Central Government employees could get 7th Pay Commission salary from 1st August 2016
7th Pay Commission payout, here’s when you may begin to get the money
The long wait of central
government employees for the 7th Pay Commission payout may end soon with
the government working on the possibility of starting to credit their
accounts as per the proposed new pay scales from August 1, 2016.
The long wait of central
government employees for the 7th Pay Commission payout may end soon with
the government working on the possibility of starting to credit their
accounts as per the proposed new pay scales from August 1, 2016.
“Central government employees
could get the revised pay-scales with their July salaries that would be
credited on August 1,” sources close to officials working on the
implementation of the 7th Pay Commission report told FeMoney.
However, while there are
indications that arrears would also be credited along with revised pay,
it is not clear whether the past dues according to the Commission’s
report would be given at one go or in instalments.
The exact position is likely to
be clear after the meeting of the 7th Pay Commission committee, headed
by Cabinet Secretary P K Sinha, on June 11 to decide the final contours
of the payout plan.
The 7th Pay Commission
recommendation, which will come into effect with retrospective effect
from January 1, 2016, will result in higher pay package of 47 lakh
central government employees and 53 lakh pensioners.
The Commission has recommended a
23.55 per cent hike in pay and allowance. While pay will go up by 16
per cent, increase in allowance will be 63 per cent and increase in
pension 24 per cent.
According to reports, the
Empowered Committee of Secretaries under Cabinet Secretary Sinha has
recommended a wage hike of Rs 21,000 and Rs 2.7 lakh for the lower and
upper level, respectively. This works out to Rs 3,000 more at the lower
end and Rs 20,000 more for the upper level than what the 7th Pay
Commission prescribed.
The impact the 7th Pay
Commission recommendations will be to the tune of Rs 1.02 lakh crore on
the government’s exchequer, with the break-up being Rs 73,650 crore on
the Union Budget and Rs 28,450 crore on the Railway Budget.
Source : http://www.financialexpress.com/
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