Bhubaneswar: The Odisha government on Wednesday sanctioned a 4% increase in dearness allowance (DA) from 46% to 50% with effect from 1st January 2024 for employees of State Public Sector Undertakings (PSUs) drawing pay in the Revised Scale of Pay, 2017.
The Public Enterprises Department of the Government of Odisha has issued an Office Memorandum on Wednesday in this regard.
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However, the sanction of 4% increase of DA is subject to the under mentioned conditions:
This additional dose of D.A. shall be sanctioned in favour of the eligible employees of State PSUs who have satisfied the following entitlement criteria on case-to-case basis.
i) Completion of statutory audit up to FY 2023-24. ii) The PSUs should not have defaulted in repayment of loan to any Bank /Financial Institution or to the State Government. iii) Should not have defaulted in payment of statutory dues of employees such as Provident Fund & ESI iv) Should not be in receipt of any budgetary grant or subsidy partly or fully for covering its Administrative/Establishment expenses. v) Should have adequate internal resources to meet the additional financial burden arising out of the enhanced dose of D.A. from its own sources, vi) Signing of MOU with the Administrative Department for FY 2024-25. vii) Should have ensured appointment of Independent Directors in their Board as per requirement of Corporate Governance Manual. viii) Only profit making State PSUs shall release the additional dose of 4% DA to its employees raising it from 46% to 50% w.e.f 01.01.2024 drawing pay in Revised Scale of Pay, 2017. ix) Administrative Department must ensure that the additional financial burden towards release of DA @ 4% from 01.01.2024 shall he borne by the concerned PSIJ itself out of its own resources without any financial assistance from Government exchequer.
The PSUs which fulfill the above criteria and have been categorized under the Categorization Framework will send their proposals for the purpose to their respective Administrative Departments with due approval of their Board of Directors.
Other PSUs which do not fall under the Categorization Framework but fulfill the above criteria may send their proposals for necessary consideration to the Public Enterprises Department through their Administrative Departments after due approval of their Board of Directors on a case-to-case basis.
