New Delhi, February 4 (IANS): The government Tuesday announced setting up of the Seventh Central Pay Commission under the chairmanship of retired Supreme Court judge Ashok Kumar Mathur to review the salaries of over 5 million employees. The panel will submit its report in two years and the recommendations would be implemented from Jan 1, 2016, a finance ministry statement said. Prime Minister Manmohan Singh has approved the composition of the Commission that has one full-time and one part-time member, besides the chairman, the statement added.