8th Pay Commission: How Much Salary Hike Can Central Government Employees Expect? Check Details Here
Delhi, July 31: There is positive news for central government employees as discussions about the formation of the 8th Pay Commission are reportedly progressing favourably. If implemented, the 8th Pay Commission could bring a significant salary hike for employees, whose basic salary currently stands at Rs 18,000 under the 7th Pay Commission.
A crucial component in determining salaries is the fitment factor, which recalculates the old basic pay to the revised basic pay. Under the 7th Pay Commission, the fitment factor was set at 2.57 times, resulting in the current basic salary of Rs 18,000. Despite this, the 7th Pay Commission delivered the lowest salary hike historically. 8th Pay Commission Latest Update: When Will Central Government Announce Pay Panel’s Formation? Know Details Here.
Reports indicate that the 8th Pay Commission may propose increasing the fitment factor to 3.68 times, potentially raising the minimum salary to Rs 26,000. This anticipated hike has generated significant interest among central government employees, who are keen to see how the new recommendations will impact their pay structure. 8th Pay Commission: No Proposal to Constitute New Pay Commission, Says Government in Lok Sabha; Check Latest Update.
However, the implementation of the 8th Pay Commission remains uncertain. While some government sources suggest the possibility of not considering a new pay commission, experts argue that dismantling the existing system abruptly is not feasible. The next Pay Commission is expected to follow the trend of being implemented every 8-10 years, with the timeline likely to commence from January 1, 2026.
If enacted, the 8th Pay Commission would affect the entire Pay Matrix, starting from level 1 with a minimum salary of Rs 26,000, and extending up to level 18. Central government employees remain hopeful that the forthcoming Pay Commission will address their financial expectations, continuing the tradition of periodic salary revisions.
(The above story first appeared on Today News 24 on Jul 31, 2024 07:58 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
