7th Pay Commission: Central govt employees to get up to 157% HRA hike
Employees will finally start getting their revised salaries effective under 7th Pay Commission form July. Higher HRA is speculated under the new revised salary structures.
The Central government employees that will start getting their revised salaries under the 7th Pay Commission from July will also be getting higher House Rent Allowances (HRA) as well.
The Union Cabinet chaired by Prime Minister Narendra Modi cleared the recommendations of the 7th Pay Commission on allowances with 34 modifications on 28 June.
The employees will start getting HRA in the range of 106% to 157% effective from this month, a report by Zee News said on Monday.
More than 48 lakh Central government employees will be getting the hike in HRA and other arrears from this month.
As per the revised pay, the government has increased the minimum wage of the central government employees from Rs 7000 per month to Rs 18000 per month.
The allowances as recommentded by the 7th CPC would have cost the exchequer Rs 29, 300 crore.
Earlier the Ashok Lavasa committee had recommended that HRA be paid at 24%, 16% and 8%.
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.