8th Pay Commission: The main basis for the increase in the salary of the employees will be the fitment factor. If the fitment factor is low, the increase in salary will be less, whereas if it is high, a great increase in salary can be seen, so let’s know about the fitment factor once.
8th Pay Commission: After the approval of the Eighth Pay Commission by the Central Government, the biggest question in the minds of government employees is how much can be the increase. The main basis for the increase in the salary of the employees will be the fitment factor. If the fitment factor is low, the increase in salary will be less, whereas if it is high, a great increase in salary can be seen, so let’s know about the fitment factor once.
How will the fitment factor work?
During the last Seventh Pay Commission, the minimum basic salary of the employees was increased from Rs 7,000 to Rs 18,000. This was done on the basis of a fitment factor of 2.57. Similarly, the fitment factor in the Sixth Pay Commission was 1.86. Now, in the 8th Pay Commission, the fitment factor is expected to be 2.86 or more.
If the fitment factor is fixed at 2.86 in the 8th Pay Commission, then an increase can be seen in it. However, how much increase will happen will be decided only on the basis of the changes made by the government in the pay-band and grade pay. It is not possible to estimate correctly right now. At the same time, if it is made 3.68 on the demand of the employee unions, then this increase can be even more.
Specialty of Fitment Factor
The fitment factor is an important means of keeping the salary of government employees and pensioners in line with inflation. It adjusts the basic salary to the new pay scale by increasing it by a certain multiplier. It has a direct impact on the gross salary and pension. Through this, it ensures to maintain the purchasing power of the employees and improve the financial condition.
What do the employee unions say?
The employee unions are constantly demanding to increase the fitment factor from 2.57 to 3.68. He says that there should be adequate increase in salary considering inflation and improvement in standard of living. The fitment factor will be finalised keeping in mind the economic condition of the government and the inflation rate.
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