7th Pay Commission: Salary of Central Government Employees To Increase by Rs 49,420? Here's How Hike in Fitment Factor Will Impact Monthly Pay
At the current fitment factor rate, the salary of a government employee is Rs 18,000 X 2.57 = Rs 46,260. If an hike is approved to that of 3.68 times then the salary of a government employee will be Rs 26,000 X 3.68 = Rs 95,680.
Mumbai, November 25: It seems there would be alot of good news coming in for Central government employees who are eagerly awaiting to news about HRA hike and DA arrears. Amid all of this, the Centre is also likely to take a decision on increasing the fitment factor of its employees. As per reports, a decision on the hike in fitment factor is likely to be take by the end of 2023.
Since a long time, central government employees are demanding a hike in the fitment factor under the 7th Pay Commission recommendations. According to reports, central government employees are demanding an increase in fitment factor from 2.57 times to 3.68 times. 7th Pay Commission: Good News for Central Government Employees, HRA Hike To Be Announced Soon; Here's How Much Raise Is Expected.
It must be noted that the Fitment Factor is the modification of Basic Salary (Basic Pay) by the specific element given to all central government employees under the 7th CPC. While the Centre recently hiked the DA by 4 percent, the demand for raise in fitment factor is also gaining momentum. If reports are to be beloved, the government is likely to take a decision on the same by 2023 end.
At present, the fitment factor of government employees is 2.57 as per 7th CPC. It must be noted that if the Centre approves the fitment factor hike then the salary of government employees is also likely to increase. Central government employees who are presently receiving a fitment factor of 2.57 want it to be raised to 3.68 times.
At the current fitment factor rate, the salary of a government employee is Rs 18,000 X 2.57 = Rs 46,260. If an hike is approved to that of 3.68 times then the salary of a government employee will be Rs 26,000 X 3.68 = Rs 95,680. Similarly, if the Centre accepts 3 times fitment factor hike then the salary of a government employee will be Rs 21,000 X 3 = Rs 63,000. 7th Pay Commission: When Will HRA Hike Be Announced? Govt Employees Likely To Receive Double Bonanza After DA Hike.
Meanwhile, reports also suggest that the government is likely to announce the next DA hike by March 2023, which is three months from now. The Centre is likely to increase the DA from 38 percent to 42 percent.
(The above story first appeared on LatestLY on Nov 25, 2022 02:48 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).