7th Pay Commission (Salary of central employees will increase with this new formula): Good news can be found for central government employees in the coming days. If sources are to be believed, then a new formula will be ready for salary increase in the next Pay Commission (8th Pay Commission).
Apart from the increasing salary due to fitment factor, the new formula can be considered. Recently, the Central Government has given 18 months to the employees. Has refused to give DA arrear . The new discussion may bring some relief to the employees. However, the new formula is likely to be implemented after 2024.
Basic salary will be fixed every year
The recommendations of the 7th Pay Commission were implemented in 2016. 5 years have passed since that time. According to sources, the Central Employees Salary will be fixed every year with a new formula in the 8th Pay Commission to decide the salary of the central employees. However, there has been no confirmation from the government in this matter.
Sources believe that now the time has come when in addition to pay commission , the formula for increasing the salary should be considered. The cost of living is continuously increasing. In such a situation, increasing the salary of the employees every year would be a better option.
What is the new formula that is being discussed?
Aykroyd formula can be considered for increase in salary of central employees . This new formula is being discussed for a long time. Actually, at present, the minimum basic salary of government employees is fixed on the basis of fitment factor. On this dearness allowance is reviewed every six months. But, there is no increase in the basic pay. According to experts, with the new formula, the salary of the employees will be linked to the inflation rate, cost of living and the performance of the employee. After assessing all these things, there will be an increase in salary every year. It will be just like it happens in private sector companies.
Why can a new formula be created?
The focus of the government is that all categories of employees should get equal benefits. Right now there is a big difference in everyone’s salary in terms of grade-pay. However, with the introduction of a new formula, an attempt can be made to bridge this gap. There are currently 14 pay grades in government departments. Each pay grade includes employee to officer. But there is a huge difference in their salary. An official of the Finance Ministry said that the aim of the government is to improve the standard of living of the central employees. The suggestion of a new formula is good, but no such formula has been discussed so far. It is too early to say what will happen in the 8th Pay Commission
Salary will increase due to inflation of food and clothes
These days inflation is increasing continuously. But, the increase in salary is much less than that. Justice Mathur had indicated at the time of the recommendations of the 7th Pay Commission that we want to move the pay structure to the new formula (Aykroyd formula). The salary is fixed keeping in mind the cost of living in it. The need of the hour is to pay salaries to the employees as against inflation. Let us tell you, the Aykroyd formula was given by the author Wallace Rudel Aykroyd. He believed that food and clothes are most important for the common man. With the increase in their value, the salary of the employees should increase.
Salary increased due to fitment factor in 7th Pay Commission
Under the 7th Pay Commission , the central government revised the minimum wage of the employees from the fitment factor. In this, the basic pay at pay grade 3 was increased from Rs 7,000 to Rs 18,000. Justice Mathur had said in the recommendation that the government should review the salaries of central employees every year as per the Consumer Price Index.
