Check Expected IDA for January 2024 with Our Online Calculator!
Discover the Anticipated Industrial Dearness Allowance (IDA) for January 2024 Using Our Convenient Online Calculator!
If you are currently employed by a Central Public Sector Enterprise, we invite you to read this article in order to determine the expected percentage of Industrial Dearness Allowance (IDA) that will be effective starting from January 2024.
We have developed a user-friendly online tool that enables you to predict the IDA percentage as of January 1st, 2024. This tool takes into account the IDA issued by the CPSE for employees falling under four distinct categories: Pay Scale 2017, Pay Scale 2007, Pay Scale 1997, and Pay Scale 1987 & 1992. Each quarter, the CPSE publishes IDA orders for these separate pay scales.
The Industrial Dearness Allowance Scheme operates on a point rate system, with DA installments being released four times a year on January 1st, April 1st, July 1st, and October 1st.
To calculate the DA utilize the All India Consumer Price Index for Industrial Workers (AICPI-IW) series with a base of 1960. Derive this index from the 2016 series by applying conversion factors of 4.63, 4.93, and 2.88.
The percentage increase is determined by the quarterly average of the AICPI, which is calculated for the periods ending in February, May, August, and November.
Using our CPSE IDA calculator is straightforward. Simply input the predicted AICPIN 2016 numbers for the months of September, October, and November 2023, and then click on the “Calculate” button. The tool will display the IDA percentage for employees in each of the three pay scales.
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