7th Pay Commission: When Will Centre Raise Fitment Factor Rate? 8th Pay Commission for Government Employees in 2024? Check Latest News Update

By admin On Apr 4, 2023

Mumbai, April 3: After receiving the first dearness allowance (DA) hike of 2023, Central government employees under the 7th pay commission are now eagerly waiting to hear good news about the Fitment Factor hike. For a long time now, government employees have been demanding a raise in the fitment factor rate. At present, the fitment factor rate is 2.57 times for government employees.

Earlier, a report had said that the Narendra Modi government could decide on increasing the fitment factor rate by March 31. However, so far, there has been no official announcement by the government as yet. Since last year after the 4 percent DA hike, Central government employees have been demanding to raise the fitment factor rate. 7th Pay Commission to be Replaced by 8th Pay Commission Soon? Here’s How Much Salary Will Increase.

Central government employees under the 7th pay commission want the government to raise the fitment factor rate to 3.68 times from 2.57 times. A report in Times Now suggests that the Centre could revise the basic salary of its employees. Various media reports also state that the government will come up with a new formula to calculate salary and if approved, it will also boost the fitment factor.

If the Centre approves the fitment factor hike then the minimum wage of government employees will raise from Rs 18,000 to Rs 26,000. Back then, the Centre introduced the fitment factor to ascertain the basic salary of central government employees. Under the 6th pay commission, the fitment factor rate was 1.86 which changed to 2.57 times after the 7th pay commission came into existence. 7th Pay Commission: After 4% DA Hike, Centre Likely to Revise Fitment Factor; Check Latest News Update Here.

If the Central government hikes the fitment factor rate 3 times then the salary of a government employee will be Rs 18,000 X 2.57 = Rs 46,260. This excludes allowances. Similarly, if a 3.68 times fitment factor rate is approved then the salary of an employee will be Rs 26000 X 3.68 = Rs 95,680.

7th Pay Commission To Be Replaced Soon?

Meanwhile, reports also suggest that the Centre could replace the 7th pay commission with a new pay commission. The government is expected to introduce the 8th pay commission in 2024 after the Lok Sabha Elections and implement it two years later in 2016.

(The above story first appeared on Today News 24 on Apr 03, 2023 04:08 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).