11th BPS signed: Deatils of Bank wage revision effective 01-11-2017

Today (11^th November 2020), the representatives of UFBU  signed 11 th Bipartite settlement. The finalized the various pay-slip components in their negotiation with Indian Banks Association are as under.

The revised pay-slip of clerical staff worked out as under,

Clerical:

* Award Basic: (9 Stagnation increment, Uniform periodicity 2 yrs) 17900 – 1000/3 – 1230/3 – 1490/4

(1730/7 – 3270/1 – 1990/1 – 47920)

i.e. Rs.17900-1000-1000-1000-1230-1230-1230-1490-1490-1490-1490-1730-1730-1730-1730-1730-1730-1730-3270-1990,=47920.

The revised pay-slip of Sub-Staff  worked out as under,

Sub-Staff:14500 – 500/4 – 615/5 – 740/4 – 870/3 – 1000/3 – 28145 i.e.

Rs.14500 – 500- 500- 500- 500- 615- 615- 615- 615- 615- 740 – 740- 740-740-870-870-870-1000-1000-1000 =28145.

Stagnation increments would be 9 increments after reaching maximum. Uniformity in periodicity has also been agreed upon.

Officer Basic: 36000 to 129000 For details click officers’ salary

DA would be at 0.07% per slab of 4 points over 6352 points. On HRA, it has agreed that there would be a uniform rate of HRA in all centers as against 3 different rates as at present. Other items like PQP, Special Pay, FPP, HRA, Medical aid, etc. are being been worked out. Besides Special Allowance of 16.4% for both clerical and sub staff, DA will also be paid on Transport Allowance.

Load in basic 2.50%: 1155 Cr (Note: In 10th BPS, only 2 % load in basic).

 Basic: DA merger at 47.80%  (6352 points, 478/516 Merged slabs, 01-11-2016) + Load 2.5% of 46.90% (DA in Mar-2017).

Effect: 1.515 times increase in Basic.

Old DA:

For 1^st November 2017: 516 Slabs * 0.10 paise per slab = 51.60%,  DA for 1^st November 2020: 818 Slabs * 0.10 = 81.80%

New DA:

01-11-2017: 516 – 478 = 38 Slabs * 0.07 = 2.66%, 01-11-2020: 818 – 478 = 340 Slabs * 0.07 = 23.80%

* SA (Spl Allowance) for award staff: 16.40 % (from present 7.75%) +  Transport Allowance with DA –> Effect: 18% SA

Officers:

SA (Spl Allowance): 16.40% I to III (from present 7.75%)

SA(Spl Allowance): 19% IV & V (from present 10%).

SA(Spl Allowance): 20% VI & VI (from present 11%)

* One additional stagnation increment for Sub-staff, Clerical, Officers (some scale) as it will lead to higher basic –> higher pension.

Other highlights

* One addl Saturday holiday (5th Sat) (To be approved by Govt)

* 1.515 times of PQP, FPP, Spl Pay (with increased passing powers)

HRA: 11% for all centres, all India

CCA: Same % with higher CCA Max cap

* New Area Allowance for Non-CCA posting to encourage/compensate.

* New PL Encash: Calendar year: 5 or 7 (Age:55+) days

* Non-NPS: Bank PF:(10% of basic 66070 = 6607) + Bank Pension: (10% of  66070 = 6607) = 20% of basic 66070 = 13,214

NPS: Bank contribution 14% of Basic 66070 + DA:

* Employee: (No change) PF: 10% & NPS 10% (Basic+DA)

* Medical Cert Basis (Award): 12000 from present 8000

 * PLI (Performance Linked Incentive) Days: 0/5/10/15

* Family Pension Updation: 30% of Last Basic Salary

* Pension updation: like RBI before 30-12-2020 / 30-04-2021

Pension Fund:  Needed till 2090 as XXX joined at Age:20 in Jan-2008 will retire at Age:60 in 2048… has to get pension till Age:100 in 2088.

Details of settlement signed by workmen unions are annexed below.