7th Pay Commission: Rs 49,420 increment for government employees
7th Pay Commission Latest News: Seeing the salary and nature of work of government employees, those doing private sector jobs are always jealous of them. You and I will be one of them. The wishes of such government employees will now be seen to be fulfilled. Because, the preparation to increase the fitment factor seems to be progressing in a phased manner, which will greatly benefit the Central Government Jobs. Of course, this will have to wait for some time.
According to sources, the decision in this regard will be finalized by the end of 2023. With this decision, the salary of all the employees working in the service of the Center will increase by a huge margin. This increase in basic pay will be done under the 7th Pay Commission.
How much will the fitment factor increase?
The dearness allowance of central government employees, which has been rising by a marginal margin, currently stands at 38 per cent. It is expected to grow two fold next year. But according to the demand of the employees, they wanted to increase the fitment factor only under the 7th Pay Commission. Which will now be considered.
At present, the basic salary of central government employees on the basis of fitment factor is Rs 18,000. It has a fitment factor of 2.57 times. According to the demand of the employees, it should be increased to 3.68 times under the Pay Commission. Due to which the minimum basic pay will be 26 thousand rupees. However, if the golden mean is taken from the center, this ratio will increase to 3. The decision in this regard is still awaited.
How much will the salary increase if the fitment factor increases?
Suppose the basic salary of an employee is Rs 18,000, then excluding the existing allowances, his salary will be 18,000 X 2.57 = Rs 46,260.
– If the fitment factor is increased to maximum times i.e. 3.68 then the salary will be 26000X3.68 = 95,680.
If the fitment factor is increased 3 times, then the basic salary will be Rs 21,000 and the final salary will be Rs 63,000.
How does this raise a factor wage?
As per the provisions made in the 7th Pay Commission, the salaries of Central Government employees are determined on the basis of Basic Pay (Basic Pay), (Fitment Factor) in addition to various allowances (Pay Allowances). Due to all these reasons, there is an increase of about two and a half percent in the salary of the employees.