7th Pay Commission Big Update: More Than 1 Crore Govt Employees & Retirees To Get Salary Increment; Here’s How Much They Will Get
7th Pay Commission, Central govt employees may get fitment factor, DA hike: The government is likely to bring in some more good news for central government employees. Under the 7th Pay Commission, the Union government led by Prime Minister Narendra Modi, as per media reports, is likely to announce a hike in the fitment factor for central government employees in the coming days. This will in turn increase their salary. Also Read: Police Recruitment 2022: Bumper Vacancies Announced, Salary Upto Rs 1,12,400 – Details HereJKBOSE Update Regarding Class 10th Result Annual Regular 2021- 22 Kashmir Division
If the government decides to hike the fitment factor, it will increase the minimum wages of government employees. These employees have been, for long, demanding an increase in fitment factor from 2.57 times to 3.68 times.
In case the government increases the fitment factor to 3.68 percent, employees’ minimum salary will go up to Rs 26,000 from Rs 18,000. Currently, central government employees get their salary based on the fitment factor of 2.57 percent under the 7th Pay Commission. Fitment factor is used to calculate central government employees’ basic pay.
7th Pay Commission Latest News:
The month of February is expected to be wealthy for central government employees. Because of the DA increase for the month of January, more than 1 crore employees and pensioners will see a pay increase. The salary increase will be up to Rs 90,000.
7th Pay Commission: Central government can also once again increase the DA of central employees. If we look at the data of AICPI index, till September 2021, the dearness allowance has gone up to 33 percent. That is, according to this, there has been an increase of 2 percent in it. However, the figures for October, November and December are not yet available. It is expected that it may increase further by 1 percent. If the CPI (IW) figure remains up to 125 by December 2021, then 3 percent increase in dearness allowance is certain. That is, the total DA will increase by 3% to 34 percent. It will be paid from January 2022 and the salary of central employees will increase. Also Read: 7th Pay Commission: Latest Good News For Over 2 Million Government Employees And Pensioners7th Pay Commission: Double bonanza likely before Holi; HRA hike, DA increase to 34% for central government employees
Calculation of Hike:
An increase in 3% DA means that the total DA of Central government employees will be 34%. It means a Central government employee with a basic salary of Rs 18,000 will receive an annual dearness allowance of Rs 73,440. See calculation below:
Basic salary of employee: Rs 18,000
New DA (34%) Rs 6120/month
DA so far (31%) Rs 5580/month
How much dearness allowance increased 6120- 5580 = Rs 540/month
Increase in annual salary 540X12 = Rs 6,480
Calculation on maximum basic salary:
Basic salary of the employee: Rs 56900
New DA (34%) Rs 19346 / month
DA so far (31%) Rs 17639 / month
How much dearness allowance increased 19346-17639 = 1,707 Rs/month
Increase in annual salary 1,707 X12 = Rs 20,484
Current Dearness Allowance (DA) Increase:
According to media reports, the Dearness Allowance (DA) hike announcement could take place by the end of March. In January 2022, DA was increased by 3%, bringing the total DA received by employees to 34% from 31%. According to AICPI data, DA has reached 34.04% until December 2021. After a 3% increase in allowance, the DA on a Rs 18,000 basic salary will be Rs 73,440 per year. Also Read: State Bank of India (SBI) Jobs Requirement- 2022 | Apply Online For Various Posts:-Govt Dental College Srinagar Jobs Recruitment 2022 – details here
(With Inputs From Agencies)