8th Pay Commission Latest News 2024 Check Basic Salary, Fitment Factor The central government has received a proposal letter for the formation of the 8th Pay Commission ahead of the 2024 budget. The proposal letter contains recommendations for basic pay, allowances, pension and other benefits for government employees and pensioners, which has been submitted to the government. If the government announces the 8th Pay Commission, it may be announced from the date of January 1, 2026, in line with the usual 10-year gap between pay commissions. However, this remains speculation until officially confirmed through the government.
The recently announced Integrated Pension Scheme for Central Government employees has been introduced or the scheme will be available only to those who are currently members of the New Pension Scheme (NPS), including retired employees. The new scheme guarantees employees a pension of 50 per cent of their average basic pay during the last 12 months before retirement for a minimum qualifying service of 25 years against market return-linked payment through NPS.
8th Pay Commission 2024 Overview
| Department | Department of Economic Affairs |
| Scheme started by | Central Government of India |
| Purpose | To help the government employees in evaluating their salary or related Financial assets |
| 8th Pay Commission Based on | Fitment Factor |
| 8th Pay Commission Expected Date | 2024 |
| Applicable year | January 2026 |
| Beneficiaries | Central Government Employees |
Benefits of 8th Pay Commission 2024
For Central Government Employees
- Increased salaries
- Enhanced allowances
- Improved retirement benefits
- Boosted morale and motivation
For the Indian Economy
- Increased spending
- Tax revenue Growth
- Reduced Financial stress
Expected 8th Pay Commission Minimum Basic Salary 2024
| Pay Matrix Level | Basic Salary of 7th CPC | Basic Salary of 8th CPC |
| Pay Matrix Level 1 | ₹18,000 | ₹21,000 |
| Pay Matrix Level 2 | ₹19,000 | ₹23,880 |
| Pay Matrix Level 3 | ₹21,000 | ₹26.040 |
| Pay Matrix Level 4 | ₹25,500 | ₹30,600 |
| Pay Matrix Level 5 | ₹29,200 | ₹35,040 |
| Pay Matrix Level 6 | ₹35,400 | ₹42,480 |
| Pay Matrix Level 7 | ₹44,900 | ₹53,880 |
| Pay Matrix Level 8 | ₹47,600 | ₹57,120 |
| Pay Matrix Level 9 | ₹53,100 | ₹63,720 |
| Pay Matrix Level 10 | ₹56,100 | ₹67,320 |
| Pay Matrix Level 11 | ₹67,700 | ₹81,240 |
| Pay Matrix Level 12 | ₹78,800 | ₹94,560 |
| Pay Matrix Level 13 | 1,23,100 | ₹1,47,720 |
| Pay Matrix Level 13 A | ₹1,31,100 | ₹1,57.320 |
| Pay Matrix Level 14 | ₹1,44,200 | ₹1,73,040 |
| Pay Matrix Level 15 | ₹1,82,200 | ₹2,18,400 |
| Pay Matrix Level 16 | ₹2,05,400 | ₹2,46,480 |
| Pay Matrix Level 17 | ₹2.25 Lakh | ₹2.70 Lakh |
| Pay Matrix Level 18 | ₹2.50 Lakh | ₹3 Lakh |
8th Pay Commission Fitment Factor 2024
The announcement for the 8th Pay Commission is awaited, but it is likely that a “fitment factor” will be used to calculate the new pay and create its pay structure. This factor will be used to convert your existing 7th Pay Commission pay into the new 8th Pay Commission scale. Recall the 7th Pay Commission, which used a single factor (2.57) to adjust everyone’s 6th Pay Commission pay. Whereas the 8th Pay Commission may take a different approach, potentially using multiple factors (e.g. 2.57, 2.62, etc.) based on your pay level. This difference stems from the 7th Pay Commission’s desire to create a larger pay gap between multiple levels (e.g. PB1 and PB4) in the new system.
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