7th Pay Commission report notified: 5 key takeaways from Narendra Modi govt action

7th Pay Commission report notified: 5 key takeaways from Narendra Modi govt action

1.7th Pay Commission report: With the exceptions in Defence Pay Matrix in order to maintain parity in pay with Central Armed Police Forces, Centre has okayed the 7th Pay Commission recommendations on Minimum Pay, Fitment Factor, Index of Rationalisation, Pay Matrices and general recommendations without any material alteration.

2. 7th Pay Commission report: According to the Centre, there shall be two dates for grant of increments: 1st January and 1st July of every year, instead of existing date of 1st July. (Reuters)

3. 7th Pay Commission report: The Centre says 7th Pay Commission recommendations on Allowances (except Dearness Allowance) will be referred to a Committee, which will submit its report within a period of four months. Till a final decision on Allowances is taken, all allowances will continue to be paid at existing rates in existing pay structure, as if the pay had not been revised with effect from 1st day of January, 2016.

4. 7th Pay Commission report: The Military Service Pay, which is a compensation for the various aspects of military service, will be admissible to the Defence forces personnel only.

5. 7th Pay Commission report: As before, Military Service Pay will be payable to all ranks up to and inclusive of Brigadiers and their equivalents. Short Service Commissioned Officers will be allowed to exit the Armed Forces at any point in time between 7 and 10 years of service, with a terminal gratuity equivalent of 10.5 months of reckonable emoluments.

The Narendra Modi government has given enormous relief to government employees today by issuing notification for the implementation of the 7th Pay Commission report. This means they will receive their revised salaries from August. However, take a look at some of the key takeaways to this major event.

Source : Financial Express