8th Pay Commission | Fitment Factor Salary Hikes | Bizfoc

Overview 

According to the latest report released by NDTV profit, Shiv Gopal Mishra, Secretary of the National Council of Joint Consultative Machinery (NC-JCM), reported that the demand for an increase in fitment factor from 2.57 to 2.86 should be implemented in the upcoming 8th pay commission. 

Though once in every 10 year interval, the plan to increase the fitment factor is necessary and is planned to be implemented in the year 2026. This allows the central government employees and pensioners to balance the finance. In this revision of salary and pensioners, the basic salary which starts from a certain scale has to increase. 

As per the current 7th pay commission, the minimum salary has increased from ₹7,000 to ₹17,990. This is the benefit for providing financial stability to central government employees in the economic condition of inflation. This blog has discussed in complete detail about the 8th pay commission, their features and benefits to central government employees. 

What is the 8th Pay Commission Pay Matrix?

The recent discussion arouses the discussion of 8th Pay Commission Pay Matrix which states that the employees that belong to central government should receive a benefit of increased fitment factor. The fitment factor increased between 20%-35% which rose to 2.86 due to which minimum salary increased from ₹7,000 to ₹17,990. At present, the fitment factor under 7th Pay Commission is 2.57 which is important to increase due to inflation. 

Key Features of 8th Pay Commission Pay Matrix 

Here’s the important overview on 8th Pay Commission Pay Matrix:

Benefits of 8th Pay Commission Pay

Here’s the benefit of 8th pay commission pay matrix:

• Increased Salaries: 

The 8th pay commission is majorly focused on hiking the floor or minimum salary between 21% to 35%. This hike brings the better opportunity for better standard of living for government employees and pensioners. 

• Improved retirement benefits:

The estimated increase of 30% in the overall pay for pensioners allows finance opportunities for the post-retired employee. 

• Boosts employee morale and motivation:

By offering a higher fitment factor in the basic salary, the employee puts in the effort that is highly appreciated and performs well. 

• Reduced financial stress due to inflation 

Inflation which is the core part of major financial stress can be overcome through this salary hike. 

Fitment Factor in 8th Pay Commission

Shiv Gopal Mishra, the secretary of National Council of Joint Consultative Machinery (NC-JCM), has recently demanded to increase the fitment factor. He says that the 8th pay commission is likely to increase the fitment factor from 2.57 to 2.86 to improve their stability in terms of finance. 

The factor that converts the old salary factor into new salary factor which is the number to revise old pay compared to revised and new pay. 

Expected 8th Pay Commission Minimum Basic Salary Table

The following is the list of expected 8th pay commission minimum basic salary:

Difference between 7th and 8th Pay Commission 

Here’s the comparison of 7th pay commission to 8th commission, which are as follows:

Conclusion 

The 8th pay commission allows the central government employee to earn the basic minimum salary at maximum fitment factor. This pay commission is the replacement of 7th pay commission by revising the pay scales, allowances and pension benefits once in every ten years. The 8th pay commission is established in the year 2024 and is anticipated to launch by January 2026 as per the implementation date of previous pay commission, i.e., 7th pay commission in January 2016. 

Frequently Asked Questions 

1) What is the new fitment factor?

The new fitment factor in 8th pay commission is expected to increase to 2.86. 

2) Is there any official declaration for 8th pay commission?

No, there is not any current official declaration for 8th pay commission yet for central government employees. 

3) What is the expected salary in 8th pay commission? 

According to the 8th pay commission and expectation of increase in fitment factor to 2.86, the expected minimum or bare salary is fixed to ₹51,451 instead of ₹17,990.

4) Is there any relief for central government employees on the basis of salary hike?

Yes, the central government employees will be relieved from the increase in salary hike from the increased fitment factor in 8th pay commission.