Wednesday, November 29, 2023

7th Pay Commission: Central Government Employees Get An Increased Salary

7th Pay Commission: There is almost a month left for the new year to begin. With the beginning of the year 2023, central employees are getting great news. The year-old wishes of lakhs of workers are likely to be fulfilled. Sources of the sister website Zee Business Hindi claim that work is going on on the file of fitment factor. But the decision on this is expected to come by the end of 2023. The increase in salary will be at the basic level.

How much is the fitment factor expected to increase?

With an increase of 4 percent in September, the dearness allowance of central employees has gone up to 38 percent. It will be extended further in January and July. But the central employees have been demanding for a long time an increase in the fitment factor under the 7th Pay Commission. Sources claim that the government is looking to finalize the issue in 2023, before the Lok Sabha elections. Currently, the minimum pay of central employees is Rs 18,000 with a fitment factor of 2.57 times. There has been a demand for a long time to increase it to 3.68 times. There is news that the government can triple the fitment factor by finding a middle way.

How much will the salary increase?

Even if the fitment factor is 3 times, there will be a significant increase in the salary. For example, for an employee whose basic salary is Rs 18,000, currently, his salary is 18,000 X 2.57 = Rs 46,260. But when the fitment factor is tripled, the basic pay will be Rs 21,000. At the same time, apart from allowances, the total salary will be 21000X3 i.e. Rs 63,000.

Apart from allowances, there are other allowances in the salary of central employees. Salary also includes provident fund and gratuity. EPF and gratuity of central employees are linked to basic pay and DA. This is why a different formula is applied to calculate their EPF and Gratuity. Allowances and other deductions are made from CTC.

Read More: PM Jan Dhan Yojana: Government is giving 10 thousand rupees to Jan Dhan account holder, apply immediately

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