The central government employees may get an increment in the fitment factor. According to media reports, the government is likely to announce an increment in the fitment factor for employees, which will in turn increase their salary.
Live TV
Loading...
If the government decides to hike the fitment factor, it will increase the minimum wages of government employees. These employees have been, for long, demanding an increase in fitment factor from 2.57 times to 3.68 times.
In case the government increases the fitment factor to 3.68 percent, employees' minimum salary will go up to Rs 26,000 from Rs 18,000. Currently, central government employees get their salary based on the fitment factor of 2.57 percent under the 7th Pay Commission. Fitment factor is used to calculate central government employees' basic pay.
According to a report by Zee News, the government is mulling over an increase in the fitment factor for its employees.
Also Read:
An increase in the basic pay means all the allowances, including the dearness allowance, will go up. DA is increased twice a year — in January and July. However, the government has not yet announced DA increment this year yet. After a hike in July 2021, employees' DA reached 31 percent of their basic pay under the 7th Pay Commission. However, there is no official statement on fitment factor hike yet.
Earlier, the government had increased dearness allowance to 31 percent of the basic pay from 28 percent with effect from July 1, 2021. The decision benefited nearly 47.14 lakh central government employees and 68.62 lakh pensioners, according to the finance ministry.
First Published: Feb 9, 2022 12:40 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM