Latest news with #1stCPC
India.com
27-07-2025
- Business
- India.com
8th Pay Commission Revised Salary Estimates for Grade Pay 2400, 4200, 4800, 7600, 8700 employees, HRA, CGHS, TA, NPS likely to revised at…
8th Pay Commission salary hike news: From 1st CPC to 7th CPC, How much minimum and maximum salary increased since 1947 8th Pay Commission Revised Salary Estimates: In a major development, the Modi government has reportedly started consultations with key stakeholders, including the Ministry of Defence, Ministry of Home Affairs, Department of Personnel and Training, and state governments, as part of the process to constitute the 8th Central Pay Commission (CPC). The implementation of the 8th Pay Commission will revise pay structures for nearly 50 lakh central government employees and 62 lakh pensioners. It is important to note that the attention of the Central government is now on a key component of the salary calculation — the fitment factor. In this article, we will discuss about the estimated revised basic pay, house rent allowance (HRA), transport allowance (TA), National Pension System (NPS), and Central Government Health Scheme (CGHS) payouts of Grade Pay 1800, 2000, 2800, 4600, or 5400 employees who has been keenly waiting for your basic salary revision at the 8th Pay Commission (8th CPC). We will calculate HRA at 24 per cent of the employee's basic salary (for employees residing in X class cities), and TA meant for higher TPTA cities (which is in the range of Rs 1,350 to Rs 7,200 for employees at different levels). Since NPS is calculated at 10 per cent of the basic salary of the employee, we will keep it at the same level. CGHS will be calculated as per the current rates. 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.) What is the fitment factor? The fitment factor is a numerical multiplier used to determine revised salaries. The fitness factor is applied to the current basic pay to calculate the new basic salary under the Pay Commission. A higher fitment factor leads to a corresponding increase in salary. For example, under the 7th Pay Commission, the fitment factor was 2.57 — meaning the basic pay was increased by 2.57 times to arrive at the new structure. If the 8th Pay Commission recommends a higher figure, the salary hike could range between 30% and 34%, as per initial estimates cited in reports. When will the 8th Pay Commission be implemented? It is important to note that there is no official notification yet, in a written reply to the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said, 'Inputs have been sought from major stakeholders, including Ministry of Defence, Ministry of Home Affairs, Department of Personnel & Training and from states.' He added that the chairperson and members of the 8th CPC will be appointed once the commission is formally notified. Madhya Pradesh Government Prepares Budget For 8th Pay Commission: According to the reports, the Mohan Yadav-led The Madhya Pradesh government is preparing the budget to implement salaries and pensions as per the 8th Pay Commission for around 7.5 lakh regular government employees and 4.5 lakh pensioners. The government is likely to provide an estimated 15 percent increase in salary and pension.
India.com
16-07-2025
- Business
- India.com
ATMs across India to stop dispensing Rs 500 notes from September? Here's the truth
8th Pay Commission salary hike news: From 1st CPC to 7th CPC, How much minimum and maximum salary increased since 1947 New Delhi: Is the Narendra Modi government planning to stop dispensing Rs 500 notes from ATMs across India? A message is going viral on social media platforms (Instagram, Facebook, Twitter and other) claiming that Rs 500 notes will stop being issued from ATMs starting September. The post claims the Reserve Bank of India has asked all banks to stop dispensing Rs 500 notes from ATMs after September 30, 2025. It also claims that, going forward, only Rs 200 and Rs 100 notes will be available in ATMs. The claim caused a stir as soon as it surfaced. In response, the government quickly acted to debunk the misinformation. The Press Information Bureau (PIB) took to social media and labeled the post as 'Fake', stating that RBI has issued no such directive to banks. Has RBI really asked banks to stop disbursing ₹500 notes from ATMs by September 2025? 🤔 A message falsely claiming exactly this is spreading on #WhatsApp #PIBFactCheck ✅ No such instruction has been issued by the @RBI. ✅ ₹500 notes will continue to be legal tender. 🚨… — PIB Fact Check (@PIBFactCheck) July 12, 2025 PIB advised the public to ignore such false messages and rely only on official sources for information. Rs 500 notes will remain valid, and people can continue to use them for transactions as usual. New Directive by Reserve Bank of India: In its recent notification, the Reserve Bank of India (RBI) revised its guidelines, directing 75 percent of the currency notes dispensed through ATMs should be in ₹100 and ₹200 denominations September 30. This percentage is to increase to 90 percent by March 31, 2026. The objective behind this move is to address the shortage of smaller denominations and reduce inconvenience for customers. With this change, people are expected to face fewer difficulties in getting smaller notes.
