7th Pay Commission: There is good news for Central Government employees. There may be a bumper jump in salary soon.Â
According to media reports, after getting dearness allowance, then HRA and TA promotion, now the increase in fitment factor is also believed to be fixed.
The Modi government at the Center may announce an increase in the fitment factor after Holi. Preparations are in full swing to increase the fitment factor to the minimum basic salary from Rs 18,000 to Rs 26,000.
According to media reports, after the assembly elections and the model code of conduct in five states, the Modi government can announce the fitment factor by bringing its proposal in the cabinet. This will benefit about 52 lakh employees.
Presently the fitment factor is 2.57 per cent and the employees association is demanding to increase it to 3 per cent. It is expected that it can be increased to 3.68 percent.
With the increase in fitment, there will also be a bumper increase in the minimum wages of central employees. With this, the basic salary of the employees will get the benefit of 8000 and the minimum salary will be 26000.
According to media reports, according to sources, there has been a long discussion between the Modi government of the Center and the Employees’ Association regarding this matter and everything has been almost decided.
Last year, the employees union had also met the Cabinet Secretary and he had also received assurance that the government is considering the fitment factor.
Now only the announcement of the government is awaited. It is expected that soon this proposal can be given a green signal by bringing it in the cabinet.
Understand the full account of salary like this
- The basic salary of the employee is calculated by multiplying the fitment factor 2.57 of the 7th Pay Commission (7th Pay Commission latest update).
- For example- If the basic salary of a central employee is Rs 18,000, then his salary excluding allowances will be 18,000 X 2.57 = Rs 46,260. Assuming the same 2.57 to be 3, then the salary will be 21,000X3 = Rs.63,000.
- If the fitment factor 3.68 hike increases from 2.57 to 3.68, then the same salary will be Rs 95,680 (26000X3.68 = 95,680). This would mean an increase of Rs 49,420 in the overall salary of the employees.
- If the fitment factor 3 is 3 times from 2.57 per cent, then the basic pay of the employees will increase from Rs 18,000 to Rs 21,000, which means it will increase by Rs 3000. If the same happens to be 3.68 percent, then the salary will increase up to 96 thousand.
