Vinati Organics invests Rs 41 cr in Veeral Organics
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India.com
16 minutes ago
- India.com
8th Pay Commission big update: What will the gross salary of Level-6 employees with basic pay, fitment factor, HRA, TA?
Representational Image 8th Pay Commission salary calculator: Millions of Central government employees are eagerly awaiting the announcement and the implementation of the 8th Central Pay Commission (CPC), and many are wondering how much their net salaries will increase after the 8th CPC comes into effect. Level-6 (Grade Pay-4200) employees currently have a basic salary of Rs 35,400, here's how much increment they can expect after factoring in the fitment factor, allowances and deductions. How much salary will Level-6 employees get after 8th CPC? Akin to previous pay commission, the key to finding out your future salary is the fitment factor, which was 2.57 in the 7th Pay Commission, and based on estimates, will 1.92 for the 8th Pay Commission. Based on the fitment factor, the new basic pay for Level 6 central employees will be Rs 67,968, (current basic pay Rs 35,400 x 1.92 = Rs 67,968). So the basic pay of Level 6 employees will increase to nearly Rs 68,000, and various allowances will be added which will us the net monthly salary for this pay scale. Dearness Allowance (DA) will be reset to zero after the 8th Pay Commission is implemented as old inflation is adjusted in the basic pay itself, while House Rent Allowance (HRA) will be given to employees based on the cities, towns they reside in. For X-category cities like Delhi and Mumbai, employees can expect up to 30% HRA of the new basic pay, while Travel Allowance (TA) for major cities will be Rs 3,600, based on the current calculations. What will be the net salary? Based on the above calculations and basic pay of Rs 67,968, the monthly gross salary of Level-6 employees will be Rs 91,958, after adding Rs 20,390 HRA and Rs 3,600 TA. However, the in-hand salary of net monthly salary will not be same and can only be calculated after factoring in the deductions. NPS deduction equals 10% of your basic pay + DA, which translated to Rs 6,797 for Level 6 employees, while the estimated CGHS Deduction will be Rs 450, so your estimated net salary will be Rs 84,711 per month (Rs 91,958 – Rs 7,247). When will 8th Pay Commission be implemented? If we go by the implementation of previous pay commissions, it usually takes about 18 to 24 months for the government to implement the recommendations. Thus, its unlikely that 8th Pay Commission would be implemented before mid-2027. Currently, 7th Pay Commission recommendations are in force, and will remain so till December 2025. A new pay commission is constituted every 10 years which tenders suggestions for revision of salary and pension of central government employees and pensioners in wake of the prevailing economic scenario in the country. The 8th Pay Commission was announced by the Union government in January this year.
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Business Standard
16 minutes ago
- Business Standard
Defence MSMEs must maintain quality to join global supply chain: BEL chief
Micro, Small and Medium Enterprises in the defence and aerospace sectors must adhere to stringent quality standards to become part of the global supply chain, Bharat Electronics Limited chairman and managing director Manoj Jain said on Saturday. Speaking at the curtain-raiser of the 7th edition of the India Manufacturing Show (IMS), billed as the 'Aerospace & Defence Engineering Expo', Jain stressed the importance of quality and certification. "MSMEs must align with stringent quality and certification standards if they are to be part of the global supply chain," he said, adding that flexibilitywithout compromising regulatory complianceis essential from both large industries and MSMEs. "This calls for a mindset change across the ecosystem," he noted. IMS 2025 is being organised by Laghu Udyog Bharati-Karnataka in association with the IMS Foundation. The international expo, scheduled to be held from November 6-8 at the Bangalore International Exhibition Centre, will showcase core manufacturing verticals, including defence and aerospace. Defence Minister Rajnath Singh will inaugurate the event, which is expected to generate business leads worth Rs 450 crore, according to a press note. Key Union Cabinet members, including H D Kumaraswamy, Minister of Heavy Industries and Steel, and Pralhad Joshi, Minister for Consumer Affairs, Food and Public Distribution and New and Renewable Energy, are also expected to attend. The three-day event will feature B2B interactions, international trade collaborations, technology transfers, joint ventures, and engagements with policymakers, CEOs, scientists, and domain experts.
Time of India
24 minutes ago
- Time of India
Illegal mining: Ed attaches assets worth over 17.5 cr
1 2 Chandigarh: The Directorate of Enforcement (ED) has provisionally attached immovable assets worth Rs 17.68 crore in a case related to alleged illegal mining carried out in the Dadam hill area of Tosham village in Bhiwani district by M/s Goverdhan Mines and Minerals, M/s Sunder Marketing Associate, Vedpal Singh Tanwar, Raman Sokhal, and others under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The entire operation was carried out last week, an ED official informed on Saturday. The ED had initiated an investigation into the case following a prosecution complaint filed by the Haryana State Pollution Control Board (HSPCB) under the Environment Protection Act, 1986. Subsequently, the Haryana Police also registered an FIR under various sections of the IPC against M/s Goverdhan Mines and Minerals (GMM), M/s Sunder Marketing Associates (SMA), and its partners, including Vedpal Singh Tanwar, Raman Shokhal, and others. The ED investigation revealed that M/s Goverdhan Mines and Minerals and M/s Sunder Marketing Associates undertook mining activities at Dadam mines, Bhiwani, from 2017 to 2022, wherein they were involved in illegal and unscientific mining to the tune of more than Rs 1,200 crore, causing a loss to the govt exchequer and corresponding gains to themselves. The probe also revealed that the mining tender was allotted to the proprietorship firm M/s Sunder Marketing Associates, in which Naveen Goel was the proprietor. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Resmed AirSense 11 with flat 20% off ResMed Buy Now Undo To dupe the govt, another partnership firm with a similar name, i.e., M/s Sunder Marketing Associates was created by Raman Sokhal and others, and complete mining was done fraudulently without informing or taking permission from the Haryana mining department. The investigation further revealed that the proceeds of crime acquired by Goverdhan Mines and Minerals through illegal and unscientific mining were used to acquire movable and immovable properties. During the investigation, assets of the accused worth Rs 56.97 crore were attached provisionally via an order dated Sept 27, 2024, and a criminal prosecution complaint was filed before the Special Court under the PMLA, said the ED official. During further investigation, efforts were made to trace and attach the balance proceeds of crime, said the official, adding that assets worth Rs 17.68 crore were attached via an order dated July 28. Thus, proceeds of crime worth Rs 74.65 crore have been attached so far in the matter. The official further said the probe against M/s Sunder Marketing Associates and its owners – Raman Shokhal and others – was in progress and assets of the accused worth Rs 25.16 crore had been attached so far. MSID:: 123064011 413 | Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
