8th CPC Automatic Pay Revision System
8th Pay Commission Latest News Today
The salary of the employees will increase in accordance with their performance-linked increment following the implementation of this new formula.
The sources claim that when the 7th Pay Commission ends, there won’t be an 8th Pay Commission. The Central Government is getting ready to introduce a new formula to raise employee salaries.
The Central Government is putting together a methodology for employees and pensioners that will automatically raise salaries and pensions if the Dearness Allowance is greater than 50%. With the introduction of this new formula, the government hopes to periodically raise employee salaries.
8th CPC Automatic Pay Revision System – The remuneration of the employees will increase in accordance with their performance-linked increment following the implementation of this new formula. Employees’ unions are not pleased with the central government’s decision at the moment.
Arun Jaitley, a former finance minister, had also made a similar statement in July 2016. He had stated during a speech in Parliament that one should now consider the employees rather than the Pay Commission. Both middle-level and low-level employees should have higher remuneration, according to Arun Jaitley.
In addition, Justice Mathur had stated that they wanted to change the pay structure to the new formula at the time of the 7th Pay Commission’s recommendations (Aykroyd Formula). The cost of living is taken into consideration when determining the pay using this formula. It is imperative that employees receive pay that is commensurate with inflation.
Lower-level employees are expected to benefit a lot from this. A central employee at level matrix 1 to level 5 can earn a base salary of at least 21,000 thousands. The exact formula for this hasn’t yet been developed, though. The next pay commission is opposed by the current Govt administration.
Via krishijagran.com
