7th Pay Commission: Centre Likely To Increase Fitment Factor From 2.57 to 3.68 Times After Cabinet Meeting on May 26
The boost in the fitment factor is expected to benefit lakhs of Central government employees.
Mumbai, May 25: In what could be good news for lakhs of government employees, the Central government will meet on Wednesday in order to make a decision on the long-standing demand to raise the fitment factor. If reports are to be believed, the cabinet meeting on May 26 will also decide on staff demands and misery.
For a long time, Central government employees have been demanding a hike in the fitment factor. The employees have urged the government to increase the fitment factor from 2.57 to 3.68 times. If the Centre approves the hike in fitment factor, then the minimum pay of the employees will increase from Rs 18,000 to Rs 26,000. 7th Pay Commission: Cabinet Approves Release of Dearness Allowance; 47.68 Lakh Central Govt Employees, 68.62 Lakh Pensioners To Benefit.
The boost in the fitment factor is expected to benefit lakhs of Central government employees. At present, the employees receive a basic salary of Rs 18,000 under the fitment factor of 2.57 times. If increased to 3.68 times, the minimum pay will become Rs 26,000 thus resulting in a rise of Rs 8.000.
How the Fitment Factor will be calculated:
The minimum payment will increase to Rs 26,000 only if the fitment ratio is increased to 3.68 times from 2.57 times. Going by the 2.57 fitment factor, if the minimum salary is Rs 18,000 then one will receive Rs 46,260 (18,000 X 2.57 = 46,260). Similarly, if the fitment factor is increased by 3.68, then the basic salary will increase to Rs 95,680 (26000X3.68 = 95,680). Amazon Sells Bucket for Rs 26,000 After Discount, Baffled Netizens Ask 'What Kind of Loot It Is'.
In 2017, the Union Cabinet approved the recommendations of the 7th Pay Commission with 34 modifications. Hopefully, the official announcement should come tomorrow after the cabinet meeting is over.
(The above story first appeared on LatestLY on May 25, 2022 07:03 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).