Saturday, May 23, 2015

Bankers may calculate their new salary from this tool and latest media report

Mr R Joshi, one of our viewers sent an excell sheet for calculation of new pay for Bank Clerk, Officers and Substaffs in respect of finalized scales consequent to Xth Bipartite Settlement (Scheduled to be signed on 25th May 2015).
Mr Joshi may be reached at mailtojoshi@gmail.com  for any further queries in this regard.
We convey our sincere gratitude to Mr Joshi for sending this calculation for benefit of the bankers.
Click here to download the utility. 
Media Report on bank pay hike.

PSU bank employees will soon get pay hike, arrears for 30 months (The Hindu Business Line)

Employees of public sector banks, old generation private sector banks and some foreign banks will be a happy lot as they will soon get 15 per cent pay hike, arrears for the last 30 months, and other benefits as part of a deal that the unions and bank managements have reached.
Unions, under the aegis of the United Forum of Bank Unions, and bank managements, represented by the Indian Banks’ Association, have worked out a detailed Bipartite Settlement/ Joint Note and the same will be formalised on May 25.
The benefits that about 7.50 lakh bank employees stand to get are a special pay, a new hospitalisation scheme backed up by insurance and holiday on every second and fourth Saturday in a month.
The back wages (arrears) that bank employees will get for the last 30 months will warm the cockles of their heart. Income tax authorities too will be happy as arrears will be taxable.
S Nagarajan, General Secretary, All India Bank Officers’ Association, said “A special allowance has been introduced for employees… there is a new hospitalisation scheme backed up by insurance.” The wage settlement will benefit 3,04,000 odd officers (as on March 31, 2012) in the banking sector.
Officers will get health insurance cover of Rs. 4 lakh and the clerical and sub-staff will get Rs. 3 lakh cover, he added.
A corporate buffer will be created by banks to reimburse hospitalisation expenditure exceeding the abovementioned limits.
Pointing out that the last wage settlement expired in October 2012, Nagarajan, in a lighter vein, observed that “Five years is the tenure of the wage settlement. We have already exhausted 30 months in coming to a settlement. It’s time now to submit the next charter of demands.”
Vishwas Utagi, Vice President, All India Bank Employees Association, said the wage settlement will benefit about 4.50 lakh clerical and sub-staff in the banking sector.
Bank employees will get close a couple of lakh rupees, on an average, as arrears in gross terms, he explained. Since payrolls are computerised, the arrears could be credited to employees’ accounts in a month.
Utagi said the issue of upgradation of pension of retirees and 100 per cent neutralisation of dearness allowance will be taken up by the United Forum of Bank Unions separately.

6 comments :

S.Lakshman Rao said...

Banking Industry is likely to approve the proposal on 25th of May!2015.The proposal about the pensioners is silent as of now.

Anonymous said...

Utility is not workable and useless

murugesan g said...

pension update needs from 1.11.2007 still
pending as 50% payment concept brought
in whereas 20 years & above completed on
attaining superannuation was not given 50%
Pension as given in Indian Govt & PSU.

SHYAMALI BASU said...

These type of worksheets contain hidden formula. Enable macro in your PC and try again.

Anonymous said...

Thank you Mr joshi for your effort and concern for fellow bankers and also this blog for putting it on blog.

mahaboob basha said...

Mr.Murugeshan, you are right. Instead of fixing 50% of last drawn pay as pension, IBA set a formula and paying less pension since 2002.In fact, average basic of preceeding 10 months OR last drawn pay WHICHEVER IS HIGHER has to be paid. Pension updation (which is 100% sure) in the coming few months will solve this problem.

s m basha

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