Friday, August 18, 2017

Comparison of salary between Bank P.O. and Income Tax Inspector

Negotiation on 11th Bank Bipartite is currently on the initial stage. A number of sub committees are being formed and it will certainly take some time to mature the wage deal. 
Before implementation of sixth pay commission for central employees, bank officers and employees were certainly in better position in terms of wages compared to central counterparts. But sixth pay commission came as a game changer and took the central employees in a higher paid category. The earlier bipartite for bank employees (10th Bipartite) could not bridge the gap completely. Now Central Govt. introduced seventh pay commission and implemented it in a phased manner. With effect from 1st July 2017, all hiked allowances were also released and though the increase is not fair enough comparing to the sixth pay commission, it can be said that employees are being paid quite handsomely now.
Let's have a quick look on the starting salary of a Bank PO and Income Tax Inspector.
Bank PO. as on 1st Nov 2016
Basic Pay 23700
DA           12206.69
Spl All.     1836.75
CCA           870
HRA         2133
TOTAL    40,746.54  (In A Class Cities)
(SBI POs are paid four increments extra at the initial stage and thus their Gross Salary will be about Rs 6000 higher)
(Bank PO salary has been taken from allbankingsolution.com)
Income Tax Inspector as on 01.07.2017
Basic Pay                    44,900
DA                                 1796
HRA                            10776
Tr All                             3744
Conveyance All             2100
(Cost of 30 Lt Petrol)
TOTAL                         63,316     (In Major Cities)   
(In addition, Central employees are entitled to Children Education Allowance/Hostel Subsidy @ Rs 2250/6750 per child per month (Max 2)

Children Education Allowance, Hostel subsidy hiked for Central staff

Consequent upon the decision taken by the Government on the recommendations made by the Seventh Central Pay Commission on the subject of Children Education Allowance Scheme, the following instructions are being issued in supersession of this Department’s OM dated 28-4-2014 : –
(a) The amount fixed for reimbursement of Children Education allowance will be Rs.2250/-pm.
(b) The amount fixed for reimbursement of Hostel Subsidy will be Rs. 6750/-pm.
(c) In case both the spouses are Government servants, only one of them can avail reimbursement under Children Education Allowance.
(d) The above limits would be automatically raised by 25% every time the Dearness Allowance on the revised pay structure goes up by 50%. The allowance will be double for differently abled children.
Reimbursement made simple :
" Further, reimbursement will be done just once a year, after completion of the financial year. For reimbursement of CEA, a certificate from the head of institution, where the ward of government employee studies, will be sufficient for this purpose. The certificate should confirm that the child studied in the school during the previous academic year. For Hostel Subsidy, a similar certificate from the head of institution will suffice, with the additional requirement that the certificate should mention the amount of expenditure incurred by the government servant towards lodging and boarding in the residential complex. The amount of expenditure mentioned, or the ceiling as mentioned above, whichever is lower, shall be paid to the employee."

Wednesday, August 16, 2017

Himachal Pradesh announces 4 per cent DA to employees and pensioners

 Himachal Pradesh Chief Minister Virbhadra Singh on Tuesday announced additional Dearness Allowance (DA) to state government employees and pensioners from January 2017 to be paid in October besides announcing a Government Degree College at Jeuri.
Counting the achievements of the state government, he said the state government declared unemployment allowance of Rs 1,000 per month to educated unemployed youth. The youth with disability were being given unemployment allowance of Rs 1,500 per month.
Singh said emoluments of contract employees had been enhanced from 50 to 75 per cent of grade pay and wages of daily wagers had been increased from Rs 150 to Rs 210. He said the government had announced regularisation of contract employees after three years of service besides many other benefits to employees and pensioners.

Tuesday, August 1, 2017

BANK DA GOES UP WITH 22 SLABS FOR AUG TO OCT 17

Update : IBA issued Circular
Click here for D.A. for Officers and staff
Click here for D.R. for Pensioners
Click here for D.A. for pre 1.1.86 retirees
Labour Bureau,Ministry of Labour and Employment,Govt of India,has released , the All India Consumer Price Index Numbers (AICPIN)for Industrial workers(IW) Base 2001=100 for the month of June’17,to day which stood at 280 points with an increase of 2 points while compared to May’17 figure.
                   Thus, the confirmed All India average CPIN(IW) for the  last quarter are as follows:
                 Base 2001=100                    1960=100
April’17        277                                        6322.77                                                           
May’17        278                                         6345.60  
June           280                                         6391.25  
Average  :6353     SLABS 478. Increase 22Slabs (old 456)
                                                                                           

                   As such,   Bank workmen / Officers  may have 22 slabs increase in DA payable for next quarter – August’17 to Oct’17.
ie:  47.80% from 45.60% of last quarter.

​Provided by Mohan.P

Consumer Price Index for Industrial Workers (CPI-IW) — June, 2017

The All-India CPI-IW for June, 2017 increased by 2 points and pegged at 280 (two hundred and eighty). 

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