The 7th Pay Commission was enforced long ago in the year 2013, which means the employees have been reliant on the 7th Pay Commission for the last nine years. The implementation of the 8th Pay Commission is keenly awaited by these employees. After the establishment of the 8th pay commission, the employees (Employees and Pensioners) will gain various benefits out of which the benefit of rise in the basic salary as well as other allowances is prime. In case the central government accedes the demand of employees then the employees will also be given considerable relief from the fire’s inflation.
Increase in salary from 8th pay commission
It is speculated that due to this, the basic salary of employees (basic salary hike update) is likely to be increased by the central government. The basic salary of employees may then get this much at Rs 34500 after this enhancement. If this increment is performed by the central government, then the salaries of employees can see an increase of 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
If fitting factor is discussed on 2.86 basis under the new pay commission, it must be very beneficial to the employees. Salary and pensions of government employees and retired employees are based on fitment factor. Higher salary for employees can ease inflation pressure on employees. Presently, the fitment factor according to 7th Pay Commission for employees is 2.57. After which the lowest wages are Rs 18000 for employees.
Pensioners are also going to gain-
Employees are expecting to get an enormous hike in pay under the 8th Pay Commission (when will the 8th pay commission be relevant). Minimum pension under this provision for retired employees is set to be Rs. 9000, but according to the fitment factor, it can go up to 2.86 percent. As a result, the pension of the employees (fresh pay commission) can reach close to Rs 25,740. In addition to the basic pay, the employees will also receive an increased amount under dearness allowance i.e. DA.