7th Pay Commission Latest News Today: Centre Likely To Raise Fitment Factor Rate by This Date, Know How Much Salary Will Increase; Check Details
Currently, government employees are receiving a Fitment Factor rate of 2.57 times. They want the Central government to raise the fitment factor rate to 3.68 times from 2.57 times.
Mumbai, March 29: After receiving a 4 per cent DA hike, Central government employees under the 7th pay commission eagerly await good news about the Fitment Factor rate. The Centre is expected to raise the Fitment Factor hike by the end of this month, however, there has been no official announcement as yet.
Earlier, a report in News18 had said that the Centre could revise the Fitment Factor rate by March 31. Central government employees under the 7th pay commission have been demanding to raise the fitment factor rate for a long time. The rumours around the fitment factor hike are garnering attention after the Centre cleared that it won't be releasing DA arrears of its employees. 8th Pay Commission To Replace 7th Pay Commission Soon? Centre Likely To Announce Implementation of New Pay Commission in 2026; Check Latest News Update.
Currently, government employees are receiving a Fitment Factor rate of 2.57 times. They want the Central government to raise the fitment factor rate to 3.68 times from 2.57 times. If the Centre approves the Fitment Factor rate then the minimum wage of government employees will also rise from Rs 18,000 to Rs 26,000.
A 3 times fitment factor approval will raise the salary of government employees to Rs 18,000 X 2.57 = Rs 46,260. Similarly, if the Fitment Factor rate of 3.68 times is approved, then the salary of an employee will be Rs 26000 X 3.68 = Rs 95,680. In a similar way, if the government accepts a three times fitment factor rate then the salary of an employee will be 21000 X 3 = Rs 63,000. 7th Pay Commission: How Pension And Salary Will Increase After 4% Dearness Allowance Hike? Check Latest News Update Here.
Amid all of this, reports also suggest that the Centre could give a big gift to its employees by introducing a new pay commission and replacing the existing 7th pay commission. As per reports, the Narendra Modi government could bring in the 8th pay commission in 2024 after the Lok Sabha elections. They could also implement the new pay commission in 2026.
(The above story first appeared on LatestLY on Mar 29, 2023 04:48 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).