The Central Government led by the Prime Minister Shri Narendra Modi is expected in coming days to take a big decision towards social security of Central employees and pensioners. One of this development that can be associated with this is the chances that it will enhance the Fitment Factor and this could lead to a major boost on the basic salaries. Further improvements may be announced by the end of November, which will be good news for employees and pensioners.
What Is Fitment Factor?
Fitment s Factor is multiplier to re fix the basic emoluments of employees of the government and pensioners. In this context, it is involved in setting of the floor for the new pay structure that needs to be provided to workers. For instance, the Fitment Factor in the 7th Pay Commission was 2.57 and it raised the minimum wage from ₹7000 to ₹18000.
It may be recollected that Shiv Gopal Mishra, Secretary, National Council of Joint Consultative Machinery has insisted the government to enhance the Fitment Factor. This has led to development of expectations among the employees who are optimistic that they might get a better pay package.
Proposed Increase of Fitment Factor
At present, the Fitment Factor in the 8th Pay Commission is proposed to be raised to 2.86. If approved the people will get a minimum salary of ₹51,480 a vast improvement if the current situation. There is another concept of 1.92 that is also in consideration, and this would definitely a have large impact on the salary.
The Fitment Factor in previous Pay Commissions
6th Pay Commission (2006): The Fitment Factor was adjusted to 1.86, which increased the entry wage to ₹7,000.
7th Pay Commission (2016): The Fitment Factor rose up to 2.57 thus bringing down the least wage to Rs 18000.
Expectations from the 8th Pay Commission
The 8th Pay Commission is to be set up in 2024 and implemented in 2026 and the which is expected to give the Fitment Factor of 2.86. Where this is agreed, central employees and pensioners their will derive immense financial enhancement.
