If you are an employee then this news is for you. Actually a latest update is coming out from the government for the employees. Under which it is being said that now the government will increase the salary with this formula. Let us know about this formula in the news below.
Central government employees are getting the benefit of salary components under the 7th Pay Commission. The biggest benefit they get in the form of Dearness allowance. But, the Central Government (Modi Government) can soon give a big update to the government employees. A new formula may come for them to increase their salary.
The government is working on the new system-
Speaking on the Pay Commission in July 2016 itself, former Finance Minister Arun Jaitley had said – now there should be a new scale to increase the salary of the employees apart from the Pay Commission. According to sources in the Finance Ministry, the government is no longer in favor of bringing a new pay commission for central employees. The government is working on such a system so that the salary of the employees increases on the basis of their performance (Performance linked increment).
Next pay commission will not come
According to the sources, after the 7th pay commission, now it is difficult for the next pay commission to come. According to the information received by Zee Business, the government is working in this direction to make such a system for 68 lakh central employees and 52 lakh pensioners, in which there will be automatic revision in salary if DA is more than 50 percent.
For this, an ‘automatic pay revision system’ can be made. At the same time, the employees also believe that considering the current inflation rate, it will be difficult for them to live with the recommendations for salary hike since 2016. However, a final decision on this is yet to be taken by the government.
Which employees will benefit?
According to a Finance Ministry official, Arun Jaitley wanted that there should be an increase in the salary of middle level employees as well as low level employees.
According to the official, given the long-standing trend of income polarization after the new formula and the shrinking middle tier in central government departments, it appears that broad mid-level employees There will not be much increase in the level of But, low level employees can see the benefit in this.
How much benefit will you get?
The minimum salary of a central employee with pay level matrix 1 to 5 can be between 21 thousand. The Narendra Modi government is not in favor of the next pay commission. If we see the trend of Pay Commission, it is implemented every 8-10 years. But, this time it can be changed and new formula can be implemented in the year 2024. According to the government employees, the salary should be about three times. The increase in the 7th Pay Commission was the least.
Fitment factor will not increase
For the last few days, there are reports in the media that the government may soon increase the fitment factor of central employees. But, according to sources, there will be no increase in the fitment factor in the year 2022. At present, the government is not in favor of increasing the fitment factor.
Due to Covid (Covid-19) and Inflation, this additional financial burden can worsen the situation. If sources are to be believed, now the decision on the fitment factor will also be taken only when a new formula for increasing the salary is brought. Before that it is difficult to make any kind of speculation. The government is constantly working on making such a formula, which keeps on increasing the salary from time to time.
