What is Pay Commission in India?
Pay Commission is set up by Government of India, and gives its recommendations regarding changes in salary structure of its employees set up in 1947, Since India’s Independence, seven pay commissions have been set up on a regular basis to review and make recommendations on the work and pay structure of all civil and …
What is Pay Commission Meaning?
Commission is a sum of money that is paid to an employee upon completion of a task, usually the task of selling a certain amount of goods or services. It can be paid as a percentage of the sale or as a flat dollar amount based on sales volume.
What are the recommendations of 7th Pay Commission?
The Pay Commission has recommended a uniform Fitment Factor of 2.57 for all employees. The fitment factor pertaining to the 7th Central Pay Commission is likely to be set at 3.00 times from an earlier 2.57 times.
How is salary calculated in 7th Pay Commission?
How to calculate the 7th CPC revised pay scale?
- Step 1: Check your basic pay (including grade pay) as on 31.12.2015.
- Step 2: Multiplication by a Fitment factor of 2.57.
- Step 3: Rounded off to the nearest rupee.
- Step 4: Go to Matrix Pay Table and select the Level corresponding to Grade Pay.
What is commission pay example?
Example: A sales rep earns a 25% commission on every product he sells. If, over the course of a year, he sells 30 products at $1,000 each, 20 products at $5,000 each, and 15 products at $10,000 each, he would earn $70,000 in commissions.
What are the 3 types of commissions?
COMMISSIONS
- COMMISSIONS. Straight | Graduated | Piecework | End of Page.
- Straight Commission. Straight Commission is calculated to be the person’s wage based solely on sales.
- Graduated Commission. Graduated Commission is calculated into a person’s pay in addition to his/her regular salary or wage.
- Piecework Commission.
How many examples of 7th Pay Commission are there?
7th Pay Commission – Fixation as per Option from 01.01.2016, Date of Promotion/Increment – 23 Examples by PCDA(O) PCDA(O) has uploaded a pdf file with 23 example on various scenario on implementation of 7th Pay Commission to Armed Forces Officers.
Should the 7th Central Pay Commission’s recommendations on pension revision be accepted?
Both the options recommended by the 7th Central Pay Commission as regards pension revision be accepted subject to feasibility of the implementation. Revision of pension using the second option based on fitment factor of 2.57 be implemented immediately.
What is the fixation of pay 01/07/2016 for Lt Col?
8000 1. Fixation of Pay 01/07/2016 40180 + 8000 48180 123822.6 = 123823 12A 127500 2. Increment 01/07/2017 12A 131300 EXAMPLE FOR THE RANK OF LT COL SUBSEQUENTLY PROMOTED TO COL (TS) OPTING TO 7TH CPC WEF 01/01/2016.
When was the 7th Pay Commission fixed under PCDA?
7th Pay Commission 7th Pay Commission – Fixation as per Option from 01.01.2016, Date of Promotion/Increment – 23 Examples by PCDA(O) October 3, 2017October 3, 2017 7th Pay Commission – Fixation as per Option from 01.01.2016, Date of Promotion/Increment – 23 Examples by PCDA(O)