The 8th Pay Commission is gaining a lot of attention from the central government employees and pensioners community due to the prospect of a higher annual increment. In raising certain demands, employee organisations have been talking to the commission, and one of the points is to add more to the annual increment, which currently is 3 per cent, up to 7 per cent.<\/p>\n
An incremental increase in salary could have a significant impact on the salary over the life of the employee. The benefit can increase step-by-step over time, as each new year’s increment is based on the updated salary. Here comes the much talked of amount of Rs 29 lakh. But it is important to know that it’s just a prediction on the basis of some assumptions (and not a guaranteed payment from the government).<\/p>\n