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Tuesday, 19 March 2019

Factor for each wage revision and Cumulative factors

Not much of a difference.By and large our multiples are very near.
I had calculated cumulative multiples by taking more decimals in excel.That could be the reason for slight difference.
Anyhow it becomes material only when upgradation becomes official.
Kind regards.
CHM

1 comment:

M B Chandran Menon. M.com.,AIII,DAME said...

It is an accepted fact there is erosion of money value.The salaried class are badly affected by this phenomenon.In order to contain this loss to a certain extent due to depletion of money value Dearness Allowance is introduced.In the long run Dearness Allowance also become insufficient to safe guard money value & purchasing power due to unforeseen economic conditions, Pay revision is resorted to make up loss of money value & purchasing power beyond the ambit of dearness allowance .Now coming to the subject of pension, Supreme court has already declared that Pension is not a bounty, it is differed wages for the services reentered & a right. Although Dearness allowance is given in pension also to make up the erosion of money value & purchasing power, but discriminated from salaried successors by denying pension updation during wage revision, even though pension is a differed wage as declared by Hon Supreme Court.Hence this is case can be which comes under Article 226.

AN ARTICLE BY MBC MENON
https://licgicesmanch.blogspot.com/