8th pay commission: There is suspense among millions of government employees of the country regarding the 8th Pay Commission. The questions are constantly arising in his mind that how much will be the benefit of his salary after the installation of the 8th Pay Commission, how much will they benefit from it? Explain that the increase in salary of any employee will depend on the fitment factor. At present, no formal announcement has been made by the government about this.
However, in several reports, a major aspect of the Pay Commission has been pointed out to debate about the fitment factor. This is because the fitment factor is the main component of the formula that will help the authorities to remove the new salary structure for millions of government employees. Along with rising inflation, some people argue that the Central Pay Commission (CPC) will also modify the fitment factor.
Explain that whenever new conditions are announced under the 8th Pay Commission, it will change the salary structure of more than 50 lakh employees and 65 lakh pensioners.
2.86 may be fitment factor!
One of the most prominent discussions under the 8th Pay Commission is that the CPC can take a fitment factor of 2.86 this time. Although no official announcement has been made, experts argue that given the existing inflation and previous trends, the 8th Pay Commission Counting Formula appears to be the 2.86 most suitable fitment factor.
How much will your salary increase?
If the CPC decides to take a 2.86 fitment factor, it will mean that there will be a huge increase in salary. The formula to calculate a new increase based on the fitment factor is easy. The new increase is known by multiplying the original salary of the government employee by the fitment factor.
Original Salary X Fitment Factor = New hike
Therefore, if the basic salary is 10,000 and CPC decides 2.86 as a fitment factor, then there will be a new increase: 2.86×10,000 = 28,600
Let us tell you that the fitment factor of 2.57 was fixed under the 7th Pay Commission to end in December this year. This time, if it becomes 2.86, it will directly increase the salary of the employees.