Academic Pay Raises: Are Professors Guaranteed a Specific Annual Increment?

In academic institutes, is there any specific annual increment to be provided to professors, like 3% on basic, or is it at the discretion of the institute authorities?

Understanding Increments Under the VIth Pay Government Scale

Kindly note that when discussing increments under the VIth Pay of the Government Scale, the increment should be equal to the Revised Basic = (Present Basic + Grade Pay) x 3%, rounded to the nearest ten (i.e., if 430.99 then 430 only or 431 = 440). This increment is due on every 1st of July each year.

In the calculation of D.A. (Dearness Allowance), the present 72% is of Basic + Grade Pay + Traveling Allowance.

Regards,
Ramakant