Fitment factor Hike: It is under the new pay commission that the salary hike from now on will be done. This is set up by the central government after 10 years. Under this, the fitment factor is decided, which goes into the revision of the salary. Hence fitment factor plays the major role in salary increments. However, the actual calculations regarding its fixation and implementation are unknown to most employees. Get the complete story in the news.
The fitment factor is a very important game for government employees to determine salary hikes. A big salary increase due to fitment factor is possible in the 8th pay commission. In the 7th pay commission, the fitment factor of 2.57 was considered, whereas, in the 8th pay commission, discussions are being held for a fitment factor of 2.86. If the demand is met with acceptance, minimum salary will go from 18 thousand to 51,490 rupees directly. This will also have a jump from the current minimum pension of 9000 rupees to 25,740 rupees. Employees are demanding a fitment factor of 3.68; were that to be accepted, the increase would be even higher.
Fitment Factor Impact On Salary
Lower the value of the fitment factor, lower the increment in salary; a higher value gives a big leap to salary. In real insight, the increments only start getting known when the fitment factor is fixed. Although much has not yet been clarified by the government on what fitment factor it shall keep in the 8th Pay Commission This time, an assured increment in employees’ salary is based on that.
The Last Time, Fitment Factor Was This Much-
In the Seventh Pay Commission, the fitment factor was fixed at 2.57, to take an increment above two and a half times in favour of the employees. For example, previous to the commission, under Sixth Pay, the employees were on a minimum basic pay of 7,000, which suddenly increased to 18,000. This also gave a huge leap to gross salary forms. The Seventh Pay Commission was formed in 2014, and implementation started from 1 January 2016.
Fitment Factor In 6th Pay Commission-
During the Sixth Pay Commission, fitment factor 1.86 raised the minimum salary of government employees to 7 thousand rupees. Under the 7th Pay Commission, this value further increased the amount from 7 thousand to 18 thousand according to the fitment factor of 2.57, thus giving a direct increment of 11 thousand. This means one fitment factor was directly multiplied with another. The fitment factor thus operates also as a multiplier.
This Is How It Works For Fitment Factor Decision-
It is relevant for the employees to know what the salary increments exactly come to, so they must also know what a fitment factor is and how it is decided-and that is the crux of it. Fitment factor is being used only for the revision of salaries and pensions for government employees and pensioners.
Also called multiplier, multiplier, or formula. It is a new pay scale showing calculation by basic salary of an employee by respective multiplier. It is set up by the Pay Commission.
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