Fixation of pay in the revised pay structure: The pay in the applicable Level in the Pay Matrix shall be the pay obtained by multiplying the existing basic pay by a factor of 2.57, rounded off to the nearest rupee and the figure so arrived at will be located in that Level in the Pay Matrix and if such an identical …
What is revised pay scale?
“revised pay structure” in relation to a post means the Pay Matrix and the. Levels specified therein corresponding to the existing Pay Band and Grade. Page 3. Pay or scale of the post unless a different revised Level is notified separately.
What is the difference between grade pay and basic pay?
Basic pay is the minimum sum of earnings that an employee stands to receive. Government employees, apart from basic pay, also receive grade pay, which is calculated depending on the category or class of the employee. The total of basic pay and grade pay is used in assessing dearness and other allowances.
Which is the Fitment Factor of the revised pay package?
Fitment factor or Index of Rationalization is 2.67 for AGP less than Rs.10,000 and 2.72 for the AGP of Rs 10,000 and above. On January 1, 2016, the existing pay (Existing Pay in Pay Band + AGP0 in the pre-revised pay as on 31st December, 2015 shall be multiplied by a factor of 2.57.
How is basic salary calculated in a salary package?
Given that it is the base income, basic salary is used to calculate other constituents of the salary. Several components of a salary package may be calculated based on the basic salary amount (on the basis of the grade of an employee within a company’s salary structure).
Is it true that 7th CPC has abolished grade pay?
Since 7th CPC has abolished pay band and grade pay and subsumed grade pay in pay scales using different fitment factors.Recommendations of 7th CPC appears genuine to a great extent but should be looked into seriously if anomaly exists there in the pay scales of teachers.
What was the decision of 7th Central Pay Commission?
OM No.38/37/2016-P&PW (A) dated 12.5
