Know the formula to calculate the hiked salary in 12th Bipartite Wage Revision for bankers - In the recent concluded 12th BPS settlement between IBA and Bankers Union, it is decided to have 3.00% load factor on basic pay. The overall hike will be 17%.
Load factor is the actual hike in the basic pay other than merger of Dearness allowances. The proposed merger of DA is considered as 44.24%. The load factor is calculated on Merged Basic Pay with 3.00% load.
A) As on date DA=44.24%
B) 8088 Points = 30.38%
C) A-B = 13.86%
C 13.86% would be reduced to 10%
New DA is 10% of new merged basic
B=30.38% will be merged to basic pay.
A simple calculator to calculate the Load Factor : Click Here
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