Horoscope. Discussions regarding the 8th Pay Commission have intensified among central employees. Fitment factor plays the most important role in every new pay commission, because on the basis of this the new basic salary of the employees is decided. It is believed that due to increase in fitment factor in the 8th Pay Commission, there may be a big increase in salary.
What is fitment factor?
Fitment factor is the coefficient by which the new basic salary is determined by multiplying the existing basic pay. It has a simple formula. New Basic Salary = Existing Basic Pay × Fitment Factor. In the 7th Pay Commission, the fitment factor was kept at 2.57. For this reason the minimum wage was increased from ₹7,000 to ₹18,000.
What are the estimates in the 8th Pay Commission?
Currently, three possible fitment factors are being discussed regarding the 8th Pay Commission, 1.92, 2.08, 2.86, which of these fitment factors will be implemented, it will depend on the recommendations of the government and the Pay Commission. But the probable salary of the employees is being assessed on the basis of these estimates.
Probable new salary of ₹47,600 basic pay people
If the existing basic salary of an employee is ₹ 47,600 (Level-8), then the new basic salary based on different fitment factors can be like this-
At 1.92 fitment factor: approx ₹91,392
At 2.08 fitment factor: approx ₹99,008
At 2.86 fitment factor: approx ₹1,36,136
It is clear from this that if the fitment factor is kept high, then the increase in salary will also be proportionately higher. If the fitment factor in the 8th Pay Commission goes up to 2.86, then the current minimum wage of ₹18,000 may increase to around ₹51,480. This will be considered the biggest increase ever for central employees. Although these are just estimates, no official announcement has been made by the government yet.
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