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Bank Wage Revision Agreement – Salient features of the 10th Bipartite Settlement

Banks Management and Bank Unions have signed Wage Revision Agreement today and the salient features of the Agreement is given below

MEMORANDUM OF SETTLEMENT dated 25th May 2015 between the Managements of 43 Banks as represented by the Indian Banks’ Association and their workmen as represented by the All India Bank Employees’ Association, National Confederation of Bank Employees, Bank Employees’ Federation of India, National Organisation of Bank Workers and Indian National Bank Employees’ Federation. The Salient features of the wage revision agreement is given below

Pay Scales (Merger at 4440 Points)
Clerks 11765 – 655/3 – 13730 – 815/3 – 16175 – 980/4 – 20095 – 1145/7 – 28110 – 2120/1 – 30230 – 1310/1 – 31540
Sub-staff 9560 – 325/4 – 10860 – 410/5 – 12910 – 490/4 – 14870 – 570/3 – 16580 – 655/3 – 18545
Special Pay – Clerks
Single Window Operator 820
Head Cashier II 1280
Special Assistant 1930
Bill Collector/Armed Guard 390
Daftary 560
Electrician/AC Plant Helper 2040
Driver 2370
Head Peon 740
 
D.A. Rates (%) per slab
0.10% per slab over 4440 points
Quarterly D.A. slabs and % from 1.11.2012 to 31.7.2015
Quarter Avg.Index

Slabs

D.A. %
9th BP 10th BP 9th BP 10th BP
Nov-12 4876 510 109 76.50% 10.90%
Feb-13 4976 535 134 80.25% 13.40%
May-13 5080 561 160 84.15% 16.00%
Aug-13 5208 593 192 88.95% 19.20%
Nov-13 5400 641 240 96.15% 24.00%
Feb-14 5500 666 265 99.90% 26.50%
May-14 5436 650 249 97.50% 24.90%
Aug-14 5568 683 282 102.45% 28.20%
Nov-14 5764 732 331 109.80% 33.10%
Feb-15 5772 734 333 110.10% 33.30%
May-15 5788 738 337 110.70% 33.70%
For Part time empl Actual Service to be reckoned for Pension.
Hill & Fuel – 8% Max. 1500, 4% Max. 600, 3% Max. 500
Proj Area Comp Allow. – Clk – 250, 200 – SS – 200, 175
Halting Allow. – Clk – 700, 600, 450 – SS – 500, 400, 250
Provident Fund

NPS

10% on revised Pay 10% on revised Pay + D A
Special Allowance (New Allowance)
7.75% of Basic Pay.  D A is payable on this allowance.
New Cashless Medical Scheme:  All employees/retires will be covered by a New Scheme which provides for full reimbursement of Hospitalisation Expenses.

Download Bank Wage Revision Salient Features

Download 10th Bipartite Settlement for Bank Employee 

Click to read more features of Bank Wage Revision Bipartite Settlement

Bank Wage Revision Agreement – Arrears working software for Clerks

Bank Wage Revision Agreement – Arrears working software for Sub-Staff

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