7th pay commission

7th Pay Commission Revised Pay Matrix Chart PDF Download for Central Government Employees In its report, the 7th Central Pay Commission put forward a groundbreaking basic salary table that boasts visionary foresight. Designed to simplify payment calculations for over 35 lakh Central Government employees, this unique table – known as the ‘Matrix Pay Table’ – features a single number grid that allows for instant payment calculation without any need for additional computation. The table is straightforward in appearance, featuring only numbers, and is utilized for revising basic pay from the 6th CPC to the 7th CPC. The Indian government has already given the green light to this innovative pay matrix table, and is currently in the process of refining it. Of note is Pay Level 13, which has undergone a complete overhaul in terms of pay hierarchy. The updated pay matrix table for Central Government employees as per the 7th Central Pay Commission has been released by the Ministry of Finance with a resolution dated May 16, 2017. 7th Pay Scale Chart Level 12 PDF The 7th Pay Scale Chart Level 1 is a comprehensive system that provides clear and concise information on the salary structure for government employees in India. This level is assigned to employees with Grade Pay 1800 – PB-1 5200/20200. The Pay Level-1 of the chart outlines the basic pay scale for these employees. The index number 1 in the matrix pay indicates that the salary for Pay Level-1 starts at Rs. 18,000. On the other ...

Previous Next • How to Invest • Stocks • Mutual Funds • Fundamental analysis • Technical analysis • Gold • Tax • Investing psychology • Saving Schemes • Insurance • Passive income • Credit score • Investments • Risk management • Regulations • Portfolio management • Retirement • Budgeting • Current Events • Corporate Finance • Valuation • Accounting • Company Reports • Market Experts • More • How to Use Tickertape • Announcements • IPO • Scams In Finance Last Updated on May 24, 2022 by A pay commission is set up so as to recommend changes to the pay structure of Central Government employees, including military personnel. The 7th Pay Commission is the 7th such commission set up since India’s independence. It also recommends norms for the issue of bonuses, allowances, pension schemes, retirement benefits, and other incentives while considering the employees’ performance. • their current pay and their current position in the hierarchy • their potential career paths • their potential future earnings as they go up the ladder The most recent pay matrix has been upgraded in such a way that most of the demands of Central Government employees, i.e., the stakeholders, have been met. Calculation of receivable pension has also been made easier. Recent pay matrix for Central Government employees The matrix can be interpreted as the vertical range showing how much you can progress pay-wise in a particular level. The horizontal range shows the different levels ranging from 1 to 18. For in...

7th Pay Commission Update: In good news for central government employees, the Centre is likely to hike dearness allowance (DA) next month, July 2023, thus raising their salaries, according to media reports. The DA hike is likely to be 3-4 per cent, to compensate central government employees and pensioners for rising prices. The DA is hiked twice a year — January and July. The last hike was announced in March 2023, which became effective from January 1, 2023. In the hike, the DA was raised by 4 per cent to 42 per cent. Now, according to the latest reports, the central government might decide to hike DA by 4 per cent, following which the DA will increase to 46 per cent. Dearness allowance (DA) is given to government employees, while dearness relief (DR) is for pensioners. According to the official data, there are 47.58 lakh central government employees and 69.76 lakh pensioners. After the upcoming DA hike, these employees and pensioners will be benefitted. The DA is given to employees based on the basic pay of the employees, while the DR is given on the basis of a basic pension. State governments separately announce hikes for their employees. Recently, Jharkhand and Himachal Pradesh announced their salary hikes for their state government employees and pensioners. How Much Will Salary Increase? If a government employee’s monthly take-home salary is about Rs 42,000 and the Basic Pay is around Rs 25,500; then he/ she now gets Rs 9,690 as the dearness allowance. Now, in the case...

The Central government’s decision to extend the 7th Central Pay Commission’s benefits to teachers and other academic staff of the state government and government-aided degree-level technical institutions stands to benefit a total of 29,264 staff, according to Human Resource Development (HRD) Minister Prakash Javadekar. While the academic staff in question are celebrating the news, the move is expected to cost Before this, in 2016, the Union Cabinet had approved the 7th Pay Commission’s recommendations to hike salaries of central government employees across sectors, as well as pensions. Here’s all you need to know. What Is a Pay Commission? A Pay Commission is set up by the Government of India, which is tasked with reviewing and making recommendations on the work and pay structure of all civil and military divisions of the government, and giving recommendations regarding changes in the salary structure of its employees accordingly. The Commission is also given 18 months from the date of its constitution to make its recommendations. Since India gained independence in 1947, seven such Pay Commissions have been set up. The first Pay Commission, under the Chairmanship of Srinivasa Varadachariar, was established on January 1946. • Increase the minimum monthly salary of a government employee to Rs 18,000 per month from the previous Rs 7,000 (as per the Sixth Pay Commission). • Increase the maximum monthly salary of a government employee to Rs 2,50,000 per month from the previous ...

7th Central Pay Commission Pay Matrix Table The pay matrix table introduced by the 7th pay commission is designed specifically for the civilian employees of the Central Government. This table has been created to keep up with the new pay matrix and the increasing opportunities that have become available outside of the government sector. It is intended to attract and retain top talent within government services amidst greater competition for human resources. The 7th pay matrix table consists of 760 cells and is a single fitment table for over 30 lakh central government employees. It displays 19 columns and 40 rows, with the horizontal field featuring numbers 1 to 18 indicating functional roles within the hierarchy, and the vertical range representing pay progression within each level. An annual financial progression of 3.00% per level is demonstrated with a vertical line. The table follows the Aykroyd formula, with the beginning point representing the lowest pay as per 15th ILC norms. With the subsumed pay and explained levels, employees can now easily understand their current status and potential growth within their careers by consulting this chart. Additionally, this table can also aid in the calculation of pensions. Table Name Type of Table Basic Salary Table Introduced By 7 th Central Pay Commission 7th CPC Report Implemented from st January 2016 Updated on 1.3.2023 Beneficiaries Central Govt Employees Index of Table Number of Stages Level of Table Current Status of Post...

7th Pay Commission: The latest news on the 7th Pay Commission reveals that Central Government Employees are anticipated to receive an augmentation in their dearness allowance starting from July. The announcement of the Dearness Allowance Hike, however, is yet to be made by the government. During the ongoing financial year, the government plans to raise the dearness allowance for the first time. Based on the April data of AICPI (All India Consumer Price Index), it is highly likely that employees will witness an increase of approximately 3 to 4 percent in their salary as dearness allowance. The extent of this increase will also depend on the figures recorded for the months of May and June. Favorable AICPI figures during these months could lead to a 4 percent surge in both dearness allowance and dearness relief. Let's look into the extent of the anticipated dearness allowance increment. Presently, central employees receive a dearness allowance of 42 percent. If the dearness allowance is further increased by 4 percent, the employees' dearness allowance will rise to 46 percent. Media reports suggest that the AICPI figure for April stands at 134.2 points, resulting in a DA score of 45.06. The index is projected to reach 46.40 during May and June, thus making a 4 percent DA hike highly likely. Now, let's examine the impact of this increase on the employees' salary. If an employee's monthly salary amounts to Rs 18,000, the dearness allowance at the current rate of 42 percent would...