7th Pay Commission latest news: 20 lakh govt employees get this big New Year gift; Rs 10,000 cr in EPF accounts, detail here

7th Pay Commission: AHead of general elections 2019, new year gifts have started pouring in for these state government employees. While the central government staffers are yet to get good news with regards to their demand related to 7th pay commission, around 20,50,000 government employees including those working in Zilla Parishads (ZPs), aided schools and also pensioners of the BJP-ruled Maharashtra have got a confirmed pay hike of up to Rs 14,000.

In a meeting chaired by Maharashtra CM Devendra Fadnavis, the state cabinet has cleared the decision to hike the salaries and related allowances of the state staffers as per the recommendations of the 7th pay commission. This will entail an additional burden of Rs 38,645 crore on the exchequer. Each year the government will spend Rs 7,631 on the implementation of the pay commission report.

7th pay commission: 36-Month Arrears
This is not all. Since the government will be implementing the pay hike retrospectively from January 1, 2016, so the employees will also be getting arrears for 36 months. The arrears totalling to around Rs 10,000 crore will be credited into employees' provident fund (EPF) accounts in five installments.

Revised 7th pay commission Salary in February 1 salary packets
All the employees will get salaries as per the revised pay-scales from their February 1 salary packets.

7th pay commission based Dearness Allowance
The employees shall also be entitled to outstandings of dearness allowance (DA) for the past 14 months, said an official.

7th pay commission Pay Hike: Who gets what
According to estimates, there will be an increase of around Rs 4,000-Rs 5,000 for Class IV employees, Rs 5,000-Rs 8,000 for Class III staffers, and between Rs 9,000-Rs 14,000 for Class II grade and Class I officers.

Accordingly, employees falling in Group D will get revised basic salaries of around Rs 15,000 per month and those in Group C will get in the range of Rs 18000 per month.

Watch This Zee Business Tweet Video

#10KiKamaai | मार्केट एक्सपर्ट राकेश बंसल और कुणाल सरावगी ने हफ्ते के आखिरी कारोबारी दिन किस स्टॉक को चुना आपकी कमाई के लिए।@AnilSinghviZEE @dkalra81 @kunalsaraogi @iamrakeshbansal pic.twitter.com/dcvG9FoMLk

— Zee Business (@ZeeBusiness) December 28, 2018

Rs 10,000 crore earmarked in Budget
The state government had earmarked a sum of Rs 10,000 crore in the state budget for 2018-2019 to revise the pay-scales of the employees.

The move on hiking 7th pay commission based salaries is likely benefit the BJP in upcoming Lok Sabha elections and Maharashtra Assembly Elections to be held in 2019.