Fitment Factor: Employees can get a big gift soon. Their dearness allowance will be increased by 4 percent. On the other hand, their minimum wage can also be increased. According to media reports, in view of the upcoming elections, the Modi government may take an important decision to increase the minimum wage of the employees or decide a formula for it.
The fitment factor can be increased to three or 3.68
At present, no official confirmation has been made on this. The fitment factor of the central employees is currently 2.57, while the dearness allowance is 42 percent. In view of the upcoming elections, the fitment factor under the 7th Pay Commission may be increased to three or 3.68. According to the recommendation of the Seventh Pay Commission in 2024, preparations can be made to increase the fitment factor.
Possible increase in basic salary of central employees
Actually elections are to be held in 2024. In this case, the fitment factor can be implemented from 2026. This will also benefit more than fifty lakh employees. An increase will also be seen in the basic salary of central employees. At present, the basic salary of the employees is ₹ 18000, excluding allowances, their salary is ₹ 46260, while the salary can be ₹ 95680 if the fitment factor is 3.68.
The fitment factor was increased in 2016
Earlier in 2016, the fitment factor was increased. The same Seventh Pay Commission was also implemented in the same year. In such a situation, the minimum salary of the employees was increased from ₹ 6000 to ₹ 18000. On the other hand, if the rates of fitment factor are revised, then the salary of the employees will increase from ₹ 18000 to ₹ 26000. After which an increase of 44.44% can be seen in the salary of the employees.
