3rd Pay Commission: CPSE employees get 15% salary hike
Central Public Sector Enterprises (CPSE) employees will be getting a 15% hike in salaries after the Union Cabinet approved recommendations of the 3rd Pay Commission.
A government official said that the Cabinet, led by Prime Minister Narendra Modi on Wednesday approved the recommendations made by 3rd Pay Commission for CPSEs and gave a 15% salary hike to employees.
The salary increase will be effective from January 1, 2017 which means that employees are entitled to arrears for the past six months.
PTI reported, "The previous commission had given a 37.2% rise in 2007 and the first commission had given between 24% and 30% increase."
This means that the 3rd Pay Commission's recommendations are the lowest so far.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.