BREAKING NEWS

BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first*** DA FOR BANKER FROM FEBRUARY 2023 SEE DETAILS CHART FOR OFFICER AND WORKMAN***Outcome of Today’s meeting with IBA - 31.01.2023***All India Bank Strike 27.06.2022******PLEASE VISIT INDIAN TOURISM CULTURE & HERITAGE *****NITI Aayog finalised names of Two public sector banks and one general Insurance Co. for privatisation****No economic reason to privatise PSU banks---post date 24.05.2021******Mobile users may soon be able to switch from postpaid to prepaid and vice versa using OTP*****India May Privatise or Shut 46 PSUs in First 100 Days, Says NITI Aayog's Rajiv Kumar----We should start with the banks*****Expected DA for Bank Employee from August 2019 is 24 slab to 29 slab*****RTGS time window from 4:30 pm to 6:00 pm. with effect from June 01.06.2019******WITHOUT CUSTOMER'S CONSENT BANK CAN NOT USE AADHAAR FOR KYC ----RBI***** Salient features of Sukanya Samriddhi Account---Who can open and how?******OBC posts 39% rise in Q4 profit, OBC readt tWITHOUT CUSTOMER'S CONSENT BANK CAN NOT USE AADHAAR FOR KYC ----RBI o take another Bank--MD MUkesh Jain*******DA FOR BANKER FROM NOV 2018 IS INCREASE 66 SLAB I.E 6.60%****40,000 STANDARD DEDUCTION IN YOUR TAX - IS A GREAT DRAM/BLUFF BY JAITLY SEE DETAILS+++++++Cabinet approves plans to merge PSU banks-The final scheme will be notified by the central government in consultation with the Reserve Bank. post date 23.08.2017****IBA to restrict the negotiations on Charter of Demands of Officers' Associations up to Scale-III only post dated 07.07.2017*****

VISITOR FROM WORLD

Free counters!

YOU ARE VISITOR

Blog Archive

LIVE

BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first****Outcome of Today’s meeting with IBA - 31.01.2023*********

Friday, December 8, 2017

7th Pay Commission Could be Last CPC, Government Mulling Pay Hike When DA Crosses 50 Per Cent

The 7th Pay Commission or 7th CPC could be the last commission to formulate salaries and pension of central government employees as the Centre may not form any pay commission in future. The government is also mulling to revise salaries of its 4.8 million employees and 5.2 million pensioners when Dearness Allowance (DA) crosses 50 per cent. Notably, the 7th Pay Commission had recommended that the government should review the salary of central government employees every year rather than forming new pay commission after the long period of ten years.
Instead of forming new central pay commission after the 7th Pay Commission, the government is likely to revise salaries and allowances when DA crosses 50 per cent, said a Sen Times report quoting Finance Ministry sources. “The government’s objective is to keep central government employees salaries and allowances in balance with prices in the market, so pay and allowances will be hiked when DA crosses 50 per cent,” sources were quoted as saying.
They said the 7th Pay Commission could be the last central pay commission and the department of expenditure will be responsible to regularly monitor salaries and allowances of central government employees. “The department of expenditure will submit a report in respect of pay hike when DA crosses 50 percent to the Finance Minister Arun Jaitley,” they said.
Earlier in an interview, Justice AK Mathur, who led the 7th Pay Commission, said, “The government should review the salary of central government employees every year looking into the data available to it and based on the price index.” The 7th Pay Commissionrecommended that the pay matrix may be reviewed periodically without waiting for the long period of ten years.
According to the Finance Ministry officials, the government is contemplating the suggestion of the 7th Pay Commission and may not appoint any pay commissions in future to suggest salary hike and other perks for all central government employees and pensioners.

No comments:

Great News Five days Banking coming Soon

*Great news for all bankers in India!* _We have received confirmation from authentic sources that the Department of Financial Services (MoF)...

script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js">