Mumbai, April 13: Central government employees under the 7th pay commission are eagerly awaiting to hear good news about the Fitment Factor rate and the introduction of the 8th pay commission. After the Centre hiked the dearness allowance of its employees by 4 per cent last month, the demand to raise Fitment Factor has been gaining momentum. Additionally, government employees want the Centre to replace the existing commission with a new pay commission.

According to a report in Times Bulls, after the DA hike, the Centre could provide another gift to government employees in the form of a Fitment Factor rate. However, the report states that the government could increase the Fitment Factor rate in 2024. Reportedly, there are various rumours doing the rounds about the fitment factor hike. The report suggests that there will be no change in the fitment factor rate this year. 8th Pay Commission To Replace 7th Pay Commission Soon? Centre Likely To Implement New Pay Commission in 2026; Check Latest News Update.

However, there is also some good news for Central government employees. Reports suggest that the Centre is considering the decision to hike the fitment factor rate but it will be announced only in the coming year. If approved, the fitment factor hike will boost the salary of government employees. Discussions regarding the raising of the fitment factor hike are underway and the decision could be taken before the 2024 Lok Sabha elections.

How Much Fitment Factor Rise Is Expected?

Government employees under the 7th pay commission want the Centre to raise the fitment factor rate to 3.68 times from 2.57 times. At present, government employees are receiving a fitment factor at 2.57 times the rate which they want to be raised to 3.68 times. If the government approves the fitment factor hike then the minimum wage of its employees will raise from Rs 18,000 to Rs 26,000. 7th Pay Commission DA Hike News: Bihar Cabinet Approves Rules for Hiring School Teachers, 4% Dearness Allowance Hike.

At present, a government employee is receiving a 2.57 times fitment factor hike as per which his salary is Rs 18,000 X 2.57 = Rs 46,260. However, this will change if the Centre accepts a 3.68 times fitment factor hike demand. A 3.68 times fitment factor rate will increase the salary of a government employee by Rs 26000 X 3.68 = Rs 95,680.

(The above story first appeared on LatestLY on Apr 13, 2023 03:35 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).