Home11th Bipartite Settlement11th Bipartite Settlement - Dearness Allowance for Clerical and Subordinate Staff

11th Bipartite Settlement – Dearness Allowance for Clerical and Subordinate Staff

11th Bipartite Settlement – Dearness Allowance for Clerical and Subordinate Staff

The Indian Banks’ Association (IBA) on November 11 said it has signed a bipartite settlement with bank unions agreeing a 15 per cent increase in pay slip for bank employees.

Dearness Allowance

In 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.

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.

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Also Read11th Bipartite Settlement – Bank Employees New Pay Scale

(a) It is clarified that there shall be no ceiling on Dearness Allowance.
(b) Dearness Allowance shall be calculated and paid on the following components:

  • Basic Pay including Stagnation increments,
  • Special Pay,
  • Graduation Pay/ Professional Qualification Pay,
  • Special Allowance,
  • Transport Allowance and
  • Officiating Pay,

if any, payable under this settlement in respect of both clerical and subordinate staff.

(c) All other existing provisions relating to Dearness Allowance Scheme shall remain unchanged.

 

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