With the 7th Pay Commission being the last, a new formula would be in place from next year to review salaries of government employees. The Finance Ministry has made it clear that there would be no further pay commissions. The government took into consideration that the government should review salaries of government employees periodically instead of setting up a pay commission and waiting for ten years.
How will government employee salaries be reviewed?
The salaries of the central government employees will be reviewed periodically. It would not take ten long years to wait for a pay increase or revision in allowances or HRA. The government would review the salary looking into the data available and also based on the price index.
The Aykroryd formula
The government will take into consideration the Aykroyd formula while reviewing salaries of government employees. This formula would take into consideration the change in prices of the commodities that constitute a common man's basket.
No more waiting ten years
The central government employees will not have to wait ten long years for a pay hike. With then government deciding to scrap pay commissions, it will not have to wait ten years to set up one.
Pay hike every year
There is every chance that the government employees may get a pay hike every year. The revision of salaries would depend on inflation every year. This would be applicable to the pension factor as well. Will the decision to make the 7th Pay Commission be the last make central government happy? Time will tell.
Read at:http://www.oneindia.com/india/7th-pay-commission-is-the-last-pay-hikes-yearly-for-central-government-employees/articlecontent-pf29555-2509372.html
Popular
Label List
- -BONUS ORDER
- 'BONUS
- AICPIN
- AIDEF
- AIR INDIA
- AIRF
- AITUC
- ALLOWANCE
- annual increment
- ARMY
- BANK EMPLOYEES
- BSNL
- cadre restructuring
- cadre review
- CBSE
- cgda
- CGHS
- CHILD CARE LEAVE
- children education allowance
- CONFEDERATION
- DA
- DC JCM
- DEARNESS ALLOWANCE
- dearness relief
- DOPT
- EMPLOYEES PROVIDENT FUND
- EPFO
- FAMILY PENSION
- finmin
- FIXED MEDICAL ALLOWANCE
- GDS
- GENERAL PROVIDENT FUND
- GPF
- GRADE PAY
- HOLIDAY
- HOLIDAY HOMES
- HOUSE BUILDING ADVANCE
- HOUSE RENT ALLOWANCE
- HRA
- INCOMETAX
- JCM
- JCM III
- KENDRIYA VIDYALAYA
- LEAVE TRAVEL CONCESSION
- LTC
- LTC 80 FARE
- LTC ADVANCE
- MACP
- MATERNITY LEAVE
- MAY DAY
- MINISTRY OF DEFENCE
- MINISTRY OF FINANCE
- MODIFIED ASSURED CAREER PROGRESSION
- NATIONAL ANOMALY COMMITTEE
- NATIONAL PENSION SCHEME
- NATIONAL PENSION SYSTEM
- NC JCM
- NEW PENSION SCHEME
- NIGHT DUTY ALLOWANCE
- NJCA
- OFB
- one rank one pension
- ONE RANK ONE PENSION.
- ORDINANCE FACTORY BOARD
- paternity leave
- pay fixation
- PCDA
- PENSION
- post offices
- POSTAL EMPLOYEES
- RAILWAY BOARD
- RAILWAY BONUS
- RAILWAY EMPLOYEES
- retirement
- retirement age
- revision of pension
- VRS
- WOMEN EMPLOYEES
Follow by Email
DISCLAIMER
The contents and information given in this blog are purely informative in nature and should not under any circumstances be taken as authority. All efforts had been made to ensure accuracy of the content on this (www.centralgovernmentemployees.com) blog. The same should not be construed as a statement of law or used for any legal purposes. centralgovernmentemployees.com accepts no responsibility in relation to the accuracy, completeness or otherwise, of the contents. Users are advised to verify/check any information with the relevant departments and to obtain any appropriate professional advice before acting on the information provided in the blog. We cannot guarantee the availability linked pages at all times.
Post a Comment