Sunday, January 29, 2023

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7th Pay Commission latest news: Central Govt employees to get double bonanza in 2023, this much salary will increase!

7th Pay Commission latest news: There are only a few days till the new year 2023, and the new year will bring numerous gifts for central staff. The first rise in Dearness Allowance and the second modification of Fitment Factor are included in this. If this occurs, the wage of central personnel will skyrocket in the new year 2023. Central staff’ salaries are expected to treble, according to estimates.

DA may rise by 4%

Following a 4% increase in DA in September 2022, the central government can once again make several large gifts to its employees in the 2023 by boosting dearness allowance. Actually, central employees’ dearness allowance is evaluated every six months. Dearness allowance is increased twice a year based on AICPI results. The first hike takes place in January, and the second in July.

The dearness allowance of central employees will be increased in 2023, as it is every year. Before Holi, the Dearness Allowance (DA) for January 2023 is normally announced. Based on current inflation estimates, it appears that the DA of central staff will grow by 4% next year as well. If this occurs, the cost of central workers will rise from 38 percent to 42 percent.

Significant update on fitting factor

At the same time, it has been reported that the central government plans to boost the fitment factor of more than 52 lakh central employees in the second month of the new year. According to rumours, the government may decide on this demand of central personnel following the presentation of the budget on February 1, 2023 next year.

The base salary rises significantly as a result of the fitting factor. Indeed, central employees have long demanded a rise in the fitment factor from the central government.

7th Pay Commission latest news: Fitment factor is currently applied to central staff at a rate of 2.57 percent. There is a push to raise it to 3.68 times. The minimum basic wage will rise from Rs 18,000 to Rs 26,000 as the fitment factor rises from 2.57 to 3.68. If the central government agrees to this demand, the minimum wage for central government employees will skyrocket.

Significantly, the fitting factor was last enhanced in the year 2016. In the same year, the 7th Pay Commission was also enacted. At the time, the minimum wage for employees increased from Rs 6000 to Rs 18,000. While the upper limit was raised from Rs 90,000 to Rs 2.5 lakh. The government can now raise the wage of central personnel again this year.

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