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CHO/POS/2010-11/06
Date: 21-05-2010
To All Branches / Offices in Indian Union.
Sub: Joint Note dated 27-04-2010– Revision of salary and other service conditions of Officer Employees.
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The Indian Banks’ Association (IBA) has signed a Joint Note on 27-04-2010 with the representatives of All India Bank Officers’ Confederation (AIBOC), All India Bank Officers’ Association (AIBOA), Indian National Bank Officers’ Congress (INBOC) and National Organisation of Bank Officers (NOBO) in the matter of salary revision package for officer employees in Public Sector Banks. A copy of the said Joint Note dated 27-04-2010 is placed in the Annexure marked- I.
2. To give effect to the salary revision for officers, as aforesaid, UCO Bank Officers’ Service Regulations (OSR), 1979 have to be amended. Formal amendment to the OSR will take time.
In this connection, ‘No Objection’ from the Govt. is required before the Bank can disburse an ad-hoc amount equivalent to the net arrears payable to officer employees as also to pay revised salary and allowances on an ad-hoc basis. ‘NO Objection’ in this regard from the Govt. is expected to be received shortly through IBA.
3. The Board of Directors has approved disbursement of an ad-hoc amount equivalent to the net arrears payable to officer employees as also to pay revised salary and allowances on an ad-hoc basis to the eligible officers subject to receipt of ‘No Objection’ from the Govt. of India through IBA.
4. The various provisions of the Joint Note shall take effect from the dates specified hereunder, unless provided to the contrary:
.2.
S.No / Particulars / Effective from1 / Scales of Pay and Dearness Allowance / 01-11-2007
2 / HRA, CCA, Provident Fund, Recovery of house/ furniture rent, FPP, PQP, Hill and Fuel Allowance, Special area allowance, Split duty allowance, Project area allowance. / 01-11-2007
3 / Hospitalization expenses / 01-05-2010
4 / Deputation Allowance, Halting Allowance / 01-05-2010
5 / Medical Aid (for the year2007, the reimbursement under medical aid scheme shall be enhanced proportionately for two months i.e. November & December, 2007) / 01-11-2007
6 / Mid Academic Yr Transfer Allowance / 01-05-2010
7 / Compensation on Transfer / 01-05-2010
8 / For payment of arrears, the benefits under various provisions unless otherwise specified against the relevant provisions / Date of signing the Joint Note
5. Some important modifications in terms and conditions :
a) The officers in scale I who have moved to pay-scale of scale II, officers in scale II who have moved to pay-scale of scale III and officers in substantive scale III will be eligible for two more stagnation increments for every three years of service after reaching the maximum of the higher scale.( Refer clause 2 of the Joint Note-- Annexure I)
b) There shall be no Provident Fund to officers joining the Bank on or after 01.04.10 and they shall be covered by a Defined Contributory Pension Scheme as introduced for employees of the Central Government. (Refer clause 6 (d) of the Joint Note—Annexure I).
6. Following charts as received from IBA in connection with payment of arrears in terms of Joint Note dated 27-04-2010 are enclosed:
Chart showing Existing and Revised Basic Pay,
CCA and HRA scalewise for officer--Annexure A
Chart showing Existing Dearness Allowance Payable
to officers for the period Nov,07 to April, 10--Annexure B
Chart showing RevisedDearness Allowance payable to
Officers for the period from Nov, 07 to Apr, 10--Annexure C
.3.
7.Payment of Revised Salary from 01-05-2010
Payment of revised monthly salary and allowances is to be made on an ad-hoc basis from 01-05-2010 after Head Office, Personnel Services informs about receipt of ‘No Objection’ from the Govt. of India.
Package for the payment of revised salary from May’10 onwards will be sent by Head Office, Department of Information Technology.
For the purpose of payment of revised salary, salary sheet will continue to be prepared on the basis of old pay structure and on the basis of revised pay structure as well. The difference in monthly emoluments as per old and revised structure will be the amount to be paid on an ad-hoc basis.
Ad-hoc payment(gross amount of difference in monthly emoluments) arising out of salary revision form 01-05-2010 will be debited to ‘Working Expenses- salary revision for officers (ad-hoc) A/C’.
Ad-hoc monthly Bank’s contribution to PF/Pension arising out of the salary revision will be debited to’ Working Expenses- Salary revision for officers (ad-hoc)-PF/PensionA/C’.
8.Fixed Personal Pay
FPP is to be paid from 01-11-2007 at revised rate as per clause no.11 of the Joint Note dated 27-04-2010 - Annexure-I.
Necessary clarification on stagewise fitment of FPP in terms of revision as per Joint Notehas been sought from IBA and the branches/offices will be advised in this connection on receipt of such clarification.
9.Norms to be followed in respect of contribution to PF/Pension fund by the Officer Employeeswho joined on or after 01-04-2010:
As there shall be no Provident Fund to such employees, no deduction in respect of PF from their salary shall be effected.
They will be covered by a Defined Contributory Pension scheme to which they will be required to contribute @ 10% of pay plus DA and the Bank will make a matching contribution. Branches/offices will be advised separately by our Pension Cell about deduction towards above Defined Contributory Pension.
10. The Zonal Offices, after preparing revised salary for the current month for all Branches/Offices under their jurisdiction, will workout a comparison between figures of April’10 and May’10 and send the consolidated report showing additional monthly financial load to Head Office, Personnel Services Department and Finance Department as well within 15 days of disbursement of revised salary. The report on this monthly additional financial load for the Zone as a whole should include bank’s contribution to PF and Pension also, shown separately.
.4.
11. Payment of arrears for 01-11-2007 to 30-04-2010
After paying revised salary for the current month, Zonal Offices will take steps for calculation of arrears to the Officer Employees for the period from 01-11-2007 to 30-04-2010 for which a package will be sent by Head Office, Department of Information Technology. The calculation sheet so prepared at Zonal Office may be sent to the concerned branches with instruction to scrutinize and inform about changes therein, if any. The Zonal Office will send to the branches the final calculation sheet for payment, after incorporating the valid changes.
a) In respect of officers in service as on 27-04-2010 and presently covered by the Contributory Provident Fund, while making payment of arrears, the following procedure as suggested by IBA should be followed for smooth implementation of the Pension Settlement:
An amount equal to 2.8 times of the ‘Pay’ for the month of November, 2007 be deducted from arrears and withheld in a suspense account for crediting to the Pension Fund in case the officer employee opts to join the pension scheme complying with the terms of the settlement dated 27-04-2010 .
(In this matter, Head Office will issue further instructions in detail)
b) No deduction as above (2.8 times of the ‘Pay’ for Nov.’07) be made or withheld from arrears of the officer employees who retired during the period from 01-11-2007 to 27-04-2010 because they will be joining the Pension Scheme by making contribution towards funding gap as retired officer employees in terms of the settlement.
12. Payment to Officers under suspension:
There will be no change in Basic Pay for the calculation of subsistence allowance payable to officers.
13. Norms to be followed in respect of contribution to PF/Pension fund of the officer employees who retired/expired between 01-11-2007 and 30-04-2010 (i.e. those who are not in service now):
Member’s Contribution to PF(and not the bank’s contribution to PF/Pension) in respect of the above retired/expired officer employees has to be refunded to the retirees/legal heirs of the deceased officers directly from the branch/office, by first crediting the amount to HO account(Code PFC 201) and then simultaneously debiting it with the similar amount.
A separate PA-2 statement for all the retired/expired officers/employees of the branch should be prepared superscribing ‘Credit-Arrear of the retired/expired’ showing member’s contribution and Bank’s contribution to PF/Pension. In remarks column of PA-2, the relevant period should also be mentioned against each member. This PA-2 statement should be sent to Head Office alongwith Credit Advice.
.5.
Another PA-2 statement should be prepared superscribing ‘Debit- Arrear of the retired/expired’ showing only the member’s contribution to PF which has been refunded.This PA-2 statement should be sent to Head Office alongwith Debit Advice.
The date of the above two advices(Credit and Debit) will be the same.
In a nutshell, the member’s contribution to PF has to be refunded at branch/office level to the retirees/ legal heirs of the deceased employee and Bank’s contribution to PF/Pension has to be remitted to Head Office, PF Department.
Under no circumstances, Bank’s contribution to PF/Pension on account of any retired /expired officer employee be paid to the retiree/legal heir of the deceased at branch/office level.
14. For all officers/employees in service, a separate PA-2 statement superscribing ‘Arrear of staff in service’ should be prepared and sent to Head office, PF Department along with the related credit advice.
15. For calculation of additional amount of gratuity/pension, if any, a statement superscribing ‘For Additional Gratuity and Revised Pension’ having old and revised salary details for the last one year for each of such officer employee/deceased officer employee should be prepared and sent to Head Office, PF Section.
Following payment of arrears in the Zone, the Zonal Offices will prepare a consolidated statement showing yearwise and category wise financial load on account of payment of arrears to officers for the entire Zone including their own office and send the same to Head Office, Finance Department and to Head Office, Personnel Department as well positively within one month after effecting such payment.
IMPORTANT: The arrears as well as revised salary to officer employees may be paid only when they are advised by Head Office, Personnel Services Deptt. about receipt of ‘No Objection’ from the Govt. of India in this regard.
Branches/ Offices are advised to preserve this circular alongwith its enclosures for implementation of the settlement scrupulously
General Manager
Personnel Services