Saturday, January 18, 2014

Pay slip cost!

I tried to explain meaning of 9.5% increase on payslip cost
With my understanding/experience  of  calculations/facts.L
Comrades may give more inputs and correct me  if  I am wrong.
I will make corrections or if found wrong, withdrw the post.
  
Payslip components =
Basic Pay,
Special Pay,
Fixed
Personal Pay,
Professional Qualification Pay,
Dearness Allowance,
House Rent Allowance,
City Compensatory Allowance (where applicable),
Transport Allowance and
Annual Medical Aid.

And  not include the cost of
Superannuation
(PF,Pension/NPS,Gratuity)
 LFC,
Leave encashment in service and on retirement,
Medical reimbursement,
Welfare measure from bank’s funds  etc.
**************************************************
Last time IBA offered(for award staff) 2577 crores or 17.5%
Out of which amount allotted to Pay slip compenets is 1514 crores or 10.3%(approx.).
With this allocation Clerk in 3rd stage got 16.87% (approx.)increase in gross emoluments
And in last stage got 13.53%(approx.).

Hence ,now, offer of 9.5%  on pay slip cost is equal to 16.14,(17.5/10.3X9.5) nearer to last time increase.

Our common charter of demand is for 30% on pay slip cost.
There is difference of about 20%

In my personal view a settlement with increase in pay slip of

 15%plus =fair
 20%plus =good
 25%plus =best

What we r going to get?
On achieving % , we may talk about other demands in charter including 5 day banking.


8 comments:

Rahul Modi said...

Sir,

Is it possible? 5 day a week?

Sir,

atleast fixation of working hours do the comfort for the young bankers as well as our seniors. But it is very true sir this is the need of the hour.
I strongly believe if union can do it for us it will a lot benefit to the bank in terms of quality of the work and employee will get job satisfaction. (both are utmost required).

please sir guide us whether it is possible or not?

Anonymous said...

what is the meaning of pay slip cost....please elaborate

KANAGARAJ JAGANATHAN said...

Friends, we should atleast get 15% of salary components or 30% as submitted in the charter of demands during Oct.2012. Otherwise, working in Banking Industry is a WASTE. Waste in the sense, Govt. is at their will are opening new branches without adequate staff/officers and squeezing us to work more than 12 hours a day and even on Sundays without any compensation. We cannot look at our families even on Sundays. Suppose, if the Unions are able to get 5 days week in the forth coming 10 BPS, it is very easy for the Banks to get the officers to do the works on Saturdays and Sundays again without any monetary benefits and even threaten them with Transfers, Punishments etc. Hence, I would suggest the negotiating committee to ask for monetary compensation for the award staff as well as to the Officers, who do the work beyond 7 hours of duty every day and double salary on leave days and drop the 5 Days week. In may experience, the 5 days week will benefit only the Award Staff and not the Officers.

KANAGARAJ JAGANATHAN said...

I have understood what Mr. Kumar has elaborated with regard to the meaning of Pay Slip Cost. And I have also known the amount allotted to the salary in the 9 BPS and also in terms of percentage of Pay slip cost. Thank you sir.

Anonymous said...

ANY THING LESS THAN 20% NOT ACCEPTABLE,WHY SHOULD WE SETTELE FOR LESS ???

Anonymous said...

WHAT WILL BE A SALARY OF NEWLY JOINED CLERK AFTER 9.5 % INCREMENT ON PAY SLIP...ANY ONE IDEA?????

Rakesh Chandra Bansal said...

Sir in my openion this is the time for demand of our wages should be as per central govt employees. Is it possible.

sam_ibrahimi said...

Have you considered the DA slab change % to 0.10 from 0.15?
As per my calculation 9.5% on pay slip cost will have a final impact of 8% in my take home salary.
Detailed calculation is on my facebook profile.


Satya Prakash