New Delhi: 8th Pay Commission Latest Updates: Even as the employees union are pressing for the hike in fitment factor of the high bracket under the recommendations of the 7th Pay Commission, a new memorandum is purportedly being prepared by them in this regard, which will soon be submitted to the government, said media reports. The recommendations in this memorandum reportedly mentions that either the salary is hiked as per the highest bracket of the fitment factor or an 8th Pay Commission be implemented.
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Expected pay hike under 8th Pay Commission
As per a Zeebiz Hindi report, the minimum salary of central employees with pay-level matrix 1 to 5 can be upto Rs 21,000. Usually, past trends have shown that Pay Commission is implemented after every 8-10 years. But, this time it can be changed and a new formula can be implemented in the year 2024. The report further states that the salary could jupm upto three times.
Minimum salary as per highest fitment factor under 7th Pay Commission
According to online media, central employees’ organizations say that at present the minimum wage limit has been kept at Rs 18,000 which is based on the fitment factor which is 2.57 times. However, the 7th Pay Commission had recommended keeping it up to 3.68 times. Now, if the demand of the employee union is accepted, the minimum wage of the employees will increase from Rs 18 thousand to Rs 26,000 when the fitment factor is hiked up to 3.68 times.
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A Zee Hindi report also mentions that after the 7th pay commission, there might not be another new pay commission. Instead, the government may implement a system that will automatically set the pattern for increase in the salary of government employees.
The central government may come up with a new formula in deciding the pay factor of the employees. Media reports citing sources in the Finance Ministry said that the new salary hike will be based on performance linked increment. However the modalities regarding the assessment in salary calculation is not yet clear. Government is reportedly working in this direction.
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Media reports have hinted that the government is working on a formula which will automatically calculate the salary component once the Dearness Allowance goes beyond 50 percent. The new calculation –probably could be termed as Automatic Pay Revision.
