Prime Minister Narendra Modi approved the formation of the 8th Pay Commission in January this year. It is planned to be implemented from January 1, 2026. But it may take a long time. Till now, neither the chairman of the 8th Pay Commission has been appointed nor the members have been selected. In this situation, it is believed that the 8th Pay Commission may be delayed till 2028. Here we will see whether the 8th Pay Commission will also be applicable to employees of government banks or not.
The Pay Commission is applicable to all employees of the central government. After the 8th Pay Commission is implemented, the salary of employees working in all central government departments will increase. Along with this, the pension of retired central government employees will also increase.
According to Clear Tax, the 8th Pay Commission will not apply to bank employees. This is because the salary of bank employees is revised under the agreements of the Indian Bank Association (IBA). That is why government bank employees are not covered under the Pay Commission.
Why is the notification of the 8th Pay Commission still pending?
After the approval of the 8th Pay Commission, lakhs of central government employees and pensioners are waiting for its implementation. On August 12, in reply to a question in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said that the notification is still pending. This is because suggestions on the Terms of Reference are being collected from different ministries and states, and they are still coming in.
The chairman of the commission will be appointed only after the notification is issued. The minister also said that letters were sent to the Ministry of Defence, Ministry of Home Affairs, Department of Personnel and Training, and all states on 17 January and 17 February 2025 asking for suggestions. The notification will not be issued until all inputs are received. The government has assured that it will be issued at the “right time.” The chairman and other members will also be appointed only after the notification is released.