Check Revised Salary For Clerks & Officers in Public Sector Banks

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Sunday, 1 November 2020

Check Revised Salary For Clerks & Officers in Public Sector Banks

11th Bipartite settlement Wage Revision updates - one of the viewer of the blog has updates the various components of the 11th BPS Salary structure as discussed with the meeting with IBA and going to be finalized. 

Cost: Payslip component (2017): 52655 Cr. 15% 

Increase: 7898 (Officers:4513 + Award:3385) 

Basic+DA in 52655: 46187

Load in basic 2.50%: 1155 Cr 

Basic: DA merger at 47.80% (6352 points, 478/516 Merged slabs, 01-11-2016) + Load 2.5% of 46.90% (DA in Mar-2017). 

Effect: 1.515 times increase in Basic. In 10th BPS, only 2% load in basic. 

Old DA: 01-11-2017: 516 Slabs 

0.10 paisa per slab = 51.60% 

01-11-2020: 818 Slabs , 0.10 = 81.80% 

New DA: 01-11-2017: 516 - 478 = 38 Slabs 

0.07 paisa per slab  = 2.66% 

 01-11-2020: 818 - 478 = 340 Slabs , 0.07 = 23.80% 

SA (Spl Allowance): 16.40 % Award (from present 7.75%) + Transport Allowance with DA --> 

Effect: 18% Special Allowance

Special Allowance: 16.40% I to III (from present 7.75%) 

Special Allowance : 19% IV & V (from present 10%).

Special Allowance: 20% VI & VI (from present 11%) 

One additional stagnation increment for Substaff, Clerical, Officers (some scale) as it will lead to higher basic --> higher pension. 

One addl Saturday holiday (5th Sat) (To be approved by Govt) 

1.515 times of PQP, FPP, Spl Pay (with increased passing powers) 

HRA: 11% for all centres, all India 

CCA: Same % with higher CCA Max cap 

New Area Allowance for Non-CCA posting to encourage/compensate. 

New PL Encash: Calendar year: 5 or 7 (Age:55+) days 

Non-NPS: Bank PF: 10% of basic + Bank Pension: (10% of basic) = 20% of basic 

NPS: Bank 14% of Basic + DA 

Employee: (No change) 

PF: 10% & NPS 10% (Basic+DA) 

Medical Cert Basis (Award): 12000 from present 8000 

Substaff Basic: 14500 - 500/4 - 615/5 - 740/4 - 870/3 - 1000/3 - 28145 

Award Basic: (9 Stagnation increment, Uniform periodicity 2 yrs) 17900 - 1000/3 - 1230/3 - 1490/4 (1730/7 - 3270/1 - 1990/1 - 47920) 

Officer Basic: 36000 to 129000 
PLI (Performance Linked Incentive) Days: 0/5/10/15 

Family Pension Updation: 30% of Last Basic Salary 

Pension updation: like RBI before 30-12-2020 / 30-04-2021 


Why Pension Updation: After 15 yrs, at age:75, Top level staff pension will be less than present Substaff pension. Eg. DGM Basic pension in 1986: Rs.2500 (No revision for 35 yrs) GM pension (1992-1997): 7125, (1997-2002):10650 Substaff pension (2007-2012): 7075, (2012-2017): 11893 * Pension Fund: Needed till 2090 as XXX joined at Age:20 in Jan-2008 will retire at Age:60 in 2048... has to get pension till Age:100 in 2088.

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