New Delhi. The most important announcement of every pay commission for service employees and officers is their fitment factor. This is the coefficient which takes the existing basic salary to a new level and directly impacts the financial condition of the employees. Although the fitment factor of the 8th Pay Commission has not been declared yet, but its approximate value is being disclosed in many reports.
Importance of Fitment Factor
The fitment factor in the 7th Pay Commission was 2.57, due to which the minimum basic salary increased from ₹7,000 to ₹18,000. This step was taken with the aim of improving the living standards of employees and reducing the impact of inflation.
There has been no official announcement yet in the 8th Pay Commission, but in media reports the fitment factor range from 1.92 to 2.86 is being discussed. If we look at past trends, 1.92 is considered a realistic and possible figure.
Salary Estimate for Level-8 (Grade Pay 4800) Officers
Officers in Level-8 generally have management and supervision responsibilities. According to the 7th Pay Commission, his basic salary was ₹ 47,600. If fitment factor 1.92 is adopted in the 8th Pay Commission, the new basic salary will be: ₹47,600 × 1.92 = ₹91,392
If the fitment factor was slightly higher, say 2.08, the new basic salary would be approximately ₹99,008. And if the maximum estimation factor of 2.86 is applied, then the basic salary can reach ₹1,36,136.
Can net salary cross ₹1 lakh,
According to the 1.92 fitment factor, the basic salary will be ₹91,392, which with additional allowances can bring the net salary to around ₹1 lakh.
In cases of 2.08 or 2.86 fitment factor, the net salary will definitely cross ₹1 lakh. Now it remains to be seen what fitment factor the government decides.
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