8th Pay Commission: What is 5-fitment formula that could hike salaries by 400%, how to calculate
India, May 28 -- The 8th Pay Commission, expected to impact more than 1.1 crore beneficiaries including central government employees, pensioners and their families, is yet to submit its recommendations. Meanwhile, the Indian Railway Technical Supervisors' Association (IRTSA) has proposed a five-fitment-factor formula for salary revision that, in some cases, could raise salaries by over 300-400%.
The railway union has suggested different fitment factors for different pay levels to ensure balanced salary hikes across lower, middle and senior employees, says a Live Mint report .
A fitment factor is a multiplier used by the Pay Commission to revise the basic pay and pensions of government employees. The revised salary is calculated by multi...
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