Increasing the fitment factor will increase the bumper in the salaries of the employees, find out how the calculation will be done
7th Pay Commission: Central government employees may once again get the good news of salary increase. After getting HRA and TA promotions after the first dearness allowance, now they can get one more gift in the new year. In fact, discussions are underway to increase the fitment factor. The fitment factor may increase
The first fitment factor was increased in 2016. The 7th pay commission was also implemented this year. At that time, the minimum salary of employees went up from Rs 6,000 to Rs 18,000. Now the government can increase the salaries of central employees (CG employees) again in the year 2022. According to sources, the fitness factor of central and state employees may increase at the beginning of the year. With the increase in fitment, the minimum wages of central employees will be increased once again.
What is the fitment factor
The fitment factor is the factor in which the salaries of central employees are doubled. As per the recommendation of the 7th Pay Commission, in addition to the Salary Allowances of the Central Employees, their Basic Salary and Fitment Factor are determined.
The government is doing the idea
Central and state government employees have long demanded that the Fitment Factor news be increased from 2.57 per cent to 3.68 per cent. Hopefully, before the budget is released on February 1, 2022, the central employee can decide on the fitment factor. Then there will be an increase in the minimum wage for employees.
Calculation on minimum basic salary
Minimum basic salary = Rs. 18,000
Salary excluding allowance = 18,000 x 2.57 = Rs.46,260
26000 X 3 = 78000 rupees on 3% basis
Total increase = 78000 - 46,260 = 31,740
This will increase the total salary of employees by Rs 31,740. This calculation is done on the minimum basic salary. People with higher salaries will benefit more.
Can be included in the budget draft
The fitment factor of central employees can get cabinet approval in the central cabinet. It can be included in the budget expenditure after the approval of the cabinet before the budget. But there is no special need to include it in the budget (Budget 2022) draft if it gets cabinet approval.