7th Pay Commission Latest News Today 2022
7th pay commission latest news today 2022 info :
People always wonder just like why it is always in the news. It is because the allowances and hikes should be approved by it. Then only an individual can get those allowances in their service period. Sometimes it delays in action making them be awaited for some period. This causes unrest among working employees. Many protests have been carried out by the ones who did not receive promissory hikes in their salaries. Also by pensioners who did not get their pensions revised. Let us understand from the government's point of view. One reason for this delay is the hike in salary will lead to a financial crisis in the economy. Approximately 1-2 lakh crores will be required to implement the changes. Also, the basic pay has been increased to Rs.18000/-. Initially, it was just confined to Rs.7000/-. In contrast, the government employees demand a rise of Rs.26000/- instead. Most of the recruitment notifications contain provided pay in form of a salary pay structure. It's quite complex to understand. But we have offered overall information in this blog. We will help you understand the expected salary from the salary structure.
What is CPC (central pay commission) :
A pay commission is referred to as CPC. It is a commission which looks after the payments of government employees. CPC has the power to decide the basic pay according to their respective departments. This pay commission recommends various salaries to various government employees. The first pay commission was introduced in 1956. And they formed the most recent pay commission in 2014. That is the 7th pay commission. Current payment decisions were made by this 7th CPC. It was headed by Justice A.K Mathur and guided by the Indian government.
Latest position of 7th pay commission :
These are the significant recommendations under the current 7th pay commission. All the following aspects state the position of the 7th pay commission. Just with new modifications up to some extent. Applicable to every government employee who is in service period. Along with specified benefits to the pensioners.
It subsumed all existing levels in the new structure.
Minimum pay hike.
Implementation of fitment factor of 2.57.
Annual increment kept at 3%.
Improvements in defence personnel.
No hike is provided for a monthly contribution towards CGEGIS.
Implemented committee for NPS.
Increase in the benefit of house building advancements.
About basic pay in the 7th CPC :
Most people were curious about CPCs' decision on basic pay in 2022. Basic pay refers to the monetary sum provided for the work done. This basic pay differs from one to another based on the levels of the pay matrix. As we all know that a hike of 6840 to 27312 has been implemented in basic pay per annum. There are 18 levels in the pay matrix. Designed with various pay ranges to various levels. Along with different pay bands. It mostly ranges between 5200 to 20200. This means the provided salary will be calculated as a sum of pay, grade pay and other allowances. The allowances include DA, MA, HBA and LTC. For example, if we take the basic pay as 5500. And provided grade pay as 2000. And they will add the provided basic salary of 26000 as a total.
Is the 7th pay commission bill passed?
Most people raised this doubt. As it is a known fact that the 7th pay commission bill has passed. It came up with new modifications as mentioned above. The CPC will come up with a few additions every six months. In order to meet government employees' expectations. And also maintaining the nation’s economic stability. It brought changes in basic provided pay. As a result of agitations and arguments by the employees working under government departments. This bill was approved by justice A.K Mathur.
7th pay commission latest news for pensioners :
There has been a question that's being asked more frequently. Whether they updated any benefits for pensioners in the 7th pay commission news. The government passed the statements about the hike in fitment factor recently. This factor would automatically increase the monetary sum provided to the person. It benefits both the serving employees and pensioners as well. This statement has become a major relief to most pensioners. One who has waited for good news from the government. This amendment got approval from the finance minister. He assured of the rise in fitment factor resulting in an increment of basic pay.
This information covers about 7th pay commission's latest news today 2022. Now you got to know about the latest updates regarding basic pay, allowances and CPC-related matters. Will update you soon with more information on related content. Do follow our page for more informative content on government employees and their policies. Thank you.