8th Pay Commission: The central government has raised hopes of a major change in the salary of government employees by announcing the formation of the 8th Pay Commission on January 16. Since this announcement, there has been a discussion everywhere about how much the salary of central employees can increase.
What is this ‘fitment factor,’ and why is it so important?
The fitment factor is a unique number, typically 2 or 3. The government uses it to decide the minimum salary of central employees and pensioners. This number changes each time the government forms a pay commission.
What will happen if the fitment factor becomes 2.86?
Some people say that if the government keeps the fitment factor at 2.86, then the salary of employees can increase by 40-50%! Think of how big a piece of good news this can be!
Understand with an example:
Assume that the 8th Pay Commission fixed the fitment factor at 2.86. Then, understand how your salary and pension will increase:
Current minimum basic salary: ₹18,000
New minimum basic salary (estimated): ₹18,000 x 2.86 = ₹51,480
This means that your current basic salary can increase almost three times!
This is not just a basic salary, but more benefits!
The 8th Pay Commission will not only increase your basic salary. Along with this, your allowances and other benefits may also increase. This means that the Pay Commission has the potential to significantly impact government employees.
Is this news true?
Although the 8th Pay Commission has been announced, until now there is no confirmed information from the government on how much the fitment factor or salary will increase. All these are just speculations and discussions. Whatever decision the government will take, it will be known only after the official announcement.
What will happen next?
Government employees will now wait for the next news related to the 8th Pay Commission. Everyone’s eyes are on the government to see what decision it takes for the employees.
This article is only for information. Wait for government announcements for official information on the decisions of the Pay Commission.
