The news about the 08th Pay Commission is going viral everywhere and the govt job employees are excited to know the truth behind the 08th Pay Commission. If the Pay Commission is implemented, the govt job employees will see huge increments in their salaries. It is expected that the increment of 1.86 percent will be there for the govt job employees from the 08th Pay Commission.
The 08th Pay Commission will be first represented in the parliament and of the members of the parliament will pass the 08th Pay Commission, the employees who are getting Rs 18000 as basic pay will then receive Rs 51480 as the basic pay. This is a huge increment for the govt job employees and the govt job employees have been waiting for the 08th Pay Commission for a long time. Let’s discuss the topic in detail below.
The Existing Payment Plan and Anticipated Modifications
The current payment plan is the 07th Pay Commission. The employees are getting 158% enhanced salaries through the 07th Pay Commission as compared to the 06th Pay Commission. In the 08th Pay Commission, the proposed fitment factor is 2.86 and the previous fitment factor of the 07th Pay Commission was 2.57.
This will be huge as compared to the 07th Pay Commission, the govt job employees will receive triple salary if the 08th Pay Commission is implemented in the future.
Impact on Pensions
The plan is to increase the fitment factor, the increment in the fitment factor not only affects the govt job employees but the pension of the retired employees will also increase. The people who are getting a pension of Rs 9000 will get a new pension of Rs 25700 with the implementation of the 08th Pay Commission. The increment in pension with the 08th Pay Commission will be 186%. The govt job employees and retired people both get increments if the 08th Pay Commission is implemented.
Possible Announcement in 2025 Budget
Currently, there are rumors of the implementation of the 08th Pay Commission. The govt has not given any official statement about the implementation of the 08th Pay Commission. Although the news of the 08th Pay Commission is viral. The people can get the news of the 08th Pay Commission in the upcoming budget of 2025- 26.
The govt may announce the implementation of the 08th Pay Commission in the Union Budget in 2025. The employee unions have already discussed the matter of the 08th Pay Commission and they are having a meeting in this regard with the Cabinet members. The meeting is also going on with the Finance Minister regarding the 08th Pay Commission. The results of the meetings for the 08th Pay Commission will be announced next year.
History of Pay Commissions
The govt has made the rule that the salaries of the govt employees will be regulated by the Pay Commission and the Pay Commission should be implemented after 10 years as the govt job employees also deserve a salary increase because inflation rises in one decade.
We saw the 07th Pay Commission in Feb 2014 and now almost 10 years have passed. The recommendations are from every sector to implement the 08th Pay Commission in 2024 or 2025. The 07th Pay Commission was effective from 01 Jan 2016. At that time, the govt employees were provided with an increase in salary of Rs 7000 to RS 18000 per month.
All of the govt job employees and retired persons are hoping for the 08th Pay Commission. It is necessary to regulate the wages of the govt job employees as it is almost 10 years since the 07th Pay Commission. We hope that the govt will announce the official announcement for the 08th Pay Commission in the upcoming budget.