7th Pay Commission: Big News, Huge Salary Hike Again For Govt Employees, Check How Much
7th Pay Commission :After the recent hike in Dearness Allowance, the Central government employees are likely to get salary hike again. As per reports, The Central government might decide upon the long pressing demand of the central government employees unions on hiking the fitment factor, media reports have said. For long time, the central government employees have been pressing for the demand to raise the fitment factor from 2.57 times to 3.68 times.
Meanwhile, there are also questions as to when will government employees will receive their next DA hike. This year, the government hiked DA twice – first in March 2022 and then later in September 2022. Going by the trends, it seems that government employees are likely to receive the next DA hike in March 2023.
7th Pay Commission: How much salary will increase Here is the calculation after probable hike in fitment factor
As per reports in the media, the government can take a decision the fitment factor hike after next year’s Union Budget. If the government increases the fitment factor 3 times, then the salary of the employees excluding allowances will be 18,000 X 2.57 = Rs 46,260. At the same time, if the demands of the employees are accepted, then the salary will be 26000 X 3.68 = Rs 95,680. If the government accepts 3 times fitment factor, then the salary will be 21000 X 3 = Rs 63,000.
7th Pay Commission: Fitment Factor to Increase Soon
Media reports claimed that the Central government can take a decision regarding the fitment factor hike during next year’s Union Budget.
7th Pay Commission: DA Hiked by 4%
Last month, the Union Cabinet had approved the release of additional instalment of Dearness Allowance and Dearness Relief by 4 percent to the government employees and pensioners due from July 1, 2022.
How is DA calculated for Central government employees?
Dearness Allowance percentage = ((Average of AICPI (Base Year 2001=100) for the past 12 months-115.76)/115.76) x 100.
NOTE: AICPI is All-India Consumer Price Index
The Dearness Allowance (DA) of Central government employees is updated two times a year between January and July. The DA is calculated by multiplying the current rate of dearness allowance by the base wage.
DA is given to government workers, public sector employees, and pensioners. It is given to the employees to help with their living expenses.