Very recently good news has come for the central employees, as soon it may be that the salaries of the employees are increased. Soon the Government of India is expected to announce an increase in the salaries of the employees under which relief will be offered to them from the high inflation. There will be a huge hike in the salaries and other allowances due for payment to the employees by the Central Government on this decision being taken. The pensioners also stand to benefit a lot from this.
increase in salary under the 8th Pay Commission
At present, there have been debates among the employees regarding the seeking of proposals for increment of salary of the central employees regarding the National Council of Joint Consultative Machinery. First-hand speculation is that through the same parameter, salary of the employees coming under the central government shall be considered with a fitment factor of 2.86 (Fitment Factor during 7th Pay Commission).
If so, then really it leaves bumper availing to the employees. Let it be informed that the fitment factor determines the salary of employees while fixing the placement of pay and recalculating the salaries and pensions of such employees.
fitment factor under the 7th Pay Commission
If we take into consideration the fitment factor under the seventh pay commission, it used to be 2.56. Now the employees are taking the basic salary rate of Rs. 18,000 on this basis. If the fitment factor of 2.86 would be implemented under the 8th pay commission due to the demand of employees, then on that basis, the minimum salary (Basic Salary Hike) of the central employees would be increased from Rs. 18,000 to Rs. 51,480. Employees hope that like the 7th Pay Commission the demand for fitment factor will be accepted this time as well.
The pension of retired employees
If the employees’ proposal is accepted under the 8th Pay Commission (Latest news in new pay commission), then, all the pensioners will be benefited enormously. As far as the minimum pensions are concerned, Rs. 9000 is at present the rate of pensions given to retired employees as per the 7th Pay Commission. On the other hand, if the government increases the Fitment Factor to 2.86, a minimum pension of employees could be the Rs 25,740 mark. It will also ameliorate the financial condition of retired employees as well.
Other allowances including DA will also get benefits
When we talk about the revision of salary and pension, there is an 8th Pay Commission under which employees will get these benefits along with many other allowances that could include dearness allowance. Under this, dearness allowance employees make are protected from inflation.
It is known to you that the DA twice revised by the Central Government in a year (DA Hike In 8th Pay Commission). Under the 8th Pay Commission, an increase or decrement guarantee is given with regard to the basic salary in DA and other allowances.
The soon UPS may be implemented
Possibly, the Central Government will announce the Unified Pension Scheme in April of next year. It might be the average salary of the employee for the last 12 months before retirement on which pension would be calculated under the scheme. It is said that this might be 50 percent. So, these present changes are expected to be systematic and beneficial for the beneficiaries of the scheme (benefits of UPS).
What is the date for the announcement-related thereupon the 8th Pay Commission as well?
It is supposed that the government may announce the 8th Pay Commission, which benefits the employees and pensioners, in the Union Budget next year. Thereafter, when established and convened, the recommendations that the 8th Pay Commission will make can best be accepted by the Central Government. This can be beneficial for improving the financial position of the employees as well as providing solutions to improve the standard of living of the employees and the pensioners.
These are what will benefit such persons, including the employees.
The employees are waiting for the announcement from the Government for the Eighth Pay Commission. It would be quite easy for the employee and pensioners to counter this high inflation if the Government approves the employees’ demands for the official pay.
Besides, their economic standard improves. Most of the employee and pensioner community will probably benefit from such implementation with regard to salaries, pensions, dearness allowance, then other facilities. This, in turn, will also benefit the families of the employees.
