8th Pay Commission Massive Update: Government holds consultations with key ministries, employees likely to get salary hike of…, fitment factors to get…
8th Pay Commission: In a major development, the Modi government has initiated discussions with key departments regarding the 8th Pay Commission. According to the reports, the government is holding consultations with the Home Ministry, Ministry of Defence, Department of Personnel and Training, and various state governments. It is important to note that once the commission is formally constituted and submits its report to the government, there be a clear picture of the new salary structure and allowances for employees.
In the 7th Pay Commission, the fitment factor was 2.57. Experts now estimate that in the 8th Pay Commission, it could range between 1.92 and 2.86. This means the higher the fitment factor, the greater the salary hike. For example, if an employee's current basic salary is ₹30,000 and the fitment factor is set at 2.57, the new basic salary would become ₹77,100.
How fitment factors of 1.92, 2.28, or 2.57 may impact Grade Pay 1900, 2400, 4600, 7600, and 8900 employees' basic salary, house rent allowance (HRA), transport allowance (TA), National Pension System (NPS) and Central Government Health Scheme (CGHS) amounts, know in this story through calculation examples. At 1.92 fitment factor
Revised basic pay: Rs 54,528 HRA: Rs 13,086.72 TA: Rs 3,600 Gross salary: Rs 71,214.72 NPS: Rs 5,452.80 CGHS: Rs 250
Net salary: Rs 65,511.92 At 2.57 fitment factor
Revised basic pay: Rs 72,988 HRA: Rs 17,517.12 TA: Rs 3,600 Gross salary: Rs 94,105.12 NPS: Rs 7,298.80 CGHS: Rs 250
Net salary: Rs 86,556.32 At 1.92 fitment factor
Revised basic pay: Rs 73,152 HRA: Rs 17,556.48 TA: Rs 3,600 Gross salary: Rs 94,308.48 NPS: Rs 7,315.20 CGHS: Rs 250
Net salary: Rs 86,743.28 At 2.57 fitment factor
Revised basic pay: Rs 97,917 HRA: Rs 23,500.08 TA: Rs 3,600 Gross salary: Rs 1,25,017.08 NPS: Rs 9,791.70 CGHS: Rs 250
Net salary: Rs 1,14,975.38 At 1.92 fitment factor
Revised basic pay: Rs 1,12,512 HRA: Rs 27,002.88 TA: Rs 3,600 Gross salary: Rs 1,43,114.88 NPS: Rs 11,251.20 CGHS: Rs 650
Net salary:Rs 1,31,213.68 At 2.57 fitment factor
Revised basic pay: Rs 1,50,602 HRA: Rs 36,144.48 TA: Rs 3,600 Gross salary: Rs 1,90,346.48 NPS: Rs 15,060.20 CGHS: Rs 650
Net salary: Rs 1,74,636.28 At 1.92 fitment factor
Revised basic pay: Rs 1,53,984 HRA: Rs 36,956.16 TA: Rs 7,200 Gross salary: Rs 1,98,140.16 NPS: Rs 15,398.40 CGHS: Rs 650
Net salary: Rs 1,82,091.76 At 2.57 fitment factor
Revised basic pay: Rs 2,06,114 HRA: Rs 49,467.36 TA: Rs 7,200 Gross salary: Rs 2,62,781.36 NPS: Rs 20,611.40 CGHS: Rs 650
Net salary: Rs 2,41,519.96 At 1.92 fitment factor
Revised basic pay: Rs 1,85,472 HRA: Rs 44,513.28 TA: Rs 7,200 Gross salary: Rs 2,37,185.28 NPS: Rs 18,547.20 CGHS: Rs 650
Net salary: Rs 2,17,988.08 At 2.57 fitment factor
Revised basic pay: Rs 2,48,262 HRA: Rs 59,582.88 TA: Rs 7,200 Gross salary: Rs 3,15,044.88 NPS: Rs 24,826.20 CGHS: Rs 650
Net salary: Rs 2,89,568.68
(Disclaimer: These are projections. Actual revised amounts may vary.)
We have calculated the estimated revised basic pay, HRA, TA, NPS, and CGHS payouts at 1.92, 2.28, and 2.57 fitment factors. We have taked the HRA as 24 per cent of the employee's basic salary, TA for higher TPTA cities, and CGHS at current rates. We will take 2 basic pays each from Pay Grades 1900, 2400, 4600, 7600, and 8900.
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