8th Pay Commission Latest Updates: Central employees are now waiting for the next gift, about which various types of discussions are also going on. Now, the deadline of the Seventh Pay Commission is about to end. In such a situation, the employees are hopeful that the 8th Pay Commission will be implemented soon. It is being speculated that the government may delay the implementation of the 8th Pay Commission.
On the other hand, there is a possibility of a bumper salary hike as soon as the new pay commission is implemented. According to a media report, as soon as the recommendations of the 8th Pay Commission are implemented, the salary can be increased by 30 to 34 per cent. It is believed that more than 1 crore employees and pensioners can benefit from this. However, nothing has been said officially yet.
By when is the formation possible?
The amazing thing is that the government had approved the formation of the 8th Pay Commission in January, but its committee has not been determined yet. This has caused a lot of disappointment among the employees. Central employees are waiting for the formation of their new pay commission. The review work will start only after its formation.
Therefore, it may take a long time to implement the 8th Pay Commission. In such a situation, you have to know how much the salary will increase whenever the 8th Pay Commission is implemented. We have tried to give information to the employees by doing the calculation below.
How much will the salary increase?
The fitment factor is a multiple, based on which the salary is increased. In the 7th Pay Commission, the fitment factor was kept at 2.57. A report suggests that after the 8th Pay Commission, the fitment factor can be between 1.83 to 2.46. In such a situation, the current basic salary of the employee is Rs 18,000. If the new fitment factor becomes 2.46, then the new salary will be up to Rs 44,280; the rest of the benefits will start getting gradually.
UPS also implemented
UPS has also been implemented for central government employees, where you can switch from NPS to UPS. Central government employees have been given the option to join both UPS and NPS. Employees can register their names in any scheme at their level.