Know the formula to calculate the hiked salary in 11th Bipartite Wage Revision for bankers - In the recent concluded 11th BPS settlement between IBA and Bankers Union, it is decided to have 2.50% load factor on basic pay. The overall hike will be 15%.
Load factor is the actual hike in the basic pay other than merger of Dearness allowances. The proposed merger of DA is considered as 47.80%. The load factor is calculated on Merged Basic Pay with 2.50% load.
A simple calculator to calculate the Load Factor : Click Here
Tags:
Salary Calculator