Implementation of Wage Revision along with Pay Protection of 25% Variable Pay drawn by the workforce of the Bank

Implementation of Wage Revision along with Pay Protection of 25% Variable Pay drawn by the workforce of the Bank.

THE JAMMU & KASHMIR BANK OFFICERS’ ASSOCIATION KASHMIR

A CONSTITUTENT UNIT OF AIJKBOF

(AFFILIATED TO AIBOA)

SAMAD COMPLEX, M.A.LINK ROAD, SRINAGAR.

———————————————————————————-

Ref. No: JKBOA/Kashmir/2020-02

President,

Human Resources Development Division,

Corporate Headquarters,

M. A.  Road, Srinagar Kashmir.

Dated: 17^th of February, 2021.

Subject: Implementation of Wage Revision along with Pay Protection of 25% Variable Pay drawn by the workforce of the Bank.

Sir,

Apropos to the discussion held on 13^th instant at Jammu followed by a briefing on additional Pay component of 25% of Basic Pay drawn by the workforce of the Bank, it is reiterated that in the year 2007 for consolidation and strengthening of the Balance sheet along with far reaching changes in the business strategy, Bank in consultation with Hewitt Associates planned long lasting interventions aimed to provide all employees of the bank with a happy and conducive environment, a planned career growth and remunerative and competitive compensation and this HR project was named as “NAYE SUBAH”.

Consequent upon the signing ofjoint note after successful conclusion of negotiations between IBA and different National level Officers Associations under the banner of UFBU on Salary Revision for officers on 11^th November, 2020, Wednesday at Mumbai, after MOU which was earlier signed on 22^nd of July, 2020, for an increase of 15% on the wage bill as on 31.03.2017, the workforce of the bank was to be paid arrears in salary for the period from 01.11.2017 till the payment of regular revised salary and entire process was to be completed within a period of 90 days from the date of settlement, Ref. Clause 46, under the Head “Implementation” of the agreement which has already expired on 10^th of Feburary,2021, for which constituent units have to submit a certificate to its parent organization i.e. All India Bank Officers’ Association to the effect that settlement has been implemented within the stipulated time frame successfully, while as in our case, it is total contrary so far.

Inexplicable delay caused in paying revised salary and arrears w.e.f 01.11.2017 duly protected, in terms of Circular-cum-Message of General Manager(P&HRD), issued vide his message bearing No: HRDD/07-240 dated: February 12,2007 of Human Resources Development Division, Corporate Headquarters, M.A. Road, Srinagar i.e. addition of Variable Pay Component of 25% of revised Basic pay has caused a sense of chaos and confusion and further unnecessary delay will result in discouragement and frustration among the workforce of the bank which will definitely will be a cause of concern for the Associations and we shall be left with no option but to act and use available trade union tools to promote the interest of members.

Needless to mention here that Bank reverted back to revised IBA pay structure, however during this exercise, Bank ensured that nobody loses in the move towards IBA scales, Adjustments were made under a special allowance- to ensure pay protection. The shortfall/excess pay drawn by some officers Vis-à-vis revised IBA scales was provided/protected, the protection was drawn as stagnation/transitional allowance which got adjusted with the increase in the D.A, Increment/benefits at the time of promotions. After adjustments, to ensure pay protection Variable Pay Component of 25% was added to the IBA package to keep ahead of IBA, accordingly,

1.    Fixed 15% increase in the emoluments of all employees was announced under the head variable pay, for the year 2006-2007, this increase of 15% of the revised IBA basic pay was paid in the form of arrears in one instalment till April, 2007 on regular basis,

2.    As a part of the “Naye Subah” package, remaining addition of 10% in the variable Pay component took effect from 1^st April, 2007.

3.    Further, with effect from 1^st October 2009, 10% Variable Pay Component accounted for payment of Dearness Allowance and 15% Variable Pay Component for pension and other Allowances (except D.A.)

Meanwhile, we hereunder provide a chart in the form of annexures giving the details of loss suffered by an individual officer during the course of transaction while reverting back to Industry Level settlement in the year 2006. 

  Sd/=                                                      Sd/=                                                 Sd/=

Mehrajudin Shah                                     Anil Sharma                                      Abishik Baru

President                                                President                                         President  

JKBOA-Kashmir                                       JKBOA-Jammu                                  JKBOA-Delhi 

Copy to:

1.    Vice-President, HRDD, Corporate Headquarters, M.A. Road, Srinagar for kind information.

2.    Industrial Relations Offer, HRDD, Corporate Headquarters, M.A.Road, Srinagar for information.

3.    General Secretary, All India Bank Officers Association, Beach Rd, Mannady, George Town, Chennai, Tamil Nadu 600001 for kind information.