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HomePersonal Finance7th Pay Commission : Big Updete! Now the salary of 68 lakh...

7th Pay Commission : Big Updete! Now the salary of 68 lakh central employees and 52 lakh pensioners will increase on this basis.

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7th Pay Commission: If you are an employee then this news is for you. Actually, according to a recent update, it is being said that the salary of 68 lakh central employees and 52 lakh pensioners will now increase on this basis… According to the information received, let us tell you that the salary of 7th Pay Commission will increase. Now it is difficult for the next pay commission to come.

Central government employees are getting the benefit of salary components under the 7th Pay Commission. The biggest benefit they get is in the form of Dearness allowance. But, the Central Government (Modi Government) can soon give a big update to the government employees. There may be a new formula for increasing their salary.

Government is not in favor of bringing a new pay commission-

Former Finance Minister Arun Jaitley, while speaking on the Pay Commission in July 2016 itself, had said – Now there should be a new parameter for increasing the salary of employees apart from the Pay Commission.

According to Finance Ministry sources, the government is no longer in favor of bringing a new pay commission for central employees. The government is working on such a system by which the salary of the employees increases on the basis of their performance (Performance linked increment).

Salary revision will happen after 50% DA –

According to sources, after the 7th Pay Commission, it is difficult to come next pay commission. According to the information received, the government is working in this direction to create a system for 68 lakh central employees and 52 lakh pensioners, in which there will be automatic revision in salary if DA is more than 50 percent. For this, ‘Automatic Pay Revision System’ can be made.

At the same time, employees also believe that considering the current inflation rate, it will be difficult for them to survive with the recommendations for salary increase that have been going on since 2016. However, a final decision on this is yet to be taken by the government.

Which employees will get the benefit?

According to a Finance Ministry official, Arun Jaitley wanted that there should be a salary increase for middle level employees as well as lower level employees. According to the official, given the long-running trend of income polarization and shrinking middle level in central government departments after the new formula, it seems that broad mid-level employees will There will not be much increase in the level. But, lower level employees may seem to benefit from it.

Minimum basic salary can be Rs 21 thousand-

For a central employee with pay level matrix 1 to 5, his minimum salary can be between Rs 21 thousand. Narendra Modi government is not in favor of the next pay commission. If we look at the trend of Pay Commission, it is implemented every 8-10 years. But, this time it can be changed and a new formula can be implemented in the year 2024. According to government employees, the salary should be almost three times. The increase in 7th Pay Commission was the least.

What is the update regarding fitment factor?

For the last few days, there have been reports in the media that the government may soon increase the fitment factor of central employees. But, according to sources, there will be no increase in fitment factor in the year 2022. At present the government is not in favor of increasing the fitment factor.

This additional financial burden due to Covid-19 and inflation can worsen the situation. If sources are to be believed, now the decision on fitment factor will also be taken only when a new formula for increasing the salary is brought. Before that it is difficult to make any kind of speculations. The government is continuously working on creating such a formula that will keep the salary increasing from time to time.

Pravesh Maurya
Pravesh Maurya
Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ businessleaguein@gmail.com

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