11th Bipartite Settlement of PSU Banks finally signed on 11/11/2020.
Basic Pay :
Officers Scales of Pay:
Scale I : 36000 – 1490 x 7 – 46430 – 1740 x 2 – 44910 – 1990 x 7 – 63840
Scale II: 48170 – 1740 x 1 – 49910 – 1990 x 10 – 69810
Scale III: 63840 – 1990 x 5 – 73790 – 2220 x 2 – 78230
Scale IV : 76010 – 2220 x 4 – 84890 – 2500 x 2 – 89890
Scale V : 89890 – 2500 x 2 – 94890 – 2730 x 2 – 100350
Scale VI : 104240 – 2970 x 4 – 116120
Scale VII : 116120 – 3220 x 4 – 129000
Stagnation officers:
scale I : 5 stagnation increments 1990 x 2, 2220 x 2, 2220 x 1
scale II : 5 stagnation increments 2220 x 5
scale III : 6 stagnation increments 2220 x 4, 2500 x 2
scale IV : 2 stagnation increments 2730 x 2
scale V : 1 stagnation increment 2970 x 1
Clerical Basic:
17,900 – 1000 x 3 – 20900 – 1230 x 3 – 24590 – 1490 x 4 – 30550 – 1730 x 7 – 42660 – 3270 x 1 -45930- 1990 x 1 – 47920
Stagnation Clerical : 1990 x 9 – 65830.
Substaff Basic:
Rs. 14500- 500 x 4 -16500- 615 x 5 – 19575- 740 x 4 – 22535 – 870 x 3 – 25145 – 1000 x 3 -28145.
Stagnation Substaff 1000 x 9 -37145
Fitment in the new scales of pay shall be on a stage-to-stage basis.
Dearness Allowance :
Uniformity in periodicity has also been agreed upon. As already informed, DA would be at 0.07% per slab of 4 points over 6352 points of Index.
Special Pay :
SWO B – 1250
Head Cashier – 1940
Special Assistant – 2920
Daftary -850
House Rent Allowance
Officers: HRA:
- Area 12 to 45 lacs population : 9%
- Area 5 to 12 lacs population: 8%
- Area Below 5 lacs population: 7%
for clerks and substaff HRA
At all centres 10.25 %
CCA (Only or officers)
Places area 1 : 1400 per month
Places with 5 lakh and above : 1150 per month
Other areas : 700 per month
Special Allowance
Officers:
scale I to scale III : 16.40 % of the Basic pay with applicable DA thereon.
Scale IV and V : 19 % of the Basic pay with applicable DA thereon.
Scale VI and VII : 20 % of the Basic pay with applicable DA thereon.
For workmen employees:
Clerk and Substaff: 16.40 % of the Basic pay with applicable DA thereon.
Medical Aid:
Officers JMGS and MMGS Rs.10300
Officers in SMG and TEG Rs. 12300
Clerk and Substaff : 2355
Transport Allowance
Rs. 600 for both clerical and substaff DA also applicable.
Leave Fare Concession
Distance:
For subordinate staff
Once in 2 years – 2600 km
Once in 4 years – 5200 km
For clerks
Once in 2 years – 2200 km
Once in 4 years – 4400 km
Halting Allowance Bank Clerks:
| Places with population of
12 lakhs and state of Goa |
Places with population of
5 lakhs and above State of Capitals & Union Territories Rs. |
Other Places Rs. | |
| Clerks | 1050 | 900 | 675 |
| Sub Staff | 750 | 600 | 375 |
Halting Allowance Bank officers:
| Metro Rs. | Major ‘A’ Class Cities Rs. | Area I (Rs.) | Other Places Rs. | |
| Officers in Scale VI & above | 2700 | 1950 | 1650 | 1425 |
| Officers in Scale IV & V above | 2250 | 1950 | 1650 | 1425 |
| Officers in Scale I/II/III | 1950 | 1650 | 1425 | 1200 |
Metro : Chennai, Kolkata , Mumbai & Delhi
GRADE MAJOR “A” : Ahmedabad,Bangalore, Hyderabad,
AREA I (Popln of > 12 lacs) : Agra, Bhopal, Coimbatore, Indore, Jaipur, Kanpur, Kochi, Lucknow, Ludhiana, Madurai, Nagpur, Patna, Pune, Surat, Vadodara, Varanasi etc.
AREA II : Other places
What is Performance-Linked Incentive?
For the first time, the Performance-Linked Incentive (PLI) is being introduced in 11 public sector banks under the 11th bipartite agreement to encourage bank employees perform better in this competitive scenario. The Incentive will be based on the operating profit or net profit of individual bank.
The PLI is paid to employees on the basis of annual performance of bank and percentage increase in year-on-year profits of a firm or bank. It is payable to all employees in addition to the salary as an annual increment. For private banks and foreign banks, it will be optional to provide this incentive to employees.
How to calculate Performance-Linked Incentive (PLI)?
Have a look at the situations under which the PLI will be calculated:
Scenario | Status of PLI |
Year-on-Year Growth of company is less than 5% | No PLI |
Year-on-Year Growth of company is between 5%-10% | 5 Days salary given as PLI |
Year-on-Year Growth of company is between 10%-15% | 10 Days salary given as PLI |
Year-on-Year Growth of company is above 15% | 15 Days salary given as PLI |
What is PLI Calculation Formula?
Have a look at how PLI will be calculated:
For example, the Establishment expenses of XYZ bank on March 31, 2019 is Rs 100 with 50 employees:
Establishment Expense: Rs 100
Establishment Expense for 10 Days : 100/365 * 10 = 2.73
Increment for 50 employees: 2.73 / 50 = 0.0546
Gross Salary with PLI (Annual Increment): Rs 100 + (Rs 100 X 0.0546) - Rs 105.46 - (If Gross salary is Rs 100)
Other Allowances & Perks under 11th Bipartite Agreement
The 11th Bipartite Agreement has introduced some other allowances and perks for the bank employees. These are:
NPS & DA: Banking sector will increase its contribution to the National Pension Scheme (NPS) to 14% of the salary and Dearness Allowance (DA) from 10%. However, this is subject to the government approval.
Leave encashment: Under the 11th Bipartite Agreement, bank employees will be allowed to encash maximum 5 paid leaves in a year during a festival of their own choice. However, employees who are above 55 years can encash up to 7 paid leaves. Earlier, employees were able to encash leaves only at the time of retirement.
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