Tuesday, November 26, 2024
HomePersonal Finance8th Pay Commission: New update regarding new pay commission and salary hike...

8th Pay Commission: New update regarding new pay commission and salary hike for employees, know how much the basic salary will increase?

8th Pay Commission: If the recommendations of the 8th Pay Commission are implemented, the minimum salary of central employees may increase from ₹18,000 to around ₹34,560, while the minimum pension of pensioners may be ₹17,280.

8th Pay Commission: On one hand, the Modi government at the center has given the gift of 3 percent dearness allowance to the employees and pensioners after implementing the Unified Pension Scheme, after which DA has increased from 50 to 53 percent. Now the next DA will increase in 2025. On the other hand, the discussion of the new pay commission has started before 2025. Because usually the central government constitutes a new pay commission every 10 years to revise the salaries of government employees.

It is being speculated that in the new year 2025, the Modi government can take a big decision regarding the 8th Pay Commission. If the recommendations of the 8th Pay Commission are implemented, then the minimum salary of central employees can be increased from ₹ 18,000 to about ₹ 34,560, while the minimum pension of pensioners can be ₹ 17,280. Meanwhile, the Joint Consultative Machinery (JCM) has agreed to hold a meeting with employee organizations in November, it is expected that the 8th Pay Commission will be discussed in this meeting.

A new pay commission has been implemented every 10 years

In fact, till now a new pay commission has been formed every 10 years. The 7th Pay Commission was constituted in February 2014, but its recommendations were implemented from 1 January 2016, which is going to expire on 31 December 2025, on this basis the 8th Pay Commission is to be implemented in January 2026, so the stir has intensified from now on. If media reports are to be believed, the central government can take a decision regarding the 8th Pay Commission in the budget 2025. With the implementation of the new pay commission, the basic salary can increase from 18000 to 34000.

That’s why the demand for New Pay Commission is rising

It is worth noting that the Pay Commission is a special committee constituted by the Government of India, the main objective of this committee is to review the salary, allowances and pension of central employees and pensioners and recommend necessary amendments in them. In the new Pay Commission, the salary and pension of government employees are revised according to different economic parameters, especially inflation. Till now, the Central Government has been forming a new Pay Commission every 10 years, according to this, the next Pay Commission is to be implemented in 2026.

During the budget session in February, various employee organizations including the Employees Federation, National Council of Joint Advisory Machinery and Indian Railway Technical Supervisor Association had written a letter to the Central Government demanding the implementation of the 8th Pay Commission. The Employees Forum has also presented a memorandum regarding the Pay Commission to Union Cabinet Secretary TV Somanathan.

Recently, during the monsoon session, Rajya Sabha MPs Ramjilal Suman and Javed Ali Khan had raised questions about this. On this, Minister of State for Finance Pankaj Chaudhary had said that at present there is no proposal before the Central Government for the consideration of the 8th Finance Commission, only 2 representations have been received by the government, hence there is no thought about its formation.

What will be the effect of 8th Pay Commission on the fitment factor?

  • The special thing is that after the implementation of 8th Pay Commission, the minimum salary of central employees can increase from ₹ 18,000 to about ₹ 34,560 i.e. an increase of about 92%, while the minimum pension for pensioners can also increase to ₹ 17,280.
  • Along with this, the fitment factor will also increase from 2.57 to 3.68. This can lead to a possible increase in the salary of employees from ₹ 20,000 to ₹ 25,000. Currently the fitment factor is 2.57 times and the basic salary is Rs 18000. It is believed that the fitment factor is increased from 2.57 percent to 3.00 or 3.68 percent.
  • Earlier, the Central Government had last increased the fitment factor in 2016 and the 7th pay commission was also implemented from this year. This will benefit about 48.62 lakh employees and 67.85 lakh pensioners.
Shyamu Maurya
Shyamu Maurya
Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018. Since then he has been associated with Informalnewz. In case of any complain or feedback, please contact me @informalnewz@gmail.com
RELATED ARTICLES
- Advertisment -

Most Popular

Recent Comments