8th Pay Commission Salary Hike: Central employees are going to get good news soon. It is expected that after the implementation of the 8th Pay Commission, there will be a change in the HRA calculation, in which salary is expected to increase. Let us know in detail.
Central government employees will soon get good news. In which their salary may increase after the implementation of the 8th Pay Commission. Let us tell you, there is a lot of discussion about the 8th Pay Commission, in such a situation, the employees have a lot of expectations from the 8th Pay Commission 9, because in every pay commission, central government employees and pensioners eagerly wait for their salary and pension to increase.
Will there be a change in HRA rates in the 8th Pay Commission?
In such a situation, every pay commission will not only affect the salary (8th Pay Commission salary hike) structure, but also the rates of dearness allowance (DA), fitment factor and most importantly HRA i.e. “House Rent Allowance”. In such a situation, the biggest question arising in the minds of the employees is whether there will be a change in the rates of HRA in the 8th Pay Commission or not. In such a situation, let us know about it in detail …
Basic salary and pension of employees will increase
First of all, let us tell you that the Pay Commission is constituted for a period of 10 years. The primary objective of the Pay Commission is to revise the basic salary and pension of the Central Government employees. Along with this, let us tell you that not only the basic salary and pension are revised in the Pay Commission, but there are many major allowances like House Rent Allowance i.e. HRA, Travel Allowance, Child Education Allowance and many more, which are revised in the Pay Commission and there are some allowances which can be kept out of the Pay Commission, can be merged or can be abolished.
After all, how do HRA rates change?
The rates of HRA i.e. House Rent Allowance are revised with every Pay Commission. The rates were revised in the last commission. Which is as follows:-
The rates of HRA in 6th Pay Commission were 30% (X city), 20% (Y city) and 10% (Z city).
The 7th Pay Commission revised them and the HRA rates were fixed at 24%, 16%, 8%, but DA reached 50%, after which HRA was again increased to 30%, 20% and 10%. This means that the HRA rates are directly linked to DA and basic salary. In such a situation, when the 8th Pay Commission will be implemented, the government will revise the HRA rates according to the basic salary and DA.
HRA amount will increase with the new calculation
There is talk of increasing the fitment factor to 1.92 in the 8th Pay Commission. This means that the new pay base will be decided by multiplying the current basic salary of the employee by 1.92. For example, if the current basic salary is ₹30,000, then the new salary will be ₹30,000×1.92=₹57,600. In such a situation, the calculation of HRA will also be done on the new basic, due to which the amount of HRA will also increase.
There is a possibility of change in HRA rates: Expert
According to experts, there is a high possibility of change in HRA rates in the new pay commission. Every time a new pay commission is implemented, the HRA rates are revised. Currently, there is talk of increasing HRA by 30%, 20% and 10%. However, there is talk that it can be revised and it will be linked to DA. If this happens, not only will the money in the hands of the employees increase but DA is also expected to reach 25 percent and 50 percent.
How salaries are revised in Pay Commission?
This is decided on the basis of the fitment factor. The fitment factor is the multiplier for revising the basic salary and pension. It may vary for different pay commissions.
Who will decide the fitment factor for 8th Pay Commission?
The fitment factor is decided on the basis of the recommendations of the Pay Commission, but the Central Government can change it if it wants, as happened in the 6th Pay Commission, when the government increased it to 1.92.
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