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11th Bipartite Settlement Saturday Holiday : Calculations, Arrears, Salary PDF


Published on Mar 04, 2023

11th Bipartite Settlement Saturday Holiday : Calculations, Arrears, Salary PDF

 

11th Bipartite Settlement Saturday Holiday : The annual wage increase in salary and allowances is agreed at 15% of the wage bill as on 31-3-2017 which works out to Rs.7,898 crores on Payslip components.

Working Hours shall not exceed 40 hours per week and 8 hours per day (which does not include lunch break of 30 minutes duration). 2. All Saturdays will be holidays. In other words, banks will work only on 5 days in a week.

How to Calculate : The date of effect is 01.11.2017 and merger point at consumer price index 6352 have already been decided. It means that 478 slabs will be merged in basic. (6352 - 4440 = 1912 ÷ 4 = 478 slabs) i.e 47.8% d.a as the rate is .10 paise per slab. In r.b.i. if, Govt approves, pensioners will be benefited in updation of pension. If 10% load is approved over 47.8% d.a it comes to 162.58%.(100 + 47.8 = 147.8 × 10% = 162.58) i.e 163.




11th Bipartite Settlement

The following points appear to have been decided so far!

1) 11th Bipartite Settlement 5 Days Working Not Agreed : 5 day per week not agreed yet!

2) 15% wage increase agreed!

3) 47.80% (478 Slabs) DA merger agreed!

4) 2.50% Load Factor on Basic pay agreed!

5) Total increase in Pay @49.80 % agreed!

6) Balance 13% will be distributed in various Allowances agreed!

7) DA rate in future will be @ 0.07 % per slab (now balance of slabs will be 681 - 478 = 203 slabs)

11th Bipartite Settlement

11th Bipartite Settlement

8) From the calendar year 2020, besides encashment of PL at the time of retirement and during availment of LFC, PL Encashment would be permitted at 5 days every calendar year (7 days in case of employees/officers of 55 years of age and above) at the time of any festival of their choice.

9) It has been agreed to increase the banks contribution to the NPS fund to 14%, i.e. 14% of Pay & Dearness Allowance instead of the present rate of 10% from the prospective date of signing the settlement subject to approval of the Govt.

Effective Date of
Agreement Signed at

01/11/2017
15% SA (DA)

 

For Subordinate Staff

 

7.75%

Total Approx Burden

7898 Crore

For Officers up to Scalce III

7.75%

Load Factor

2.5%

For Officers above Scalce III

10%

New Da Slab

0.07%

 

 

Slabs as on 01-11-17

516 PQA & FPA to be calculated at

 

Slabs Merged

478 1.63 multiplying factor

 

Reamaing Slabs

38 HRA

10%

New DA Rate on 01-11-17

2.66% CCA

4%

New DA rate on 22-07-20

19.81% NPS contribtion(BP+DA+SA)

14%

 

NEW BASIC PAY CHART (TENTATIVE)

Prepared By Subhash Chander Gupta, Manager Punjab National Bank, Hongkong Back Office, New Delhi

 

SUB STAFF

 

CLERKS

 

SCALE - I

 

 

STAGE

10TH BPS
w.e.f 01.11.12

11TH BPS
w.e.f 01.11.17

10TH BPS
w.e.f 01.11.12

11TH BPS
w.e.f 01.11.17

10TH BPS
w.e.f 01.11.12

11TH BPS
w.e.f 01.11.17

1

9560

14483

11765

17823

23700

35904

2

9885

14975

12420

18816

24680

37389

3

10210

15468

13075

19808

25660

38874

4

10535

15960

13730

20800

26640

40358

5

10860

16452

14545

22035

27620

41843

6

11270

17073

15360

23270

28600

43328

7

11680

17695

15175

22989

29580

44812

8

12090

18316

17155

25989

30560

46297

9

12500

18937

18135

27474

31705

48031

10

12910

19558

19115

28958

32850

49766

11

13400

20300

20095

30443

34160

51751

12

13890

21043

21240

32178

35470

53735

13

14380

21785

22385

33912

36780

55720

14

14870

22527

23530

35647

38090

57704

15

15440

23391

24675

37381

39400

59689

16

16010

24254

25820

39116

40710

61674

17

16580

25118

26965

40851

42020

63658

18

17235

26110

28110

42585

43330

65643

19

17890

27102

30230

45797

44640

67627

20

18545

28095

31540

47782

45950

69612

S-1

19200

29087

32850

49766

47260

71597

S-2

19855

30079

34160

51751

48570

73581

S-3

20510

31072

35470

53735

50030

75793

S-4

21165

32064

36780

55720

51490

78005

S-5

21820

33056

38090

57704

 

 

S6

22475

34049

39400

59689

 

 

S-7

23130

35041

40710

61674

 

 

S-8

23785

36033

42020

63658

 

 

 

SCALE - II

 

SCALE - III

 

SCALE - IV

 

 

STAGE

10TH BPS
w.e.f 01.11.12

11TH BPS
w.e.f 01.11.17

10TH BPS
w.e.f 01.11.12

11TH BPS
w.e.f 01.11.17

10TH BPS
w.e.f 01.11.12

11TH BPS
w.e.f 01.11.17

1

31705

48031

42020

63658

50030

75793

2

32850

49766

43330

65643

51490

78005

3

34160

51751

44640

67627

52950

80217

4

35470

53735

45950

69612

54410

82428

5

36780

55720

47260

71597

55870

84640

6

38090

57704

48570

73581

57520

87140

7

39400

59689

50030

75793

59170

89640

8

40710

61674

51490

78005

60820

92139

9

42020

63658

52950

80217

 

 

10

43330

65643

54410

82428

 

 

11

44640

67627

55870

84640

 

 

12

45950

69612

57330

86852

 

 

13

47260

71597

58790

89064

 

 

14

48570

73581

 

 

 

 

15

50030

75793

 

 

 

 

16

51490

78005

 

 

 

 

17

52950

80217

 

 

 

 

18

54410

82428

 

 

 

 

19

55870

84640

 

 

 

 

20

57330

86852

 

 

 

 

S-1

 

 

 

 

 

 

S-2

 

 

 

 

 

 

S-3

 

 

 

 

 

 

S-4

 

 

 

 

 

 

S-5

 

 

 

 

 

 

S6

 

 

 

 

 

 

S-7

 

 

 

 

 

 

S-8

 

 

 

 

 

 

 

SCALEV

 

SCALE VI

 

 

STAGE

10TH BPS
w.e.f 01.11.12

11TH BPS
w.e.f 01.11.17

10TH BPS
w.e.f 01.11.12

11TH BPS
w.e.f 01.11.17

1

59170

89640

68680

104047

2

60820

92139

70640

107016

3

62470

94639

72600

109985

4

64270

97366

74560

112955

5

66070

100093

76520

115924

Bank staff get 15% pay hike; PSB employees get PLI, too

The protracted 11th bipartite wage settlement negotiations between bank unions and the Indian Banks’ Association (IBA) concluded on Wednesday, with both sides agreeing to an annual wage increase and allowances of 15 per cent of the wage bill as on March 31, 2017.

Both sides agreed to the introduction of PLI in PSBs, which will be based on the operating profit/net profit of the individual bank.

For private and foreign banks, PLI is optional. The PLI is payable to all employees annually over and above the salary, as per the minutes of the discussion between the unions and IBA.

Now the formula of new agreement is being discussed in industry and in R.B.I

The date of effect is 01.11.2017 and merger point at consumer price index 6352 have already been decided. It means that 478 slabs will be merged in basic. (6352-4440 = 1912 ÷ 4 = 478 slabs) i.e 47.8% d.a as the rate is .10 paise per slab. In r.b.i. if, Govt approves, pensioners will be benefited in updation of pension. If 10% load is approved over 47.8% d.a it comes to 162.58%.(100+47.8=147.8×10%=162.58)i.e 163.

It means 100 rupee basic pention becomes rs.163. So conversion figure will be 1.63. I have taken 10% load for updation because in last updation 10% load was given to all pensioners irrespective of their date of retirement. If load is less then the conversion factor will come down accordingly. After merger at index 6352 the D.A rate will be 7 paise over and above rs 6352. Arrears will be from the implementation of updation I.e.March 2019.

In today's Banking scenario, there is stiff competition amongst different category of banks i.e., Public sector, Private sector, Foreign banks. Inorder to inculcate a sense of competition and also to reward the performance, the concept of Performance Linked Pay is felt to be introduced. After prolonged discussions and deliberations on this matter, it has been agreed to introduce Performance Linked Incentive (PLI) in Public Sector Banks, which will be based on Operating/ Net Profit of the individual bank (optional forprivate & foreign banks).

The PLI is payable to all employees annuaJiy over and above the normal salary payable. The PLI matrix decides the amount payable to the employees (in number of days of pay­ Basic+DA) depending on the annual performance of the bank. All the employees will get the number of days of pay as incentive depending on where in the matrix the bank's performance fits in broadly as per Matrix under :

11th Bipartite Wage

Distribution of annual wage increase between Workmen and Officers will be worked separately and proportionately based on breakup of establishment expenses as on 31.3.2017.

From the calendar year 2020,besides encashment ofPL atthe time ofretirement and during availment of LFC, PL Encashment would be permitted at 5 days every calendar year (7 days incase ofemployees/officers of 55 yearsof age and above) at the time ofany festival oftheir choice.

It has been agreed to increase the banks contribution to the NPS fund to 14%, i.e. 14% of Pay& DearnessAllowance instead ofthe presentrate of 10% from the prospective date of signing the settlement subject to approval ofthe Govt.

All other issues oftheManagementsand Unions/Associations discussed during the process ofnegotiation will be settled to the mutual satisfaction.

The parties will meet on mutually convenient dates to draw out a detailed Bipartite Settlement/Joint Note on the various issues on which consensus positions have been reached. The parties will endeavor to finalize the Bipartite Settlement /Joint Note within a period of ninety days from the dateof this minutes.


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