Workers nationwide are anticipating the release of the eighth pay commission. The central employees can receive excellent news from the central government. The government may soon introduce the Eighth Pay Commission following the Seventh Pay Commission, according to our sister website Zed Business. No formal announcement has been made as of yet. There are rumors in the media that talks on creating a new pay commission have begun.
Moving forward
Zed Business reports that there is a protest in Delhi by workers and retirees over the 8th Pay Commission. Workers are asking the Pay Commission for clarification for the second time in a month. If the government takes a position on this, the minimum wage may rise significantly.
In 2024, there will be elections.
In 2024, elections are scheduled all around the nation. In a scenario like this, the government may also talk about setting new employee salaries. The government hasn’t made any public announcements in this regard as of yet. According to reliable sources, the government believes that there is no need to create a panel for compensation commissions. A new salary revision formula should be developed in addition to this.
Established in 2024
Sources state that the 8th Pay Commission will be established in 2024. It must then be put into action within around a year and a half. Experts predict that central employees’ salaries will rise dramatically with the implementation of the Eighth Pay Commission. In addition, there can be modifications to the fitting factor.
The base pay of central employees may rise by 44.44 percent.
Central staff will participate in a lottery following the adoption of the Eighth Pay Commission. In addition, employees’ fitting factor will rise to almost 3.68 times. Media estimates state that employees’ base pay could rise by roughly 44.44 percent.
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