7th Pay Commission: Rising inflation is one issue that has put the employees on their knees demanding better living wages—because of this, the government says that there will be a new formula for salary increments established soon. Employees under the new formula will hopefully have an increment in their salaries according to inflation as per the issue of basic salary increase.
What is being shared is that a new formula is going to be introduced that will apply in place of the 8th Pay Commission. In the new formula, apart from the incrementation of salaries, there is also going to be a yearly increment fixed. Let us have a detailed understanding of it.
Salary Will Increase Every Year
There is good news for central employees. Let us remind you that the 7th Pay Commission was introduced in 2016, and this would mean that there has been no increase in salary for the government employees for quite long. The new system is going to further add fixed amounts to the salaries of employees over the years. For your information, let us tell you that currently all this information has been known by sources; no official announcement has yet been made regarding it, while let us tell you that this new formula is being considered by the government and the Pay Commission.
The New Formula Will Work Like This
The new salary formula is for the benefit of government employees. Under it, the amount of increase in salary every year will depend on the productivity of the employee and the rate of inflation. Some experts were saying that some further improvement would be made in this formula and then the formula would be implemented.
All Employees Will Get Benefits
The new formula of the 7th Pay Commission has been earmarked by the government for equalizing the salary increment of all the categories of government employees, as so much difference is still existing according to grade pay under this new formula. According to a very reputable media report, everything has been prepared about how to bring this new formula to the government for enhancing the lifestyles of employees.
Also Read: New Pension Rules Will Be Implemented In The New Year, See Details…
