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Instrucions for calculation of Arrears for employees and retirees (who retired after 1.11.2012)


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Minutes of the Discussion held on 23rd February 15, between ‎IBA‬ & ‎UFBU

1.The wage revision will be effective from 01.11.2012.

2.The annual wage increase in salary and allowances @ 15% which works out to Rs. 4725 crores on salary slip components.

3.The new scales will be constructed after merging dearness allowance corresponding 4440 points as on November 2011, which works out to 60.15% and adding a load factor of 2% on Basic pay plus Dearness Allowance as on 31st March 2012 amounting to around Rs. 597 crores.
4. Distribution of annual wage increase between Workmen Unions and Officers’ Associations will be worked separately based on breakup of establishment expenses as on 31.03.2012.

5.Every second and fourth Saturday of the month will be a holiday and other Saturdays will be full working days. 6.All others issues of the Managements and Unions/Associations discussed during the process of negotiation will be settled to the mutual satisfaction. The parties will meet on mutually convenient dates to draw out a detailed Bipartite Settlement/Joint Note on the various issues on which consensus position have been reached. The parties will endeavour to finalise the Bipartite Settlement/Joint Note within a period of ninety days.

------------Sd--------- IBA & UFBU

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