IBA Direct Banks to Pay the One month Advance Salary Against the Bipartite Arrears - 11th Bipartite Wage Settlement - Latest News

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Tuesday, 1 October 2019

IBA Direct Banks to Pay the One month Advance Salary Against the Bipartite Arrears

11th Bipartite Wage Settlement Latest News Update - Keeping their promise to complete the bipartite settlement at earliest, IBA had taken a decision to grant One Month Advanace Salary (Festival Advance) against the 11th bipartite arrears to all the employees of the bank who had joined the bank before 1st Nov 2017 and 15 days salary advance to all such employees who joined the bank after 1st Nov 2017 to 31st March 2019.


IBA has sought the more time for settling the 11th Bipartite Wage Revision.


IBA had issued a circular vide ref no HR&IR/XIBPS/7944 dated 01st October 2019 in this regard and directs the management of all the banks to make the necessary arrangement before the puja festival.

Workmen Staff and officer employees may be advised by the concerned banks that the adhoc payment is being made to them as a gesture of goodwill by the management and the amount being paid now will be adjusted against the actual payable after the outcome of the ongoing wage negotiation talk.
Payment will be made after deducting the TDS under prescribed slab.

Download the IBA Letter for references - Here

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