Good news awaits central government employees. Salaries and pensions of government employees could see a boost of up to 92%.
26
8th Pay Commission
Salaries are expected to increase significantly. The Union Cabinet approved the 8th Pay Commission for central government employee salary revision.
36
Fitment factor
Naturally, there is a joyful atmosphere among everyone. According to several media reports, the National Council Joint Consultative Machinery (NC-JCM) has demanded a fitment factor of at least 2.57 (equal to the 7th Pay Commission) or more from the government.
The 7th Pay Commission also used a 2.57 fitment factor, which increased central employees' salaries and pensions by 157%, raising the minimum wage from 7,000 to 18,000 rupees.
56
Latest updates
The question is, if the government implements this fitment factor again in the 8th Pay Commission, how much will the salary of employees currently earning 18,000 rupees increase?
66
Minimum wage to increase
If the government accepts the demand, the current minimum wage will increase from 18,000 rupees to 46,260 rupees per month. Also, the minimum pension of 9,000 rupees per month will increase to 23,130 rupees.
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.
