Good News For Government Employees! Salary will Increase From 49000 to 95000
The government employees are likely to get a good news as the government of India may approve of increasing their fitment factor under the 7th Pay Commission in the month of August 2022.
It is expected that employees can get many big gifts before Raksha Bandhan, due to which salary will increase from 49000 to 96000. 52 lakh employees will get the benefit of this.
Good News: Fitment Factory Will Increase From 2.57 to 3.68
According to latest media reports, in August, the Modi government at the Center can take a decision on increasing the fitment factor along with dearness allowance and DA arrears. There is a possibility that the fitment factor can be increased from 2.57 per cent to 3.68 per cent.
The central government employees unions have long been demanding for hiking minimum pay of Rs 18,000 to Rs 26,000 and fitment factor be raised from 2.57 times to 3.68 times.
If the government approves the demands, the employees can see a big increase in their salary from September 1 onwards. The minimum wage may increase from Rs 18000 to Rs 26000 in total. As a result, one’s basic salary may increase to Rs. 8000 in a month and Rs. 96000 in a year.
Fitment Factor Salary Calculation
- The minimum pay scale under 6th Pay Commission was Rs 7,000 with fitment factor 1.86 times and increment 54%.
- Under the 7th Pay Commission, the minimum pay scale has reached Rs 18,000 with the fitment factor being 2.57 times and the increment 14.29%.
- Now if the fitment factor is 3.68 times under the 8th Pay Commission, then the minimum pay scale will be 26,000.
- 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 = profit of Rs 46,260.
- 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.
(These figures are shown as an example, they are subject to change.)