In academic institutes is there any specific annual increment to be provided to Professors like 3% on basic or is it the discretion of the institute authorities?
From India, Bangalore
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1From India, Bangalore
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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
From India, Pune
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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
From India, Pune
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Sector & Gradewise Median Pay Raise Increment 2012.pdf
VARIABLE PAY.doc