Good news for employees! It is possible to increase the minimum wage again, how much will the salary increase if it is 3 times, know the latest updates

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7th Pay Commission: New update! Central govt employees DA increase by 4% to 46%, know all details
7th Pay Commission: New update! Central govt employees DA increase by 4% to 46%, know all details

Now if the fitment is made 3 times, then the minimum salary of central employees will reach 26000. There is news that before the upcoming elections, the Modi government at the center can revise the rates of fitment factor of the employees.

Central Employee Salary Hike: Lakhs of central employees can once again get good news, after which a bumper jump in salary will be seen. If media reports are to be believed then before the upcoming elections the fitment factor of central employees may increase by almost 3 times, due to which the minimum salary will be Rs 26,000. More than 52 lakh employees will get its benefit. Although the official confirmation is yet to be done, till now no statement has come from the government in this regard.

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In fact, in the year 2016, the Central Government had implemented 7CPC, then under the Seventh Pay Commission, it has been decided to increase the fitment factor by 2.57 times. Due to this, the minimum salary of central employees was directly increased from Rs.6000 to Rs.18000. For a long time the employees have been demanding to increase it up to 3.00 per cent. Now if the fitment is tripled, then the minimum salary of the central employees will reach 26000. It is reported that before the upcoming elections, the Modi government at the center can revise the rates of fitment factor of the employees. Since elections are to be held in 2024, such The fitment factor can be implemented from 2026. However, official confirmation is yet to be done.

Why the demand for fitment factor?

The fitment factor plays an important role in determining the salary of central employees. According to the recommendations of the 7th Pay Commission, the total salary of the central employees is determined by the basic salary and the fitment factor, in addition to the allowances, which means that the salary of the central employees is increased by calculating two and a half times. This means that when the fitment factor increases, the salary will also increase, because allowances like dearness allowance, traveling allowance, house rent allowance, basic salary are multiplied by the fitment factor to arrive at the total salary.

Salary will increase from 49000 to 63000 in the account

For example, if the basic salary of an employee is Rs 18,000, then his salary excluding allowances will be 18,000 X 2.57 = Rs 46,260. On being 3.68, the salary will be Rs 95,680 (26000 X 3.68 = 95,680) i.e. there will be a profit of Rs 49,420 in salary. After 3 times the salary will be 21000 X 3 = Rs 63,000. Same basic salary of 15500 can increase to Rs 39835.

DA expected to reach 45% in July

DA of central employees and pensioners may be increased once again by 3-4%, after which DA is expected to increase from 42% to 45% or 46%. Since January and July DA increases twice a year , which is calculated on the basis of AICPI index. The figures till March have been released by the Labor Ministry, after which the AICPI score has increased from 132.7 to 133.3, although the figures for April to June are yet to come, after which it will be indicated that how much will be the final increase in DA in July. Its benefit will be given to 48 lakh employees and 69 lakh pensioners.

House rent allowance may increase

According to media reports, the next revision in house rent allowance along with dearness allowance may be up to 3%. Thereafter the maximum HRA will increase to 30% from the existing rate of 27%. But this will happen only when DA crosses 50%. It is estimated that it may be decided by 2024. According to the memorandum of the Finance Department, HRA will be 30%, 20% and 10% when DA crosses 50%. The category of house rent allowance is according to X, Y and Z class cities. The central employees who fall in the X category are getting 27% HRA, which will be 30% if the DA is 50%. For Y class it will increase from 18% to 20%. For Z class people, it will increase from 9% to 10%.

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