After around one year of negotiation, the expected demands of Banker's Officers Union to IBA for 11th bipartite settlement for wage revision, the rough calculation sheet get prepared after calculating the salary hike.
The revised wage of the 11th bipartite settlement includes the salary data with the Dearness Allowance (DA). Considering the demands submitted by the Banker's Union with a 6% hike, the revised basic pay will get calculated.
As on 31st October 2017, the DA won the basic pay will get calculated at 47.80%. The entire DA of 47.80% will get merged with the basic pay.
The outstanding DA as on 31st October 2017 will get merged with the basic pay. The initial DA will be the difference of FA as on 1st November 2017 to the date of settlement.
The bankers can easily calculate the expected salary as per the 11th bipartite settlement.
You need to enter the current basic salary and the hiked rate currently offered by IBA. You will get the expected basic pay with 47.80% merging of DA as on 31st October 2017 as well as the detail about the special allowance amount which is 7.75% of the basic pay that will get merged with the existing basic pay.
The calculation also includes the expected basic pay after merging of DA in the 11th Bipartite Settlement and the expected basic pay with the proposed hike.
You need to stay updated with the latest news on the 11th bipartite settlement for precise information!