Dear readers in this article you will know about “12th Bipartite Settlement Expected Salary” related to bankers expected salary details.
Here are the main points
1. The changes will start from November 1, 2022.
2. Everyone’s pay will go up by a total of 17%.
3. Some parts of the pay are being combined (DA at 8088 points), and after combining, there will be an extra 3% increase.
4. The increase in yearly pay for workers and officers will be calculated separately.
5. For retired people, a fixed monthly payment (excluding DA) will be considered, without affecting their pension update request as of October 31, 2022.
6. Recommendations have been sent to the Government of India for a 5-day work week.
INTRODUCTION TO 12TH BIPARTITE SETTLEMENT
The 12th Bipartite settlement is an eagerly anticipated event for bankers, scheduled for November 1, 2022. It is the moment when the salary and various wage components for employees in public sector banks and certain private sector banks are determined through discussions between two key parties:
- The United Forum of Bank Unions (UFBU) and
- The Indian Banks’ Association (IBA).
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12TH BPS SALARY ARREARS CALCULATOR OFFICERS -CLERICALS- SUB STAFF (ESTIMATED)
EXPECTED SALARY TABLE
Please remember that these figures are speculative and subject to change. We’ll update them as soon as we have more information regarding the 12th Bipartite Settlement discussions and any other influencing factors, such as Dearness Allowance.
OFFICERS SALARY 12TH BIPARTITE SETTLEMENT
Stage | Old Basic pay | DA merged (8088 Points- 30.38%) |
3.00% Load Factor | New Basic Pay | New Gross (Expected) | Total Gross increase (Expected) |
1 | 36000 | 10936.80 | 1408.10 | 48350 | 76566.00 | 10922.00 |
2 | 37490 | 11389.46 | 1466.38 | 50350 | 79705.00 | 11381.70 |
3 | 38980 | 11842.12 | 1524.66 | 52350 | 82844.00 | 11840.40 |
4 | 40470 | 12294.79 | 1582.94 | 54350 | 85984.00 | 12300.10 |
5 | 41960 | 12747.45 | 1641.22 | 56350 | 89123.00 | 12759.80 |
6 | 43450 | 13200.11 | 1699.50 | 58350 | 92263.00 | 13219.50 |
7 | 44940 | 13652.77 | 1757.78 | 60360 | 95414.00 | 13690.20 |
8 | 46430 | 14105.43 | 1816.06 | 62360 | 98554.00 | 14149.90 |
9 | 48170 | 14634.05 | 1884.12 | 64690 | 102213.00 | 14679.10 |
10 | 49910 | 15162.66 | 1952.18 | 67030 | 105885.00 | 15222.30 |
11 | 51900 | 15767.22 | 2030.02 | 69700 | 110076.00 | 15834.00 |
12 | 53890 | 16371.78 | 2107.85 | 72370 | 114267.00 | 16444.70 |
13 | 55880 | 16976.34 | 2185.69 | 75050 | 118471.00 | 17070.40 |
14 | 57870 | 17580.91 | 2263.53 | 77720 | 122663.00 | 17683.10 |
15 | 59860 | 18185.47 | 2341.36 | 80390 | 126855.00 | 18294.80 |
16 | 61850 | 18790.03 | 2419.20 | 83060 | 131045.00 | 18906.50 |
17 | 63840 | 19394.59 | 2497.04 | 85740 | 135250.00 | 19532.20 |
18 | 65830 | 19999.15 | 2574.87 | 88410 | 139441.00 | 20142.90 |
19 | 67820 | 20603.72 | 2652.71 | 91080 | 143633.00 | 20756.60 |
20 | 69810 | 21208.28 | 2730.55 | 93750 | 147825.00 | 21369.30 |
21 | 71800 | 21812.84 | 2808.39 | 96430 | 152028.00 | 21992.00 |
22 | 73790 | 22417.40 | 2886.22 | 99100 | 156220.00 | 22604.70 |
23 | 76010 | 23091.84 | 2973.06 | 102080 | 160898.00 | 23290.30 |
24 | 78230 | 23766.27 | 3059.89 | 105060 | 165575.00 | 23973.90 |
SCALE IV AND V SALARY 12TH BIPARTITE SETTLEMENT
Stage | Old Basic pay | DA merged (8088 Points- 30.38%) |
3.00% Load Factor | New Basic Pay | New Gross (Expected) | Total Gross increase (Expected) |
1 | 76010 | 23091.84 | 2973.06 | 102080 | 167629.70 | 27087.00 |
2 | 78230 | 23766.27 | 3059.89 | 105060 | 172503.10 | 27881.00 |
3 | 80450 | 24440.71 | 3146.72 | 108040 | 177377.50 | 28677.00 |
4 | 82670 | 25115.15 | 3233.55 | 111020 | 182251.90 | 29473.00 |
5 | 84890 | 25789.58 | 3320.39 | 114000 | 187126.30 | 30268.00 |
6 | 87390 | 26549.08 | 3418.17 | 117360 | 192620.30 | 31170.00 |
7 | 89890 | 27308.58 | 3515.96 | 120720 | 198114.30 | 32070.00 |
2 | 92390 | 28068.08 | 3613.74 | 124080 | 203609.30 | 32972.00 |
3 | 94890 | 28827.58 | 3711.53 | 127430 | 209090.30 | 33859.00 |
4 | 97620 | 29656.96 | 3818.31 | 131100 | 215092.40 | 34846.00 |
5 | 100350 | 30486.33 | 3925.09 | 134770 | 221092.50 | 35831.00 |
Note:
1.CCA is not added to the Gross Salary. So, Eligible staff can add CCA to their Gross Salary
2.Slight variance will be there for those who are having PQP
3.DA is calculated at 0.05% of Pay per slab
4.Special allowance (Expected) is calculated at 30.75% of Pay for Officer Scale-I, II, III and 33% for Officer Scale-IV,V
5.HRA is calculated at 10% of Basic pay
6.No change in Learning Allowance.
12TH BIPARTITE SETTLEMENT CALCULATIONS
Your new Basic Pay, according to the Memorandum of Understanding (MOU) signed on December 7, 2023, will be calculated as follows:
- Your present Basic Pay is X.
- A percentage of X (30.38%) will be added, and the result is Y.
- A load factor is calculated (3% of the sum of X and Y), and the result is Z.
- The new Basic Pay is the sum of X, Y, and Z.
For example, if your current Basic Pay (X) is 78,230:
- Y is calculated as 78,230 * 30.38% = 24,157.40, which is the amount of DA to be merged with your basic pay.
- The total after merging is 78,230 + 24,157.40 = 102,387.40.
- Z, the 3% basic load, is calculated as 102,387.40 * 3% = 3,053.62.
- Therefore, your new Basic Pay is 102,387.40 + 3,053.62 = 105,459.
CLERICAL STAFF SALARY 12TH BIPARTITE SETTLEMENT
STAGE | BASIC PAY | NEW BASIC PAY **3% LOAD |
1 | 17900.00 | 24040.00 |
2 | 18900.00 | 25380.00 |
3 | 19900.00 | 26720.00 |
4 | 20900.00 | 28060.00 |
5 | 22130.00 | 29710.00 |
6 | 23360.00 | 31360.00 |
7 | 24590.00 | 33010.00 |
8 | 26080.00 | 35010.00 |
9 | 27570.00 | 37010.00 |
10 | 29060.00 | 39010.00 |
11 | 30550.00 | 41010.00 |
12 | 32280.00 | 43330.00 |
13 | 34010.00 | 45650.00 |
14 | 35740.00 | 47970.00 |
15 | 37470.00 | 50290.00 |
16 | 39200.00 | 52610.00 |
17 | 40930.00 | 54930.00 |
18 | 42660.00 | 57250.00 |
19 | 45930.00 | 61650.00 |
MAX 20 | 47920.00 | 64320.00 |
1st STAGE | 49910.00 | 66990.00 |
2nd STAGE | 51900.00 | 69660.00 |
3rd STAGE | 53890.00 | 72330.00 |
4th STAGE | 55880.00 | 75000.00 |
5th STAGE | 57870.00 | 77670.00 |
6th STAGE | 59860.00 | 80340.00 |
7th STAGE | 61850.00 | 83010.00 |
8th STAGE | 63840.00 | 85680.00 |
9th STAGE | 65830.00 | 88350.00 |
SUBORDINATE STAFF SALARY 12TH BIPARTITE SETTLEMENT
STAGE | BASIC PAY | NEW BASIC PAY **3% LOAD |
1 | 14500.00 | 19470.00 |
2 | 15000.00 | 20140.00 |
3 | 15500.00 | 20810.00 |
4 | 16000.00 | 21480.00 |
5 | 16500.00 | 22150.00 |
6 | 17115.00 | 22975.00 |
7 | 17730.00 | 23800.00 |
8 | 18345.00 | 24625.00 |
9 | 18960.00 | 25450.00 |
10 | 19575.00 | 26275.00 |
11 | 20315.00 | 27270.00 |
12 | 21055.00 | 28265.00 |
13 | 21795.00 | 29260.00 |
14 | 22535.00 | 30255.00 |
15 | 23405.00 | 31425.00 |
16 | 24275.00 | 32595.00 |
17 | 25145.00 | 33765.00 |
18 | 26145.00 | 35105.00 |
19 | 27145.00 | 36445.00 |
MAX 20 | 28145.00 | 37785.00 |
1st STAGE | 29145.00 | 39125.00 |
2nd STAGE | 30145.00 | 40465.00 |
3rd STAGE | 31145.00 | 41805.00 |
4th STAGE | 32145.00 | 43145.00 |
5th STAGE | 33145.00 | 44485.00 |
6th STAGE | 34145.00 | 45825.00 |
7th STAGE | 35145.00 | 47165.00 |
8th STAGE | 36145.00 | 48505.00 |
9th STAGE | 37145.00 | 49845.00 |
UNDERSTANDING DA MERGER
MERGING DA WITH BASIC PAY
Agreement to merge dearness allowance (DA) up to 8088 points of the price index with basic pay.
The specific increment resulting from the DA merger is yet to be determined, with indications pointing to a potential 17 % increase, as seen in previous settlements.
Video Credit : Study Niti
DURATION OF BIPARTITE SETTLEMENT TALKS
These discussions typically span a duration of 2 to 3 years before culminating in increased salaries and the payment of arrears to bankers. Before reading this article to have a better understanding of Bipartite settlement you can read Bank Bipartite Settlement History
IMPLEMENTATION TIMELINE FOR 12TH BIPARTITE SETTLEMENT
However, it is important to manage expectations as the actual implementation of these increased salaries, resulting from the 12th Bipartite Settlement, is signed in December 2023.
Understanding what these future salaries will look like is a challenging task. Nonetheless, we have endeavored to provide an estimate of the expected salary under the 12th Bipartite Settlement, drawing insights from past bipartite settlements.
Please find our projection in the table below, which we will continue to update as more information becomes available regarding the progress of the 12th Bipartite Settlement discussions, and other factors like Dearness Allowance.
ACCELERATED NEGOTIATIONS FOR 12TH BIPARTITE SETTLEMENT
The Government has instructed the Indian Banks’ Association (IBA) to initiate negotiations for the 12th Bipartite settlement promptly.
BENEFITS OF EARLY WAGE REVISION
Early wage revision is expected to enhance working conditions and provide incentives to employees in the banking sector.
PAST AGREEMENT: 15% PAY INCREASE
In November 2020, the IBA had reached an agreement with bank unions for a 15% increase in the pay slip for bank employees.
This increase applied to the five year period spanning from November 2017 to October 2022.
CONCLUSION
While the exact details of the 12th Bipartite Settlement remain uncertain, it is pivotal moment for the banking sector.
Bankers can expect salary revisions, but the actual implementation is likely a few years away. Stay tuned for updates, and we’ll keep you informed about the progress of these discussions and any changes to the expected salary estimates.
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