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.
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:
16.40 % of the Basic pay with applicable DA thereon.
Note: The Special Allowance with applicable DA thereon shall not be reckoned for superannuation benefits viz., pension including contribution to NPS, PF & Gratuity.
Also Read :
- 11th Bipartite Settlement – Bank Employees New Pay Scale
- 11th Bipartite Settlement – Dearness Allowance for Clerical and Subordinate Staff
- 11th Bipartite Settlement – HRA for Subordinate and Clerical Staff
