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7th pay commission simplified

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7th Pay Commission Simplified

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7th pay commission simplified

  1. 1. (K F-2VY 7"‘ Pay Commission . j m’ Introduction ’ The 7th Pay Commission has recommended an average 23.55 per cent hike in salaries and allowances of government staff. Find out everything you need to know about the’7‘*‘PayCommission’in this infographic. WHAT IS PAY COMMISSION? It is an administrative system/ mechanism that is set up bythe government of India to determine the salaries of government employees. The concept is peculiar to India and no other countryin world is following this pattern. The government constitutes the Pay Commission almost every 10 years to revise the pay scale. CENTRAL GOVERNMENT EMPLOYEES INCLUDE Central Government employees: Industrial & Non—industria| Officers & employees of the Indian Audit & Accounts Department Members of the regulatory bodies (excluding the RBI) set up underthe Acts of Parliament Officers & employees of the Supreme Court Personnel belonging Union Territories Draws Examines Recommends a framework for the existing schemes appropriate training the pay Structure of payment of bonus / / O ' I/ .II_. lI an - ‘0 ‘j / . Q Recommends Reviews Examines appropriate incentive existing allowances the principles that govern schemes in addition to pay the structure of pension and retirement benefits PAST PAY COMMISSIONS , 13 states of India were not in a position to pay salaries to its employees due to the pay hike. It was the first Pay Commission without a militzuy member. It was set up 10 years after independence. Minimum Basic Salary ( in Rs ) 35 I946 I957 I970 I983 T994 2006 I II III IV V VI Pay Commission 7"‘ PAY COMMISSION ’ Formed by the previous UPA Government Chairman- Justice A. K. Mathur Scheduled to take effect from 1“January, 2016 48 lakh central government employees and 55 lakh pensioners will be benefited. RECOMMENDATIONS I I . -1-*3 I I I IMPACTS ' It will impact fiscal deficit by 0.65%. 52 allowances abolished and 36 others submerged Total financial impact in FY17 is likely to be Rs 1.02 lakh crore. -i’-" Q E | Lo Rs39,l00 crore Rs 29,300 crore Rs 33,700 crore The financial world now simplified with Ka rvy Private Wealth. Stay tuned in for more!

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