NEWS

:: Prominent Vietnam blogger's appeal rejected*** Fadnavis lauds north Indians, draws MNS' ire*** HC orders notices to Speaker, MLAs on journalists' arrest*** Two encounters underway in Kashmir*** UGC tells deemed varsities to change name*** Japan emperor to cede all public duties after abdication*** Swelling cityscape absorbed BDA land as govt wavered on master plan*** Rahul listed as 'non-Hindu' in Somnath temple register*** Girl students forced to undress by teachers as punishment Why is BJP unable to ignore Rahul?*** Rahul to pose question a day to corner Modi*** No need for guidelines to probe dowry cases: SC*** Benefit from rule of your own man, Modi tells Gujarat*** Dean allows Hadiya to speak with husband*** Google detects spy app stealing info from social media, phones*** Antony in hospital after fall at Delhi home** NITK Surathkal, five IITs get Rs 2K-cr interest-free loan for research*** Nestle refutes charge of using 'ash' in Maggi*** Onion acreage shrinks in Karnataka, brings tears in north*** Snehalata Shrivastava is first woman secretary general of Lok Sabha***

"HAPPY BIRTHDAY"

zwani.com myspace graphic comments
Happy Birthday-13th OCTOBER 2017(FRIDAY)
"HAPPY BIRTHDAY-13TH OCTOBER 2017(FRIDAY) JASWINDER PAL SINGH SENIOR SPL ASSISTANT DON KALAN Jag Bhushan SR. ASST. (BANKING) AMBALA CANTT Jag Bhushan SR. ASST. (BANKING) AMBALA CANTT Om Parkash Sikri DEPUTY MANAGER ISMAILA BALDEV RAJ Addl. Associate 1 HANSLI BRIDGE, BATALA Ramesh Kumar SR. ASST. (BANKING) SME BRANCH, CHANDIGARH VEENA PACHPORE Addl. Associate 1 SEC 35-C, CHANDIGARH Ashok Kumar Goyal DEPUTY MANAGER ZONAL OFFICE HARYANA-GENERAL BANKING Kuldeep Kumar Sharma DEPUTY MANAGER ZONAL OFFICE JAMMU Jaswinder Singh SENIOR SPL ASSISTANT TRIPRI PATIALA Dalbir Singh SR. ASST. (BANKING) UDHAMPUR Ambika Chugh ASSISTANT MANAGER AMBALA CITY Sushma Gupta SR. ASST. (BANKING) CHANDI MANDIR Sushma Gupta SR. ASST. (BANKING) CHANDI MANDIR Parveen Kumar Sharma ASST. GEN. MANAGER NRI JULLUNDER HEM SINGH Addl. Associate 1 KASAULI MANJINDER SINGH RANDHAWA ASSISTANT MANAGER ANAJ MANDI, SIRHIND MANDI ASHUTOSH JAIN Addl. Associate 1 ADB MALERKOTLA DEEP CHAND MANAGER LOHAKA Raj Kumar Bhagat DEPUTY MANAGER BHOGPUR SATISH KUMAR Addl. Associate 1 AMBALA ROAD, ISMAILABAD SATISH KUMAR Addl. Associate 1 AMBALA ROAD, ISMAILABAD MUNISH BALI Addl. Associate 1 BANKING OPERATIONS DEPARTMENT-HEAD OFFICE PATIALA Nitin Soni DEPUTY MANAGER ZONAL OFFICE HARYANA-GENERAL BANKING SANJEEV BHATIA ASSISTANT MANAGER BEESLA Sudhir Kumar DEPUTY MANAGER REWARI Gurupdesh Kaur CUST. ASST. (BANKING) ROPAR PAYAL MEHTA Addl. Associate 1 GHUMAR MANDI, LUDHIANA AMIT RAJ DEPUTY MANAGER HO PATIALA -OUTREACH/FINACIAL INCLUSION DEPTT Nitin Sharma DEPUTY MANAGER(S) ROHRU AMRITA DEEPAK Addl. Associate 2 JALANDHAR ZONAL OFFICE-RO-I JALANDHAR -ADMIN JASWANT SINGH ASSISTANT MANAGER S.A. JAIN COLLEGE, AMBALA CITY Vikas Goyal CUST. ASST. (BANKING) MANSA PANKAJ KUMAR TAMTA DEPUTY MANAGER NOORMAHAL ROAD ,PHILLAUR SIMRANJEET SINGH CUST. ASST. (BANKING) SPECIALISED AGRI COMM BR, PATIALA AVINASH KUMAR Addl. Associate 1 ABLU RIGZIN GURMETH ASSISTANT MANAGER ALSINDI Deepshikha . CLERICAL - ON PROB. MOHALI (S.A.S. NAGAR) Rohit Dutta CUST. ASST. (BANKING) NEAR KHUSHI TRADES, SECTOR-11, PANCHKULA ANKIT . ASST. (BANKING) N.G.M. JIND Rohit Dutta CUST. ASST. (BANKING) NEAR KHUSHI TRADES, SECTOR-11, PANCHKULA ANKIT . ASST. (BANKING) N.G.M. JIND SUNIL KUMAR ASST. (BANKING) GHAGA Sandeep Dhillon ASSISTANT MANAGER AMRITSAR Ram . Kishan CUST. ASST. (BANKING) NAKODAR ROAD, JALANDHAR Amandeep Sharma CLERICAL - ON PROB. NANGAL BHUR *** table>

Thursday, 25 June 2015

AIBEA Circular - 10th BP Settlement and Gratuity

Circular No.27/136/2015/32                                                                                      date 25.06.2015 


Dear Comrades,
10th BP Settlement and Gratuity

References are being made to us regarding Gratuity under the 10th BP Settlement signed recently on 25-5-2015.  Gratuity in the Banks is payable to employees and officers both under the Gratuity Act, 1972 as well as under the provisions of our Bipartite Settlement for employees and as per OSR for officers whichever is higher. ( other than in SBI where Gratuity is paid only under the Act with a ceiling of Rs. 10 lacs )

Eligibility :


As per Bipartite Settlement
As per Gratuity Act
On retirement on superannuation
On retirement on superannuation
On resignation after 10 years’ service
On resignation after 5 years’ service
On termination of service
On disablement
On becoming incapacitated
On death of an employee
On the death of an employee


Eligible Amount:

As per Bipartite Settlement
As per Gratuity Act
One month Pay for each completed year of service (Max. 15 months) plus half month Pay for each year beyond 30 years’ service ( No maximum)
Pay means Basic pay, Spl. Pay, Offg. Pay, PQP, increment portion of FPP.
15 Days wage x No. of years of service ( Max. Rs. 10 lacs)
Wage means Basic Pay, Spl. Pay, Spl. Allowance, PQP, Offg. Pay, DA, Increment portion of FPP.
1 day = monthly wage/26 days
PAYMENT OF GRATUITY FROM 1.11.2012
1.   In terms of Section 4 (5) of the Payment of Gratuity Act, 1972, Gratuity under Gratuity Act or BPS provisions whichever is higher is payable.

2.   Hence for every retiring employee, Gratuity has to be calculated both under the Act and under BPS and higher of the two will be paid.

3.   For those employees who have retired from November, 2012, Gratuity will be re-calculated both under the Act and as per 10th BPS and arrears/difference if any will be paid to them.

Example:
a)      A Special Assistant (Graduate and CAIIB) with 8 Stagnation Increments and retiring in July, 2015 after 40 years’ service

Eligibility as per the Act 
Eligibility as per  BPS
Paid/
Payable

Under 9th BPS

58,342/ 26 x 15 x 40
= 13,46,353
Max. Rs. 10 lacs
28110 x 20 =
Rs. 5,62,000

 10 lacs


Under 10th BPS

62,758 / 26 x 15 x 40
= 14,48,260
Max Rs. 10 lacs
47270 x 20 =
Rs. 9,45,400
10 lacs

b)      A Daftary with 8 Stagnation Increments and retiring in July, 2015 after 40 years’ service

Eligibility as per the Act
Eligibility as per the BPS
Payable
Under 9th BPS
30,930/ 26 x 15 x 40
= 713,770
14890 x 20
= 2,97,800
713,770

Under 10th BPS
33,204 /26 x 15 x 40
= 766,250
25000 x 20
= 5,00,000
766,250
Difference of Rs. 52,480 will be paid

c)       An Officer retiring in July, 2015 after 40 years’ service
       ( with Old Basic pay Rs. 25,700 and revised Basic pay Rs. 42,020)

Eligibility as per the Act 
Eligibility as per  BPS
Paid/Payable

Previous
54,150 / 26 x 15 x 40
= 12,49,615 Max. Rs. 10 lacs
25700 x 20 =
Rs 5,14,000
  
   10 lacs

Revised
56,180 / 26 x 15 x 40
= 12,96,460Max Rs. 10 lacs
42020 x 20 =
Rs 8,40,400
   10 lacs

d)  An Officer retiring in July, 2015 after 40 years’ service
( with Old Basic pay Rs. 40400 and revised Basic pay Rs. 66070 )

Eligibility as per the Act 
Eligibility as per  BPS
Paid/Payable

Previous
85,123/ 26 x 15 x 40
= 19,64,377 Max. Rs. 10 lacs
40,400 x 20 =
Rs 8,08,000
  
   10 lacs

Revised
88335 / 26 x 15 x 40
= 20,38,500 Max Rs. 10 lacs
85020 x 20 =
Rs 13,21,400
   13,21,400

Difference of Rs. 3,21,400 will be paid

e)  An Officer retiring in July, 2015 after 40 years’ service
( with Old Basic pay Rs. 52000 and revised Basic pay Rs. 85000 )

Eligibility as per the Act 
Eligibility as per  BPS
Paid/Payable

Previous
1095654/ 26 x 15 x 40
= 25,28,400 Max. Rs. 10 lacs
52,000 x 20 =
Rs 10,40,000
  
   10.40 lacs

Revised
113645 / 26 x 15 x 40
= 26,22,577 Max Rs. 10 lacs
85020 x 20 =
Rs 17,00,400
   17.00 lacs

Difference of Rs. 6.60 lacs will be paid

Our units should ensure that such arrears of Gratuity wherever eligible is paid to the concerned retirees.

With greetings,
Yours Faithfully,

No comments:

Post a Comment