Clerical Pay Scales enhanced to Rs. Not directly but that become the basis for wage settlement in RBI. Arrears will be from the implementation of updation I.e.march 2019. AICPIN August 2020 - Expected DA Jan 2021 - 2nd Stage Completed! Calculate 11th Bipartite Salary Hike for Clerks (Projected) – Outcome of recent meeting between IBA and Banks’ Union shows that IBA is not at all agreed on any further hike in existing offer of 10%. (adsbygoogle = window.adsbygoogle || []).push({}); Complete Details of New Pay Scale, Stagnation Increment, Dearness Allowance, House Rent Allowance, Transport Allowance and Special Allowance. (b) Dearness Allowance shall be calculated and paid on the following components: (c) All other existing provisions relating to Dearness Allowance Scheme shall remain unchanged. Discussions were held between the Indian Banks’ Association representing Managements of banks and the authorized representatives of Workmen Unions and Officers’ Associations on wage revision for officers and workmen in banks. Clerk Salary After 11th Bipartite Settlement. The parties will meet on mutually convenient dates to draw out a detailed Bipartite Settlement/Joint Note on the various issues on which consensus positions have been reached. Increase under this Wage Revision will be Rs.7898 crores per year i.e. After the 11th Bipartite Wage Settlement 2020 settlement of 15% hike in Public Sector Banks, Now the salary of a bank sub staff will Rs 21793.50 and of a clerk will be Rs 26820.14 will be Cash In Hand. In today's Banking scenario, there is stiff competition amongst the different categories of banks i.e., Public sector, Private sector, Foreign banks. (vii) Provided that in the case of an employee acquiring such qualifications after reaching the maximum of the scale of pay, he shall be granted from the date of acquiring such qualification the first installment of Graduation Pay or PQP, as the case may be and the release of subsequent installments ofGraduation Pay or PQP shall be with reference to the date of release of Graduation Pay or PQP under this clause. Once the 11th Bipartite Settlement is levied, employees can expect an increment of 20% to 30% in the salary for IBPS Clerk post. The 11th Bipartite Wage revision/Joint Note for Officers will be effective from 01-11-2017. The contents are strictly copyrighted to the Admin and may not be reproduced without permission. 11th BPS Settlement Fitment Factor. Provided further that in case where the non-subordinate employee as on the date of this Settlement, has already acquired JAIIB (Part-I) or CAIIB (Part-II)/ Graduation after reaching maximum of the scale of Pay (in case of JAIIB/ CAIIB/ Graduation) or after reaching 19th stage of scale of Pay (in case of CAIIB/Graduation), and has not earned increment(s), otherwise  entitled on account of acquiring such qualification, when there were no increments to provide in the scale of pay of those employees, the stagnation increment in such cases may be advanced by one year or two years as the case may be. Wage revision in public sector banks takes place every five years. setting up the stage for 11th wage revision talks, now IBA & Employee union associations must start the formal process. 0 Comments. Dearness AllowanceIn substitution of Clause 7 of Bipartite Settlement dated 25th May 2015 with effect from 1st November 2017, the Dearness Allowance shall be payable as per the following rates: –, Clerical and Subordinate Staff 0.07 % of ‘pay’ per slab of four points. 20,570 Starting salary of a Subst aff in Metro centre is Rs. Get the arrears calculators for 11th BPS Wage Revision and salary hike. In partial modification of Clause 5 of Bipartite Settlement dated 25th May 2015, both clerical and subordinate staff (including permanent part-time employees on scale wages) shall be eligible for nine stagnation increments w.e.f. The PLI matrix decides the amount payable to the employees (in the number of days of pay­ Basic+DA) depending on the annual performance of the bank. 14% of Pay & Dearness Allowance instead of the present rate of 10% from the prospective date of signing the settlement subject to the approval of the Govt. Note:a) Fitment in the new scales of pay shall be on a stage-to-stage basis. The 11th bipartite settlement is due from November 1, 2017. 15,150 11th Bipartite Settlement: IBA and Bank Unions agreed for Bank Salary Revision under 11th Bipartite Agreement. Both sides agreed to the introduction of PLI in PSBs, which will be based on the operating profit/net profit of the individual bank. I explained everything regarding Bank clerk salary structure. The date of effect is 01.11.2017 and merger point at consumer price index 6352 has already been decided. The following points appear to have been decided so far! if, Govt approves, pensioners will be benefited in updation of pension. 7th PAY COMMISSION, 7th CPC NEWS, 7th CENTRAL PAY COMMISSION, 7th PAY SCALE, 7th PROJECTED PAY SCALE, 7th EXPECTED PAY SCALE, EXPECTED DA, DOPT ORDERS. 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IBPS Clerk Salary After Revision. 1.11.2017 in terms of this settlement as per the revised periodicity which will qualify for superannuation benefits. (6352 - 4440 = 1912 ÷ 4 = 478 slabs) i.e 47.8% d.a as the rate is .10 paise per slab. 9) It has been agreed to increase the banks contribution to the NPS fund to 14%, i.e. d) All employees belonging to sub-ordinate cadre shall be eligible for one extra increment for passing JAIIB and two increments for passing CAIIB examination w.e.f 1.11.2017. The Basic Pay Scale of IBPS Clerk is Rs 11,765 – Rs 42,020. It means that 478 slabs will be merged in basic. Special Allowance: In modification of Clause 9 of the Bi-partite Settlement dated 25.05.2015, with effect from 1.11.2017, workmen employees shall be paid Special Allowance as under: Note: The Special Allowance with applicable DA thereon shall not be reckoned for superannuation benefits viz., pension including contribution to NPS, PF & Gratuity. 42,020. 1.11.2017 in terms of this settlement as per the revised periodicity which will qualify for superannuation benefits is not taken into account for calculation of tentative amount of arrears etc. All bank employee is waiting for SBI clerk salary increment. 11th Bipartite Settlement for Bank employees is due on 01st Nov 2017 but the demand of wage revision as per central government employees are already started among banker’s. Banker’s believe that their salary are not competitive as per the market scenario. The 11th bipartite settlement was officially agreed by the banks association on July 22, 2020. 5) Total increase in Pay @49.80 % agreed! Here Rs 11,765 is the Basic pay. (6352-4440 = 1912 ÷ 4 = 478 slabs) i.e 47.8% d.a as the rate is .10 paise per slab. Bank employees salary calculator for 11th Bipartite Wage settlement. (3) All other existing provisions relating to House Rent Allowance shall remain unchanged. Bank employees recruited through IBPS, SBI & others will get 15% hike in salaries. The protracted 11th bipartite wage settlement negotiations between bank unions and the Indian Banks’ Association (IBA) concluded on Wednesday, with both sides agreeing to an annual wage increase and allowances of 15 percent of the wage bill as on March 31, 2017. 1st November 2017 at the rate and frequency as stated herein under: The clerical and subordinate staff including permanent part-time employees on scale wages on reaching the maximum in their respective scales of pay, shall draw nine stagnation increments at the rate of Rs. 15% on the wage bill of PSBs (payslip component cost) as on 31.03.2017. E-Mail Subscription: Get Our Updates through EMail: Don't Forget to Activate Link Send to Your Mail . Stagnation Increments . 11th Bipartite Wage settlement latest news.Updates about bankers wage revision and expected salary calculator.Public Sector Bank employees salary revision and bipartite settlement updates. 1990/- and Rs.1000/- respectively (pro rata in respect of permanent part-time employees) each due under this settlement, and at frequencies of 2 years, from the dates of reaching the maximum of their scales as aforesaid. New Bank officer Salary After 11th Bipartite Wage Settlement 2020. 4) 2.50% Load Factor on Basic pay agreed! Officers: Award staff: Tags: Bipartite Settlement News PSU Bankers Salary. It has been agreed to increase the banks contribution to the NPS fund to 14%, i.e. The current basic salary of SBI Clerk is Rs. The PLI is payable to all employees annually over and above the normal salary payable. 6) Balance 13% will be distributed in various Allowances agreed! Clerk - Salary Structure or Pay Scales and Gross Salary of Newly recruited or appointment of clerk in Banks, in terms of salary settlement (11th Bipartite Settlement) dated 11.11.2020. In the recent meeting, IBA has also presented the Performance linked salary structure for bank employees and given a draft presentation to Banks’ Union in this regard. Special Pay: In modification of Clause 11 of the Bipartite Settlement dated 25th May 2015, with effect from 1st November 2017: (i) The Special Pay payable to the clerical staff and subordinate staff in banks other than State Bank of India, shall be as mentioned under Part-A inSchedule II to this Settlement. Approx 20% – 30% growth will be expected in basic salary. if, Govt approves, pensioners will be benefited in updation of pension. 11th Bipartite Settlement Expected Salary Chart: The annual wage increase in salary and allowances is agreed at 15% of the wage bill as on 31-3-2017 which works out to Rs.7,898 crores on Payslip components.. If 10% load is approved over 47.8% d.a it comes to 162.58%. 23,785. Starting salary of a Graduate Clerk in Metro centre is Rs. In r.b.i. Post a comment. Why Pension Updation: After 15 yrs, at age:75, Top level staff pension will be less than present Substaff pension. Stagnation Increment for Bank employees after 11th Bipartite Settlement. From the calendar year 2020, besides encashment of PL at the time of retirement and during availment of LFC, PL Encashment would be permitted at 5 days every calendar year (7 days in case of employees/officers of 55 years of age and above) at the time of any festival of their choice. (iii) With effect from 1st November 2017, Graduation Pay and Professional Qualification Pay payable to the clerical staff in banks shall be as mentioned in Part B of Schedule II to this Settlement. 11th bipartite settlement charter of demands. Note:(1) ‘Pay’ means as defined in Clause 6 of the Settlement hereinabove(2) Where quarters are provided, HRA shall not be payable and the rent to be recovered shall be 0.2 % of the first stage of the Scales of Pay. In r.b.i. (100 + 47.8 = 147.8 × 10% = 162.58) i.e 163. It is difficult to predict any exact sum regarding the increase in salary of bank employees after 11th bipartite Settlement. 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Expected Salary Calculator : The date of effect is 01.11.2017 and merger point at consumer price index 6352 have already been decided. Social Plugin Recent Posts Popular Posts No. However, monetary benefit on account of such revised and readjusted stagnation increment/s shall be payable from 1st November, 2020 or the actual date of entitlement whichever is later. 11th bipartite settlement expected pay scales. Provided further that the Stagnation increment/s received by the employees who are/were in service of the banks as on 1st November, 2017 as per periodicity hereinbefore would be readjusted from the date of reaching their maximum by also considering the Graduation/JAIIB/CAIIB Qualifications acquired thereafter, if any and employee shall be notionally eligible for stagnation increments w.e.f. I have taken 10% load for updation because in last updation 10% load was given to all pensioners irrespective of their date of retirement. Shifting to Payslip basis is a new and positive feature. New Bank Clerk Salary After 11th Bipartite Wage Settlement 2020 Click here for part 2 . Transport Allowance for Bank employees after 11th Bipartite Settlement. IBPS Clerk Salary After 11th Bipartite Settlement: Banks have placed a demand to increase the revised basic pay of Clerks to Rs. House Rent AllowanceIn substitution of Clause 9 of the Bipartite Settlement dated 25th May 2015 with effect from 1st November 2017, the House Rent Allowance payable to subordinate and clerical staff shall be as under:-. Here we stated some expected outcomes. Watch out for rest soon ! They want their salary as competitive like their peers in private sector banks. READ ALSO: 11th Bipartite Settlement Expected Salary Chart for Clerks and Sub Staff w.e.f 01.11.2017. (ii) This provision by itself will not preclude the payment of any existing allowance of this nature paid as a result of Government guidelines/bank level settlements. 11th bipartite settlement for bank employees. 9560 - Rs. As per the latest status update, public sector bank employees salary will increase by 15%.It has also been decided to introduce performance linked incentive (PLI) in govt owned banks to … What will be Salary of SBI Clerk After Revision? New basic pay is calculated by adding Old basic pay with DA (47.8%) and 2.5% load factor (2.5% of sum of basic pay and DA on march 2017) NEW BASIC PAY OF BANK CLERK AFTER 11TH BIPARTITE SETTLEMENT 10th BPS clerk starting basic = 13075 (two increment are attched for graduation) New basic pay = 13075 + DA merger + 2.5% load factor Also Read – Simplified – Excel Based Calculator Also Read – Calculate Hiked Salary For … Hello friends, if u like my video then pls subscribe to my channel thanku. Though it might not look huge in numbers, the perks, benefits and the promise of a revision of pay, makes it a lucrative offer to the ones joining the bank. Facebook; Twitter; Google+; Newer. After the 11th Bipartite Wage Settlement of 2015, a bank clerk is entitled to get a salary of Rs 21,990 within hand salary of Rs 19,461. In all other aspects, the general rules and provisions contained in Chapter Vof the Bipartite Settlement dated 19th October 1966 relating to special pay carrying posts, as modified from time-to-time, shall continue to apply. Eg. Fitment shall be stage-to-stage, i.e. Note:Dearness Allowance in the above manner shall be paid for every rise or fall of 4 points over 6352 points in the quarterly average of the All India Average Working-Class Consumer Price Index (General) Base 1960=100. Settlement was officially agreed by the banks contribution to the NPS fund to 14,... ) There shall be on a stage-to-stage basis after the 10 th Settlement! 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