7th Pay Commission latest news today on jobs: Massive pay and benefits is what these UPSC applicants will get if they are hired!
7th Pay Commission latest news today on jobs: As per 7th CPC recommendations, the Group-B post is permanent while its pay scale will be in Level-6 in the Pay matrix.
7th Pay Commission latest news today on jobs: The Union Public Service Commission (UPSC) had issued notification inviting applications for the post of Assistant Employment Officer (AEO) in the Directorate General of Employment at the Ministry of Labour and Employment. The last date to apply to the posts notified by the UPSC was August 1, 2019. So, what are the interested and eligible candidates who have applied for the above-mentioned posts likely to get in terms of pay and benefits? The biggest benefit is that they have an opportunity to get the 7th pay commission pay matrix! Since 2016, central government employees pay has been hiked significantly with the lowest pay (basic salary) being Rs 18,000 per month and highest being over Rs 2 lakh.
As per the 7th Pay Commission recommendations approved by the central government, the Group-B post is permanent while its pay scale will be in Level-6 in the pay matrix. For more information to the UPSC applicants, who have applied for the post of Assistant Employment Officer, a fitment factor is a multiplication number that is used to arrive at a common result. The 7th Pay Commission multiplies this figure with the basic pay in 6th CPC regime (Pay in Pay band added with Grade pay) for the purpose of determining basic pay in revised pay structure.
See Zee Business Live TV streaming below:
The fitment that the 6th CPC had recommended was in the form of grade pay. Lack of consistency in the assessment of grade pay and in the spacing of pay bands have a direct impact on the quantum of fitment benefit. This resulted in numerous stakeholders demanding that a single fitment factor be implemented that can be uniformly applied for all employees.
The 6th Pay Commission had suggested 1.86 as Fitment Factor. The 7th Pay Commission recommended a common fitment benefit of 2.57 to be applied for all employees. On the basis of this fitment factor, the minimum basic pay for central government employees is Rs. 18,000 per month, an increase from Rs 7,000, which is 2.57 times the basic pay of the 6th Pay Commission.
However, the central government employees have been urging the government to raise the fitment factor from 2.57 to 3.68. A fitment factor hike has been promised on a number of occasions by authorities, but nothing official has come. Expectations are that this hike will come sooner rather than later.
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.