On being 3.68, the salary will be Rs 95,680 (26000 X 3.68 = 95,680) i.e. Rs 49,420 will be benefited in the salary. Its 52 lakh employees will get 50000 to 96000 in basic salary.
Before Diwali, there has been an increase in the dearness allowance of central employees by 4 percent, travel allowance, 12% salary increase and other allowances and its benefits have also started getting from October. However, the decision on the outstanding DA arrears of 18 months is yet to be taken. Meanwhile, there is good news for the central employees. The fitment factor may increase once again before the upcoming elections. However, no official confirmation or statement has come out yet.
At present, under 7th pay commission, the employees are getting fitment factor of 2.57 and the basic salary is 18000. It is expected that it can be increased to 3.68 percent on the demand of the employees. In other words, the minimum basic salary can be increased to Rs 26000 by reducing the fitment factor to 3.68 per cent in the 8th Pay Commission. This will increase the minimum basic salary by 8000 and the basic salary will increase from 18 thousand to 26000.
How much will the salary increase
FOR EXAMPLE, IF THE BASIC SALARY OF A CENTRAL EMPLOYEE IS RS 18,000, THEN HIS SALARY EXCLUDING ALLOWANCES WILL BE RS 18,000 X 2.57 = RS 46,260 PROFIT. ON 3.68, THE SALARY WILL BE RS 95,680 (26000 X 3.68 = 95,680) I.E. IN SALARY 49,420 WILL BE BENEFITED. ITS 52 LAKH EMPLOYEES WILL GET BENEFITS FROM 50000 TO 96000 IN BASIC SALARY
Know why fitment factor is important
Actually, it is considered an important role in fixing the basic salary of central employees. The pay matrix made in the 7th Pay Commission is based on the fitment factor, in such a situation, the fitment factor is considered to be an important role in the salary received by the employees. Due to this factor, the salary of central employees increases by more than two and a half times. Last time in 2017 the entry level basic pay was increased from Rs 7000 to Rs 18000 per month.
Will 8th pay scale be applicable?
According to media reports, the 8th Pay Commission can also be implemented by 2024, the central government is considering it. However, the previous Union Minister of State for Finance, Pankaj Chaudhary, while replying in writing to the question asked during the Question Hour in the House, said that there is no proposal in front of the government to constitute the 8th Pay Commission. At present, the Seventh Pay Commission will continue and under this only dearness allowance and other allowances will be given to the employees including salary, pension. Although he did not completely deny that the 8th Pay Commission would not come.
New formula may also be considered
The late former finance minister Arun Jaitley had said in a speech in Parliament in 2016 that the government should consider the salary of the employees beyond the pay commission, there is a possibility that the Modi government can now bring a new pay commission or the employees. You can also consider the new formula for the salary of Rs. Or the central government can increase the salary based on the performance of government employees under private companies. For this, a new plan can be brought by 2024, it can be named ‘Automatic Pay Revision’, which will automatically increase the salary on 50% DA, although no official confirmation has been made by the government yet. .
