The news of a potential salary hike has brought a ray of hope for many employees in the country. According to media estimates, if the Narendra Modi government approves the proposed increase in dearness allowance (DA) and fitment factor by 4% in July, the salaries of the employees could see a significant boost, with some earning up to Rs 95,000.
This announcement has been welcomed by many who have been advocating for an increase in the minimum wage. The move is expected to alleviate the financial burden on the employees and improve their standard of living.
The basic compensation of central personnel stands at Rs 18,000, but if the fitment factor is modified, their basic salary could increase to anywhere between Rs 21,000 to Rs 26,000 per month. This means that the employees could receive a maximum benefit of up to Rs 8,000 per month. As per reports, the government is contemplating increasing the fitment factor by 3.68 times, which could bring about a substantial improvement in the salaries of central personnel.
At present, the central employees' pay is calculated using a fitment factor of 2.57 percent, but there has been a demand from the employees to increase it to 3.68 times. If the fitment factor is increased by three times, the employees' basic income could potentially increase to Rs. 35,000 per month.
The fitment factor was last modified in 2016 when the Seventh Pay Commission was implemented. Prior to this, the basic salary of employees was Rs 6,000 per month, which was subsequently increased to Rs 18,000 per month. Currently, there is an expectation that demand for another increase will arise.
While no official announcement has been made by the Central Government regarding the potential salary increases, media reports suggest that significant developments may be on the horizon. If implemented, this could greatly benefit the employees, potentially leading to a significant increase in their income.
