Bank Employees to get decreased DA from May to July 2016

Dearness Allowance for Bank Employees to decrease from the current level of 42.60 % to 42% –  All India Punjab National Bank Association reports

Dearness Allowance for Bank Employees to be decreased from the current levelDA payable to Bank employees for the Quarter May to July 2016 shall be 420 slab i.e. a decrease of 6 slab below the current level

In terms of clause 7 of the 10th Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015, the rate of Dearness Allowance payable to workmen and officer employees for the quarter May to July 2016 shall be 42.00% of ‘Pay’ against 42.60% of ‘Pay’ applicable for the previous quarter i.e a decrease of 6 slab below the current level.

D.A. Rate (for working staff): 42% of Pay (Basic Pay + Spl. Pay + PQP) and on Special Allowance.

Source: All India Punjab National Bank Association

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