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[Cites 0, Cited by 0] [Section 5] [Entire Act]

Union of India - Subsection

Section 5(1) in The Life Insurance Corporation Of India Class I Officers (Revision Of Terms And Conditions Of Service) Rules, 1996

(1)The scales of dearness allowance applicable to Class I Officers shall be determined as under :
(a)Index : All India Average Consumer Price Index number of Industrial workers.
(b)Base : Index No. 1148 in the series 1960=1-00:
(c)Rate : For every four points in the quarterly average of the All India Price Index above 1148 points, Class-I Officers may be paid dearness allowance at the following rates-
Basic Pay Rates of dearnessallowance for every 4 points.
(i) upto Rs. 4,800 0.35% of basic pay
(ii) Rs. 4,801 to7,700 0.35% of Rs. 4,800plus 0.29% of basic pay in excess of Rs. 4,800.
(iii) Rs. 7,701 to8,200 0.35% of Rs. 4,800plus 0.29% of difference between Rs. 7,700 and Rs. 4,800 plus0.17% of basic pay in excess of Rs. 7,700.
(iv) Rs. 8,201 andabove 0.35%of Rs. 4,800 plus0.29%of difference between Rs. 7,700 and Rs. 4,800 plus0.17%of difference between Rs. 8,200 and Rs. 7,700 plus0.09% of basic payin excess of Rs. 8,200