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HomePersonal FinanceGood News For Employees! DA will increase to 46 percent! Increase in...

Good News For Employees! DA will increase to 46 percent! Increase in minimum wage possible, salary will increase up to Rs 45000, know updates

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Before the upcoming elections, the government can give important gifts to the employees. At present the fitment factor of central employees is 2.57 and dearness allowance is 42%. And dearness allowance will soon be increased by 4 percent.

It is expected that in view of the elections, the fitment factor under the Seventh Pay Commission may also be increased from 3.68. If this happens then the salary of the employees will see an increase of up to Rs 35,000.

Fitment Factor: Modi government can soon give a big gift to the employees. An important decision can be taken soon to increase their minimum wage. Before the Lok Sabha elections to be held in 2024, some big news may come out on the increase in fitment factor including minimum salary of central employees.

Demand to increase fitment factor to 3.68 times

At present the fitment factor for 47 lakh employees is 2.57 percent. There is a demand to increase it to 3.68 times. If this happens then the minimum salary of the employees will increase from Rs 18000 to Rs 26000. The employees union demands that the fitment factor be increased by 3.68 times. However, the government can also consider increasing it up to 3 times. If this happens, the minimum salary of central employees may increase from Rs 18000 to Rs 21000.

The fitment factor was increased in 2016

However, no official confirmation has been made on this at present. The same employee union is continuously demanding increase in minimum wage. Earlier in 2016 the fitment factor was increased. With which the minimum salary of the employees had increased to Rs 18000. According to the media report, in view of the upcoming elections, instead of increasing the fitment factor, the government can also decide on a new formula to increase the salary.

It is expected that the fitment factor can be increased in 2024 based on the recommendation of the Seventh Pay Commission. There are elections in 2024, in such a situation an important decision can be taken on implementing the fitment factor from 2026.

According to the report, after the government said that there is no proposal of any kind on the 8th Pay Commission, it is being speculated that a new formula can be brought to increase the salary. After a period of time, the salary of government employees will automatically increase. For which automatic pay revision system can be started.

However, soon dearness allowance is going to be 50%. It was estimated to reach 50% by January 2024. In such a situation, if the DA is more than 50%, there can be an automatic revision in the salary.

If this happens, then 62 lakh pensioners including 47 lakh employees of the Center will get its direct benefit. Due to increase in fitment factor, a big increase in the salary of the employees will be recorded. Along with this, employees may see a double increase in their salaries. Also their salary can increase up to Rs 95000.

Pravesh Maurya
Pravesh Maurya
Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ businessleaguein@gmail.com

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