7th Pay Commission: Revision in pay hike of FTII employees' gets green signal from govt
Union Cabinet on June 28, among many recommendations under the 7CPC, also approved raising the minimum pay from Rs 7,000 to Rs 18,000 per month and fitment factor to 2.57 times.
The Finance Ministry has given its approval for the proposal on pay hike of employees of the Film and Television Institute of India (FTII) as per 7th Pay Commission, as per media reports.
Also on November 05, Anupam Kher the Chairman of the Film and Television Institute of India (FTII) tweeted saying, "Happy to share that the proposal to implement recommendations of 7th Pay Commission in @FTIIOfficial has been approved by the Ministry."
After the revision in pay scale, the institute would get to spend about Rs 20.4 crore per annum on salaries of FTTI employees, reported in India.com.
Reportedly, this approval comes as a major relief for FTII employees working permanently as they had claimed that a "goof up" in pay scale upgradation had caused them inconvenience and loss of funds.
Around 18.9 crore per annum salaries have been spent by FTII currently on somewhat 166 staffers - after the revision it would now be eligible to spend extra Rs 1.5 crore every year, added reports.
Meanwhile, in regards to minimum pay hike beyond 7th Pay Commission of about 48 lakh central government employees, it is expected that the National Anomaly Committee (NAC) will hold a meeting anytime in December 2017 - to discuss the matter.
The NAC committee which is headed by Secretary, Department of Personnel and Training (DoPT) and has members of both the official and staff side - was given the job to take final call on this matter.
It is being expected that the government may increase the minimum salary to Rs 21,000 from existing recommendation of Rs 18,000 per month. While the fitment factor to be raised to 3.00 times from existing 2.57 times.
There were many media reports stating that PM Narendra Modi - government has finally given a green signal for the hike in minimum pay and fitment factor. They want this to take place by January 2018.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
02:11 PM IST