rewrite this content using a minimum of 1000 words and keep HTML tags
8th CPC Salary Projections: As days are passing, most central government employees have been keenly waiting for 8th Pay Commission-related developments. The commission’s formation, its report, and recommendation implementation will impact the payouts that government employees get. One of the most sought-after salary revision aspects will be the fitment factor, which is the multiplier to calculate the revised salaries, pension, and other allowances for employees.
After the government approves the 8th CPC report with the fitment factor, central govt employees are most likely to see a boost in their basic pay, key allowances such as house rent allowance (HRA) and transport allowance (TA), and main deductions such as National Pension System (NPS) and Central Government Health Scheme (CGHS).
For Grade Pay 1800, 2800, 4600, 5400 and 8700 employees, what may be the revised basic salary, HRA, TA, NPS, and CGHS payouts if the 8th Pay Commission decides on a 2.08, 2.57, or 2.86 fitment factor? Know in this write-up.
HRA allowance for central government employees
It depends on the city a central government employee resides in. The rates are 24 per cent for X-class cities, 16 per cent for Y-class cities, and 8 per cent for Z-class cities.
When the dearness allowance (DA) rates reach 50 per cent, HRA rates for X, Y and Z class cities rise to 30 per cent, 20 per cent and 10 per cent respectively.
For X, Y, and Z class cities, these amounts can’t be less than Rs 5,400, Rs 3,600, and Rs 1,800, respectively.
Transport allowance (TA)
Employees get it to travel between their home and office. This also depends on their city of posting and rank. TA is in the range of Rs 950-Rs 7,200 for different pay scale employees.
NPS contribution
A 10 per cent amount of basic pay and dearness allowance is deducted from an employee’s salary as part of their NPS contribution. The government contributes 14 per cent.
CGHS charges
The government provides health facilities to its employees through CGHS dispensaries and hospitals.
It takes a fixed monthly charge from the salary of every employee.
The charge can be in the range of Rs 250 to Rs 1,000 depending on the rank of an employee.
Calculations for story
We will calculate estimated revised basic pay, HRA, TA, NPS, and CGHS payouts at 2.08, 2.57, and 2.86 fitment factors.
We will take HRA as 24 per cent of basic pay, TA for higher TPTA cities, and CGHS at prevailing rates.
We will take these basic pays from Pay Grades 1800, 2800, 4600, 5400, and 8700 for our story.
Revised basic salary, allowance for employee Pay Grade 1800 (basic pay Rs 20,900)
Fitment factor
2.08
Revised basic pay
₹43,472
HRA
₹10,433
TA
₹1,350
Gross salary
₹55,255
NPS
₹4,347
CGHS
₹520
Net salary
₹50,388
Fitment factor
2.57
Fitment factor
2.86
Revised basic pay
₹53,713
Revised basic pay
₹59,774
HRA
₹12,891
HRA
₹14,346
TA
₹1,350
TA
₹1,350
Gross salary
₹67,954
Gross salary
₹75,470
NPS
₹5,371
NPS
₹5,977
CGHS
₹643
CGHS
₹715
Net salary
₹61,940
Net salary
₹68,777
Revised basic salary, allowance for employee Pay Grade 1800 (basic pay Rs 28,800)
Fitment factor
2.08
Revised basic pay
₹59,904
HRA
₹14,377
TA
₹3,600
Gross salary
₹77,881
NPS
₹5,990
CGHS
₹520
Net salary
₹71,371
Fitment factor
2.57
Fitment factor
2.86
Revised basic pay
₹74,016
Revised basic pay
₹82,368
HRA
₹17,764
HRA
₹19,768
TA
₹3,600
TA
₹3,600
Gross salary
₹95,380
Gross salary
₹105,736
NPS
₹7,402
NPS
₹8,237
CGHS
₹643
CGHS
₹715
Net salary
₹87,336
Net salary
₹96,785
Revised basic salary, allowance for employee Pay Grade 2800 (basic pay Rs 34,900)
Fitment factor
2.08
Revised basic pay
₹72,592
HRA
₹17,422
TA
₹3,600
Gross salary
₹93,614
NPS
₹7,259
CGHS
₹520
Net salary
₹85,835
Fitment factor
2.57
Fitment factor
2.86
Revised basic pay
₹89,693
Revised basic pay
₹99,814
HRA
₹21,526
HRA
₹23,955
TA
₹3,600
TA
₹3,600
Gross salary
₹114,819
Gross salary
₹127,369
NPS
₹8,969
NPS
₹9,981
CGHS
₹643
CGHS
₹715
Net salary
₹105,208
Net salary
₹116,673
Revised basic salary, allowance for employee Pay Grade 2800 (basic pay Rs 44,100)
Fitment factor
2.08
Revised basic pay
₹91,728
HRA
₹22,015
TA
₹3,600
Gross salary
₹117,343
NPS
₹9,173
CGHS
₹520
Net salary
₹107,650
Fitment factor
2.57
Fitment factor
2.86
Revised basic pay
₹113,337
Revised basic pay
₹126,126
HRA
₹27,201
HRA
₹30,270
TA
₹3,600
TA
₹3,600
Gross salary
₹144,138
Gross salary
₹159,996
NPS
₹11,334
NPS
₹12,613
CGHS
₹643
CGHS
₹715
Net salary
₹132,162
Net salary
₹146,669
Revised basic salary, allowance for employee Pay Grade 4600 (basic pay Rs 50,500)
Fitment factor
2.08
Revised basic pay
₹105,040
HRA
₹25,210
TA
₹3,600
Gross salary
₹133,850
NPS
₹10,504
CGHS
₹1,352
Net salary
₹121,994
Fitment factor
2.57
Fitment factor
2.86
Revised basic pay
₹129,785
Revised basic pay
₹144,430
HRA
₹31,148
HRA
₹34,663
TA
₹3,600
TA
₹3,600
Gross salary
₹164,533
Gross salary
₹182,693
NPS
₹12,979
NPS
₹14,443
CGHS
₹1,671
CGHS
₹1,859
Net salary
₹149,884
Net salary
₹166,391
Revised basic salary, allowance for employee Pay Grade 4600 (basic pay Rs 60,400)
Fitment factor
2.08
Revised basic pay
₹125,632
HRA
₹30,152
TA
₹3,600
Gross salary
₹159,384
NPS
₹12,563
CGHS
₹1,352
Net salary
₹145,468
Fitment factor
2.57
Fitment factor
2.86
Revised basic pay
₹155,228
Revised basic pay
₹172,744
HRA
₹37,255
HRA
₹41,459
TA
₹3,600
TA
₹3,600
Gross salary
₹196,083
Gross salary
₹217,803
NPS
₹15,523
NPS
₹17,274
CGHS
₹1,671
CGHS
₹1,859
Net salary
₹178,889
Net salary
₹198,669
Revised basic salary, allowance for employee Pay Grade 5400 (basic pay Rs 61,300)
Fitment factor
2.08
Revised basic pay
₹127,504
HRA
₹30,601
TA
₹7,200
Gross salary
₹165,305
NPS
₹12,750
CGHS
₹1,352
Net salary
₹151,203
Fitment factor
2.57
Fitment factor
2.86
Revised basic pay
₹157,541
Revised basic pay
₹175,318
HRA
₹37,810
HRA
₹42,076
TA
₹7,200
TA
₹7,200
Gross salary
₹202,551
Gross salary
₹224,594
NPS
₹15,754
NPS
₹17,532
CGHS
₹1,671
CGHS
₹1,859
Net salary
₹185,126
Net salary
₹205,204
Revised basic salary, allowance for employee Pay Grade 5400 (basic pay Rs 75,400)
Fitment factor
2.08
Revised basic pay
₹156,832
HRA
₹37,640
TA
₹7,200
Gross salary
₹201,672
NPS
₹15,683
CGHS
₹1,352
Net salary
₹184,636
Fitment factor
2.57
Fitment factor
2.86
Revised basic pay
₹193,778
Revised basic pay
₹215,644
HRA
₹46,507
HRA
₹51,755
TA
₹7,200
TA
₹7,200
Gross salary
₹247,485
Gross salary
₹274,599
NPS
₹19,378
NPS
₹21,564
CGHS
₹1,671
CGHS
₹1,859
Net salary
₹226,436
Net salary
₹251,175
Revised basic salary, allowance for employee Pay Grade 8700 (basic pay Rs 1,30,600)
Fitment factor
2.08
Revised basic pay
₹271,648
HRA
₹65,196
TA
₹7,200
Gross salary
₹344,044
NPS
₹27,165
CGHS
₹2,080
Net salary
₹314,799
Fitment factor
2.57
Fitment factor
2.86
Revised basic pay
₹335,642
Revised basic pay
₹373,516
HRA
₹80,554
HRA
₹89,644
TA
₹7,200
TA
₹7,200
Gross salary
₹423,396
Gross salary
₹470,360
NPS
₹33,564
NPS
₹37,352
CGHS
₹2,570
CGHS
₹2,860
Net salary
₹387,262
Net salary
₹430,148
Revised basic salary, allowance for employee Pay Grade 8700 (basic pay Rs 1,55,900)
Fitment factor
2.08
Revised basic pay
₹324,272
HRA
₹77,825
TA
₹7,200
Gross salary
₹409,297
NPS
₹32,427
CGHS
₹2,080
Net salary
₹374,790
Fitment factor
2.57
Fitment factor
2.86
Revised basic pay
₹400,663
Revised basic pay
₹445,874
HRA
₹96,159
HRA
₹107,010
TA
₹7,200
TA
₹7,200
Gross salary
₹504,022
Gross salary
₹560,084
NPS
₹40,066
NPS
₹44,587
CGHS
₹2,570
CGHS
₹2,860
Net salary
₹461,386
Net salary
₹512,636
(Disclaimer: These are estimates. Actual revised payouts may vary.)
and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website http://defi-daily.com and label it “DeFi Daily News” for more trending news articles like this
Source link