7th Pay Commission 2016
Dear applicants are you looking for 7th Pay Commission 2016 woww, god news for you recently Finance Minister Arun Jaitley’s in his press conference has declared 7th Pay Commission 2016 Latest News & Pay Scale Chart, you can check through below given details . Please have a look on complete details and you may also download 7th Pay Commission 2016 from here.
Union cabinet on Wednesday accepted the recommendations of the 7th Pay Commission, giving a large raise to the salaries and pensions of central government employees. Pay panel had in November last year recommended 14.27 per cent hike in basic pay at junior levels, the lowest in 70 years. The previous 6th Pay Commission had recommended a 20 per cent hike which the government doubled while implementing it in 2008.
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Check the highlights from Finance Minister Arun Jaitley’s in his press conference
- Minimum pay of Rs 18,000 has been recommended against the existing Rs 7,000 per month
- Rs 2,25,000 per month is the maximum pay for apex scale and Rs 2,50,000 per month for Cabinet Secretary and others presently at the same pay level
- The total financial impact in the FY 2016-17 is likely to be 1,02,100 crore
- Gratuity has been increased from 10 lakh to 20 lakh
- Based on the minimum pay, a fitment factor of 2.57 is being proposed to be applied uniformly for all employees
- The rate of annual increment is being retained at 3 per cent
- The commission has recommended abolishing 52 allowances altogehter
- Another 36 allowances have been abolished as separate identities, but subsumed either in an existing allowance or in newly proposed allowances
- Two dates of increments in place of existing one – 1st Janunary and 1st July
- Ex-gratia lump sum compensation and military service pay increased
- Existing rates of monthly contribution towards Group Insurance to continue
- Grade Pay & Pay Band structure to be replaced by Pay Matrix, comprising 19 Levels
- Total annual burden of pay, pensions and arrears of 7th Pay Commission recommendations stands at Rs 1,02,100 crore
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