Important Points to know about 7th Central Pay Commission

    Important Points to know about 7th Central Pay Commission
    Important Points to know about 7th Central Pay Commission:
    Dear Readers, Important points that we have to know about 7thCentral Pay Commission were given here, which will be more helpful for the candidates those who are preparing for the upcoming exams.

    1).7th Central Pay Commission (CPC) submitted its report toUnion Finance Ministry in New Delhi

    2). Head of 7thCPC –Justice AK Mathur

    3).Objective of CPC – to revise remuneration of employees and pensioners of central government including Defence and Railways

    4). CPC is constituted by the Union Government after almost every10 years in order to revise the pay scales of employees

    5).6th CPC was headed byB.N.Srikrishna and was approved inJuly 2006

    6).The recommended pay revision will come into effect from1stJanuary 2016

    7).The following are therecommendationsof the 7thCPC to the Union Government
    ·        23.55%hike in pay and allowances of government employees
    ·        To set minimum basic pay asRs. 18,000 and maximum asRs. 2.5 lakh per month
    ·        Abolitionof grade pay and pay band structure
    ·        To setrate of annual increment for employees at3%
    ·        Thepay to increase by16%
    ·        Allowancesto increase by63%
    ·        Pensionto increase by24%
    ·        Abolition of52 allowances 
    ·        Introduction of aHealth Insurance Scheme
    ·        One Rank One Pension (OROP) scheme for central government staffers, para military as well as armed forces personnel
    ·        Increase in military service pay and revised pension formula for civil employees includingCentral Armed Police Forces (CAPF) and Defense Personnel retiring before1 January 2016

    8). Finance Ministry to set up a committee headed byExpenditure Secretary to go through the report for its implementation

    9).About47 lakh serving employee and52 lakh pensioners of the Central Government will be impacted by this pay revision

    10). Implementation of 7th CPC will impactfiscal deficit by0.65%

    11). It will cost the public Tax department overRs. 1 lakh annually

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