8th pay commission latest updates: More than 50 lakh employees and more than 65 lakh pensioners of the country are eagerly waiting for the 8th Pay Commission, new updates are constantly coming up.
8th pay commission latest updates: More than 50 lakh employees and more than 65 lakh pensioners of the country are eagerly waiting for the 8th Pay Commission, while new updates are constantly coming up. The most debated issue is the fitment factor. This is the number on the basis of which the new basic pay of the employees will be decided.
At present, the government has not taken any final decision on the fitment factor. But different guesses are being made by experts and employee associations. Some experts believe that it may stay around 2.10. While employee organization may demand up to 3.83.
Fitment factor and basic pay
If we understand the fitment factor in simple language, this is a multiplier, which is multiplied by the current basic salary to get the basic salary. Like if an employee’s current basic salary is Rs 18000 and the fitment factor is fixed at 2.10 then the new basic salary will be Rs 37000. If the government accepts a 3.83 fitment factor, the basic salary may increase to Rs 68,940.
Calculation of pay matrix levels
Under this, a huge gap is also seen at various pay matrix levels. For example, a Level-6 employee whose current basic pay is Rs 35,400, will have a new basic pay of around Rs 74,340 at 2.10 fitment factor. However, if 3.83 is applied, that salary can go up to around Rs 1.35 lakh. The basic pay of those level-1 officers may increase from Rs 56,100 to Rs 1.17 lakh in 2.10 account and Rs 2.14 lakh in 3.83 account.
The current basic pay of the highest level i.e. level-18 officers is Rs 2.50 lakh, which can go up to Rs 5.25 lakh on 2.10 fitment and around Rs 9.57 lakh on 3.83 fitment.
