Latest pension news 7th pay commission

What is the latest position of 7th Pay Commission?

7th Pay Commission Summary

7,000. The apex positions in the government such as a cabinet secretary will bear a pay scale of Rs. 2.5 lakh as introduced in the 2018 Budget. In addition, House Rent Allowance (HRA) would rise up to 27%, 18%, and 9% respectively, if a 50% dearness allowance is implemented.

Will there be 8th Pay Commission?

According to the OneIndia portal, the government is looking forward to introducing Aykroyd formula to fix the salaries of Central Government employees. This means that the 8th Pay Commission will not see the light of the day. The new method to revise the salary of Central government employees would be periodic.

When was the last pay commission?

With the Seventh Pay Commission’s recommendations expected to take effect from January 1, 2016, their impact on the economy and the consumer market will become known in due course of time.

Is 7th Pay Commission applicable to pensioners?

As per the changed Family Pension rules, families of government employees who passed away before completing seven years of service are now entitled to receive 50 per cent of last pay drawn (7th Pay Commission Salary) for 10 years as family pension.

Which govt job has highest salary?

5 Highest Paid Government Jobs in India

  • Indian Administrative Services (IAS)
  • Public Sector Undertakings.
  • Defence Services- Navy, Army and Air Force.
  • Indian Foreign Services (IFS)
  • Indian Police Services (IPS)

How do you calculate 7 salary?

The method to calculate your salary as per the 7th CPC is simple. The salaries are obtained by multiplying the existing basic pay by a factor of 2.57 and the figure so arrived will be added to all the applicable allowances such as Transport Allowance (TA), House Rent Allowance (HRA), Medical Allowance, etc.

You might be interested:  Is a disability pension taxable

What is PM Modi salary?

Prime Minister of IndiaPrime Minister of India Bhārat ke PradhānamantrīFormation15 August 1947DeputyVacant, Deputy Prime Minister of IndiaSalary₹20 lakh (US$28,000) (annual, including ₹960,000 (US$13,000) MP’s salary)

Who gets the highest salary in the India?

Mukesh Ambani

What is PM salary in India?

Rs 2 lakh per month

What is the salary of Central Govt Employees?

5. Pay Scale for Central Government EmployeesStructureAmountPay scaleRs.29,900 to Rs.1,04,400 per monthGrade PayRs.5,400 to Rs.16,200 per month

What is the salary structure of 7th Pay Commission?

Pay Scale for Commercial Clerks or Commercial Superintendent in a nutshellPostPrevious pay7th Pay Commision pay scaleCommercial SuperintendentsRs. 6,500 to Rs.10,500 per monthRs.9,300 to Rs.34,800 per monthSenior Commercial ClerkRs.4,000 to Rs.6,000Rs.5,200 to Rs.20,200 per month

What is basic pay in central govt?

On the basis of this CPC recommendation, various allowances of the central government employees are decided for the next 10 years. Currently, as per the 7th CPC, minimum basic salary is decided at Rs 18,000 per month while for the Grade ‘A’ basic salary is fixed at Rs 56,100 per month.

How is your pension calculated?

If your Normal Pension Age is 60 your final salary benefits are: A pension calculated by multiplying your service by your average salary and then dividing by 80; and. A lump sum equal to three times your pension.

How is railway pension calculated?

50% of Last Basic Pay or 50% of last Ten Months Basic Pay average which ever is beneficial to the employee, with out reference to number of qualifying years, provided minimum 20 years of qualifying years for voluntary and 10 years for Superannuation. COMMUTATION OF PENSION: Commutation of pension is not compulsory.

Leave a Reply

Your email address will not be published. Required fields are marked *