8th Pay Commission: Following the establishment of the panel, the process to enhance employee salaries will commence. Additionally, a decision will be made regarding the fitment factor applicable to the salaries of central government employees. According to media reports, a fitment factor of 2.86 may be adopted in the 8th Pay Commission. If this factor is implemented by the government, the minimum salary for central employees will rise to Rs 51,480, compared to the current minimum salary of Rs 18,000 under the seventh commission.
An increase of over Rs 88,000
It is important to note that if the Central Government applies the 2.86 fitment factor for the 8th Pay Commission, there will be a significant salary increase for Senior Section Officers, Assistant Audit Officers, and Managing Audit Officers, all of whom fall under the Level-8 category. Presently, employees in this category receive a monthly salary of Rs 47,600, but it is anticipated that their salary could reach approximately Rs 136,000 under the 8th Pay Commission, resulting in an increase of over Rs 88,000.
What is the fitment factor?
The fitment factor serves as a formula for determining the salaries and pensions of government employees. This formula involves multiplying an employee’s basic salary by a specific multiplier. The aim of the fitment factor is to enhance the financial well-being of employees. When establishing the fitment factor, considerations include the economic conditions of employees, inflation rates, and their needs. The fitment factor is determined based on the recommendations provided by the Pay Commission.