What is the latest fitment factor of 7th Pay Commission?
7th Pay Commission latest update: Minimum wages of Central govt employees to go higher as Modi government may increase fitment factor
- Hike in the fitment factor.
- Minimum wages to go higher.
- Fitment factor hike from 2.57 times to 3.68 times.
Is there any good news for central govt employees?
7th Pay Commission: Good News For Govt Employees, Their Annual Salary to Increase by Rs 95,000. From July 1, the Central government employees are getting 28% hike in dearness allowance (DA). And again, the Centre increased their DA from 28% to 31%.
How is 7th pay fixation calculated?
The salary is calculated by multiplying the current basic pay by a factor of 2.57, then adding all relevant benefits such as Transport Allowance (TA), House Rent Allowance (HRA), Medical Allowance, and so on to arrive at the final amount. 51,400 + All allowances. …
How can I fix my salary in 7th Pay Commission?
7th CPC Pay Fixation
- The basic pay drawn by an individual must be identified. The basic pay in this case is the pay in the pay band in addition to the grade pay.
- ‘A’ must be multiplied by 2.57 and must be rounded off to the closest rupee.
- ‘B’ will be the individual’s new pay in the pay matrix.
What is 7th grade pay?
1. Grade Pay 1800 to 2800 – Level 1 to Level 5
| GP | 1800 | 1900 |
|---|---|---|
| Level | 1 | 2 |
| 5 | 20300 | 22400 |
| 6 | 20900 | 23100 |
| 7 | 21500 | 23800 |
What is new retirement age?
New Delhi: The government is planning to extend the retirement age of all central government employees by two years — from the current 60 to 62 years. The decision to extend the retirement age is well-timed both politically and economically.
What is the salary of Central Govt Employees?
Notably, salaries of Central government employees are currently calculated at the fitment factor of 2.57 per cent and the basic salary is RS 18,000. If the Centre decides to increase tge fitment factor to 3.68 per cent the basic salary will move up by Rs 8000 and reach a Rs 26,000 level.