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LATEST CENTRAL GOVERNMENT EMPLYOEES NEWS
Central Govt Holidays 2023 | Dopt Orders on Holidays 2023
38% DA Order for Central Govt Employees wef 01.07.2022 - Finmin Orders 2022
Revised Rates of HRA 27%, 18% and 9% from 01.01.2021 - Finmin Orders 2021


Kendriya Vidyalaya Class 1 Online Admission 2023-24 Latest Updates
Kendriya Vidyalaya Online Registration for Class 1 Admission 2023-24 will commence from 27.03.2023 (Monday) 10 'o' Clock Onwards
Kendriya Vidyalaya Admission Schedule 2023-2024
KV Admission Age Limit 2023-24
KVS Admission Guidelines 2023-24 PDF

LATEST CENTRAL GOVERNMENT PENSIONERS NEWS
OROP-2 Pension Revision Table 1 to 121 for Defence Pensioners wef 1.7.2019
Annual Increment Due on 1st July to the Employees Retiring on 30th June
Notional Increment on the Day of Superannuation
FR 56(j) of CCS (Pension) Rules age of 50 years or on Completion of 30 years of Service
Coverage under CCS (Pension) Rules CG employees appointment before and after 01-01-2004

11th Bipartite Settlement Latest News 2020

Central Govt Holiday List 2023 PDF | Holiday Calendar 2023 India

11th Bipartite Settlement Latest News 2020

11th Bipartite Settlement Latest News July 2020 | 11th Bipartite Settlement Latest News

Indian Banks’ Association

READ ALSO: 11th Bipartite Settlement Expected Salary Chart for Clerks and Sub Staff w.e.f 01.11.2017

Minutes of the discussions held on 22nd July, 2020 between IBA representing Management of banks which are parties to the Bipartite Settlement and Workmen Unions and Officers’ Associations on wage revision

Bipartite talks-MOU signed – BEFI abstained from signing MOU

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.

IBA is agreeable to Family Pension at 30% without ceiling subject to discussions of modalities.

The Management and the Unions representing Officers and Workmen staff, acknowledge the need for a robust banking system which is responsive to the challenges facing the country and the need to improve further the productivity, efficiency and responsiveness to the needs of the customers and various stakeholders. With this commitment, it has been agreed to resolve the pending wage settlement issue and enter into an MoU as under:-

1. The wage revision will be effective from 1.11.2017.

2. 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.

. The new pay scales will be constructed after merging Dearness Allowance corresponding to 6352 points (average Index point as applicable for the Quarter of June, July, and August 2016) and adding thereon a loading of 2.50% on Basic Pay plus Dearness Allowance as on 31st March 2017 amounting to around Rs.1155/- Crores.

4. Distribution of annual wage increase between Workmen and Officers will be worked separately and proportionately based on breakup of establishment expenses as on 31.3.2017.

5. In today’s Banking scenario, there is stiff competition amongst different category of banks i.e.. Public sector, Private sector, Foreign banks. In order to inculcate a sense of competition and also to reward the performance, the concept of Performance Linked Pay is felt to be introduced. After prolonged discussions and deliberations on this matter, it has been agreed to introduce Performance Linked Incentive (PLI) in Public Sector Banks, which will be based on Operating/ Net Profit of the individual bank (optional for private & foreign banks). The PLI is payable to all employees annually over and above the normal salary payable. The PLI matrix decides the amount payable to the employees (in number of days of pay- Basic+DA) depending on the annual performance of the bank. All the employees will get the number of days of pay as incentive depending on where in the matrix the bank’s performance fits in, broadly as per Matrix under:

No. YoY Growth in Operating Profit No. of days for which Salary (Basic + DA) shall be paid
1 <5% Nil
2 5% to 10% 5 days
3 >10% to 15% 10 days*
4 >15% 15 days*
*3rd & 4th slabs are payable only if the Bank has Net Profit. If a Bank has growth in Operating Profit of 5% & more, but there is no Net Profit, then minimum 2nd slab of 5 days will be payable
(The PLI will be applicable from FY- 2020-21)

6. From the calendar year 2020, besides encashment of PL at the time of retirement and during availment of LFC, PL Encashment would be permitted at 5 days every calendar year (7 days in case of employees/officers of 55 years of age and above) at the time of any festival of their choice.

7. It has been agreed to increase the banks contribution to the NPS fund to 14%, i.e. 14% of Pay & Dearness Allowance instead of the present rate of 10% from the prospective date of signing the settlement subject to approval of the Govt.

8. All other issues of the Managements and Unions/Associations discussed during the process of negotiation will be settled to the mutual satisfaction.

9. The parties will meet on mutually convenient dates to draw out a detailed Bipartite Settlement/Joint Note on the various issues on which consensus positions have been reached. The parties will endeavor to finalize the Bipartite Settlement /Joint Note within a period of ninety days from the date of this minutes.

Bank Wage Revision PDF Download – Signed Copies

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  • Dearness Allowance to Bank Employees from November 2021 to January 2022 November 2, 2021Read more…
  • Bank Employees Family Pension to be increased to 30% of last pay drawn August 26, 2021Read more…
  • DA for Bank Employees from August 2021 to October 2021 August 2, 2021Read more…
  • Dearness Relief to Bank Pensioners for the period August 2021 to January 2022 – IBA August 2, 2021Read more…
  • DA For Bank Employees from May 2021 to July 2021 May 5, 2021Read more…
  • Bank Employees Wages Settlement- Lok Sabha on 15-03-2021 March 15, 2021Read more…
  • Vaccination for Bank Employees and Family Members Reimbursement of Expenses March 9, 2021Read more…
  • COVID-19 Pandemic – Treatment of Payment and Reimbursement of Hospital Expenditure Made by the Bank Management – for Tax Purpose March 2, 2021Read more…
  • IBA Model Educational Loan Scheme February 16, 2021Read more…
  • Revision of Pension of Retired Bank Employees February 4, 2021Read more…
  • Dearness Relief for Bank Pensioners 7.7% increase from February 2021 to July 2021 February 2, 2021Read more…
  • Bank Employees DA from February 2021 to April 2021 January 30, 2021Read more…
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