8th Pay Commission: Central workers will receive exciting news in the upcoming year. This positive update will be regarding the 8th Pay Commission. Discussions about the announcement will be happening shortly. After the announcement, reports suggest that there could be a 186 percent rise in the minimum salary of central employees. However, there has not been any official statement released as of now.
There are reports suggesting that the government may reveal it in the forthcoming Union Budget. Media reports indicate that the new Pay Commission will propose a salary increase of 2.86 times for government employees. The raise will be determined by a fitment factor of 2.86, suggested by the National Council of Joint Consultative Machinery (NC-JCM). The fitment factor determines the salary of government employees and the pension of retired employees.
Minimum wage saw a jump from Rs 7,000 to Rs 18,000
During the Seventh Pay Commission, the central government applied a fitment factor of 2.57. The minimum wage saw a jump from Rs 7,000 to Rs 18,000. Likewise, each new pay commission leads to adjustments in both salary and pension. Currently, salaries for central employees are being calculated using a 2.57 fitment factor. If it rises to 2.86, there could be a significant rise in the employees’ base salary. If the current minimum basic salary is Rs 18,000 and a fitment factor of 2.86 is applied, the new salary would be Rs 51,480.
Furthermore, the pension will rise as a result of the higher fitment factor. This Diwali, we would like to inform you that the central government has given a generous gift to millions of employees. The government raised the DA by a maximum of 3 percent. Following this, the dearness allowance rose from 50 percent to 53 percent. Along with the raise in DA, there was also a declaration to provide back payments for the arrears.