7th Pay Commission News Today: Double Bonus for Central Employees, Hike in DA and Fitment Factor Likely To Be Announced by September End
The central government is likely to announce the DA hike by the month's end. According to reports, a big announcement can be made on the fitment factor by the September end as well.
Mumbai, September 9: Several states have gifted their employees with an increase in Dearness Allowance (DA) during this festive season. Amid this, the central employees who are waiting for the Dearness Allowance (DA) hike may also get good news soon. The central government is likely to announce the DA hike by the month's end. According to reports, a big announcement can be made on the fitment factor by the September end as well.
If the fitment factor increases, the minimum basic pay of the employees will increase significantly. Currently, employees are getting salaries under the fitment factor on the basis of 2.57 percent, which if increased to 3.68 percent, there will be an increase of Rs 8,000 in the minimum salary of the employees. If changes are made in the fitment factor, then the minimum basic pay of employees will directly increase from Rs 18,000 to Rs 26,000. 7th Pay Commission News Today: When Will Centre Announce Hike in DA and DR for Government Employees? Check Latest Update Here.
Central employees were expecting an increase in fitment factor ahead of the start of the new financial year, but it did not happen. If sources are to be believed, the Central Government may soon make changes in DA and fitment factor for the employees. However, the central government is yet to make an official statement.
The fitment factor is a figure used by the 7th Pay Commission to decide the salaries of employees. The basic pay in the 6th Central Pay Commission regime (Pay in Pay band + Grade pay) is multiplied in order to fix basic pay in the revised pay structure. The fitment factor formulated by the 7th Central Pay Commission is 2.57.
(The above story first appeared on LatestLY on Sep 09, 2022 04:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).