8th Pay Commission Pay Matrix: Lakhs of central government employees in India have been keenly waiting for the 8th Pay Commission to be formed. Once the pay commission is established and its recommendations get the Cabinet’s approval, there is likely to be a significant rise in the salaries of central government employees. However, the salary jump will depend on the fitment factor.
The salary calculation may change at different fitment factors.
A fitment factor is a multiplier to calculate the basic pay and pension for a central government employee.
Different fitment factors are making the rounds. If the fitment factor for the 8th Pay Commission is 2.28, what can be the revised basic pays for central government employees with basic salaries of Rs 24,200 (Level 1), Rs 30,200 (Level 2), Rs 40,600 (Level 3), Rs 50,400 (Level 4), and Rs 61,000 (Level 5)?
What can be fitment factor for 8th Pay Commission?
It will depend on the dearness allowance (DA) rate and the expected salary rise on January 1, 2025.
There are many fitment factors making the rounds, such as 1.92, 2.08, 2.28, 2.57, and 2.86.
Fitment factors for 6th and 7th Pay Commission
The fitment factor for the 6th Pay Commission was 1.92, while for the 7th, it was 2.57.
What changes apart from basic pay in pay commission
House rent allowance, travelling allowance, NPS contribution amount, Central Government Health Scheme contribution amount, and other allowances also change along with the basic salary.
Calculations for story
The figures that we will calculate will be revised basic pay, revised HRA (for X cities with 30% HRA), revised TA (for higher TPTA cities), NPS contribution (10% of basic pay+DA), CGHS contribution, and the estimated net salary.
We will calculate these figures for employees with basic pay of Rs 24,200 (Level 1), Rs 30,200 (Level 2), Rs 40,600 (Level 3), Rs 50,400 (Level 4), and Rs 61,000 (Level 5).
All calculations are at a 2.28 fitment factor.
Revised figures for employee with Rs 24,200 (Level 1) basic pay
Revised basic pay- Rs 55,176
Revised HRA- Rs 16,553
Revised TA- Rs 3,600
Gross salary- Rs 75,329
NPS contribution- Rs 5,518
CGHS contribution- Rs 250
Net salary- Rs 69,561
Revised figures for employee with Rs 30,200 (Level 2) basic pay
Revised basic pay- Rs 68,856
Revised HRA- Rs 20,657
Revised TA- Rs 3,600
Gross salary- Rs 93,113
NPS contribution- Rs 6,886
CGHS contribution- Rs 250
Net salary- Rs 85,977
Revised figures for employee with Rs 40,600 (Level 3) basic pay
Revised basic pay- Rs 92,568
Revised HRA- Rs 27,770
Revised TA- Rs 3,600
Gross salary- Rs 1,23,938
NPS contribution- Rs 9,257
CGHS contribution- Rs 250
Net salary- Rs 1,06,472
Revised figures for employee with Rs 50,400 (Level 4) basic pay
Revised basic pay- Rs 1,14,912
Revised HRA- Rs 34,474
Revised TA- Rs 3,600
Gross salary- Rs 1,52,986
NPS contribution- Rs 11,491
CGHS contribution- Rs 250
Net salary- Rs 1,28,057
Revised figures for employee with Rs 61,000 (Level 5) basic pay
Revised basic pay- Rs 1,39,080
Revised HRA- Rs 41,724
Revised TA- Rs 3,600
Gross salary- Rs 1,84,404
NPS contribution- Rs 13,908
CGHS contribution- Rs 250
Net salary- Rs 1,49,926
(Disclaimer: Our calculations are projections and are not for official purpose. Actual calculations may vary.)