Fitment Benefit Recommended by CPSE 3rd Pay Revision Committee
1. Fitment benefit shall be uniformly 15% on sum of Basic Pay & Stagnation increment(s) and Industrial Dearness Allowance (IDA).
2. The fitment methodology to arrive at the revised Basic Pay as on 1.1.2017 shall be as under:-
3. If the additional financial impact in the year of implementing the revised pay package is more than 20% of the average PBT of last 3 financial years (FYs), then the revised pay-package with recommended fitment benefit of 15% of BP+DA should not be implemented in full but only partly, as per the partstages recommended below:-
Further, in case of improvement in future years in the average PBT of the last 3 FYs, the Board of Directors may decide to implement the full pay package or the higher stage of the pay-package, as the case may be, upon ensuring that additional financial impact of the revised pay-package (i.e. sum total of the part stages pay-package already implemented in the earlier year and the remaining pay-package) do not exceed 20% of the average PBT of the last 3 FYs preceding the year of implementation.
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