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eighth Pay Commission: If the federal government approves the fitment issue of two.86, the minimal wage of presidency workers will shoot up by 186 per cent to Rs 51,480, in contrast with the present payout of Rs 18,000.
The central authorities on Thursday authorised the structure of the eighth Central Pay Commission
eighth Pay Commission: The central authorities introduced on Thursday the formation of the eighth Central Pay Commission, tasked with reviewing and recommending wage revisions for central authorities workers. The fee is to submit its report by 2026.
During a Cabinet briefing, Union Minister Ashwini Vaishnaw on Thursday mentioned, “Prime Minister has authorised the 8th Central Pay Commission for all workers of Central Government.”
Vaishnaw additional mentioned the chairman and two members of the Commission shall be appointed quickly.
eighth Pay Commission Minimum Salary Increase
According to some earlier studies, central authorities workers are anticipated to see a 186 per cent leap of their minimal salaries.
The workers presently get a minimal primary wage of Rs 18,000 monthly below the seventh Pay Commission, which was elevated from the sixth Pay Commission’s Rs 7,000.
Minimum Salary, Pension Under eighth Pay Commission
Shiv Gopal Mishra, Secretary (employees facet) of the National Council of Joint Consultative Machinery (JCM), has mentioned he expects a fitment issue of at the least 2.86. It is 29 foundation factors (bps) larger as in contrast with 2.57 fitment issue below the seventh Pay Commission.
If the federal government approves the fitment issue of two.86, the minimal wage of presidency workers will shoot up by 186 per cent to Rs 51,480, in contrast with the present payout of Rs 18,000, in accordance with a Financial Express report.
Any additional hike in fitment issue will result in commensurate rise within the salaries.
A hike within the fitment issue raises each the pension and salaries of the workers.
Under the eighth Pay Commission, pensions are additionally anticipated to extend by 186 per cent to Rs Rs 25,740, in contrast with the present pension of Rs 9,000. This calculation holds true if the presently anticipated fitment issue of two.86 will get via.
seventh Pay Commission: When Was It Formed?
The seventh Pay Commission, which led to a considerable leap in authorities workers’ salaries, was shaped in February 2014. Its suggestions have been applied from January 1, 2016. The key suggestions included elevating the minimal primary pay from Rs 7,000 to Rs 18,000; revising the pay construction, allowances, and pensions; introducing a medical health insurance scheme for workers and pensioners; and revising the pension formulation for these retired earlier than January 1, 2016.
Generally, a pay fee is shaped each 10 years, although there isn’t any authorized provision for that. It is a apply.
Currently, there are over 1 crore central authorities workers and pensioners.
