Sunday, March 30, 2008

Total Arrears and New Pay Calculator xls file

Here is the latest total arrears and new Pay Calculator after approval of 6th pay commission report by cabinet, it calculates your total arrears and new pay after implementation of sixth pay commission report. Download this file Here. 6PC-Arrears-Calculator.xls, download the calculator by right clicking the link and save.

Wait here for one minute for loading of calculator in this post.

to know grade pay, visit here.

Thursday, March 27, 2008

People Unsatified With sixth pay commission report

All news about 40% rise in salary is absolutely wrong. If you read full report here or calculate your net salary, you will find that actual rise in pay is only around 20% for most of central government employees.

Now unsatisfied with sixth pay commission report, armed forces are planning to petition the government to ensure officers and jawans get better pay packages than the ones recommended. The matter is likely to be raised when Admiral Sureesh Mehta, General Deepak Kapoor and Air Chief Marshal F H Major meet defence minister A K Antony on Thursday.

Admiral Mehta said, ‘‘There are always anomalies in the pay commissions, which need to be corrected. We will take it up directly with the pay commission.’’ General Kapoor, in turn, said, ‘‘We are studying the proposals... We will come out with cogent suggestions to the defense ministry. There is always scope for improvement in everything.’’

Remember that, they will talk for only armed forces, not for civilians employees.

Monday, March 24, 2008

Here is the final report subbmitted to Finance Minister

Today, sixth pay commission submitted its much awaited final report to FM. 40 % pay hike is recommended by sixth pay commission to finance minister.

Justice B. N. Srikrishna has recommended over 40 percent hike in the basic salary for the government employees at the senior level.

There will be a substantial hike for government employees in other categories as well.
While the report suggested that DA (Dearness Allowances) to be hiked to 14% of basic pay, HRA in Mumbai, Delhi will remain unchanged at 30% of the basic salary. The government has also decided to merge 50 per cent of the Dearness Allowances (DA) in the basic pay of its employees. The Pay Commission report will benefit 55 lakh Central Government employee, which might the cost the government Rs.13,000 - Rs. 16,000 crore per annum. The commission was set up by government in 2006.

Here is the some details of sixth pay commission report

1) Lowest Salary - Rs. 6,600/
2) Education Allowances for employees having two children - Rs. 1,000/ (Earlier, it was Rs. 100/)
3) Highest Salary - Rs. 90,000/ (Cabinet Secretary)
4) National Holidays - 3
5) Gazetted Holidays to be canceled
6) Pay hike will be implemented from January 01, 2006
7) Maternity Leaves: 6 Months
8) Employees living in A-1 Cities - 30% HRA (Unchanged)
9) Employees living in A, B, B-1 Cities - 20% HRA
10) Incentive Schemes will be announced
11) New Medical Insurance Scheme to be launched for government employees
12) Market-driven pay for scientists and all other jobs that require professional skill set.
13) Total number of grades to be reduced from 30 to 20.

Friday, March 21, 2008

TOI latest news on sixth pay commission

TOI published some points of sixth pay commission report(about 52% hike in salary), which they got from their "internal source". TOI assumes that report will be submitted before next Tuesday. The main part of this TOI articale is as follows.

indications are that a secretary to the government will have a basic salary of Rs 80,000 a month (up from Rs 26,000 with 50% merged dearness pay and 47% DA).

The Cabinet Secretary, the country's seniormost officer, is likely to have a basic of Rs 90,000 (up from Rs 30,000 with 50% merged dearness pay and 47% DA).

The across-the-board hike could be paler compared to the pay commission's fifth edition (1997), the best bounty so far, as the proposed quantum of hike now is a few percentage points (just around 0.40) lower. But the good news is that a government employee could, sources said, now look forward to higher annual increments, besides the regular addition of DA, which is now an annual average of 12%. As expected, the commission may slash the number of scales to 18 from the present 33, to facilitate accounting and uniformity across various employees and officers.

A likely implication for senior officers in A1 cities (Delhi, Mumbai, Kolkata, Chennai, Bangalore and Hyderabad) could be that government accommodation might not seem as attractive as before because their HRA may rise substantially.

At the minimum entry level (Group 'D'), a government employee is likely to get Rs 8,000 now while the highest starting pay in non-gazetted grade (Group 'C') could be Rs 20,000.

The expected starting pay for gazetted Group 'A' and Group 'B' officers could be Rs 26,000 and Rs 22,000 respectively.

Pay at the highest government (secretary) level is likely to be Rs 80,000. At present, a Group 'A' officer gets around Rs 18,000 at entry (12% HRA in A1 cities is extra). These scales would have higher annual increments

Wednesday, March 19, 2008

No Interim Relief for Central Govenmet Employees

It is now clear that there will be no interim relief for Central Government Employees in sixth pay commission. This is reported by various news channel like CNBC TV18 and CNN IBN news channel, they reported it with confidence.

The reason is obviously to save money expenditure of Government. Also, time is very near to implement 6th pay commission (hopefully in August 2008). So instead of giving Interim relief, government are trying to implement SPC recommendation as soon as possible (doubtful) . But the main problem is 6th pay commission has still not submitted its most awaited report. Its tenure will be ending on july 4th 2008. Will they submit report within 10-12 days from now? Nobody knows.

Tuesday, March 18, 2008

most updated and correct news of sixth pay commission

If you want to get all news related to sixth pay commission as quick as it is available on web, just use Google Alert to get all latest news at your email.

Google Alert will send you the link and some content of any recent web page that just discussed about 6th pay commission. This is a most useful and powerful method to get any news related to your interest without wasting your useful time on surfing the web to get latest useful news.

This will also help you to keep away old stuff about sixth pay commission.

Thursday, March 13, 2008

Arrears wll be given in INSTALLMENT

If you have any big planning of investment in share market after implementation of sixth pay commission report with extra money from arrears, you will be disappointed to know that you may not get full arrears amount in a lump sum.

Arrears may be paid to central government employees in installment after implementing 6th pay commission report. This is speculated at spacial report on 6th pay commission on CNBC Aawaz TV channel (13.03.2008).

In this program, it is also speculated that pay hike will be around 33% and arrears will be effective from January 2006. According to this TV program, payment of arrears in installment will reduce sudden load on government budget.

Wednesday, March 12, 2008

Retirement age may increase to 62 year from 60

It is expected that in sixth pay commission recommendations there will be provision for increasing of retirement age of government employees to 62 years from 60. Sixth pay commission called some senior bureaucrats to give a presentation for it. Increasing retirement age of central Government employees would help the government in postponing its pension liabilities by two years. Final proposal will require approval from Government. In last pay commission (5th pay commission ) Government increased the retirement age from 58 year to 60 year for the same reson.

Wednesday, March 5, 2008

6 percent DA may increase for central govenment employees

Before sixth pay commission implementation, 6% increase of DA (dearness allowance) for central government employees is another good news if cabinet will approve this.

If it will be implimented, DA (dearness allowance) will increase to 47 percent from current 41 percent. Earlier increase was done on September 2007.

This increase will be implemented from January 2008 (If it will be approved). Increase in DA is normal process, but central Government employees are much interested in 6th pay commission implementation as soon as possible.

Pay hike may cost 20000 Crore Rs

It is expected that 6th pay commission implementation will share 0.4 % of Indian GDP, according to Finance Secretary D Subbarao. This data is based on fifth pay commission in which pay hike impacted 0.4 % of GDP.
Indian GDP will be roughly 53,03,800 crore in 2008-09 as expected in Budget 2008-2009. From this estimate, sixth pay commission implementation may cost around 20,000 Crore Rupees, which is far less then Rs 60,000 Crore, sanctioned for the complete waiver of loans for small and marginal farmers.

Sunday, March 2, 2008

Get Recommended pay scale befor 31 march 2008

Do you want to know what will be sixth pay commission recommended pay scale for Government employee after Pay revision by implementing the 6th pay commission recommendation? You need to wait upto maximum 31 march 2008. During Budget 2008-09, Finance Minister P Chidambaram told that it will be submitted by 31st march 2008.
Finance Minister P Chidambaram hope that new pay scale will match the expectation of Government employees.

Finance minister P Chidambaram has not separated money from budget 2008-09 for extra money load by implementing sixth pay commission recommendations (As far as i know). Mr. Lalu prasad has separated money for railway employee to implement pay commission recommendations.

Well.. path is still not short. After submission of report, it need to approve in parliament. This may take a long time. So the final picture is you have to wait for some more long time.