South africa’s public servants across national and provincial departments will receive a 4.7% salary increase effective 1 april 2024. Three out of four companies likely to offer over 9% pay increase;
Minimum wage also increased to rs36,000 per month. Salary increase budgets in 2023 reached their highest level in 20 years, new research shows, and employers are planning to stay fairly aggressive on pay going into next year.
The Second Edition Of Ey's 'Future Of Pay 2024' Report Predicts That India Inc Will Witness An Average Salary Increase Of 9.6% In 2024, Similar To Last Year.
Employers plan to raise compensation budgets in 2024 by 3.5% for merit increases and 3.9% for total.
At A 46% Da Rate, Their Dearness Allowance Amounts To Rs 24,610.
Therefore, with a 4% increase.
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If The Da Rate Increases To 50%, Their Da Would Rise To Rs 26,750.
The new national minimum wage will be $915.90 per week or $24.10 per hour.
That’s According To Wtw’s Latest Salary Budget Planning Report By Leading Global Advisory, Broking And.
They found that employers are planning to increase their salary budgets by about 4% next year.