IDA Rates for 3rd PRC Employees: Here are the new expecting IDA rates from October 1, 2020, for PSU employees of 3rd PRC; check the Industrial Dearness Allowance increased rates in % wise for each quarter after Pay Revision and check the IDA calculation new formula applicable for 3rd PRC IDA.
New IDA Rates from 01.10.2020 (Expecting)
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 Department of Public Enterprises (DPE) ‘s approval, 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 significant 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 significant 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 up to 01.10.2020 for 3rd PRC Employees
|IDA from||To||% of IDA||% of Increase|
|01.10.2020||31.12.2020||20.7 (Expecting)||2.3 (Expecting)|
The above are the confirmed Industrial IDA rates for PSU employee pay scales. These are applicable for all officers and nonexecutive industrial workers working in Government Public Sector Undertaking company. The new rates on basic pay of 3rd PRC will be paid after the release of AICPIN numbers of that quarter by the Labour Bureau.
IDA Calculation Formula for 3rd PRC employees of PSU
- Average AICPIN (2001-100) for the Quarter (Mar2020 – 326, April 2020 – 329 & May 2020 – 334, Average of this quarter: 329.66)
- Link Point = 277.33 ( As on 01.01.2017)
- The increase over link point = XX( Average of quarterly AICPIN minus Link Point (329.33 – 277.33)
- IDA Rate from 1st July 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
- 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)
Expecting IDA Rates from 01.10.2020 for 3rd PRC Employees
|Month||CPI Index Number||Status||% of Increase|
|August 20||336||Expecting||2.5 (Expecting)|