8th Pay Commission Important Update: Revised Salary Estimates for Grade Pay 2400, 4200, 4800, 7600, 8700 employees, salary to be…
8th Pay Commission Revised Salary Estimates: The Modi government is likely to announce the 8th Pay Commission for the Central government employees and pensioners across India soon. According to a recent report by Ambit Capital, the new pay structure could lead to a 30–34 percent hike in overall remuneration, impacting over 1 crore employees and retirees nationwide. Some of the key allowances that central government employees get are house rent allowance (HRA), transport allowance (TA) and child education allowance (CEA).
While their HRA is based on their rank and place of residence, they get their TA as per the place they travel to attend their office. It can be in the range of Rs 900-Rs 7,200. As far as salary deductions are concerned, the National Pension System (NPS) and Central Government Health Scheme (CGHS) are the main ones. While the NPS contribution is 10 percent of the basic pay and CGHS charges range from Rs 250 to Rs 1,000 based on the employee's rank, the 8th Pay Commission could bring changes to basic salary, HRA, TA, as well as NPS and CGHS deductions. Curious about how these revisions may look for employees in Grade Pay levels 2400, 4200, 4800, 7600, and 8700 under 1.92x and 2.57x fitment factors? Check out our projections for a detailed breakdown: At 1.92 fitment factor
Revised basic pay: Rs 54,528 HRA: Rs 13,086.72 TA: Rs 3,600 Gross salary: Rs 71,214.72 NPS: Rs 5,452.80 CGHS: Rs 250
Net salary: Rs 65,511.92 At 2.57 fitment factor
Revised basic pay: Rs 72,988 HRA: Rs 17,517.12 TA: Rs 3,600 Gross salary: Rs 94,105.12 NPS: Rs 7,298.80 CGHS: Rs 250
Net salary: Rs 86,556.32 At 1.92 fitment factor
Revised basic pay: Rs 73,152 HRA: Rs 17,556.48 TA: Rs 3,600 Gross salary: Rs 94,308.48 NPS: Rs 7,315.20 CGHS: Rs 250
Net salary: Rs 86,743.28 At 2.57 fitment factor
Revised basic pay: Rs 97,917 HRA: Rs 23,500.08 TA: Rs 3,600 Gross salary: Rs 1,25,017.08 NPS: Rs 9,791.70 CGHS: Rs 250
Net salary: Rs 1,14,975.38 At 1.92 fitment factor
Revised basic pay: Rs 1,12,512 HRA: Rs 27,002.88 TA: Rs 3,600 Gross salary: Rs 1,43,114.88 NPS: Rs 11,251.20 CGHS: Rs 650
Net salary:Rs 1,31,213.68 At 2.57 fitment factor
Revised basic pay: Rs 1,50,602 HRA: Rs 36,144.48 TA: Rs 3,600 Gross salary: Rs 1,90,346.48 NPS: Rs 15,060.20 CGHS: Rs 650
Net salary: Rs 1,74,636.28 At 1.92 fitment factor
Revised basic pay: Rs 1,53,984 HRA: Rs 36,956.16 TA: Rs 7,200 Gross salary: Rs 1,98,140.16 NPS: Rs 15,398.40 CGHS: Rs 650
Net salary: Rs 1,82,091.76 At 2.57 fitment factor
Revised basic pay: Rs 2,06,114 HRA: Rs 49,467.36 TA: Rs 7,200 Gross salary: Rs 2,62,781.36 NPS: Rs 20,611.40 CGHS: Rs 650
Net salary: Rs 2,41,519.96 At 1.92 fitment factor
Revised basic pay: Rs 1,85,472 HRA: Rs 44,513.28 TA: Rs 7,200 Gross salary: Rs 2,37,185.28 NPS: Rs 18,547.20 CGHS: Rs 650
Net salary: Rs 2,17,988.08 At 2.57 fitment factor
Revised basic pay: Rs 2,48,262 HRA: Rs 59,582.88 TA: Rs 7,200 Gross salary: Rs 3,15,044.88 NPS: Rs 24,826.20 CGHS: Rs 650
Net salary: Rs 2,89,568.68
(Disclaimer: These are projections. Actual revised amounts may vary.)
Ambit Capital estimates that the fitment factor for the 8th Pay Commission could be in the range of 1.83 to 2.46. This implies that the minimum salary, currently at Rs 18,000, could increase to Rs 32,940 (at 1.83) or even Rs 44,280 (at 2.46).
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