8th Pay Commission Latest News: There is big news for central employees regarding the 8th Pay Commission. If the 2.28 fitment factor is approved and the annual increment rate is increased from 3% to 6-7%, then level 9, 10 and 11 employees can get huge benefits in the next 10 years. According to approximate calculations, employees at these three levels can get additional basic salary ranging from Rs 34 lakh to Rs 43 lakh. Let us understand how this benefit will be available and how much benefit an employee of which level can get.
8th Pay Commission meeting ends in Mumbai
In the meeting of the 8th Pay Commission held in Mumbai, employee organizations, pensioners association and government representatives put forward their demands. During this, new salary, allowances, pension and work related facilities of government employees were discussed. The meeting has ended, but no date has been revealed yet for the next meeting of the Commission.
Demand for annual increment of 6-7%
The biggest demand of employee organizations is to increase the annual increment. At present, the basic salary of central employees increases by 3% every year. Employee organizations say that this increase is quite low considering inflation and rising expenses. According to organizations, if the rate of increment is increased every year, then employees can get a better increase in their salary. For this, different employee organizations have proposed 6% and 7% annual increment.
The National Council-Joint Consultative Machinery (NC-JCM) in its demand letter has demanded increasing the annual increment from 3% to 6%. All India Defense Employees Federation (AIDEF) and Federation of National Postal Organizations (FNPO) have also supported this demand. At the same time, All India NPS Employees Federation (AINPSEF) has demanded an annual increment of 7%. The organization says that the current rate of 3% is much lower than inflation. According to him, if there is an increase of 7% every year, then the salary can almost double in about 7 years.
How much will be the impact on salary in 10 years?
Employee organizations say that with the current 3% increment, the basic salary increases only by about 30% in 10 years. At the same time, if the annual increment is made to 6 or 7%, then in the long run there can be a huge difference in the basic salary of the employees. This is the reason why employee organizations want that the rate of salary increase given every year should be increased in the new pay commission.
TakeWhat is the basic salary of the employees of class 9, 10 and 11?
As per the existing pay matrix, the starting basic salary of employees at different levels is as follows:
Level 9: Rs 53,100
Level 10: Rs 56,100
Level 11: Rs 67,700
If the rate of annual increment increases, there may be a big change in the basic salary of these employees.
2.28 Calculation on Fitment Factor
According to current estimates, if calculated on the basis of fitment factor of 2.28 and the rate of annual increment is also increased, there can be a big difference in the total basic salary of the employees over a period of 10 years. According to the given estimate, Level 9 employees can get additional basic salary of around Rs 34 lakh, Level 10 employees can get around Rs 36 lakh and Level 11 employees can get around Rs 43 lakh.
However, these figures are based on approximate calculations. Only after the final recommendations of the 8th Pay Commission and the decision of the government, it will be clear how much the actual salary of the employees will increase. At present, the eyes of the employees are fixed on the next meeting of the Commission and the decision on annual increment.
Source: www.livehindustan.com
