The 8th Pay Commission is rolling around the lips of each and every central employee because the expectations are high with impending revisions. The most cardinal area of concern, however, is the fitment factor that really determines how much increment in salary is likely to go down as pertains to revision under the Pay Commission. Employees are now on tiptoes waiting to know how much of an increase they would bring home as speculation points towards a higher fitment factor recommended by the 8th Pay Commission.
What Is The Fitment Factor?
The fitment factor is purely a multiplication figure for a partial revision applicable to comparing the basic pay of government employees in the introduction of a new Pay Commission: It derives revised pay as multiplied by some selected number to the denominator of basic units.
For example, it was the case with the fitment factor of 2.57 in the 7th Pay Commission, where the salaries were just multiplied by 2.57 for calculating the new pay structure for the respective employees.
Expected Fitment Factor In The 8th Pay Commission
The employees of the government are clamoring for a fitment factor of 3.68 or above in the 8th Pay Commission in relation to the increasing price levels and the inflation. These demands, for example, can provide for them a 157 percent poop hike, which refers to the amount of increase in their salary after receipt of payslips for home.
With a fitment factor of 3.00, you can expect a 50% increase, which with 3.68 would give you a whopping 157%, thus resulting in government employees being considerably wealthier.
How Much Fitment Factor Is Enough?
As far as these conditions are concerned, a fitment factor between at least 3.00 and 3.50 is the most basic that experts can advise. Well-balanced economics and welfare for employees would be thus achieved to enable them as central government employees to tackle adequately the scalding torch of inflation but yet remain stable within government budgets.
Conclusion
Government employees expect to receive big blows regarding the salaries that will be awarded by the 8th Pay Commission, as influenced mostly by its revised fitment factor. While noises are heard for a 3.68 fitment factor, the verdict very much rests on the premises of government policies and economic conditions. Employees are looking forward to it, hoping that it aligns itself very nicely with inflation and cost of living to amass a heftier pay packet.
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