11th Bi-Partite Settlement financial benefits shall take with effect from the dates specified
11th BI-Partite the various provisions of this Settlement shall take effect from the dates specified hereunder, unless provided to the contrary and the financial benefits emanating therefrom shall be given effect to within a period of 90 days from the date of this Settlement.
| With effect from | ||
|---|---|---|
| 1 | Scales of Pay: Basic Pay as per Clause 4 | 1st November 2017 |
| 2 | a) 9th Stagnation Increment and b) pre- ponement due to change in periodicity i) Notional benefit ii) Monetary benefit |
1st November 2017 1st November 2017 1st November 2020 |
| 3 | Professional Qualification Pay/Graduation Pay | 1st November 2017 |
| 4 | Special Pay as per Schedule II Part A | 1st November 2017 |
| 5 | Dearness Allowance, House Rent Allowance, Fixed Personal pay, Special Allowance, Transport Allowance, Annual medical Aid, Hill & Fuel Allowance, | 1st November 2017 |
| 6 | a) Provident Fund & Pension b) Family Pension & New Pension Scheme |
1st November 2017 (Effective date as per Government Approval) |
| 7 | a) cycle Allowance, Split Duty Allowance, Project Area Compensatory Allowance, Washing Allowance b) LFC, Halting Allowance, Compensation on Transfer, Compensation for losses due to breakage or damage to goods on transfer, Reimbursement of Expenses on Road Travel |
1st November,2017 1st November,2020 |
| 8 | Improvements in Leave benefits – Clause 33 to 38 | 1st November,2020 |
| 9 | Annual encashment of privilege Leave | 1st November,2020 |
| 10 | Performance Linked Incentive Scheme | From FY 2020-21 |
| 11 | Deployment | 1st November,2020 |
| 12 | Disciplinary action & procedure thereof | 1st November,2020 |
Date of Effect and Operation
i. This Settlement shall be binding on the parties for five years from 1st November 2017.
ii. The terms and conditions hereof shall continue to govern and bind the parties even thereafter until the Settlement is terminated by either party giving to the other a statutory notice as prescribed in law for the time being in force.
iii. The All India Bank Employees’ Association, the National Confederation of Bank Employees, the National Organisation of Bank Workers and the Indian National Bank Employees Federation on behalf of the workmen agree that during the operation of this Settlement, the workmen will not for any reason whatsoever, raise any demand of any nature whatsoever on any of the banks in respect of matters,
monetary or otherwise, covered by this Memorandum of Settlement.
iv. Copies of the Memorandum of Settlement will be jointly forwarded by the parties to the authorities listed in Rule 58 of the Industrial Disputes (Central) Rules, 1957 so that terms and conditions thereof are binding on the parties as provided in law.
Source file: 11thBPS