8th Pay Commission: The government may soon give a gift to central employees and a significant gift to pensioners. It is expected that the Modi government may constitute the 8th Pay Commission soon, after which it will be reviewed and then implemented. The 8th Pay Commission is likely to be implemented by the end of the year 2026.
This will lead to a strong jump in the salary of the employees, which will prove to be like a booster dose in inflation. The term of the 7th Pay Commission will now end. Therefore, there is a lot of discussion about the implementation of the 8th Pay Commission among the employees. However, there is nothing official about the 8th Pay Commission right now. The situation is likely to become clear only after its formation.
How much will the employees’ salaries increase in the 8th Pay Commission?
After the implementation of the 8th Pay Commission, the basic salary of the employees will be increased on the basis of the fitment factor. The fitment factor is used to improvethe salary. Regarding the 7th Pay Commission, the fitment factor was fixed at 2.57.
If the minimum fitment factor, i.e. 1.92, is implemented by the government now, then the minimum salary will take a long leap by increasing by Rs 18,000. The minimum basic salary will reach Rs 34,560. If, the fitment factor is increased to 2.86, then the minimum wage will go up to Rs 51,480. This inflation increase will be like a blind man’s stick, which will do wonders.
When should the 8th Pay Commission be implemented?
There has been a tradition of implementing a new pay commission in India every ten years. The 7th Pay Commission will complete ten years on December 31, 2025. If this tradition is kept paramount, the 8th Pay Commission will be implemented on January 1, 2026. The government has announced the formation of the 8th Pay Commission, but the committee has not been formed yet.
After the committee is formed, it will take several months to review it, after which it will be implemented. About 1.16 crore employees and pensioners will benefit from this.