7th Pay Commission latest news 8th Pay Commission update: We are constantly getting questions like whether the government will bring next pay commission for central employees or not? And which formula will be used for salary. If you are also in this confusion, then know the important updates.
8th Pay Commission update: Central government employees are getting the benefit of salary components under the 7th Pay Commission. They get the biggest benefit in the form of Dearness allowance. But, the central government can soon give a big update to the government employees. A new formula may come for them to increase the salary.
Government not in favor of bringing new pay commission (NO More Pay Commission)
Former Finance Minister Arun Jaitley, while speaking on the Pay Commission in July 2016, had said – Now there should be a new scale to increase the salary of the employees apart from the Pay Commission. According to sources in the Finance Ministry, the government is no longer in favor of bringing a new pay commission for central employees. The government is working on such a system so that the salary of the employees increases on the basis of their performance linked increment.
Salary revision on DA Hike after 50% will be done on 50% DA
According to sources, after the 7th pay commission, now it is difficult to come to the next pay commission. According to the information received by Zee Business, the government is working in this direction to make such a system for 68 lakh central employees and 52 lakh pensioners, in which there will be automatic revision in salary if DA is more than 50 percent. For this an ‘automatic pay revision system’ can be made. At the same time, the employees also believe that in view of the current inflation rate, it will be difficult for them to survive with the recommendations for salary increase since 2016. However, a final decision on this is yet to be taken by the government.
Which employees will get the benefit? (Which employees get benefit)
According to a finance ministry official, Arun Jaitley wanted that the mid-level employees as well as the low-level employees should get a pay hike. According to the official, given the long-standing trend of income polarization following the new formula and the shrinking mid-level in central government departments, it seems likely that broad mid-level employees will be able to move forward. The level will not see much growth. However, lower level employees may see an advantage in this.
Minimum basic salary hike may be Rs 21 thousand
The minimum salary of a central employee with pay level matrix 1 to 5 can be between 21 thousand. The Narendra Modi government is not in favor of the next pay commission. If you see the trend of Pay Commission, it is implemented every 8-10 years. But, this time it can be changed to implement the new formula in the year 2024. According to government employees, the salary should be about three times. The increase in the 7th Pay commission was the least.
What is the update regarding fitment factor? (Fitment factor revision)
For the past few days, there are reports in the media that the government may soon increase the fitment factor of central employees. But, according to sources, the fitment factor will not increase in the year 2022. At present, the government is not in favor of increasing the fitment factor.
This additional financial burden due to Covid-19 and inflation can worsen the situation. If sources are to be believed, now the fitment factor will also be decided only when a new formula to increase the salary is brought. Before that it is difficult to make any kind of speculation. The government is constantly working on it that such a formula should be made, which will increase the salary from time to time.
