In my previous two posts I just merely gave new basic pay and also arrears chart. I have not explained how I have arrived at. The following are my assumptions for arriving at them. For all my assumptions, I take the starting basic pay of officer i.e 14500/-
Present Gross Salary of PO : Basic 14500 + DA 15921 Total Gross 30421
- With regard to Basic, it is clearly mentioned in the minutes signed by IBA and UFBU. Basic + 60.15% DA and a load of 2%. Now our Basic is fixed i.e 14500/- will become Rs. 23686/- it will be rounded off, to 24000/-. Majority of experts are of this opinion there is no dispute. You can once again check the New basic pay by clicking here
- Now the question of DA, I would like to clarify that 70% of officers have only two components in their pay slip. One is Basic and the another one is DA. So for avoiding confusion I am dealing with these two only. Now partly DA is also finalized. After merging of 60.15% of DA, only 331 slabs are remaining. At present, we are being paid 0.15% for each slab.
- Now with a new basic of 23686/- and 331 slabs are remaining and we have to get a hike of 15% over existing gross salary of 30421. New gross salary should be around 34980/- for a PO.
- The following are the options available
|DA 331 slabs at 0.12
|DA 331 slabs at 0.13
|DA 331 slabs at 0.14
|DA 331 slabs at 0.15
|New Gross Salary||33094||33878||34662||35446|
|Old Gross Salary||30421||30421||30421||30421|
Now the important point if IBA wants to give us a hike of 15% there is no other option but to continue the existing DA slab at 0.15%.
- But this time they may introduce new pay slip component ( For officers ). If new allowance is introduced it will be beneficial for the young. ( Allowance may be Grade Pay, Risk Allowance, Post Pay, etc ) this was mentioned in my post dt 23.02.2015. “ 10th Bipartite New Pay Scales”.
- I feel that instead of continuing 0.15% slab of DA there is fair chance for introducing new allowance. If new allowances are introduced there is a chance that DA slab will come down to 0.10%. (New allowance will equal for all employees of same cadre. My Guess is that it will be Rs.3000/- with DA for Scale 1 )
- Seniors have lost heavily in this settlement. Post-retirement benefits are mostly dependent on the Basic Pay. By allowing only 2% load, banks have reduced their future superannuation burden.
Hope I have clarified majority of doubts of my Junior colleagues. Please feel free to express your thoughts.