Sunday , November 24 2024

8th Pay Commission: Good news for employees and pensioners! Latest update on 8th Pay Commission, know how much salary will increase after implementation? | News India

8th Pay Commission: After the implementation of Unified Pension Scheme (UPS), there is another good news for central employees and pensioners. According to media reports, the Modi government has started preparing for the 8th Pay Commission before 2026 and a big decision can be taken on this by the end of the year. If the new pay commission is implemented, the salary can increase by 44.44 percent.

Actually, usually the central government constitutes a pay commission every 10 years to revise the salaries of government employees. The 7th Pay Commission was constituted in February 2014, however its recommendations were implemented from 1 January 2016, whose time is going to end on 31 December 2025, on this basis the 8th Pay Commission is to be implemented in January 2026, due to which the stir has intensified from now on.

How much will be the salary increase due to 8th Pay Commission?

According to the latest media report, the central government is preparing to form the 8th Pay Commission. It is likely that the commission can be formed in 2025, whose recommendations are likely to be implemented from 2026, as the recommendations of the 7th Pay Commission were implemented in 2016. If the Modi government implements the 8th Pay Commission in 2025-26 as per the 10-year pattern, then it can lead to a huge increase in salary. More than one crore government employees and pensioners will benefit from this.

It is estimated that there could be a potential increase of up to 34% in the salary of Level 1 employees and up to 100% in the salary of Level 18 employees. The salary of Level 1 could reach Rs 34,560 and the salary of Level 18 could reach Rs 4.8 lakh, with a fitment factor of 1.92. The pension amount of pensioners under the Unified Pension Scheme (UPS) will also increase.

The pension under UPS will be fixed at 50 per cent of the average monthly salary of the 12 months preceding retirement. Assuming a 50 per cent pension formula and a 20 per cent hike in dearness allowance (DA) by 2029, a Level 1 employee can get a pension of around Rs 20,736.

Till now many employee organizations had sent proposals

It is worth noting that in the past few months, many employee organizations have written several letters to the Center regarding the 8th Pay Commission. During the budget session, various employee organizations including the Employees Federation, National Joint Advisory Machinery Council and Indian Railway Technical Supervisor Association had written a letter to the Central Government demanding the implementation of the Eighth Pay Commission.

Employees were hoping that Finance Minister Nirmala Sitharaman could make a big announcement on this in the budget, but this did not happen. Recently, during the monsoon session, Rajya Sabha MPs Ramjilal Suman and Javed Ali Khan had raised questions about this. On this, Minister of State for Finance Pankaj Chaudhary had said that at present there is no proposal before the Central Government for consideration on the 8th Finance Commission, the government has received only 2 memorandums, so there is no thought about its formation.