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Fitment Factor Hike 2023: There is good news for government employees. Central employees can get a big gift after the Union Budget to be presented on February 1, 2023. According to media reports, after the end of the budget session, the Modi government at the Center may consider the fitment factor of the employees. If this happens, there will be a bumper jump in the minimum and maximum salary of the employees. About 53 lakh employees will be benefited by this.
Actually, at present the fitment factor of the employees is 2.57 and the basic salary is 18000. For a long time, the employees of the Center have been demanding to increase the fitment factor to 3.68 that even after the increase in DA, the basic salary should increase because the salary increases on this basis. According to media reports, the Modi government at the Center may take a decision on the fitment factor of the employees in view of the upcoming elections in 2023. Under the 7th Pay Commission, the fitment factor of the employees can be increased from 2.57 to 3.00 or 3.68 percent. Till now no official confirmation or statement has come from the government.
The fitment factor was increased in 2016
If the media reports are to be believed, then the basic salary of the employees will be increased from 18000 to 21000 or 26000 after increasing by 8000. There is a possibility that the central government may take a decision on this after the budget to be presented on February 2023. Earlier, the government had increased the fitment factor in 2016 and from the same year the 7th pay commission was also implemented, after which the basic salary of the employees increased from 6000 to 18,000.
This is how salary is calculated
Actually, the pay matrix made in the 7th pay commission is based on the fitment factor, due to which the fitment factor is considered to be an important role in the salary received by the employees. The fitment factor is a common value, which is multiplied by the basic pay of the employees. His salary is calculated from this. This increases the salary by more than two and a half times.
Whose salary will increase by how much?
At present, the fitment factor of the employees under the 7th Pay Commission is 2.57 times and the basic salary is 18000.
For example, if the basic salary of a central employee is Rs 18,000, then excluding allowances, his salary will be 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. there will be a profit of Rs 49,420 in salary.
With 3 times the fitment factor, the salary of the employees will be 21000 X 3 = Rs 63,000.
If an employee is getting Rs 15,500 as basic pay, then his salary will be Rs 15,500*2.57 or Rs 39,835