UFBU meeting held on 12th June decides further programmes including more strikes in Jul & Aug on Wage Revision & Banking Reforms

UFBU meeting held on 12th June 2018 in Chennai, congratulated entire bankmen for the total success of 2 days strike. Decides further programmes including more strikes in July and August on wage revision and banking reforms. Before that decided to meet higher authorities in Govt for amicable resultion of demands.

For detailed Circular: Click: http://aipnbsf.org/files/UFBU%20Circular.PDF

IBA wrote a letter to the Chairman of SBI, MD & CEOs of PNB, BOB, lndian Bk, UBI & OBC advising them to re-examine their mandate

On 30.05.2018, IBA wrote a letter to the Chairman of SBI, MD & CEOs of PNB, BOB, lndian Bank, UBI & OBC advising them to re-examine their mandates to include all Officers upto Scale VII.

We salute Com. Pradeep Dhuria of PNB Fazilka who passed away for the cause of bankers during the demonstration held on 30th May

We salute Com. Pradeep Dhuria of PNB Fazilka who passed away for the cause of bankers during the demonstration held on 30th May 2018.

MAY HIS SOUL REST IN PEACE.

48 Hours' continuous All India Bank Strike on 30th & 31st May 2018 at the call of United Forum of Bank Unions - A Grand Success

48 Hours' continuous All India Bank Strike - A Grand Success We are extremely glad to inform the members that the call of UFBU for 48 Hours’ continuous All India Bank Strike starting from 6.00 a.m. on 30.05.2018 to 6.00 a.m. on 1st June 2018 demanding expeditious wage settlement and wage negotiations in respect of officers upto Scale-VII was a grand success displaying the great strength of united movement of the UFBU membership. 

In 16th May Meeting, IBA agreed to take up the suggestions given by UFBU on Medical Insurance, at the time of renewal of policy

In 16th May Meeting, IBA agreed to take up the suggestions given by UFBU on Medical Insurance, at the time of renewal of policy.

On 5th May18, IBA made a meager offer of 2% increase which was rejected by UFBU

In talks held on 5th May 2018, IBA made a meager offer of 2% increase which was rejected by UFBU.

For detailed Circular Click http://aipnbsf.org/files/Cir.%209_2.pdf

Bank has entered into PAN India Tie Up With Dr. Lal Pathlabs for Pathology Services and Delhi NCR Network for Radiology Services

The Bank has taken up with Dr LAL Path lab for discounts to PNB staff including retirees and in context after detailed discussion they have agreed to provide 20% Cash Rate discount for all serving and retired employees of PNB and their dependents on PAN India network of Dr. Lal Path Lab for pathology services and on Delhi NCR network for Radiology services.

For detaied Circular Click: http://aipnbsf.org/files/PAN%20India%20Tie%20Up%20With%20Dr%20Lal%20Pathlabs.pdf

Apex Court removed anomaly in Pension of Bank employees who retired/died between 1-4-1998 & 31-10-2002 including VRS 2000 optees

Supreme Court removed anomaly in the Pension of Bank employees/officers who retired/died after 1-4-1998 uptill 31-10-2002 including VRS 2000 optees.

For cppy of the judgement Click: http://aipnbsf.org/files/SC%20JUDGEMNT.pdf

The Payment of Gratuity(Amendment) Bill, 2018 Passed by Parliament; Gratuity Ceiling be revised to Rs.20 Lakhs w.e.f. 29.03.2018

The Payment of Gratuity(Amendment) Bill, 2018 has been passed by parliament on 22nd March 2018. The bill ensures harmony amongst employees in the private sector and Public Sector Undertakings/Autonomous Organizations under Government who are not covered under CCS (Pension) Rules. These employees will be entitled to receive higher amount of gratuity at par with their counterparts in Government sector. The bill was passed by the Rajya Sabha on 22nd March 2018 and the Lok Sabha on 15th March, 2018.

The Payment of Gratuity Act, 1972 applies to establishments employing 10 or more persons. The main purpose for enacting this Act is to provide social security to workman after retirement, whether retirement is a result of superannuation, or physical disablement or impairment of vital part of the body. Therefore, the Payment of Gratuity Act, 1972 is an important social security legislation to wage earning population in industries, factories and establishments.

The present upper ceiling on gratuity amount under the Act is Rs. 10 Lakh. The provisions for Central Government employees under Central Civil Services (Pension) Rules, 1972 with regard to gratuity are also similar. Before implementation of 7th Central Pay Commission, the ceiling under CCS (Pension) Rules, 1972 was Rs. 10 Lakh. However, with implementation of 7th Central Pay Commission, in case of Government servants, the ceiling has been raised to Rs. 20 Lakhs.

Therefore, considering the inflation and wage increase even in case of employees engaged in private sector, this Government decided that the entitlement of gratuity should also be revised in respect of employees who are covered under the Payment of Gratuity Act, 1972. Accordingly, the Government initiated the process for amendment to Payment of Gratuity Act, 1972 to increase the maximum limit of gratuity to such amount as may be notified by the Central Government from time to time.

In addition, the Bill also envisages to amend the provisions relating to calculation of continuous service for the purpose of gratuity in case of female employees who are on maternity leave from 'twelve weeks' to such period as may be notified by the Central Government from time to time.

After enactment of the Act, the power to notify the ceiling of the amount of gratuity under the Payment of Gratuity Act, 1972 shall stand delegated to the Central Government so that the limit can be revised from time to time keeping in view the increase in wage and inflation and future pay commissions.

This ammendment is effective from 29.03.2018. 

PNB issued circular for 2nd option of Pension to compulsory retired employees in terms of IBA Letter dated 16.03.2018

PNB issued PF & Pension Fund Deptt. Circular No. 06/2018 dated 07.06.2018 for 2nd option of Pension to compulsory retired employees on the same terms and conditions as signed in BPS dated 27.04.2010.

1. Date of Submission of option letters by compulsory retired employees/family members of the deceased employees who are eligible for pension option: 15.06.2018 to 13.08.2018 upto 5.00 P.M.

2. Refund of amount by the compulsory retired employees/family members of the deceased employees: 14.08.2018 to 12.09.2018 upto 5.00 P.M. 

For IBA letter dated 16.03.2018 addressed to Chief Executives of member banks in this regard Click http://aipnbsf.org/files/IBA.pdf

For PF & Pension Fund Deptt. Circular No. 06/2018 dated 07.06.2018 in this regard Click : https://www.pnbnet.in/RenderResource.ashx?id=56054