11th Bipartite Settlement Salary Structure
11th Bipartite Settlement | Expected Salary Calculator
READ ALSO: 11th Bipartite Settlement Expected Salary Chart for Clerks and Sub Staff w.e.f 01.11.2017
SALARY AND ALLOWANCES
The remuneration package of the Bank officers needs to be framed in such a manner that officers would feel that they are valued and fairly paid considering their workload and undertaking of enormous risks and responsibilities.
They should be treated at par with Government officials and PSU officers. As stated in the 7 Pay Commission Report the status of an officer in the society should also be taken into account while fixing the salary.
Remuneration of officers is an important element of proactive functioning in Banks in this era of competitive scrimmage and their commitment, dedication, and hard labour towards the progress of the economy of the country.
Also Read: Bank Wage Revision 22-07-2020
In general, the level and structure of salary/remuneration / compensation should aim to achieve four objectives as under:
(i) Salary Structure should be sufficient to attract and retain quality officers.
(ii) Salary Structure should motivate officers to work hard.
(iii) Remuneration should induce other human resource management reforms.
(iv) Salary should be set at a level to ensure relativity with a minimum salary in Banks and officers’ initial pay in line with the compression ratio, as shown below, of Central Government Group A officers’ initial pay and their minimum pay of Group D employees.
(v) Salary should take into account the Risk, Responsibility, Accountability and also the Transferability of Officers.
(vi) The Bank Officers have a status similar to the Govt Officials and to maintain that status the salary should be adequate, by offering additional cushion.
(vii) As promotions depend only on vacancies which depend on the presence and business of the individual bank’s nobody should be allowed to stagnate and running scale should be introduced.
(viii) The anguish, agony and the aspirations of lady officers should be taken into account
(ix) Superannuation benefits should help one to live a respectable life after retirement
(x) The hard work and contribution of the bankers for the development of the economy should be acknowledged through decent salary hike and allowances.
Table: 1
The compression ratio of minimum Basic Pay of Group D employees and Group A officers under different Pay Commissions of Central Government
A*=Central Pay Commission, B*=Minimum Basic Pay (Group D) Rs. , C*=Minimum Basic Pay of Officer Grade (Group A) Rs. D*=Compression Ratio
| A* | B* | C* | D* |
| III CPC (1973 to 1985) | 196 | 700 | 1: 3.57 |
| IV CPC (1986 to 1995) | 750 | 2200 | 1: 2.93 |
| V CPC (1996 to 2005) | 2550 | 8000 | 1: 3.13 |
| VI CPC(2006 to 2015) | 7000 (Band Pay 5200 + Grade Pay 1800) | 21000 (Band Pay 15600 + Grade Pay 5400) | 1: 3 |
| VII CPC(2016 onwards) | 18000 | 56100 | 1: 3.11 |
Table: 2
A*=Bi-partite Settlements, B*=Minimum Basic Pay (Sub-Staff) Rs. C*=Minimum Basic Pay of Officer Grade Rs., D*=Compression Ratio
| A* | B* | C* | D* |
| 2nd Bipartite (01.01.1970) | 116 | 500 (01.01.1970) | 1: 4.31 |
| 3rd Bipartite (01.09.1978) | 245 | 700 (01.10.1979) | 1: 2.85 |
| 4th Bipartite (01.07.1983) | 430 | 1175 (01.02.1984) | 1: 2.73 |
| 5th Bipartite (01.11.1987) | 815 | 2100 (01.11.1987) | 1: 2.57 |
| 6th Bipartite (01.11.1992) | 1600 | 4250 (01.11.1992) | 1: 2.65 |
| 7th Bipartite (01.11.1997) | 2570 | 7100 (01.11.1997) | 1: 2.76 |
| 8th Bipartite (01.11.2002) | 4060 | 10000 (01.11.2002) | 1: 2.46 |
| 9th Bipartite (01.11.2007) | 5500 | 14500 (01.11.2007) | 1: 2.63 |
| 9th Bipartite (01.05.2010) | 5850 | 14500 | 1: 2.47 |
| 10th Bipartite (01.11.2012) | 9560 | 23700 (01.11.2012) | 1: 2.47 |
The compression ratio of minimum Basic Pay of Sub-Staff and Officer Grade under different bipartite Settlements in Banks
- 10th Wage Agreement – IBA (Indian Banks’ Association) Circular May 25, 2015Read more…
- 15% Salary hike 15% for Bank Employees, 30 month Pay Arrears – New Wage Revision agreement to be signed on the 25th of this month May 24, 2015Read more…
- Financial Components of Wage Revision – ALL INDIA BANK OFFICERS’ ASSOCIATION (AIBOA) Circular May 22, 2015Read more…
- All India Bank Officers Association (AIBOA) Pay & Arrears Calculator for Bank Officers May 22, 2015Read more…
- Detailed Entry Level Salary for Clerk, Sub-staff, Officers-Bank Employees Pay Scale as on May 2015 May 21, 2015Read more…
- Bank Xth Bipartite : Scales finalized. RBI cleared holiday for 2nd & 4th Saturdays May 20, 2015Read more…
- Indian Banks’ Association issued orders for Dearness allowance for bank employees from May 2015. May 3, 2015Read more…
- IBA continues – Next meeting on 22.4.2015 – AIBEA Circular April 21, 2015Read more…
- 10th Bipartite Settlement – Medical Reimbursement Scheme, Hospitalisation Scheme with Health Insurance tie-up and Allowances April 18, 2015Read more…
- IBA – UFBU meeting on 16th April 2015 – AIBEA Report April 17, 2015Read more…
- 10th Bipartite Settlement – Sub committee meeting on bank bipartite on 16th April April 11, 2015Read more…
- Bank Holiday on 14.4.2015(Tuesday) throughout India on account of Birthday of Dr. B R Ambedkar: IBA Order April 3, 2015Read more…
- Bank Employees Wage Revision – Feedback of meeting with IBA on 17.3.2015 March 19, 2015Read more…
- Government wants to encourage Bank Boards to restructure their business strategy… March 2, 2015Read more…
- AIBOA published discussion and decision taken in the meeting with IBA on 23.2.2015 February 26, 2015Read more…
- Increase of salary for bank employees February 25, 2015Read more…
- Bank Employees Wage Revision – 10th Bipartite Wage Settlement February 24, 2015Read more…
- UFBU decides to revive the strike programmes – 4 days strike from 25th to 28th Feb 2015 February 6, 2015Read more…
- Bank Employees Wage Revision – UFBU not satisfied with IBA’s offer, to go on strike February 4, 2015Read more…
- IBA Issued circular – DA for Bank Employees February 3, 2015Read more…