8th Pay Commission Update: Central employees are now waiting in expectancy for the formation of the new pay commission following the approval. Quickly, Chairman and two members will be preselected for the formation of the pay commission. As soon as the implementation of the Eighth Pay Commission takes place, a whopping increase of 40-50 percent is going to occur for the salary of all central employees.
There is a new pay commission almost every ten years. The current Seventh Pay Commission is also being phased out after this year; much chatter on the Eighth Pay Commission is going on. This new commission will result in a bumper increase in the salary and pension of millions of employees and pensioners. So we will inform you by news when this new pay commission (salary calculation 8th CPC) is formed and when the actual implementation of the 8th Pay Commission begins.
When Will Be Setup The Eighth Pay Commission
With each subsequent day, the excitement of the central government employees regarding these new pay commissions is rising. As per the information available, the government will begin the process of formation of the commission sometime in the month of April wherein a chairman and two members will be determined for the formation. The fitment factor regarding this new pay commission is all that central employees have on their mind, as only that will increase their pay and pension. Let us just say that all new pay commissions provide not just for salary (salary hike in the 8th Pay Commission) and pension, but allowances and facilities given to the employees prior to the pay commission are also an important part of the whole structure.
There Can Be Big Changes Regarding Allowances
As per the sources, it is being told that similar as the 7th pay commission, this new pay commission may abolish old and irrelevant allowances. They are thinking of adding allowances (new allowances in 8th CPC) in this eighth pay commission.
How Many Allowances Are Included In The 7th Pay Commission
The seventh pay commission as such was implemented on 1 January 2016 under the tenure of the Prime Minister Manmohan Singh government. In the commission evaluation of the allowances, 196 allowances for the review were done, out of which only 95 were approved during the tenure of Prime Minister Manmohan Singh and the remaining 101 allowances were abolished, out of which some allowances were completely abolished and some allowances merged with other allowances. Along with this, fitment factor has been made as 2.57 in the commission, the minimum salary of employees increased from Rs 9000 per month to Rs 18,000 per month.
Know What Is The Fitment Factor
Now there is a demand for increasing the fitment factor. At present, salary and pension of the central employees are being computed with the fitment factor of 2.57. Actually, fitment factor is a multiplier used in calculating minimum basic pay with respect to central government employees and pensioners. Whenever a new pay commission is put into effect, every pay commission amends its fitment factor.
When Will The 8th Pay Commission Be Implemented
So far, the government has announced only the approval of the new pay commission but work regarding it has not yet started. It is being heard that some announcement about the formation of the 8th Pay Commission might be heard by April 2025. It is anticipated that it would take almost one year for the newly constituted pay commission to present its recommendations. The commission shall consult with the representatives of central employees and others in the public eye to finalize the recommendations, and afterward, the new pay commission would be implemented.
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