8th Pay Commission Latest Update: You know very well that the pay structure and pay allowances of the government employees of India are revised from time to time. Such revised recommendations are usually based on the Pay Commission recommendations. Though for your information, the formation of the 8th Pay Commission has already been approved by the Central Government recently. And one of the major components of this commission would be the fitment factor, which runs through the salary structure of the government employees.
What Is The Fitment Factor?
Fitment factor is a multiplier which combines basic salaries of employees under the new pay commission. All previous pay commission levels are connected through this factor. For example, the multiplier by the fitment factor of the 7th Pay Commission was 2.57, which resulted in the simple basic salary of employees multiplied by 2.57.
Expectation Of Fitment Factor In 8th Pay Commission
Speculations surrounding fitment factors in the 8th pay commission have been soaring. A few experts predict this factor to fall around 3.00 or higher. If that does happen, that would mean a very high raise in the salaries of government employees. Taking an example, when an employee’s base salary is Rs 25,000, with a fitment factor of 3.00, his new basic salary will be Rs 75,000.
Importance Of Fitment Factor
The fitment factor is important because it raises their salary directly to the government employees. Not only does it concern the basic salary, but it also concerns other allowances such as dearness allowance (D.A.) and pension. Apart from this, it adds to employees’ purchasing power and improves their standard of living.
Challenges And Doubts
However, increasing fitment factor may cause quite an increase in financial burden on the government. The increase in salaries and allowances for lakhs of employees and pensioners will weigh heavily on the government treasury. Besides, it is important to consider how much salary increase will be received equally by all employees.
Final Thought
This would be a big hope for government employees in the fitment factor of the 8th Pay Commission. This would not only add to their salary but would also strengthen their position financially. However, the government needs a cautious step by weighing its financial implications. Employees need to be informed of these changes along with their rights.
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