11th BPS Wage Revision is finally finalized and signed. Major highlights of the settlement between IBA and Clerks as well as sub staffs salary and wage hike.
CONGRATULATIONS - DIWALI DHAMAKA, 11th BPS Wage Revision signed on 11th Nov. 2020. As per AIBEA, ONE NATION, ONE SALARY ACHIEVED.
The 11th Bipartite Wage Settlement for the bank employees are signed on 11th Nov 2020 after delay in more than 3 years. The 11th Bipartite Settlement on
revision of wages and improvement in service conditions of bank
employees has been signed with IBA at Mumbai.
Salient Features:
• INCREASE IN WAGE BILL Rs, 3385 CRORES PER YEAR
• 29 BANKS COVERED – 12 PSB + 10 PVT BANKS + 7 FOREIGN BANKS
• 5 LACS EMPLOYEES OF PUBLIC SECTOR BANKS, PRIVATE BANKS & FOREIGN BANKS
COVERED
• PERIOD : NOV. 2017 TO OCT 2022
• FIRST TIME – UNIQUE – UNIFORM BASIC, DA, HRA, SPL. ALLOWANCE, TRANSPORT
ALLOWANCE, ETC.
ALL OVER INDIA
STAGNATION INCREMENT
CLERICAL : RS. 1990 – 9 INCREMENTS ONCE IN 2 YEARS
SUBSTAFF : RS. 1000 – 9 INCREMENTS ONCE IN 2 YEARS
SPECIAL ALLOWANCE:
RATE : 16.4 % OF BASIC PAY - D.A. IS PAYABLE ON SPECIAL ALLOWANCE
• TRANSPORT ALLOWANCE :
RS. 600 PER MONTH TO ALL CLERKS AND SUBSTAFF
DA IS PAYABLE ON TRANSPORT ALLOWANCE
HOUSE RENT ALLOWANCE
RATE : UNIFORM RATE AT 10.25% ON PAY ALL OVER INDIA
WHERE AN EMPLOYEE IS TRANSFERRED BY MANAGEMENT , HE WILL GET 11% HRA OR HE CAN
CLAIM 150% OF THE ENTITLED HRA SUBJECT TO PRODUCTION OF RENT RECEIPT.
Also Read - Calculate Your Salary Hike
• ANNUAL MEDICAL AID: Rs. 2355 per annum