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HUMAN RESOURCES DEVELOPMENT DIVISION 7, BHIKHAIJI CAMA PLACE, HEAD OFFICE, NEW DELHI-66

HRDD Circular No. 628 Date: 12.06.2010 TO ALL OFFICES HRD DIVISION CIRCULAR NO. 628 Reg: Salary Revision for officer employees governed by PNB (Officers) Service Regulations, 1979 We take pleasure in informing all offices that consequent upon deliberations by the Indian Banks Association (IBA) with the representatives of Officers Associations, a package for salary revision for officers has been worked out and IBA has accordingly signed a Joint Note on 27.04.2010 with the representatives of officers organisations. 2. The details of the salary revision package for officers are enclosed (Annexure I). Pending amendments to the Regulations, it has been decided to disburse ad-hoc amount equivalent to the net arrears payable to the officer employees as also to continue to pay revised salary and allowances on an ad hoc basis. 3. It is suggested that the offices may work out the fitment and calculate the revised salary and arrears as per the format enclosed. 4. It may further be noted that the fitment of salary on stage to stage basis in respect of officers promoted from clerical cadre on or after 01.11.2007, is on provisional basis and may be subject to revision at a later date. 5. To facilitate calculation of arrears payable, we enclose with this circular, a set of charts and statements containing the following:1 2 3 4 Chart showing Existing & Revised Basic Pay, CCA, HRA scale-wise for officers (Annexure A) Chart showing Existing Dearness Allowances payable to Officers for the period November 2007 to April 2010(Annexure B) Chart showing Revised Dearness Allowance payable to Officers for the period November 2007 to April 2010 (Annexure C) Proforma for calculation (Annexure D) of revised salary and arrears

:2: 6. As the approval of the Government to implement the terms of the Pension Settlement pending amendments to the Regulations is still awaited, the following procedure is suggested for smooth implementation of the Pension Settlement in respect of employees who are in service as on 27th April, 2010 and presently covered by the Contributory Provident Fund. a) An amount equal to 2.8 times of the Pay for the month of November 2007 be withheld and kept in a Sundry account for crediting to the Pension Fund in case the employee opts to join the Pension Scheme complying with the terms of the Settlement dated 27th April, 2010. b) If any employee gives in writing an irrevocable letter (Annexure F) stating that he does not intend to join the Pension Scheme, in terms of the Settlement, 2.8 times of the November, 2007 pay as above need not be withheld. c) Once the offer is made to join the Pension Scheme, on expiry of the period of option, the amount withheld in respect of those who exercised the option to join the Pension Scheme should be transferred to Pension Fund. The arrears withheld in respect of those who did not opt for pension within the stipulated time, be refunded to them. d) No portion of arrears be withheld in respect of non-optee employees who retired from 1st November, 2007 to 27th April 2010. They will be joining the Pension Scheme by making contribution towards funding gap as retired employees in terms of the Settlement. 7. Those joining the Bank on or after 01.04.2010, would be governed by Defined Contributory retirement Benefit Scheme (DCRBS) instead of the existing Defined Benefit Pension Scheme under Employees Pension Regulations 1995 8. Detailed instructions regarding exercising the option of pension by the employees presently covered by Contributory Provident Fund would be issued by Pension & PF Department separately after receiving necessary advice from IBA. 9. The deduction of Provident Fund on the enhanced portion of Pay along with the matching amount of Banks contribution be kept in the Sundries Account at the time of making payment of arrears for the period 01.11.2007 to 31.03.2010. Since the details of arrears paid to the employees shall be recorded in the HRMS, the PF deduction / Banks contribution lying in Sundries shall be remitted in the month of July, 2010 alongwith the PF deduction / Banks Contribution of the month of July, 2010, through HRMS, for which detailed instructions are being issued separately. Contd...P/3

:3: 10. Incumbents should ensure that deductions on account of Income Tax and other statutory deductions, if any are made while disbursing the ad hoc amount/arrears and remitted to the concerned authorities. 11. The branches/ZSCs should send a copy of the arrear sheet in respect of ad hoc payment to the concerned Circle Offices for scrutiny/ post audit. ZTCs/RSCs/IT Centre may send a copy of the arrear sheet relating to officers working with them to CSC. Circle Offices/Head Office Divisions/CSC should send a copy of arrear sheet in respect of their offices to Revenue Audit Cell, HO, New Delhi. 12. Ad hoc amount for the period November 2007 to March, 2010 shall be made by the branches to the debit of Suspense Account by 30.06.2010 and reimbursement thereof may be sought from their respective Circle Offices. Circle Offices/Head Office Divisions/CSC shall seek reimbursement of ad hoc payment made from HO Accounts Department, New Delhi by 15.07.2010. The proforma for seeking reimbursement is enclosed as Annexure E. All the offices should ensure that suspense entries on account of ad hoc payment made to officers stand fully adjusted by 31.07.2010. 13. The details of arrears paid to the employees for the period 01.11.2007 to 31.03.2010 shall be recorded in the HRMS as per the instructions being issued separately. 14. Payment of arrears for the period 01.04.2010 onwards shall be debited to respective heads of Establishment Expenses and shall be paid through HRMS. In case of arrears of officiating for the period 01.04.2010 onwards, calculation shall be done at the Branch level but the payment will be made through HRMS as per the extant guidelines on payment of officiating. 15. The employees who have officiated in higher scale/cadre during 01.11.2007 to 31.05.2010 would be eligible for the difference in the officiating pay on account of Wage revision. The difference of officiating for the period 01.11.2007 to 31.03.2010 shall be paid by the branches as per the procedure followed for the salary arrear. 16. The All India PNB Officers Association (AIPNBOA) has requested that out of the net arrears payable to the officers, a sum of Rs.1500/- per member may be deducted from the arrears of revised salary payable to the officers members of their Association and remitted to the account of AIPNBOA in respective Circles where subscription is credited. Contd..p/4

:4: 17. The All India PNB Officers Federation (AIPNBOF) has also requested that out of the net arrears payable to the officers, an amount equivalent to 4% of the net of arrears of ad hoc salary (after deduction of pension cost in case of PF optees and PF in case of pension optees but before tax) payable to the members of their Federation, be deducted from the arrears and remitted to its account in respective Circles where subscription is credited. 18. It has been decided that the facility, as referred above, be extended to the above Association/Federation and the amount be deducted against no objection/authorization from the members and credited to the account of the Association/Federation.

DY.GENERAL MANAGER Encl: as above

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