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LATEST CENTRAL GOVERNMENT EMPLYOEES NEWS
34% DA Order for Central Govt Employees wef 01.01.2022 - Finmin Orders 2022
Revised Rates of HRA 27%, 18% and 9% from 01.01.2021 - Finmin Orders 2021
Central Government Holiday List 2022

LATEST CENTRAL GOVERNMENT PENSIONERS NEWS
Revised Rate 34% DR Order for Central Government Pensioners and Family Pensioners from 1.1.2022
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 BPS Expected Salary Calculator | 11th BPS Arrears Calculator for Bank Officers Workmen

11th BPS Expected Salary Calculator | 11th BPS Arrears Calculator for Bank Officers Workmen

SALARY AND ALLOWANCES

The remuneration package of the Bank officers needs to be framed in such a manner that officers would feel that they are valued and fairly paid considering their workload and undertaking of enormous risks and responsibilities.

Also Read: Congratulations to All Bank Employees / Officers-Long Awaited 11th Bi-Partite Settlement / 8th Joint Note Signed on 11-11-2020

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

Revision in Dearness Allowance for the quarter Aug’20 to Oct’20
Dearness Relief for RBI Pensioners 1.60% increase from August 2020 to January 2021

They should be treated at par with Government officials and PSU officers. As stated in the 7 Pay Commission Report the status of an officer in the society should also be taken into account while fixing the salary.

Remuneration of officers is an important element of proactive functioning in Banks in this era of competitive scrimmage and their commitment, dedication, and hard labour towards the progress of the economy of the country.

Also Read: Bank Wage Revision 22-07-2020 – 15% Salary Hike for Bank Employees

In general, the level and structure of salary/remuneration / compensation should aim to achieve four objectives as under:

(i) Salary Structure should be sufficient to attract and retain quality officers.

(ii) Salary Structure should motivate officers to work hard.

(iii) Remuneration should induce other human resource management reforms.

(iv) Salary should be set at a level to ensure relativity with a minimum salary in Banks and officers’ initial pay in line with the compression ratio, as shown below, of Central Government Group A officers’ initial pay and their minimum pay of Group D employees.

(v) Salary should take into account the Risk, Responsibility, Accountability and also the Transferability of Officers.

(vi) The Bank Officers have a status similar to the Govt Officials and to maintain that status the salary should be adequate, by offering additional cushion.

(vii) As promotions depend only on vacancies which depend on the presence and business of the individual bank’s nobody should be allowed to stagnate and running scale should be introduced.

(viii) The anguish, agony and the aspirations of lady officers should be taken into account

(ix) Superannuation benefits should help one to live a respectable life after retirement

(x) The hard work and contribution of the bankers for the development of the economy should be acknowledged through decent salary hike and allowances.

Table: 1

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The compression ratio of minimum Basic Pay of Group D employees and Group A officers under different Pay Commissions of Central Government

A*=Central Pay Commission, B*=Minimum Basic Pay (Group D) Rs. , C*=Minimum Basic Pay of Officer Grade (Group A) Rs. D*=Compression Ratio

A* B* C* D*
III CPC (1973 to 1985) 196 700 1: 3.57
IV CPC (1986 to 1995) 750 2200 1: 2.93
V CPC (1996 to 2005) 2550 8000 1: 3.13
VI CPC(2006 to 2015) 7000 (Band Pay 5200 + Grade Pay 1800) 21000 (Band Pay 15600 + Grade Pay 5400) 1: 3
VII CPC(2016 onwards) 18000 56100 1: 3.11

Table: 2

A*=Bi-partite Settlements, B*=Minimum Basic Pay (Sub-Staff) Rs. C*=Minimum Basic Pay of Officer Grade Rs., D*=Compression Ratio

A* B* C* D*
2nd Bipartite (01.01.1970) 116 500 (01.01.1970) 1: 4.31
3rd Bipartite (01.09.1978) 245 700 (01.10.1979) 1: 2.85
4th Bipartite (01.07.1983) 430 1175 (01.02.1984) 1: 2.73
5th Bipartite (01.11.1987) 815 2100 (01.11.1987) 1: 2.57
6th Bipartite (01.11.1992) 1600 4250 (01.11.1992) 1: 2.65
7th Bipartite (01.11.1997) 2570 7100 (01.11.1997) 1: 2.76
8th Bipartite (01.11.2002) 4060 10000 (01.11.2002) 1: 2.46
9th Bipartite (01.11.2007) 5500 14500 (01.11.2007) 1: 2.63
9th Bipartite (01.05.2010) 5850 14500 1: 2.47
10th Bipartite (01.11.2012) 9560 23700 (01.11.2012) 1: 2.47

The compression ratio of minimum Basic Pay of Sub-Staff and Officer Grade under different bipartite Settlements in Banks

READ ALSO:

  • 11th Bipartite Settlement on 11-11-2020 – Special Pay of Clerical Staff and Subordinate Staff w.e.f 1st Nov 2017
  • 11th Bipartite Settlement on 11-11-2020: Dearness Allowance of Bank Employees from 1st November 2017
  • 11th Bipartite Settlement on 11-11-2020: HRA and TA for Bank Employees with effect from 1st November 2017
  • DA for Bank Employees from May 2022 to July 2022 May 4, 2022Read more…
  • Dearness Relief to Bank Pensioners for the period February 2022 to July 2022 – IBA February 1, 2022Read more…
  • DA for Bank Employees from February 2022 to April 2022 February 1, 2022Read more…
  • 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…
  • 11th Bipartite Settlement RRB Wage Revision for Employees and Officers January 16, 2021Read more…
  • DA For Bank Employees from Nov 2020 to Jan 2021 December 3, 2020Read more…
  • All Bank Employees and Officers-Long Awaited 11th Bi-Partite Settlement, 8th Joint Note Signed on 11-11-2020 November 12, 2020Read more…
  • Bank Employees DA from Nov 2020 to Jan 2021 November 6, 2020Read more…
  • BIPARTITE TALKS WITH IBA ON 31-10-2020 – MOVING TOWARDS FINAL SETTLEMENT November 3, 2020Read more…
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