7th Central Pay Commission – Justification for a minimum wage of Rs. 26,000 – Karnataka COC
Confederation of Central Government Employees and Workers of Karnataka State General Secretary Shri. P.S. Prasad published an article about the justification of minimum wage of Rs.26000. He also said that the fitment formula may range from range from 2.72 times to 3.72 depending upon the weightage in 7th Pay Commission. The complete text of the article is reproduced and given below for your ready reference…
Minimum Wage of Rs 26,000/- Justified and Fitment formula
The DIRECTORATE OF ECONOMICS & STATISTICS DEPARTMENT OF AGRICULTURE & COOPERATION MINISTRY OF AGRICULTURE GOVERNMENT OF INDIA NEW DELHI has published the RETAIL PRICES OF FOOD AND NON FOOD ITEMS VIDE https://rpms.dacnet.nic.in/ PLEASE GO THROUGH THIS IMPORTANT LINK. which contains a 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 a weightage of 25% for Group “C” it works out to Rs 26,000/-.
Please click here for Minimum Wage Calculation Sheet
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 the Staff side of JCM, Today the minimum need-based wage works out to Rs 26,000/ per month.
More news visit : www.karnatakacoc.blogspot.in
Also Check: Central Government Pay Matrix Table 2022 PDF