IBA has released Minutes of discussions held on 23rd February 2015 between IBA and Workmen Unions & Officers Associations on Wage Revision.
Latest: Salaries of Bank Employees 10th BPS Feb 2015 Latest in Excel Sheet Download Page
Everyone is aware of those points mentioned in that settlement. Read below if you are unaware of those points.
Everyone is talking about Point No. 3 & 5.
First i want to talk about Point No. 5: Every second and fourth Saturday of the month will be a holiday and other Saturdays will be full working days.
There are 52 weeks in a year. You have to work Full day for 28 days & 24 Holidays are offered.
52 Saturdays: 4*52 = 208 hours
28 Full days: 6.5*28 = 182 hours.
24 Holidays: 4*24 = 96 hours
Earlier, you work for 208 hours. Now you work for 182 hours. 26 hours Less than earlier work. But we have to bear in mind that, some officers work even in the afternoon due to workload or forcefully by the management. So they get relieved by those tensions.
There are 20% of the bank employees, who are working far from their families. Now they can spend some quality time with their family. Also the people who are working by staying in headquarters on that holiday which we cant do on Sundays. Earlier it was problematic for us.
Please don't think that i am satisfied with this settlement. I am very much disappointed with this so called historic settlement by the union leaders.
Second, Point No.3: 3. The new scales will be constructed after merging dearness allowance corresponding 4440 points as on November 2011, which works out to 60.15% and adding a load factor of 2% on Basic pay plus Dearness Allowance as on 31st March 2012 amounting to around Rs. 597 crores.
I have explained this in detail below. Please understand that, if your present basic is 16300, your new basic will be either 27090, which will rounded off to 27100.
Calculation:
= (16300 * 1.6015)*(1.02) + (16300 * 0.0285)
= 26626 + 464
= 27090
Here,
1.6015 is 4440 points as on November 2011, which works out to 60.15%.
1.02 is adding a load factor of 2% on Basic pay
0.0285 is Dearness Allowance as on 31st March 2012 which is 2.85 after merging 60.15 in basic.
Did i miss anything from the point. If i am wrong, correct me. You can comment below. I am ready to answer and correct myself if i am wrong.
Simple Formula To Calculate your New Basic: Basic * 1.66196
Basic is the most important factor in the wage revision. Everything is linked to Basic pay. What you have achieved by this 2% load on basic. Did we have to go on strikes for this crap.
Iam from Andhra Pradesh. You all know it was divided recently. There no funds to run the govt but the state govt employees got their basics doubled (Just before 1 month it was happened) with just 77.896% before the settlement. We are having 110% DA but we cant get it doubled. What a shame!!!..
Don't believe if any one say that 15% total will be added to basic. They will increase other remaining load in other payslip components which comprises of Basic Pay, Special Pay, FPP, PQP, Dearness Allowance, HRA, CCA, Hill Allowance, Project Area Allowance, Transport Allowance (for award staff) and Medical Aid (fixed amount payable each year).
If 15% is added to basic, i am also happy for that as a banker. But it was finalised as of now. This is the most important part of the whole episode. They have placed point no.5 in this settlement just to deviate our focus from this main issue. No. 5 is nothing but a gymmic like magicians do as part of their profession. Please forget about it.
Yesterday i.e., 23rd February 2015 is a Bankers Fools Day. Celebrate it if you are a fool. I am ready to correct & say sorry if i am a fool dear leaders. Share your views dear friends.
Latest: Salaries of Bank Employees 10th BPS Feb 2015 Latest in Excel Sheet Download Page
Everyone is aware of those points mentioned in that settlement. Read below if you are unaware of those points.
Everyone is talking about Point No. 3 & 5.
First i want to talk about Point No. 5: Every second and fourth Saturday of the month will be a holiday and other Saturdays will be full working days.
There are 52 weeks in a year. You have to work Full day for 28 days & 24 Holidays are offered.
52 Saturdays: 4*52 = 208 hours
28 Full days: 6.5*28 = 182 hours.
24 Holidays: 4*24 = 96 hours
Earlier, you work for 208 hours. Now you work for 182 hours. 26 hours Less than earlier work. But we have to bear in mind that, some officers work even in the afternoon due to workload or forcefully by the management. So they get relieved by those tensions.
There are 20% of the bank employees, who are working far from their families. Now they can spend some quality time with their family. Also the people who are working by staying in headquarters on that holiday which we cant do on Sundays. Earlier it was problematic for us.
Please don't think that i am satisfied with this settlement. I am very much disappointed with this so called historic settlement by the union leaders.
Second, Point No.3: 3. The new scales will be constructed after merging dearness allowance corresponding 4440 points as on November 2011, which works out to 60.15% and adding a load factor of 2% on Basic pay plus Dearness Allowance as on 31st March 2012 amounting to around Rs. 597 crores.
I have explained this in detail below. Please understand that, if your present basic is 16300, your new basic will be either 27090, which will rounded off to 27100.
Calculation:
= (16300 * 1.6015)*(1.02) + (16300 * 0.0285)
= 26626 + 464
= 27090
Here,
1.6015 is 4440 points as on November 2011, which works out to 60.15%.
1.02 is adding a load factor of 2% on Basic pay
0.0285 is Dearness Allowance as on 31st March 2012 which is 2.85 after merging 60.15 in basic.
Did i miss anything from the point. If i am wrong, correct me. You can comment below. I am ready to answer and correct myself if i am wrong.
Simple Formula To Calculate your New Basic: Basic * 1.66196
Basic is the most important factor in the wage revision. Everything is linked to Basic pay. What you have achieved by this 2% load on basic. Did we have to go on strikes for this crap.
Iam from Andhra Pradesh. You all know it was divided recently. There no funds to run the govt but the state govt employees got their basics doubled (Just before 1 month it was happened) with just 77.896% before the settlement. We are having 110% DA but we cant get it doubled. What a shame!!!..
Don't believe if any one say that 15% total will be added to basic. They will increase other remaining load in other payslip components which comprises of Basic Pay, Special Pay, FPP, PQP, Dearness Allowance, HRA, CCA, Hill Allowance, Project Area Allowance, Transport Allowance (for award staff) and Medical Aid (fixed amount payable each year).
If 15% is added to basic, i am also happy for that as a banker. But it was finalised as of now. This is the most important part of the whole episode. They have placed point no.5 in this settlement just to deviate our focus from this main issue. No. 5 is nothing but a gymmic like magicians do as part of their profession. Please forget about it.
Yesterday i.e., 23rd February 2015 is a Bankers Fools Day. Celebrate it if you are a fool. I am ready to correct & say sorry if i am a fool dear leaders. Share your views dear friends.
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