- Big news for government employees!
- Will the annual salary increase be doubled?
- How much will the salary increase?
8th Pay Commission : An important news is coming for central government employees. Almost 10 months have passed since the 8th Pay Commission notification. Only eight months are left for salary and pension hike. This means now the 8th Pay Commission will soon bring a big good news for the Central Government employees and pensioners. Unlike the private sector, government employees get only 3% annual increment on their basic pay. However, this 3% pay hike has now become the biggest and most controversial issue before the 8th Pay Commission. The wait of last 10 years is likely to be finally over. Let's know exactly how much the salary increase will be and how much the salary will increase. (8th Pay Commission)
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Which organization made the demand?
Both the Bharatiya Parmushi Mazdoor Sangh (BPMS) and the largest employees' union, NCJCM, have submitted their submissions to the Eighth Pay Commission. In it, he has clearly said that the current rate of 3% salary increment should be increased to 6%. Meanwhile, the Ministerial Staff Association (MSA) of Survey of India has demanded a 5% hike.
Why is the difference between DA and Wage increment necessary?
BPMS has clarified the difference between dearness allowance (DA) and pay increment. In it, he said that Dearness Allowance only compensates for inflation, while the annual wage increase improves the real income and standard of living of the employees. Pay commission comes every 10 years. In such a case, a small wage increase of 3% means that there is no significant increase in the employee's real wages over 10 years. The same rate of 3% was maintained by the 6th and 7th Pay Commissions, but this rate is very low given the current inflation.
Salary Increase Math: The Difference Between 3% and 6%
Understand a simple math.
Under the 7th Pay Commission, an employee who started work with a basic pay of at least Rs.18,000 would get a basic pay of Rs.24,190 after 10 years (after 3% pay increment). However, if the same pay increment is 6%, his basic pay will be Rs.32,235. This means a direct benefit of Rs 8,045 per month! An employee who gets a 6% pay rise in 10 years will get roughly Rs 4.67 lakh more than an employee who gets a 3% pay rise. For mid-level employees, the difference is even greater. With a 6% pay hike, after 10 years their salary will increase by Rs 25,073 per month, i.e. an additional income of approximately Rs 14.6 lakh in 10 years.
After 8 months, the commission will submit the report
Everyone's attention is now on the decision of the eighth pay commission on this urgent demand of the employees. Eighth Pay Commission was given 18 months to submit its report, of which 10 months have already passed. This means, the commission can submit its report after 8 months, which will pave the way for increase in salaries and pensions of central employees.
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