The new pay scales will be notified by MHRD within this week. The notification will be based on this document.
Thanks to six of my colleagues, who pointed to two main articles on this, which are reported in The Telegraph and the comment section on the pay panel hub. I do not know anything else !
The main points for IIT/IISc/IIM are as follows:
Assistant Professor: Existing persons in the 12000-18300 up to the level of 15780 will be moved to Rs.30,000 in PB3 with AGP of 8000. All new recruits will be placed at Rs.30,000 in PB3 with AGP of 8000. Movement to Associate professor from assistant professor requires minimum three years of service as assistant professor and six years experience.
Associate Professor: Existing persons with 16400-to-20000 up to the level of 18,200 will move to minimum of 42800+9500. To become professor, one has to serve at least ten years of experience.
Professor: Existing persons in the 18400-to-22400 up to the level of 20,400 will be placed at 48000+10500. 40% of the professors who are in 10500 AGP for 6 years will move to 12000 AGP.
Director: Rs. 80,000
Please see here for more details on allowances and other benefits.
The following scales were sent by email to me. I do not know how accurate they are but they seem to be consistent with the rest of the recommendations.
Deputy Director: Rs. 75,000
Senior Professor: All the existing persons in the 22,400- will be placed at a minimum of 54000+12000.
The following is the fitment table. AGP for each scale has to be added. They are 8000, 9500, 10500 and 12,000 for Assistant Professor, Associate Professor, Professor and Senior Professor, respectively. The fitment table for UGC is here.