Central government employees might have a pay hike for this New Year. According to reports available in media, the union government might announce a salary hike in the "fitment factor" of central and state employees.

Fitment factor
the central government employees were demanding for minimum salary hike for a long time. They demanded to hike the minimum pay of Rs. 18,000 to Rs. 26,000. In addition to that, they demanded the fitment factor to hike from 2.57% to 3.68%. Central government employees' basic salary is generally multiplied by the fitment factor. If the government approves the demand regarding the fitment factor, then the employee will have an increase of Rs. 8,000 in their minimum salary.
For example, when a central government employee draws a basic salary per month of Rs. 20,000, his/her monthly salary will be Rs. 51,400, other than the allowance.
The fitment factor of the union government employees is decided before the Union Budget presentation. If the government revises the fitment factor before the next budget, then the union government employees can expect a salary hike for them. So, with the fitment factor hike, the employees' minimum wage will also increase.
More From GoodReturns

1:1 Bonus, 1:5 Split, 39 Dividends: Hindustan Zinc Share Rally 3% As Silver Rates Jump: Buy This Vedanta Stock

Gold Rates In India Today Crash Again On Inflation Fear; Gold Falls Rs36,500 In 3 Days; 24K, 22K, 18K Gold

Gold & Silver Rates Today Live: MCX Gold Crashes By Rs 5,645, Silver Falls By Rs 16,540; 24K, 22K, 18K Gold

1:5 Split Soon? Vedanta Ltd To Consider 3rd Interim Dividend On March 23, Share Jumps; Record Date & Buy Call

Gold Rates & Silver Rates Today Live: MCX Gold & Silver Price Gives Up Some Early Gains; 24K, 22K, 18K Gold

Gold Rates Crash by Rs. 33500/100g in 3 Days: Bangalore, Chennai, Hyderabad Record Sharp Fall on March 14

Bengaluru Power Cut Today: Key Areas To Face 7-Hour Power Outage for BESCOM Maintenance On March 15| Full List

Gold Rates In India Crash Continues Today, 24K, 22K, 18K Gold Prices On Mar-16; Gold Rate Falls By Rs 41,400

Gold Rate in India Takes Hit Amid Iran-US War: 24K Sinks Rs 1.18 Lakh/100 Gm In 2 Week; Silver Down | March 13

PM-Kisan Samman Nidhi 22nd Installment Big Update: How To Check Eligibility, e-KYC, Status & Beneficiary List

Emirates, Etihad, Air India Express Cancel Dubai, Abu Dhabi, Dammam Flights on 16-17 March; Check Status Today



Click it and Unblock the Notifications