7th Pay Commission: When Will Central Government Revise Fitment Factor For Its Employees? Check Latest News Update Here
The Finance Ministry has issued the notification for the increase in dearness allowance for central government employees and pensioners on 7th pay commission recommendations. This decision brought smiles to lakhs of employees and pensioners of central government.
Delhi, April 06: The Finance Ministry has issued the notification for the increase in dearness allowance for central government employees and pensioners on 7th pay commission recommendations. This decision brought smiles to lakhs of employees and pensioners of central government. Central employees can get another big gift regarding revision in Fitment factor and the decision can be taken by the government soon.
Zee News reported that with the Lok Sabha elections set to be held in 2024, there has been lot of talk regarding the Fitment factor revision. The report says that according to latest updates on the Fitment Factor of government employees, the government has decided to review it. After the review, the employees are likely to get good news on this by next year. Due to this change, there will be a big increase in the basic salary of the employees. The report also says that there will be no change regarding the fitment factor in 2023. 7th Pay Commission Good News: After Assam and Rajasthan, Jharkhand Government To Raise DA by 4%, Decision Likely During Cabinet Meeting on April 6.
It is expected that in 2024, the Fitment factor will be increased on the basis of 7th pay commission recommendations. However, no official information has been given regarding this by the government. The Department of Expenditure will consider the demands of the employees and the recommendations given on the basis of the review can be sent to the Ministry of Finance. The decision on the fitment factor can be taken at the time of formation of the new pay commission next year. The government is trying to take a decision on increasing the salary on the demand of the employees. 7th Pay Commission To Be Replaced by 8th Pay Commission? Employees' Union To Submit Memorandum for 8th CPC to Government Soon, 'Automatic Pay Revision System' May Be Introduced.
At present, according to the Seventh Pay Commission, the fitment factor of the employees is 2.57. With the revision of Fitment Factor on basis of 7th pay commission, the minimum salary of employees is expected to see a rise from Rs 18,000 to Rs 26,000. Employees are now demanding the government to raise the fitment factor to 3.68.
Currently, if somebody gets a basic pay of Rs 15,500 in 4200 Grade Pay, his total pay will be Rs 15,500×2.57 or Rs 39,835. However, the hike will raise the minimum wage from Rs 18,000 currently to Rs 26,000.
The government last month approved a 4 percent hike in the dearness allowance to be implemented from January on basis of 7th pay commission. Pensioners and employees will now get 42 percent dearness relief and dearness allowance from earlier 38 percent.
(The above story first appeared on LatestLY on Apr 06, 2023 02:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).