Employees will get another gift in the new year! Salary will increase this much, know the latest updates. 7th pay commission: New Year Gift to Millions Employees, allowance salary will increase by 3.68 times again, up to 95680 will come into account in January

7th pay commission

Central Employee Salary Hike 2022: On the one hand, there is speculation about a 4 to 5 percent increase in the dearness allowance of central employees-pensioners in the new year. On the other hand, there have been talks of increasing the fitment factor as well. According to media reports, the Modi government at the Center may increase the fitment factor of employees in 2023, increasing it from 2.57 to 3.68 percent. If this happens then the basic salary of the employees will increase from 18000 to 26000.

Actually, at present the fitment factor of the employees under the 7th Pay Commission is 2.57 times and the basic salary is 18000. According to media reports, the fitment factor may be increased from 3% to 3.68% in the new year, after which a one-time increase of Rs 8000 will be seen in the minimum pay. The minimum basic salary will increase from 18 thousand to 21000 or 26000. If 3 times increase is agreed then the minimum salary will be 21,000.

If media reports are to be believed, several rounds of talks have taken place between the government and the concerned departments regarding the fitment factor of the employees and now it is expected to be announced soon. However, no official announcement has been made in this regard by the government so far. There is a possibility that the government may take a decision on this demand after the budget to be presented on 1 February 2023 next year.

Salary will increase two and a half times due to fitment factor

The fitment factor is a major parameter for fixing the minimum salary of central employees. Due to this factor, the salary of central employees increases by more than two and a half times. The Pay matrix prepared in the 7th Pay Commission is based on the Fitment factor, therefore the Fitment factor is considered to play an important role in the salary received by the employees. In addition to the allowances of the employee, it is decided on the basis of their basic salary and fitment factor. At present, 2.57 times is being given since 2016, but central workers are demanding to increase it to 3.68 times.

salary calculation

For example, If the basic salary of a central employee is Rs 18,000, then excluding allowances, his salary will be Rs 18,000 X 2.57 = Rs 46,260. On being 3.68, the salary will be Rs 95,680 (26000 X 3.68 = 95,680) i.e. Rs 49,420 in salary. With 3 times the fitment factor, the salary will be 21000 X 3 = Rs 63,000.

Leave a Reply

Your email address will not be published. Required fields are marked *