NEW DELHI: The central government employees who have been waiting for the fitment factor hike can expect to hear good news soon as they might expect an increase in their basic salary before March 31st.
The end of the financial year i.e. 2021-2022 on 31st March will bring good news for the government employees as they will earn a lot more by this time.
It is obvious that if the fitment factor increases then the salary of employees is bound to increase and the fitment factor is likely to increase from 2.57 to 3.68.
According to reports, the government will soon approve the hike in the fitment factor. Earlier the union bodies of the central government employees have raised their voice demanding an increase in the fitment factor from 2.57 to 3.68 and the salary from Rupees 18,000 to Rupees 26,000.
Notably, the employees currently get their salary on the basis of the 2.57% fitment factor and if this is increased t0 3.68% then the salary would automatically increase by Rs 8000.
Therefore the minimum wage of the employees will get increased following the fitment factor from Rupees 18,000 to Rupees 26,000 every month.
As per the 2.57 fitment factor, if the minimum salary of an employee is Rupees 18,000 as he/she will get Rupees 46,260 without allowances because if 18,000 is multiplied by 2.57, it is 46,260.
With the hike of the fitment factor to 3.68 per cent, the employees will be benefited from their basic salary getting increased upto Rupees 26,000.
As per calculations if the fitment factor is 3.68 then the salary of an employee will be Rupees 95,680 because if 26,000 are multiplied with 3.68, it is 95, 680.
So, as a result, the salary of the central government employees will increase by Rupees 49,420 which is a number you get when you minus 46,260 from 95, 680.
It may be mentioned that in June 2017, the Union Cabinet has approved recommendations of the 7th Pay Commission with at least 34 modifications.
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