Relief, One of the major aspects or elements that helps in increase or decrease in the Monthly Net Income on employee Pay Scale of 3rd PRC is based on the average value of the AICPIN numbers for each quarter released by labor bureau.
PSU IDA Rates for 3rd PRC Employees
|IDA from||To||% of IDA||% of Increase|
The above are the confirmed Industrial IDA rates for PSU employee pay scales, and these are applicable for all officers and non executive industrial workers working in Government Public Sector Undertaking company, and the new rates on basic pay of 3rd PRC will be paid after the release of AICPIN numbers of that quarter by Labour Bureau.
IDA Calculation Formula for 3rd PRC employees of PSU
- Average AICPIN (2001-100) for the Quarter (Jun2020 – 332, July 2020 – 336 & Aug 2020 – 338, Calculate the Average of this quarter)
- Link Point = 277.33 ( As on 01.01.2017)
- An increase over link point = XX( Average of quarterly AICPIN minus Link Point
- IDA Rate from 1st October 2020 = XX% [(Point3-Point2)*100]
At present the following Central Government Public Sector Undertaking (PSU) companies, are successfully implemented 3rd PRC for their employees, and the Industrial Dearness Allowance (IDA) Rates indicated and mentioned for each quarter clearly as below
- ONGC (Oil & Natural Gas Corporation)
- IOCL (Indian Oil Corporation Limited)
- HPCL (Hindustan Petroleum Corporation Limited)
- BPCL (Bharat Petroleum Corporation Limited)
- Oil India
- CCIL (Container Corporation of India Limited)
- NTPC (National Thermal Power Corporation)
- Coal India Limited
- BHEL (Bharat Heavy Electrical Limited)
- HAL (Hindustan Aeronautics Limited)
- GAIL (Gas Authority of India Limited)
- AAI (Airport Authority of India)
- NHPC (National Hydroelectric Power Corporation)
- PGCIL (Power Grid Corporation of India Limited)
- POSOCO (Power System Operation Corporation)
- NLC (Neyveli Lignite Corporation)
- NALCO (National Aluminum Company Limited)
- EIL (Engineers India Limited)
- TCIL (Telecommunications Consultants India Limited)
- ECIL (Electronics Corporation of India Limited)
- CWC (Central Warehousing Corporation)
- FCI (Food Corporation of India)
- SPMCIL (Security Printing & Minting Corporation of India Limited)
- Bridge and Roof Co (India) Ltd
Expecting IDA Rates from 01.01.2021 for 3rd PRC Employees
|Month||CPI Index Number||Status||% of Increase Expecting|
|Sep20||340 (118 = 2016 Base Year CPI)||Expecting||—|
Government of India has announced the instructions of IDA for all CPSE’s upto 30.06.2021, after that from 01.07.2021, the applicable DA will be paid without arrears.