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Salary Hike: Good news for Central Employees! Salary will increase from Rs. 40000 to 1 lakh! Big update on 8th Pay Commission
Central Employee salary Hike 2023: There is good news for central employees. In the new year 2023, employees can get the gift of fitment factor. According to media reports, before the budget session, the Modi government may consider increasing the basic salary of the employees, after which the basic salary will be increased from 18000 to 26000.
Although the official confirmation is yet to be done. 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.
In fact, the pay matrix made in the 7th Pay Commission is based on the fitment factor, in such a situation, the fitment factor is considered to be an important role in the salary received by the employees. Due to this factor, the salary of central employees has increased by more than two and a half times. increases. At present, the fitment factor of the employees under the 7th Pay Commission is 2.57 times and the basic salary is 18000. For a long time the employees of the center have been demanding to increase the fitment factor so that the basic salary can be increased.
There is a possibility that once again in 2023 the Fitment Factor can be revised. In view of the 2024 elections, the Modi government may announce an increase in the fitment factor after the Union Budget. It can be increased to 3.00 or 3.68 percent. 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. At 3.68, the salary will be Rs 95,680 (26000 X 3.68 = 95,680) i.e. Rs 49,420 profit will be available in salary. With 3 times the fitment factor, the salary will be Rs 21000 X 3 = Rs 63,000.
Update on 8th Pay Commission
On the one hand, the Central Government has made it clear that the 8th Pay Commission will not come, it is not under consideration at the moment. It is being claimed in many media reports that after the formation of the new government after the 2024 elections, a decision will be taken on the salary of the employees. It is also expected that the 8th Pay Commission will be constituted by the new government. There is talk that the 8th Pay Commission may be constituted by the end of 2024. It can also be implemented in 2025 or 2026. There may be some changes in the 8th Pay Commission as compared to the 7th Pay Commission. With this, the employees of the Sixth Pay Commission will get more benefits in salary.
Salary can increase
Under the Seventh Pay Commission, the basic salary was increased on the basis of Fitment Factor, if this is considered as the basis in the Eighth Pay Commission, then the basic salary will increase to at least Rs 26,000. After this the revision of salary of the employees can be on performance basis on annual basis. Apart from this, the revision of the maximum salary can be done at a difference of 3 years. However, till now no official confirmation or statement from the government has been revealed