Dear All, From : R.B.KISHORE
1)Please go through all the 3 attachments,Charts are from VIMAKAMGAR October 2015 issue.
Chart 1 is PayScale Wise Comparison with DA for ASSISTANT,Old & New Basic Pay Scales.
This Chart also contains Stagnation Increment,Every 2 years for Assistant
Chart 2 is PayScale Wise Comparison with DA for HGA
This Chart also contains Stagnation Increment,Every 3 years for HGA
2)Chart 1 for Asst shows STAGES 1 to 21.
i)For Stage 1,the Difference between Old & New Basic Py with DA as at 17/10/2015 shows Total of BP + DA Rs18,716 ---Old BP+DA Rs12,694 = Rs 6.022
ii)For Stage 11,midpoint out of 21 Stages, the Difference between Old & New BP+DA works out to Rs 31,880--Rs21,583 =Rs10,297
iii)For Stage 21,Maximum of Stages,the Difference between Old & New BP+DA works out to Rs51,770--Rs34975 =Rs16,795
3)Chart 2 shows similar parameter for HGA
i)For Stage 1,the Difference between Old & New Basic Pay + DAworks out to
Rs28,041--18,983 =Rs9,058
ii)For Stage 10,midpoint Stage for HGA,the Difference between Old & New Basic Pay +DA works out to Rs46,076--31,120 =Rs14,956
iii)For Stage 19,Maximum Stage for HGA,the Difference works out to Rs 64,753--43,681 =Rs 21,072
4)In addition, other allowances etc New & Old,when added the Difference will still rise & so, the Per Month Increase shall be substantial,
5)After approval of Govt & LIC accepting some suggestions from Unions on some counts,obviously,with Govt Notification,the Final picture will be more optimistic,signifying,one of the best ever Wage agreements, looking to Bank Agreement ,which contained restrictive features never seen before & especially on DA merger with Basic Pay where LIC Chairman has been able to steer clear & secure Full merger of DA at CPI 1/8/2012, which is remarkable
6)There will be 13.5% rise in Basic Pay after merger of DA as on 1/8/2012 with NO CAP.Increase in HRA,CCA, Transport Allowance,Cash Medical Aid etc will be further additions.
7)Increase in Annual Wage Bill as on 1/8/2012 is estimated at Rs 1450 crores.
8)A steep rise in Basic Pay will result in steep rise in Pension & other Retiral Benefits
9)Some additional proposals of Unions include cost of Dental treatment in Mediclaim & increase in High-cost Medical treastment
Please go through the Attachments
Greetings,Congrats to Employees & LIC
R.B.KISHORE
VP,AIRIEF
