All banking solutions wage revision

All banking solutions wage revision details

All India Bank Employees Association (AIBEA) has published the complete report on the wage revision. The report and the message on the wage revision talks can be checked at www.Bankunionaibea.in

Check out the AIBEA Wage Revision Talk Report and Signed Agreement

As per the latest meeting held between five workmen unions and IBA, these are the updates after detailed discussions.

1. Scales of Pay:

Clerical Staff: 6200 – 400 x 3 – 7400 – 500 x3 – 8900 – 600 x 4 – 11300 – 700 x 7 – 16200 – 1300 x 1 – 17500 – 800 x 1 – 18300.

Substaff: 5500 – 200 x 4 – 6300 – 250 x 5 – 7550 – 300 x 4 – 8750 – 350 x 3 – 9800 – 400 x 3 – 11000.

2. Stagnation Increment:

Clerical: 7 stagnation increments (800 x 6 once in 3 years & 800 (7th) after 2 years)

Substaff: 7 stagnation increments (400 x 7 once in 2 years)

Extended Pay Scales: (With Stagnation increment)

Clerical: 6200 – 18300 – 23900.

Substaff: 5500 – 11000 – 13800.

3. DA: 0.15% per slab over 2836 points.

4. HRA:

a) Places over 45 lacs : 10%
b) 12 to 45 lacs : 9%
c) 5 to 12 lacs : 7.5%
d) Below 5 lacs : 7%

5. Transport Allowance: (For Clerks and Substaff)

Upto 15th Stage: Rs. 225 per month

16th Stage and above: Rs. 275 per month

6. Special Pay:

For November, 2007 to April, 2010: Existing Special Pay will be revised and arrears paid for both clerks and subordinate staff.

From May, 2010 - For Clerks

*Present No Special Pay holders : Rs. 1000/-
*Present Special Pay holders : Rs. 1500/-
*Head Cashier II : Rs. 1780/-
*Special Assistant : Rs. 2180/-

(Note: Out of this, Rs. 1000/- will be added to Basic Pay and balance will continue as Special Pay.)

From May, 2010 - For subordinate staff

*Present No Special Pay holders : Rs. 350/-
*Present Special Pay holders - Revised Special Pay

(Note: Out of this, Rs. 350/- will be added to Basic Pay and balance will continue as Special Pay.)


7. Fixed Personal Pay & PQP

Will be revised based on new basic pay.

8. Hill and Fuel Allowance:

a) Places – 3000 meters and above : 8% maximum Rs. 1295/-

b) 1500 – 3000 meters : 4% maximum Rs. 510/-

c) Over 1000 meters + Mercara : 3% maximum Rs. 410

9. Medical Aid: Rs. 2000/- per year

10. Hospitalisation Scheme: Being improved with revised schedule, etc.

11. Part Time Employees: (Lump sum)

(November, 2007 to April, 2010)

Upto 3 hours per week : Rs. 1030/-

3 to 6 hours per week : Rs. 1440/-

From May, 2010 : All will be brought to 1/3rd Scale wages.

12. Halting Allowance: Being increased

13. Washing Allowance: Rs. 100/- per month

14. Cycle Allowance: Rs. 75/- per month

15. Split Duty Allowance: Rs. 125/- per month

16. Project Area Compensatory Allowance:

Group A Centres /Group B Centres

Clerks : Rs. 205/- per month/Rs. 180/- per month

Substaff : Rs. 180/- per month/Rs. 150/- per month

17. Special Area Allowance: Being revised.

18. Reimbursement in Road Travel:

Actual road mileage cost or Rs. 3 per Km whichever is less.


19. Pension:

Another option will be given to all existing employees and those who have retired / died after pension regulation 1995 / 1996.

With effect from 1-11-2007, Pension will be payable based on the revised Pay for all the existing pension optees.

20. Gratuity:

Will be payable on revised Basic Pay from 1.11.2007

21. Provident Fund: 10% of pay from 1.11.2007

22. Definition of dependence under family:
Upto monthly income of Rs. 3500/- Dependent Physically Handicapped brothers and sisters will be treated as part of employee's family.

23. Compensation for losses due to breakage or damage to goods on transfer:

With Receipt/ Without Receipt

Clerks: Rs. 1120/- / Rs. 745/-

Substaff: Rs. 745/- / Rs. 560/-

24. Special Leave for Women:

Within the maternity leave entitlement, women employees can avail 45 days special leave for undergoing hysterectomy operation.

25. Improvement in LFC:

Entitlement:

for Clerks - AC 2 Tier
for subordinate staff - AC 3 Tier

Distance:

For subordinate staff
Once in 2 years - 2500 km
Once in 4 years - 5000 km

For clerks
Once in 2 years - 2000 km
Once in 4 years - 4000 km

26. Effective Date: 1st November, 2007


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