8th Pay Commission Salary Hike: The fitment factor under the 8th Pay Commission, according to Shiv Gopal Mishra, Secretary (Staff Side), National Council-Joint Consultative Machinery (NC-JCM), should at least be 2.57. Either it should be the same as the 7th Pay Commission or even go higher. He stressed that it should not be less than what was fixed in the previous Pay Commission. Ever since the announcement of the 8th Pay Commission last month, there has been much discussion on the salary hike of central government employees.
What Is The Detail?
Mishra said in an interview with NDTV Profit, “I still hold that the fitment factor should be at least 2.57 or more.” This is an important factor in determining the base salary and the old pension. Reports claim that if the 8th Pay Commission adopts a fitment factor of 2.57, a 157 percent salary hike can be expected for the central government employees. The fitment factor of 2.57 as suggested by the 7th Pay Commission in 2016 was an increase in the minimum wage from Rs 7,000 to Rs 18,000. To tell you, the fitment factor is a multiple that determines increment of salary and pension, calculated by dividing the existing basic salary by the new basic salary. It applies to all central employees.
This Is How Much You May Increase Your Salary
Analysts say that the new pay commission may look ahead to a fitment factor ranging from about 1.92-2.86. From these fitments, it is estimated that salary revisions for central government employees and pensioners will range from 92-186%.
Other Important Proposals Are
- Salary structure review of personnel in all categories, including merging pay scales.
- The fixing of an adequate minimum wage on the basis of the Aykroyd formula and the recommendations of the 15th Indian Labor Conference.
- Merger of DA (dearness allowance) with basic pay and pension for the security of finances.
- Revision of pension, gratuity, and family pension benefits, and the restoration of the defined pension scheme for employees recruited after 1st January 2004.
- Strengthening CGHS facilities for cashless and hassle-free medical service.
- Raising the children education allowance and hostel subsidy up to the postgraduate level.
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