8th Pay Commission: Prime Minister Narendra Modi approved the formation of the 8th Pay Commission in January this year. The 8th Pay Commission is to be implemented from January 1, 2026. But, it may take a long time.
In fact, neither the chairman of the 8th Pay Commission has been appointed nor the members have been elected yet. In such a situation, it is believed that the implementation of the 8th Pay Commission may have to wait till 2028. Here we will know whether the 8th Pay Commission will be applicable to the employees of government banks as well?
Will the 8th Pay Commission be applicable to government bank employees as well?
Pay commission is applicable on all the employees of the central government. After the implementation of the 8th pay commission, the salary of all the employees working in all the departments of the central government will increase. Apart from this, the pension of the employees who have retired from the central government job will also increase. According to Clear Tax, the 8th pay commission will not be applicable on bank employees. Actually, the salary of bank employees is revised under the agreements of the Indian Banks Association (IBA). Therefore, the employees of government banks do not come under the pay commission.
Why is the notification of 8th Pay Commission still pending?
Since the formation of the 8th Pay Commission was approved, lakhs of central government employees and pensioners across the country are waiting for its implementation. In response to a question in the Rajya Sabha on August 12, Minister of State for Finance Pankaj Chaudhary had said that the notification of the 8th Pay Commission is pending because suggestions have been sought from different ministries and states on its Terms of References, which are still being received continuously.
The appointment of the chairman of the commission will be done only after the notification is issued
Giving information, the Minister of State for Finance said that letters were sent to the Ministry of Defense, Ministry of Home Affairs, Department of Personnel and Training and all the states on 17 January and 17 February 2025 to send suggestions. The notification will not be issued until all the inputs are received. The government has assured that it will be issued “at the appropriate time”. The minister clarified that the chairman and other members of the commission will be appointed only after the notification is issued.
