New Delhi. The curiosity about the 8th Pay Commission is continuously increasing among the central government employees and pensioners. The most discussion is taking place about the fitment factor, because on the basis of this the new basic salary and pension of the employees is decided. Various employee organizations have raised the demand for a big increase in the fitment factor this time, due to which lakhs of employees can get the benefit of salary increase.
What is fitment factor?
Fitment factor is the coefficient through which the new basic salary is decided by revising the current basic salary. This is considered the most important basis for increasing the income of employees in any pay commission. In simple words, the new basic salary is determined after multiplying the existing basic salary by the fixed fitment factor. This is the reason why employee organizations are keeping their eyes on the fitment factor this time.
What was the fitment factor last time?
The fitment factor was set at 2.57 during the 7th Pay Commission, after which the minimum basic pay increased from Rs 7,000 to Rs 18,000. Whereas in the 6th Pay Commission this figure was 1.86. Now after almost a decade, amidst the preparation of new pay commission, employees are demanding higher fitment factor in view of inflation and rising cost of living.
Different demands of different organizations
Employee organizations have put forward various proposals before the government. Some organizations believe that the fitment factor should be 3 or more, while some have demanded up to 4. If 3rd fitment factor is applied then the minimum basic salary can reach Rs 54 thousand. In case of fitment factor of 3.8 or 3.822, this amount is estimated to reach Rs 68 thousand to Rs 69 thousand. The biggest demand is for 4 fitment factor, if implemented, the minimum basic salary can reach Rs 72 thousand.
What are the experts believing in this context?
Experts on salary and financial matters believe that the government will take the decision keeping in mind both the employees and the financial balance. Many experts estimate that the fitment factor could range between 2.28 to 2.86. If this happens, there may be a significant increase in the current minimum basic salary. However, the final decision will be clear only after the recommendations of the Pay Commission and the approval of the Central Government.
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