8th Pay Commission: Since the formation of the 8th Pay Commission, a lot of agitation is being seen among the employees. While employee organizations have certain expectations from the Pay Commission, pensioners also have different expectations. After the demands of the employee organizations, now the pensioners’ organizations have also demanded changes in the pension structure from this Pay Commission. Now pensioners want that they should get increased pension as per their age.

Pension should be according to age
In the 8th Pay Commission, everyone from employees to pensioners have put forth their demands. Some have demanded increase in DA, some have demanded salary revision and some have demanded pension benefits. Apart from the demand of the employees, pension organizations are also demanding that retired employees should be given pension according to their age. The higher the age, the more he will get the same percentage of his salary during retirement as pension. It has been demanded to keep this structure as follows:

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• A 65 year old retired employee should get 70% of his last salary as pension.
• A 70 year old retired employee should get 75% of his last salary as pension.
• A 75 year old retired employee should get 80% of his last salary as pension.
• An 80 year old retired employee should get 85% of his last salary as pension.
• An 85 year old retired employee should get 90% of his last salary as pension.
• Retired employees aged 90 years or above should get their last salary in the form of full 100% pension.

Not only this, the employees have also put forth their demands regarding pension. In which:

• Increasing the minimum pension to 67% of the last drawn pay (LPD), or equal to the average pay drawn during the last 10 months of service.
• To amend the fitment factor used for pension calculation.
• To review the Dearness Relief (DR) structure and integrate it into pension benefits.
• To expand the scope of family pension benefits.

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Let us tell you that after the formation of the 8th Pay Commission, if the demands of the employees and pensioners are accepted, then about 50 lakh central employees will get the benefit. So about 56 lakh retired pensioners will also get its benefit, including retired defense and railway employees.

8th Pay commission: Central government employees and pensioners are currently waiting for the announcement of their eighth pay scale. It is expected that the 8th Pay Commission will bring big relief for them. If this is implemented soon, we may see a significant increase in the ‘take-home’ salary of the employees. Here we explain to you a little mathematics related to this.

How much can the salary increase?
According to experts, the fitment factor can be increased from 2.57 to 3.5 or more in the 8th Pay Commission. The increase in fitment factor has a direct impact on the basic salary. For example, if the minimum basic salary of an employee is Rs 18 thousand, then depending on the new fitment factor it can increase to around Rs 25 thousand to Rs 30 thousand. This will significantly increase the total salary you take home.

‘Take-home’ salary formula
Revised Basic Pay= Basic Pay*Fitment Factor

Impact on take-home salary

With increase in basic salary, dearness allowance (DA) will also increase.
House rent allowance (HRA) and other allowances will also increase.
Due to increase in total gross salary, in-hand salary will be higher.

However, in some cases, the increase in PF and other deductions may initially make a slight difference in the take-home, but the overall benefit will be more.

What is included in ‘take-home’ salary?
Your monthly salary includes not only basic but also many other allowances. Let us tell.

Basic Pay: about 51.5%
Dearness Allowance (DA): about 30.9%
HRA: about 15.4%
Transport Allowance: about 2.2%

Let us tell you that DA is reset initially, so even if there is an increase in basic salary in your first pay slip under the new commission, there will not be much increase.

Let us tell you that this time there has been a delay in the announcement of the 8th pay scale. Due to which there is a lot of commotion among the employees. The announcement which is due by the end of March has not been made yet. In such a situation, there is a dilemma among the working class. However, it is expected that it will be announced soon.