<p>The central government has officially formed the 8th Pay Commission. This will have a direct impact on the financial situation of millions of families. Let’s look at this update in detail.</p><img><p>The government has formed the 8th Pay Commission, a major update for millions of employees and pensioners. It will review salaries and benefits, submitting its report in 18 months.</p><img><p>The focus this time is on a performance-based salary plan. Pay may be adjusted based on performance, rewarding hardworking employees. The goal is to make government jobs more appealing.</p><img><p>Retired SC Justice Ranjana Prakash Desai heads the 3-member committee. Pulak Ghosh and Pankaj Jain are also members. The headquarters will be in Delhi, with options for external expert advice.</p><img><p>The Pay Commission’s scope includes defense forces, All India Services, and UT staff, not just central employees. Bonus plans, allowances, and unnecessary benefits will be reviewed.</p><img><p>Pensions and gratuity are a key focus. Rules for NPS and the old pension scheme will be reviewed. Recommendations will consider the economy. Employees hope for a fitment factor hike.</p>
