Section 5 in Life Insurance Corporation of India Class-I Officers (Revision of Terms and Conditions of Service) Rules, 1985
5. [ Dearness Allowance. [Rule 5 as amended by Amendment Rules 2010 notified on 08.10.2010.]
(1)The scale of dearness allowance applicable to Class I Officers shall be determined as under:-(a)Index : All India Average Consumer Price Index Number for Industrial Workers.(b)Base : Index No.2944 in the series 1960=100.(c)Rate : For every four points in the quarterly average of the All India Consumer Price Index above 2944 points, a Class I Officer shall be paid dearness allowance at the rate of 0.15 % of Pay.]Explanation. - For the purposes of this rule, "Pay" means basic pay including additions to the basic pay after reaching maximum of the scale as provided under rule 4A of these rules.;(2)[ There shall be an upward revision of the dearness allowance payable for every four points rise in the quarterly average (hereinafter referred to as the "current average figure") of the All India Consumer Price Index above [2944 points in the sequence 2944-2948-2952-2956] and so on and there shall be a downward revision of the dearness allowance payable if current average figure falls by four points below the index figure in the above sequence with reference to which the dearness allowance has been paid for the last preceding quarter. On the downward revision, the dearness allowance payable shall correspond to the current average figure if such current average figure is a figure in the above sequence; and the dearness allowance payable shall correspond to the figure in the above sequence next preceding the current average figure if such current average is not a figure in the above sequence. For this purpose, quarter shall mean a period of three months ending on the last day of March, June, September or December. The final Index Figure as published in the Indian Labour Journal or the Gazette of India, whichever publication is available earlier, shall be the Index figure which shall be taken for the purpose of calculation of dearness allowance.] [As amended by notification dated 25.7.1989.](3)For the purpose of calculating dearness allowance for a particular month, the quarterly average for the last quarter for which the final index figures are available on the 15th day of that month shall be taken. Actual payment of this revised dearness allowance shall be made in the month following that in which the relevant index figures are available.
