CPSE Pay Revision 2017 – Fitment Benefit as per OM dated 3.8.2017
3rd Pay Revision for CPSE : Fitment Benefit as per OM dated 3.8.2017
(i) In case additional financial impact in the year of implementing the revised pay-package of a CPSE is within 20% of average PBT of last 3 years, a uniform full fitment benefit of 15% would be provided.
(ii) 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.
(iii) At the time of implementation of pay revision, if the additional financial impact after allowing full / part fitment exceeds 20% of the average PBT of last 3 years, then PRP payout / allowances should be reduced so as to restrict impact of pay revision within 20%.
(iv) Subsequent to implementation of pay revision, the profitability of a CPSE would be reviewed after every 3 years and
a) if there is improvement in the average PBT of the last 3 years, then full pay package/ higher stage of pay package would be implemented while ensuring that total additional impact (sum total of previously implemented part pay package and proposed additional package) stays within 20% of the average of PBT of last 3 years
b) if the profitability of a CPSE falls in such a way that the earlier pay revision now entails impact of more than 20% of average PBT of last 3 year, then PRP/ allowances will have to be reduced to bring down impact.
|CPSE Pay Revision 2017||Fitment Benefit|
|CPSE Pay Revision 2017||Methodology for Pay Fixation|
|CPSE Pay Revision 2017||Promotion & Annual Increment|
|CPSE Pay Revision 2017||Dearness Allowance|
|CPSE Pay Revision 2017||HRA & HRR|
|CPSE Pay Revision 2017||Performance Related Pay (PRP)|
|CPSE Pay Revision 2017||Superannuation Benefits and Medical Benefits|
|CPSE Pay Revision 2017||Leave regulations/management|
|CPSE Pay Revision 2017||Date of Implementation and Payment of Allowances|