8th Pay Commission : The last modification of the salary scale for employees was made when the 7th Pay Commission was updated in 2013. For the last nine years, employees have been following the 7th Pay Commission. The employees have been eagerly awaiting the implementation of the 8th Pay Commission. Once the 8th pay commission is established, employees (Employees and Pensioners) will enjoy various benefits among those benefits, which is the most important, is an increase in basic salary and also other allowances. If the central government agrees to the demands of the employees, considerable relief from inflation will be given to the employees.
Increase in salary due to the 8th pay commission
It is speculated that due to this, the basic salary of employees (basic salary hike update) will be increased by the central government. After this enhancement, the basic salary of employees may then get this much at Rs34500. If this increment is performed by the central government, then the salaries of employees must be increased by up to 186 percent. The new pay commission demands a recommendation of a salary hike of 2.86 times for the employees.
Factors Under New Pay Commission
The new pay commission 2.86 basis has a very favorable aspect for the factor of fitment beneficial for the employees. Fitment factor determines the salary and pensions for government employees and their retirees. Higher pay can lessen the economic burden posed on the employees through inflation. As of today, the fitment factor according to 7th Pay Commission for employees amounts to 2.57 after which minimum wages are laid at Rs 18000 for employees.
These will also be favorable for pensioners
The employees are apparently going to get a terrific increase in their salaries according to the 8th Pay Commission (as for the time period wherein the 8th pay commission can take effect). Rs 9000 is the prescribed limit for pension under its specification for retired employees; however, it can be multiplied by this fitment factor of 2.86. In this system, the pension of these employees (new pay commission) can be enhanced by Rs 25740. Besides pension and other allied allowances, the employee will be entitled to an increased amount under dearness allowances or DA.
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