11th Bipartite Wage Settlement - Latest Updates - Core committee of award staff unions n IBA under the chairmanship of G Rajkiran Rai MD Union Bank concluded today on 18.08.18 at IBA hall Mumbai.
Details of the issues agreed.
#Revised DA Formula and improvements in compensation against price rise:--- UFBU will submit a details note.
#Regarding HRA reimbursement:----On producing rent receipt which will come under load factor.
# Increase in Transport Allowance:-–- Substantial increase
# Leave matters:---
CL no increase.
PL:--- Other than LFC 10 days notice required.
SL:--- Over 30yrs 30 days per yr maxm 720days.
Sick leave may be granted to women employees to look after sickness of a child below 8yrs.Over and above maternity leave another 2months to be given to cover cases of hysterectomy wherein maternity leave is already exhausted.
Paternity leave will be granted for child adoption.
Extraordinary leave will be permitted up to 120 days.It is agreed to give detailed notes on Leave Bank.
# Improvement in LFC:----
For clerical 4400/2200kms actual travel.
For Substaff 5100/2550kms actual travel.Road mileage charges 8/- kms in place of 6/-kms.
Sight seeing and local charges will be paid by the Bank within overall limit.GST will also be reimbursed.Train fare of Rajdhani n Shatabdi will be reimbursed.
#DA link Pension:---
Service charges livied on employees under NPS will be borne by the Bank.
#Dependent Income:---
It is agreed to Rs 12000/-in place of Rs.10000/-.pm.
#Improvement in other allowance:---
Substantial increase (around 15%)in cycle washing and other allowances.
#New Allowance Introduced:---
Lodging allowance in which amount will cover later.
#Deployment policy.:---
It is agreed for Rs 600pm. In other like subatical leave , Gratuity ,Annual Medical ,Pension ,Family pension will be discussed in main negotiating committee.
Some of the issues like 5days banking ,PH issues ,All area allowances, Absorption of temperorary workers will follow govt guidelines.
Next full negotiating committee will meet in the first week of Sept 2018 .