The suspense about the 8th Pay Commission continues among lakhs of government employees in the country. Questions are constantly arising in their minds about how much their salary will increase after the implementation of the 8th Pay Commission, and how much they will benefit from it.
Let us tell you that the increase in the salary of any employee will depend on the fitment factor. At present, no formal announcement has been made by the government in this regard. However, many reports have pointed to a debate on an important aspect of the Pay Commission, the fitment factor.
This is because the fitment factor is the main component of the formula that will help the authorities in preparing the new salary structure for lakhs of government employees. With rising inflation, some argue that the Central Pay Commission (CPC) will also revise the fitment factor. Let us tell you that whenever the new terms are announced under the 8th Pay Commission, it will change the salary structure of more than 50 lakh employees and 65 lakh pensioners. So, if you are also a government employee, then this news is very important for you.
What will be the fitment factor of the 8th Pay Commission
One of the most discussed topics under the 8th Pay Commission is that the CPC may take a fitment factor of 2.86 this time. Although no official announcement has been made in this regard, experts argue that given the current inflation and past trends, 2.86 seems to be the most suitable fitment factor in the calculation formula of the 8th Pay Commission. If the government accepts this, then a big jump can be seen in the salary of the employees.
If the fitment factor is 2.86, then how much will your salary increase
If the CPC decides to take a fitment factor of 2.86, it will mean a huge increase in the salary. The formula for calculating the new increase based on the fitment factor is easy. The new increase is known by multiplying the basic salary of the government employee by the fitment factor.
Basic Pay x Fitment Factor = New Hike
So, if the basic pay is ₹10,000 and the CPC decides 2.86 as the fitment factor, the new hike will be:
2.86 x ₹10,000 = ₹28,600
Let us tell you that under the 7th Pay Commission ending in December this year, a fitment factor of 2.57 was decided. This time if it becomes 2.86, then the salary of the employees will increase directly. This can be a big relief news for the government employees, which they are eagerly waiting for.