According to reports, the Central Government led by Prime Minister Modi will also enhance the economic conditions for the central government employees and the pensioners very soon. The employees are likely to receive the honor of establishment of 8th Pay Commission.
In addition, there are discussions going on that the appropriate government is also likely to increase the Fitment Factor. If this comes true, then a healthy rise in the baseline salary of the employees is thought to be possible.
Shiv Gopal Mishra, Secretary of the National Council of Joint Consultative Machinery, has recently made a call for increasing the Fitment Factor, and since then a lot of energy is visible on everyone’s face. You will be able to understand all the calculations below, how high will the Fitment Factor rise and what will be the salary. When the 7th Pay Commission was underway, the Fitment Factor was revised upwards, which also resulted in a change of the minimum salary to approximately Rs 18,000.
What Is The Expected Increase Of The Fitment Factor?
Are you aware that the government revises the remuneration of the work force with a corresponding increase in the Fitment Factor? The Central Government 7th Pay Commission had fixed a Fitment Factor of 2.57. Following which, the base salary augmented from 7000 rupees to 17990 rupees.
Discussions concerning the recommendations put forth by the 8th Pay Commission mention raising the Fitment Factor to a value of 2.86. In case this recommendation is accepted, the minimum salary may be raised to a level of Rs 51,451. This will be termed as a hefty hike. Nontheless, such news is heard more often.
However, another camp persists that a new salary structure will be approved that will raise the minimum wage of workers from Rs 34,000 to Rs 35,000. This news, however, has been rebutted by Shiv Gopal Mishra.
When will the 8th Pay Commission come into existence?
For a considerable period of time now, employee associations have been advocating for the establishment of the 8th Pay Commission. It is envisaged that the government can come up with a startling resolution concerning the 8th pay commision. As per the reports of some media sources the 8th pay commission would be set up in the year of 2026.
Prior to that, the Seventh Pay Commission was set up in the year of 2014 and rolled out two years after in the year of 2016. In case the government does set it up, 2026, then it is likely to be a year before it is effective.
Also Read: Maruti Suzuki’s New Car Will Fail Scorpio With 26kmpl Mileage, Price Very Low
Also Read: Buy New Maruti Baleno Car With 27kmpl Mileage For Just Rs 2 Lakh
