KNOW HOW D.A. IS CALCULATED!

Many readers (especially junior employees) raise doubts about the meaning of 
“Merger of D.A at 4879 points” as mentioned in 07.03.2013 talks..
Also comment on the delay in the process of wage revision talks.
Hence I will post  about the significane of merger of D.A. with Basic Pay,
And the process of wage revision talks in the banking industry.
Those who already know about these subjects may explain to their juniors in the branches.
Others pl. read/understand and tell others.Before that for ur inderstanding I give below the details of how D.A is calculated.
RE-POSTED:

KNOW HOW D.A. IS CALCULATED!

1. Labour Department will release Consumer Price Index (No.)
   every month ,based on year 2001.

2. Jan,Feb,March is one quarter. Likewise there are 4 quarters.

3.Difference between average CPI over average of previous quarter is called increase.

4.Bank D.A is calculated on CPI based on year 1960.

WAGE REVISION TALKS! 07.06.2013

TEXT OF UFBU CIRCULAR No.2013/9 dt. 7^th June, 2013

IBA’s Negotiating Committee headed by Shri. T.M. Bhasin met the United Forum of Bank Unions today at IBA office in Mumbai.

In today's meeting, we demanded that there should be a time bound programme to complete the negotiations without much delay to arrive at the wage revision settlement at the earliest. IBA also agreed with our views and informed that the same can be worked out by mutual discussions. Today we also demanded that the wage revision should be effective from 1st November 2012 and that the new pay scale should be constructed by merging the DA at 4876 points i.e. the DA applicable to July- September 2012 quarter. We also insisted that the IBA should make their offer on the percentage of wage load acceptable to them. For this, the IBA informed us that they would consult the higher authorities in the Government and inform us in the next round of discussions. The IBA suggested that the pay scales could be constructed by merging the DA applicable upto 2009. We did not agree to this proposal. This issue will be discussed further.