Thursday, October 25, 2018

Bihar increases D.A. by 2 percent

There is good news for Bihar government employees, pensioners and family pensioners, as the state Cabinet on Tuesday increased the dearness allowance(DA) by two percent. DA would be given to the employees with effect from July 1 this year. Bihar cabinet secretariat department Principal Secretary Sanjay Kumar said these employees will now get DA of 9 per cent in place of the existing 7 percent. 

Government employees, pensioners and family pensioners who are getting revised pay scales would be eligible for this hike, Kumar said. The government will have to bear an additional burden of Rs 419 crore annually for this hike. 

Friday, October 12, 2018

Summary of Bank Bipartite meeting on 12th October 2018

No such breakthrough as expected did happen in the meeting between Bank Unions and IBA.
In today's discussion, Union reiterated that offer of 6% increase should be substantially improved.
Performance linked pay should be delinked from age revision.
IBA repeated their proposal that wage increase should linked to paying capacity.
Unions rejected IBA's proposal and informed that if IBA does not change their stand, it will lead to confrontation and agitation.

Thursday, October 11, 2018

Tripura pay hike notified w.e.f. 01.10.2018

The Government has approved to implement the following recommendations made by the Expert Committee for the employees, workers & pensioners of the State Government, Subordinate judiciary, Tripura Legislative Assembly Secretariat, Tripura public Service Commission, Grants-in-aid Schools, Tripura Board of Secondary Education and other Constitutional Bodies:
 Date of effect of the revision of Pay /wages/ Pensions shall be from 01.10.2018
Minimum Pay at the Entry Level of the pay matrix shall be Rs 18,000 per month for Group-C employees and Rs. 16,000 per month for Group-D employees of the State Government.
Annual increment shall be @ 3% per annum.
There shall be no change in the existing rates of allowances.
Click here for the notification
Click here for the Expert Committee Report

Bank Bipartite : Next meeting on 12th October to finalize wage revision

Meeting scheduled on 12th October 2018 may finalize the 11th Bipartite Wage Revision for Bankers. Recent developments and speed up in the process of salary negotiation by Indian Bankers' Association (IBA) is showing up the seriousness about bipartite settlement.

GPF interest rate hiked to 8% from 1st October to 31st December 2018

As expected, Govt. announced hike in GPF and similar funds interest rate to 8% for the quarter from October 2018 to December 2018.
Click here for the Resolution

Wednesday, October 10, 2018

Cabinet approves Productivity Linked Bonus for Railway Employees

Productivity Linked Bonus (PLB) equivalent to 78 days’ wages for the financial year 2017-18 for all eligible non-gazetted Railway employees About 11.91 lakh non-gazetted Railway employees are likely to benefit from the decision Payment of 78 days’ PLB to railway employees has been estimated to be Rs. 2044.31 crore 
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the payment of Productivity Linked Bonus (PLB) equivalent to 78 days’ wages for the financial year 2017-18 for all eligible non-gazetted Railway employees (excluding RPF/RPSF personnel). The financial implication of payment of 78 days’ PLB to railway employees has been estimated to be Rs.2044.31 crore.  The wage calculation ceiling prescribed for payment of PLB to the eligible non-gazetted railway employees is Rs.7000/- p.m.  The maximum amount payable per eligible railway employee is  Rs.17,951 for 78 days. About 11.91 lakh non-gazetted Railway employees are likely to benefit from the decision.

Tripura revises pay structure, two lakh employees to get benefit

The Tripura government on Tuesday revised the pay structure of its two lakh employees with effect from October 1 this year and claimed that it is on a par with the 7th Central Pay Commission.
Click here for the Notification
The revised pay scale was prepared based on recommendations made by a committee headed by former Assam Chief Secretary P P Varma, Chief Minister Biplab Kumar Deb told a press conference. The recommendations were submitted to the government on Friday and accepted in a special cabinet meeting on Tuesday, Deb said. The BJP had had pledged for implementation of the 7th Pay Commission for the employee before the assembly election.
"The (previous) left Front government left a burden of Rs 11,000 crore. Despite that, we could fulfil the demands of the employees. We implemented our promises in a tough situation," He said, He said 9 per cent DA is still pending for the employees, but that chapter is yet to be closed. As per the revised scale, minimum pay at the entry level of the pay matrix would be Rs 18,000 per month for Group-C employees, and Rs 16,000 for Group-D employees.
Fixed pay employees would get benefits at par with regular employees under the revised salary structure, Deputy Chief Minister Jishnu Devvarma, who also holds the finance portfolio, said. Pensioners would enjoy a minimum pension of Rs 8,000 per month and a maximum of Rs 1,07,450 per month. 

Tuesday, October 9, 2018

Adhoc Bonus declared for Central Employees

Central Govt. declared adhoc bonus of 30 days for all Group C and non gazetted Group B employees for the accounting year 2017-18.
Non productivity linked adhoc bonus will be given as 30 days emoluments which is calculated as Rs 6908/-
Click here for the Order

Monday, October 1, 2018

Bank Bipartite : Outcome of 29th Sep meeting

The bipartite meeting on 29th September 2018 could not provide much breakthrough. 
IBA team made it clear to Unions that Banks are not in a capacity to pay more than 6% hike in wages. IBA did not go beyond 6% offer they made during last Negotiating Committee Meeting.

Shri. Prashant Kumar, DMD of SBI gave power point presentation on a New formula devised by IBA.

Accordingly, all member banks are to be categorised in three (3) categories, i.e., A,B,C.
Categorisation will be based on certain parameters as revealed by individual bank’s Balance-sheets.

IBA says they ‘Desire Shift’ in pay outs by Banks. The intent of IBA is to allow each Bank to pay its employees as per the Bank’s capacity to pay. For building the capacity to bear the load of payment to staff, the individual Banks will have to perform to a certain level.

Proposed Approach Intended is :
Adding an element of performance linked compensation over and above the settled pay structure.

It will be calculated as under:
A. A performance Linked Compensation will be incorporated:
i. The value will be over and above the increment as agreed in the Bipartite Settlement.
ii. Will be computed annually after declaration of annual financial results.

B. Payable amount shall be CONTINGENT upon achievement of established performance criteria by the Banks every year.

C. Key metrics chosen for defining organisational performance on following parameters.
• Operating Profit
• Return on Assets

D. Payout rate to be related to performance based Tiering, on chosen metrics.

For the FY 2017-18 the categorisation comes as under:
Operating Profit wise
A. Indian Bank, Vijaya Bank

Return of Assets
A. Indian Bank, VijayaBank
C. Bank of Maharashtra, Bank of Baroda, Canara Bank

This new shocking proposal of IBA is not acceptable by any PSU banker.

As per the indications by merging DA as on 01.11.2016 the present basics will be constructed and then loading will be applied.
The unions primarily rejected the offer of disparity in pay structure. They are in a process of studying the new formula and represent in the next round of negotiation.

All the information published in this webpage is submitted by users or free to download on the internet. I make no representations as to accuracy, completeness, currentness, suitability, or validity of any information on this page and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis. All the other pages you visit through the hyper links may have different privacy policies. If anybody feels that his/her data has been illegally put in this webpage, or if you are the rightful owner of any material and want it removed please email me at "" and I will remove it immediately on demand. All the other standard disclaimers also apply.

Blog Archive