New Delhi. Discussions about the 8th Pay Commission for central employees are now gaining momentum. As soon as a new pay commission is formed, the basic salary and allowances of employees at every level are increased. This process happens approximately every 10 years and results in a substantial increase in salary and pension.
What is fitment factor?
Fitment factor is a standard set by the Pay Commission. In this, the economic and organizational situation is evaluated by adding the existing basic pay and grade pay. Apart from this, inflation rate, cost of living, retail inflation trend of the industry sector, financial position of the government and the extent of total salary expenditure are also taken into consideration.
Estimated Fitment Factor of 8th Pay Commission
According to experts, the fitment factor of the 8th Pay Commission may be around 2.13. This includes calculations based on the existing 58% dearness allowance, potential annual salary increases and family expenses.
Estimated Basic Pay: Fitment Factor 1.92
If the fitment factor in 8th Pay Commission is 1.92, then the basic pay will be approximately as follows: Level-1: ₹34,560, Level-2: ₹38,208, Level-3: ₹41,664, Level-4: ₹48,960, Level-5: ₹56,064
Estimated Basic Pay: Fitment Factor 2.15
When fitment factor is 2.15: Level-1: ₹38,700, Level-2: ₹42,785, Level-3: ₹46,655, Level-4: ₹54,825, Level-5: ₹62,780
Estimated Basic Pay: Fitment Factor 2.57
If the fitment factor remains 2.57, then: Level-1: ₹46,260, Level-2: ₹51,143, Level-3: ₹55,769, Level-4: ₹65,535, Level-5: ₹75,04. Although these are just estimates taken from various reports, the complete details will be known after the official announcement by the government.
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