At last the wage negotiation of the banking industry has reached a final stage where the IBA and The UFBU has signed the MOU on 27.11.2009. Another option to join the pension scheme has pushed the salary structure to the back seat. Long and deep discussions are going on about the CPF to be surrendered back to join the pension scheme. Rumor mongers are having a field day and unless the union leaders come out with the concrete proposals everybody have his own calculations and confuse one and all.
17.50% increase in the wages does not mean straight increase in the salary. it comprises so many load factors. It is always a complicated puzzle and ultimately one will satisfy with what he got as increase and the arrears of some lumpsum he receive for the period from November 2007 to till date.February is the month by which the arrears will be distributed completely as per unions.
maharam
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