Cabinet approves introduction of Payment of Gratuity (Amendment) Bill 2017 in the Parliament - Ceiling be revised to Rs.20 Lakhs

On 12th September 2017, the Government initiated the process for amendment to Pyment of Gratuity Act, 1972. Union Cabinet approves introduction of the Payment of Gratuity (Amendment) Bill, 2017 in the Parliament. Gratuity ceiling be revised to Rs. 20 Lakhs.

More than 30,000 bank employees/officers participated in Morcha to Parliament on 15th September 2017 on the call of UFBU

More than 30,000 bank employees/officers participated in Morcha to Parliament on 15th September 2017 on the call of UFBU. We congratulate all the bank employees and officers for making the Morcha to Parliament a Grand Success.

For more details Click: http://aipnbsf.org/files/Circular%2020(2017).pdf

Medical Insurance Policy is expiring on 30th Sep, employees retiring during the policy period are advised to pay 1 month premium

As the current Medical Insurance Policy for active employees is expiring on 30.09.2017 and Policy for the retired employees starts from 01.11.2017; the employees retiring during the policy period (01.10.2016 to 30.09.2017) have to become members of the retired employees scheme by submitting their application through HRMS.

Policy for the retired employees starts from 01.11.2017 and there is a gap of one month i.e. October 2017 for which separate premium with Domiciliary coverage and without Domiciliary coverage, detailed hereunder, as advised by United India Insurance Company shall have to be paid by the retirees.

Pro-Rata premium for one month under retiree policy without Domiciliary coverage

OPTION I (WITHOUT DOMICILIARY)

Cadre

 

Annual Premium

 

Sum Insured

 

Pro-Rata Premium for one  month without GST

GST

@ 18%

Total Premium

 

Officers

13935

400000

1184

213

1397

Clerks/Sub staff

10452

300000

887

160

1047

 Pro-Rata premium for one month under retiree policy with Domiciliary coverage

OPTION II (WITH DOMICILIARY)

Cadre

 

Annual Premium

 

Sum Insured

 

Pro-Rata Premium for one  month without GST

GST

@ 18%

Total Premium

 

Officers

17400

400000

1478

266

1744

Clerks/Sub staff

13000

300000

1104

199

1303

Willing retirees may become members of the insurance scheme by submitting application upto 16.09.2017 in the branches which will be uploaded in HRMS by concerned branches/offices.

The amount of premium will be deducted and remitted to United India Insurance Company on 18.09.2017.

During negotiations held on 6th Sep.17 issues like Leaves, LFC were further discussed; next meeting will be held on 3rd Oct.2017

As informed earlier, another round of discussion between the Sub-Committee of IBA and negotiating workmen unions was held on 6th September 2017 at IBA office in Mumbai. Issues relating to Leaves & LFC were further discussed. Next meeting will be held on 3rd October, 2017 at IBA Office, Mumbai.

For more details Click: http://aipnbsf.org/files/Circular%2019_0.pdf

Congratulations to all Bank Employees & Officers for making One Day All India Strike on 22nd August 2017- "A Thunderous Success"

We Congratulate all Bank Employees and Officers for making One Day All India Strike on 22nd August 2017 under the banner of UFBU - "A Thunderous Success".

For UFBU Circular Click: http://aipnbsf.org/files/UFBU%20Cir.%2017.pdf

DA payable to employees for the Quarter Aug. to Oct. 2017 shall be 478 slabs i.e. an increase of 22 slabs from the current level

In terms of clause 7 of the 10th Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015, the rate of Dearness Allowance payable to workmen and officer employees for the quarter August to October 2017 shall be 47.80% of ‘Pay’ against 45.60% of ‘Pay’ applicable for the previous quarter.