The eyes of central employees and pensioners are now fixed on the 8th Pay Commission. There is hope among the employees regarding the new Pay Commission that it may see a big change in the salary, allowances and pension system.
Although all the recommendations and final figures have not been released by the government yet, the discussion regarding possible changes is intense.
1. Expectation of increase in basic salary
The biggest change in the new pay commission may be in the basic salary of the employees. The new salary is likely to be decided on the basis of fitment factor.
Due to which the salaries of the employees may increase.
2. Big decision will be taken on fitment factor
In the 7th Pay Commission, the fitment factor was kept at 2.57. Now the most important issue remains what will be the fitment factor in the 8th Pay Commission. On this basis, the new salary structure of the employees will be decided.
3. Change in Dearness Allowance (DA)
There may also be changes regarding dearness allowance at the time of implementation of the new pay commission. Usually, further calculations are started by including DA in the new salary structure.
4. Amendment in HRA and other allowances
Changes are also expected in House Rent Allowance (HRA), Traveling Allowance (TA) and other facilities. The allowances may be reviewed as per the new pay structure.
5. Pensioners may get relief
The 8th Pay Commission may also impact pension receiving employees. Lakhs of pensioners are expected to benefit from the change in pension calculation.
6. There may be improvement in the salary matrix
The pay matrix can be changed according to different levels of employees. With this, the difference in salary of employees working on different posts can be determined in a better way.
7. Improvement in facilities of government employees
There is a possibility of changes in many features in the new pay commission keeping in mind the current needs of the employees. This can further improve the economic security of the job.
8. Lakhs of employees will get benefits
The 8th Pay Commission will impact lakhs of central government employees and pensioners. Along with the salary increase, this is expected to increase the purchasing power of the employees. However, the final decision will be clear only after the recommendations of the commission and official announcement by the government.