Mumbai, April 22: Central government employees eagerly await good news about the Fitment Factor hike. After receiving the much-needed 4 per cent dearness allowance hike, the demand to raise the fitment factor rate has gained momentum. If reports are to be believed, the Central employees could receive another big gift soon: a Fitment factor hike and a decision is expected soon.

According to a report in India.com, the Fitment factor rate will likely be raised based on the 7th pay commission recommendations. As per the reports, the Fitment Factor rate could be hiked in 2024 before or after the Lok Sabha elections. Reports suggest that the Centre is considering its decision to revise the Fitment Factor rate, and if approved, it will boost the salary of government employees. 7th Pay Commission Good News Today: Haryana Hikes Dearness Allowance by 4% for State Govt Employees.

Interestingly, reports suggest that there could be a massive increase in the basic salary of government employees after the Fitment Factor revision. However, there has been no official announcement about the fitment factor hike. A decision regarding the Fitment factor rate could also be taken after introducing the new pay commission, which is expected to take place next year.

Central government employees are receiving a Fitmet Factor rate of 2.57 times. Government employees want the Centre to raise the fitment factor to 3.68 times from 2.57 times. If revised, the fitment factor hike could raise the minimum wage of a government employee from Rs 18,000 to Rs 26,000. 7th Pay Commission Likely to Be Last One, Government May Switch to New System to Fix Central Employees Salaries, Says Report.

If a government employee receives a basic pay of Rs 15,500 in 4200 Grade Pay, the total payment will be Rs 15,500×2.57 or Rs 39,835. However, revising the fitment factor hike to 3.68 times will massively raise the minimum wage of government employees. A 3.68 times fitment factor hike will raise the salary of a government employee by Rs 26000 X 3.68 = Rs 95,680.

(The above story first appeared on LatestLY on Apr 22, 2023 08:54 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).