Dear Comrades,
To Download report of the Seventh Central Pay Commission Please Click Here.
The pay commission has suggested a minimum salary of Rs 18,000 per month and maximum of Rs 2.25 lakh a month for apex scale. Cabinet secretary will get a salary of Rs 2.5 lakh a month.
The overall increase in salary, allowances and pensions is 23.55%. The increase in pay is 16%, allowances will be higher by 63% while pensions will rise 24%.
The system of grade pay and pay bands has been abolished.
Main points of the pay panel report:
1.Total financial implication to be Rs 1,02,100 cr in FY 2016-17
2. Pay commission recommends new pay matrix, dismantles band structure
3. Max pay recommended at Rs 2,25,000 per month for apex scale and Rs 2,50,000 for cab secy
4. Pay commission for HRA increase by 138.71%
5. Pay commission recommends increase in pensions by 23.63%
6. Pay Commission recommends consolidated pay package of Rs 4.5 lakh and 4 lakh per month for chairperson and members of select regulatory bodies
7. Recommends Performance Related pay (PRP) for central government employees
8. Commission recommends that government in consultation with Pension Regulator to come up with different options for investment mix in National Pension System and provide subscribers a range of option
9. Commission recommends Exempt Exempt Exempt (EEE) status for NPS to be at par with other pension schemes
10. Commission recommends setting up an ombudsman for redressing individual grievances relating to NPS
11. Commission recommends fully funded one year executive programme or a M tech programme at premier institutes for short service commissioned officers
Source:-The Economic Times
Main points of the pay panel report:
1.Total financial implication to be Rs 1,02,100 cr in FY 2016-17
2. Pay commission recommends new pay matrix, dismantles band structure
3. Max pay recommended at Rs 2,25,000 per month for apex scale and Rs 2,50,000 for cab secy
4. Pay commission for HRA increase by 138.71%
5. Pay commission recommends increase in pensions by 23.63%
6. Pay Commission recommends consolidated pay package of Rs 4.5 lakh and 4 lakh per month for chairperson and members of select regulatory bodies
7. Recommends Performance Related pay (PRP) for central government employees
8. Commission recommends that government in consultation with Pension Regulator to come up with different options for investment mix in National Pension System and provide subscribers a range of option
9. Commission recommends Exempt Exempt Exempt (EEE) status for NPS to be at par with other pension schemes
10. Commission recommends setting up an ombudsman for redressing individual grievances relating to NPS
11. Commission recommends fully funded one year executive programme or a M tech programme at premier institutes for short service commissioned officers
Source:-The Economic Times
