Revised Wages of Officers after 10th BPS- by
It is being gossiped that the nitty gritty of wage revision is almost finalised and full settlement will be signed on 22-05-2015. I do not know how far this is true.
I have gone through several inputs gathered from various sources regarding 10th BPS. From them, I could form a reasonably accurate opinion on the shape of things to come soon.
It is learnt that the new Basic Pay will be approximately 1.66 times the present basic pay. The revised Basic Pay is expected be from Rs.24,000 (Officer in JMGS I at the first stage of the scale) to Rs.86,400.
Number of Stagnation increments may also be increased.
It is understood that a new Grade Pay will be introduced. It will be at 7% of the revised Basic Pay for officers up to MMGS III, at 11% for officers in SMGS IV and SMGS V and at 12% for TEGS VI and TEGS VII.
While this Grade Pay may attract D.A., it may not be reckoned for computing HRA, CCA, PF, Pension and Gratuity. It will also affect our future pay scales whenever any revision is made. However, there is no final word on this point.
New D.A. slab is said to be at 0.10% per slab of 4 points in 1960 series of AICPI - IW.
HRA is expected to be at 8%, 9% and 10% respectively, depending on the population group.
CCA is expected to be 3% (Max: Rs.650) for lower CCA Centres and at 4% (Max: Rs.900) for higher CCA centres.
FPP is expected to be at last increment drawn plus D.A. at 60.15% thereon. For people drawing HRA, HRA amount may also be included in FPP. It is yet to be made clear.
PQP -1 is expected to be at Rs.670 and PQP-2 is said to be at Rs.1,680.
Medical aid is expected to be Rs.8,300 for officers up to MMGS III and Rs.10,200 for officers in SMGS IV and above.
Because of low hike in Basic Pay (after D.A. merger) and higher load apportioned for HRA, most of the officers particularly who have taken leased accommodation will get only 10% hike in gross pay per month.
But, there is no word as yet about holiday on 2nd and 4th Saturday, which was used as a bait to cool down the frayed tempers of youngsters and to wean them away from new emerging groups which would have threatened the existence and relevance of UFBU in the banking industry.
However, until I see the full settlement getting signed, I'm keeping my fingers crossed.
Date: 13-05-2015 pannvalan
my basic is rs16300/- and gross salary is 35000/-pm. i live in leased accomodation house. what would be the my gross and take home pay per month.
ReplyDeletepls tell pannavalan sir
my basic is rs16300/- and gross salary is 35000/-pm. i live in leased accomodation house. what would be the my gross and take home pay per month.
ReplyDeletepls tell pannavalan sir
Don't use pannavalan as a calculator....use a calculator instead!!
DeleteIn terms of Section 20 of pension regulation, allowances attracting DA is to be considered for basic pension. Therefore, Grade pay has to be considered for superannuation benefits also. Sir, please clarify.
ReplyDeleteProbably, you are referring to this provision.
Delete"Pay" includes,
(a) in relation to a workman who had either retired or died on or
after the 1st day of January, 1986 but before the 1st day of
November, 1992,and in relation to an officer who had either
retired or died on or after the 1st day of January, 1986 but
before the 1st day of July, 1993,-
i) the basic pay including stagnation increments, if any,
and
ii) all allowances counted for the purpose of making
contribution to the Provident Fund and for the payment
of dearness allowance;
Who knows, with the connivance of IBU and perhaps GOI too, they may amend this clause too, to the detriment of bank staff.
The above provision is for workmen (award staff). For Officers, the following provision will apply.
Delete‘Pay’ for the purpose of pension shall mean Basic Pay including Stagnation increment, Professional Qualification Pay , increment component of Fixed Personal Pay and Officiating Allowance.
So, I find a contradiction here.
According to the MOU signed on 22/02/2015 the new Basic Pay for officers should be Rs 24500/ and not Rs.24000/. after merger at 4440 points (60.15%)
ReplyDeleteand loading 2% on existing BP + 60.15% + 2% it will come to Rs.23686/
Add DA as on March 2015 which is 37 slabs over and above 4440 points. In the existing BP of Rs.14500/ ,37 slabs on this BP will be Rs.805/ (14500 x 0.15% x 37 slabs) So new Basic Pay should be Rs .23686 + 805/ = Rs.24491/
why Grade Pay will not attract superannuation benefits. It is a ploy of IBA to deprive the retired persons or will retire within the period of 10 th BPS.
ReplyDeleteThe matter is very touchy and Court will decide whether Grade Pay will attract superannuation benefits. It is game to deprive the retired unfortunate bank employees. It is a new game that your salaries will increase but not your pension amount.everybody should protest against it.
Moreover the percentage of Grade Pay is not equal. The executives will draw 12% of GP whereas Scale 1 to S-3 will only 7%. The executives are yes men of the Management. No where in the country the Management like IBA is anti-empoyee. The Govt employees are the part and parcel of the goverment. Government thinks them as their family members. But in the banking sector, IBA thinks us as opponents, as enemy. Managements in the Banking sector thinks that employees take away all the profits of the banking system. During my whole carrier I have seen 8 BPS and every time IBA played a anti-employee role during wage negotiation. There should be full stop somewhere.
ReplyDeletewhy Grade Pay will not attract superannuation benefits. It is a ploy of IBA to deprive the retired persons or will retire within the period of 10 th BPS.
ReplyDeleteThe matter is very touchy and Court will decide whether Grade Pay will attract superannuation benefits. It is game to deprive the retired unfortunate bank employees. It is a new game that your salaries will increase but not your pension amount.everybody should protest against it.
Can anyone have any idea that what will be the upper limit of pay scale for officer scale-I as u have told that 14500 Will increase to 24500 Then what will be increase in upper limit which is presently 25,600 For officer scale-I . Plz tell its imp for me to know this!!!
ReplyDeleteAre pagal sb officer ka chhod clrk ka bta WO to bhut salary me RHA h
ReplyDeleteRakesh kumar Jain
ReplyDeletePalsaura Chandigarh
The actions of our great leaders to keep us in the dark as to what is happening in the wage revision creates doubts as if they are our leaders or not. Are they working for us or IBA. Under which right they will collect levy after complete sell out
Rakesh kumar jain
ReplyDeletePalsaura Chandigarh
The generations in the banking industry will not forgive the leaders if they sold our rights.The reputation and credit of our unions is at stake at this juncture.
WHY this much of insulting, biased and discriminating BPS for Officers and Employees in PSBs ?. WHO will question the AIBOC, UFBU ? Should the members go to Supreme Court to stop finalisation of this just 15 % growth and for awardance of 30% growth ?. What the AITUC, CITU, BMS, INTUC are doing for all of US ?. We request for justice and for dignified New Basic Pay Scales for Officers.
ReplyDeleteThe UFBU should at least ensure uniform grade pay across all levels and it must count for pension.The DA conversion factor should be not less than .13 Increase in HRA is a ploy to be fool bank employees and to deny long term benefit. Further the reported amount of 3200 crores earmarked for pension should immediately utilised for 100% DA to pre 2002 retirees,for up dation of pension and improvement in family pension on lines with Central services. If UFBU ensure this they will be Namak Halaal otherwise they will be remembered as Namak Haraams.
ReplyDeleteSir, is it possible to give DA on grade pay while at the same time refusing to give the benefits of PF & Pension on the same? Also, as per the projections it seems to be one of the worst settlements in the banking industry.
ReplyDeleteSir, is it possible to give DA on grade pay while at the same time refusing to give the benefits of PF & Pension on the same? Also, as per the projections it seems to be one of the worst settlements in the banking industry.
ReplyDeleteWhy so much secrecy about the negotiations? Why allow rumor mongers to work over time? No news about what happened after after April 22??? The leadership at all levels it is imperative to earn the trust of the ordinary members. No one can take anything for granted.
ReplyDelete