NEW BASIC PAY CHART (TENTATIVE) SUB STAFF CLERICAL SCALE1 SCALE2 SCALE 3 SCALE 4 SCALE 5 AND SCALE 6

11th Bipartite Settlement Arrears Calculator : 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.

Discussions were held between the Indian Banks’ Association representing Managements of banks and the authorized representatives of Workmen Unions and Officers’ Associations on wage revision for officers and workmen in banks.

11th Bipartite Settlement Arrears Calculator : 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.

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.