Fitment Factor Hike: In the coming days, central employees can get another big gift and this is the fitment factor. A decision can be taken by the government to increase it next year.
7th Pay Commission: The notification for the increase in dearness allowance for central government employees and pensioners has been issued by the Finance Ministry. The government has approved a 4 percent hike in the dearness allowance to be implemented from January. Along with this, pensioners and employees will now get 42 percent dearness relief and dearness allowance, earlier it was 38 percent. In the coming days, central employees can get another big gift and this is the fitment factor. A decision can be taken by the government to increase it next year.
Decided to review
When the elections to be held in 2024 are near, a stir has started regarding this. The latest update on the Fitment Factor of government employees is that the government has decided to review it. After the review, the employees are likely to get good news on this also by next year. Due to this change, there will be a tremendous increase in the basic salary of the employees. Sources claim that in 2023, there will be no change regarding the fitment factor.
Will increase based on review in 2024
It is expected that in 2024 it will be increased on the basis of review. No official information has been given on this by the government. This will be considered by the Department of Expenditure. The recommendations given on the basis of the review can be sent to the Ministry of Finance. The decision on the fitment factor can be taken at the time of formation of the new pay commission next year. The government is trying to take a decision on increasing the salary on the demand of the employees.
Possible increase in fitment factor
The basic salary of central employees increases on the basis of the fitment factor. According to the recommendation of the 7th Pay Commission, apart from Salary Allowances, the salary of central employees increases only by the fitment factor in Basic Salary. Earlier, due to the increase in the fitment factor, the salary of central employees had increased two and a half times. Now the employees are again demanding to increase the fitment factor. He says that it is necessary to increase the basic salary and total salary.
By how much will the basic salary increase?
At present, according to the Seventh Pay Commission, the fitment factor of the employees is 2.57. If there is a change in this, then there is a change in the entire salary. There has been a demand for increasing it to 3.68 for a long time. At present, on the basis of fitment factor 2.57 times and basic salary of Rs 18000, excluding other allowances, Rs 18,000 X 2.57 = Rs 46260. But if it is increased to 3.68, then excluding other allowances, the salary of the employees will be 26000 X 3.68 = Rs 95680.
