Comparison of latest wage settlement for officers in Banks and LIC of India
|
Posted: 17 Jan 2016 07:58 AM PST
The
communication from GOI to individual banks to start 11th BPS was prompted by
the LIC wage revision that was notified by the government on 14-06-2016. At
the lowest end (AAO in LIC of India and Officer in JMGS I in banks), the
gross salary per month in Metros is Rs.48,800 and Rs.38,703 respectively,
signifying a variance of 26.09%. At the highest level (ZM-S in LIC and GM in
banks), the gross salary per month in Metros is Rs.140,421 and Rs.197,342
respectively, signifying a variance of 40.54%. That's why I say by the next
wage revision, the gap between bank staff and LIC staff may widen further, so
that LIC staff will receive twice the salary of bank staff in November, 2017.
After the 7th CPC recommendations are
notified, bank staff will be exposed to greater shock.
|
Comparison of
latest wage settlement for officers in Banks and LIC of India
|
|
|
|
S No
|
Comparative
parameters
|
Banks
|
LIC of India
|
Difference
|
|
1
|
Notional Basic
Pay as on 31-07-2012
|
100
|
100
|
|
|
2
|
D.A. merged
with Basic Pay this time (AICPI)
|
4440
|
4708
|
|
|
3
|
D.A. merged
with Basic Pay last time (AICPI)
|
2836
|
2944
|
|
|
4
|
Difference
between (2) and (3)
|
1604
|
1764
|
|
|
5
|
% of D.A.
merged with D.A. this time
|
60.15
|
66.15
|
|
|
6
|
Revised Basic
Pay after D.A. merger
|
160.15
|
166.15
|
|
|
7
|
Additional
load made this time in Basic Pay
|
2%
|
14.49%
|
12.49%
|
|
8
|
Revised Basic
Pay after additional load
|
163.45
|
190.23
|
16.38%
|
|
9
|
Minimum Basic
Pay - Lowest Grade (Last
time)
|
14,500
|
17,240
|
18.90%
|
|
10
|
Maximum Basic
Pay - Highest Grade (Last
time)
|
52,000
|
59,850
|
15.10%
|
|
11
|
Minimum Basic
Pay - Lowest Grade (This
time)
|
23,700
|
32,795
|
38.38%
|
|
12
|
Maximum Basic
Pay - Highest Grade (This
time)
|
85,000
|
124,295
|
46.23%
|
|
13
|
Gross Monthly
Salary in Metros - Lowest
|
38,703
|
48,800
|
26.09%
|
|
14
|
Gross Monthly
Salary in Metros - Highest
|
140,421
|
197,342
|
40.54%
|
|
15
|
Revised H.R.A.
|
7%/8%/9%
|
7%/8%/10%
|
|
|
16
|
Revised C.C.A.
|
3%/4%
|
2%/2.5%/3%
|
|
|
17
|
Medical Aid
(Rs.)
|
8,000/9,050
|
13,300/19,940
|
|
|
|
Note
|
Government of
India has notified the wage revision in LIC of India on 14-01-2016.
|
|
|
In LIC of
India, '5 day week' has been agreed upon.
|
|
|
Date
|
16-01-2016
|
|
pannvalan
|
|
