7th Pay Commission: Decision on Fitment Factor Hike Likely Before Budget 2023, Check Latest News Updates Here
If the fitment factor hike is approved and raised to 3.68 times then the salary of government employee's will get a huge boost. A 3.68 times hike will raise the salary to Rs 26,000 X 3.68 = Rs 95,680.
Mumbai, December 23: Central government employees are likely to receive some good news as the Narendra Modi-led cabinet is most likely to take decisions on HRA hike, DA hike and Fitment Factor soon. According to reports, the Centre is likely to take some major decisions ahead of the Union Budget 2023. If all goes well, then the long pending demand of fitment factor will also get approved.
However, the Centre has not given any official confirmation on the fitment factor hike as yet. If reports are to be believed, the he central government will take a final decision on increasing fitment factor hike along with DA arrears before the general budget is presented on February 2023. 7th Pay Commission Good News: After 4% DA Raise, Centre To Take Decision on HRA Hike Soon; Here’s How Much Increase Is Expected.
Since a long time, central government employees have been demanding a raise in fitment factor, which will be raised based on the recommendations of the 7th Pay Commission. Government employees want the Centre to raise the fitment factor hike from 2.57 times to 3.68 times. If the Centre increases the fitment factor, then the salary of central government will also raise.
At present, central government employees are receiving a fitment factor of 2.57 times. Currently, the salary of central government employees is Rs 18,000 X 2.57 = Rs 46,260. If the fitment factor hike is approved and raised to 3.68 times then the salary of government employee's will get a huge boost. A 3.68 times hike will raise the salary to Rs 26,000 X 3.68 = Rs 95,680. 7th Pay Commission News Today: Will Government Hike DA By 4% in New Year 2023? Check Latest Updates Here.
Similarly, if the Central government accepts three times fitment factor hike for its employees then the salary of a government employee will be Rs 21,000 X 3 = Rs 63,000. Meanwhile, the Centre recently clarified as to why they did not release the 18-mont DA arrears of government employees.
(The above story first appeared on LatestLY on Dec 23, 2022 12:52 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).