Articles you may Like
7th Pay Commission fitment formula to be in the range of 2.72 times to 3.72 times and Minimum Wage of Rs. 20,000 fully justified – Confederation, Karnataka State
Confederation of Central Government Employees and Workers, Karnataka State has published a note in its official site to the effect that retail prices taken into account by confederation for calculation of Minimum wage calculation presented before 7th Pay Commission are much lower than the retails prices statistics published by Govt. Hence, demand for Minimum wage of Rs. 20,000 presented by Confederation before 7th Pay Commission is fully justified.
The Karnataka State Confederation has also indicated that fitment formula likely to be adopted by 7th Pay Commission for fixing existing Central Government Employees in the revised 7th CPC pay structure will be in the range of 2.72 times to 3.72 depending upon the weightage.
The Text of Note published by Confederation of Central Government Employees and Workers, Karnataka State is as follows
The DIRECTORATE OF ECONONMICS & STATISTICS DEPARTMENT OF AGRICULTURE & COOPERATION MINISTRY OF AGRILCULTURE GOVERNMENT OF INDIA NEW DELHI has published the RETAIL PRICES OF FOOD AND NON FOOD ITEMS VIDE http://rpms.dacnet.nic.in/ PLEASE GO THROUGH THIS IMPORTANT LINK . which contains district wise price report.
You can get any price of any article using the Query option.
The prices of many items provided by the Staff side JCM are lower than the retail prices provided by the Government agency . Hence the Minimum wage of Rs 20,000/- is justified for the erstwhile Group “D” with effect from 1/1/15 using Dr Aykroyd formula . After weightage of 25% for Group “C” it works out to Rs 26,000/- .
The fitment formula may range from 2.72 times to 3.72 depending upon the weightage.
The Sixth Central Pay Commission has recommended a minimum wage of Rs 6600/- per month against the demand of Rs 10,000/- per month as worked out by Staff side of JCM, Today the minimum need based wage works out to Rs 26,000/ per month.