- Advertisement -
HomePersonal Finance8th Pay Commission: Good news! Employees' salary will increase three times, when...

8th Pay Commission: Good news! Employees’ salary will increase three times, when will it be implemented – know the update

- Advertisement -
- Advertisement -

8th Pay Commission: Central government employees and pensioners are eagerly waiting for the appointment of the chairman of the 8th Pay Commission and the finalization of the Terms of Reference (TOR). More than 1.2 crore central government employees and pensioners are waiting for revision of their pay and pension.

8th Pay Commission: Central government employees and pensioners are eagerly waiting for the appointment of the chairman of the 8th Pay Commission and the finalization of the Terms of Reference (TOR). More than 1.2 crore central government employees and pensioners are waiting for revision of their pay and pension. The 8th Central Pay Commission (CPC), approved by the Union Cabinet earlier this year, is expected to be implemented around 2027. This will bring about a major change in the salary structure of central government employees across India. However, the official Terms of Reference, chairman and members of the commission have not been announced yet.

What is the 8th Pay Commission?

The Pay Commission is a periodic exercise conducted by the Government of India to revise the pay structure of central government employees. It affects not only the basic pay and allowances of government employees, but also pension and retirement benefits. The 8th Pay Commission will replace the 7th CPC, which was implemented in 2016. At the core of the CPC recommendations is the Pay Matrix, a system that determines salaries based on levels and years of service. The fitment factor, which multiplies the existing pay to arrive at the new basic pay, is expected to be increased from 2.57 (under the 7th CPC) to 2.86 under the 8th CPC.

How much can the salary increase

For example, employees in Pay Level 1, who are currently earning a basic salary of ₹18,000, could benefit by up to ₹51,480. At the same time, level 2 employees can get benefits ranging from ₹19,900 to ₹56,914. Level 3 employees can get an increase of ₹21,700 to ₹62,062. At level 6, the basic salary can increase from ₹35,400 to over ₹1 lakh, while level 10 officers, including entry-level IAS and IPS officers, can get benefits ranging from ₹56,100 to ₹1.6 lakh.

Most Read Articles:

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
RELATED ARTICLES

Most Popular

Recent Comments