7th Pay Commission Latest updates 3/3

Here is the final phase of updates for Pay Commission to be implemented for Central Government employees , which is also extended to State government employees as well as public sector undertakings.

• Insurance to be extended to Central Government employees.
• Minimum salary to be 18,000/-
• Minimum salary for Defense to be 15,500/-
• Impact on Railways budget 28,000 Crores
• Basic salary hike to be 14.27%
• Gratuity amount doubled to 20 Lakh
• Maximum salary to be 2.25 Lakh
• Impact on budget 74,000 Crores
• One rank one pension to be extended.

7th Pa Commission Latest Updates 2/3

Here is the second phase of updates for the 7th Pay Commission applicable for both central and state government employees as well as public sector undertaking leaving apart public sector banks.

• Grade pay to be abolished. No Grade pay for Government employees now.
• Bay Band also to be abolished for Central Government employees.
• Total impact only on central govt employees leaving apart PSU would be around 1.2 Lakh Crores.
• Annual Hike to be maintained at 3%
• To be implemented from 1st January 2016.
• Retirement age to be fixed at 60 Years , no change in retirement age for central government employees.

7th Pay Commission Latest Updates 1/3

Here are the latest updates of 7th Pay Commission , we are updating the latest updates as and when it is coming as press conference is underway.

• Total Increase is likely to be 23.55%
• Salary Hike 16%
• Allowance Increase 65%
• Pension Increase 24%